Spanish, official) 98.6, indigenous 3.9, other indigenous 0.7, foreign 2.8, other 0.6
Economic Overview
Key economic indicators for Ecuador
GDP:
$260.213 billion
GDP per Capita:
$14,500
GDP Growth:
2.36%
Inflation:
2.22%
Unemployment:
3.37%
Public Debt:
45.4% of GDP
Credit Rating:
B- (2020)
Political System
Governance structure of Ecuador
Government Type:
presidential republic
Head of State:
President Daniel NOBOA Azin (since 23 November 2023)
Head of Government:
President Daniel NOBOA Azin (since 23 November 2023)
Judiciary:
National Court of Justice or Corte Nacional de Justicia (consists of 21 judges, including the chief justice and organized into 5 specialized chambers); Constitutional Court or Corte Constitucional (consists of the court president and 8 judges)
Administrative Divisions:
24 provinces (provincias, singular - provincia); Azuay, Bolivar, Canar, Carchi, Chimborazo, Cotopaxi, El Oro, Esmeraldas, Galapagos, Guayas, Imbabura, Loja, Los Rios, Manabi, Morona Santiago, Napo, Orellana, Pastaza, Pichincha, Santa Elena, Santo Domingo de los Tsachilas, Sucumbios, Tungurahua, Zamora Chinchipe
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
2535 15th Street NW, Washington, DC 20009
Major Alliances and Organizations
OAS
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
7.7% (2023 est.)
Industry
26.9% (2023 est.)
Services
59.7% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$34.672 billion
Imports:
$34.562 billion
Major Trading Partners
USA 22
China 21
Panama 12
Japan 3
Peru 3
Economic Outlook
Ecuador has a 2.36% GDP growth rate with 2.22% inflation. The economy is characterized by a strong agriculture sector.