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Ecuador – Important Facts

Ecuador officially the Republic of Ecuador is a representative democratic republic in north western South America, bordered by Colombia on the north, Peru on the east and south, and the Pacific Ocean to the west. Ecuador also includes the Galapagos Islands in the Pacific, about 1,000 kilometres (620 mi) west of the mainland.

Ecuador has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Ecuador is a member of the Andean Community (ANCOM).

Between 2006 and 2014, GDP growth averaged 4.6 percent, thanks to robust oil prices and important external financing flows. This stimulus allowed for increased social spending, particularly in the energy and transportation sectors. According to national poverty lines, poverty rates fell from 37.6 percent to 22.5 percent during this period. The Gini Index declined from 0.54 to 0.47 given that growth benefitted the poorest population more than other segments

Facts: Republic of Ecuador Capital: Quito, Population: 14.8 million, Area:272,045 sq km (105,037 sq miles), Major languages: Spanish and indigenous languages, Major religion: Christianity, Life expectancy: 73 years (men), 79 years (women), Currency: US dollar.

Important Details

  • Country ISO3:ECU
  • Country Code:218
  • Income Group:Latin America & Caribbean
  • Lending Category:Upper middle income
  • Region:IBRD
  • Currency Unit:U.S dollar
  • WTO Member:YES
  • Trade organisations:Andean Community of Nations, WTO, Unasur, ALADI, Bolivarian Alliance for the Americas, Mercosur(Associate)
  • world rank:159
  • Regional Ranking:25th in the South and Central America/Caribbean Region