Ecuador

Description of Ecuador

Ecuador, a vibrant South American nation nestled between Colombia and Peru, boasts a rich tapestry of culture, biodiversity, and economic potential. With the Andes Mountains running through its heart and the Amazon rainforest spreading across its eastern regions, Ecuador is a country of immense natural beauty. As a global player in the production of commodities such as petroleum, bananas, and shrimp, Ecuador's economy is heavily reliant on exports. This website delves into the macroeconomic landscape of Ecuador, exploring how key statistics and trends impact its development and place in the international arena.

Population And Age Structure

For the attribute "Population, total," Ecuador's population of 17,588,595 is below the average of 40,097,746. Ecuador ranks 66 out of 194 countries included in the data.

Regarding "Population ages 0-14 (% of total population)," Ecuador's value of 26.49% is slightly below the average of 27.34%. Ecuador ranks 96 out of 194 countries.

In terms of "Population ages 0-14, total," Ecuador's figure of 4,659,213 is significantly below the average of 10,327,379. Ecuador ranks 75 out of 194 countries.

Looking at "Population ages 15-64 (% of total population)," Ecuador's rate stands at 65.97%, which is above the average of 63.44%. Ecuador ranks 68 out of 194 countries.

For "Population ages 15-64, total," Ecuador's count of 11,602,470 is notably below the average of 26,003,407. Ecuador ranks 62 out of 194 countries.

As for "Population ages 65 and above (% of total population)," Ecuador's percentage of 7.54% is below the average of 9.22%. Ecuador ranks 89 out of 194 countries.

Lastly, in terms of "Population ages 65 and above, total," Ecuador's population of 1,326,911 is below the average of 3,766,959. Ecuador ranks 63 out of 194 countries.

Summary

Ecuador's population falls below global averages across all age groups, indicating a relatively young population compared to other countries in the dataset. Despite being below average in total population, Ecuador has a higher percentage of working-age individuals (ages 15-64) and a lower percentage of elderly individuals (ages 65 and above). This demographic distribution can impact various aspects of the economy, such as labor force dynamics, healthcare needs, social security requirements, and overall economic dependency ratios.

Population Miscellaneous

Rural population in Ecuador is 6,302,697, which is below the average of 18,044,041. This ranks Ecuador 74th out of 190 countries.

The percentage of Rural population in Ecuador is 35.834%, below the average of 41.158%. Ecuador ranks 107th out of 190 countries.

Urban population in Ecuador is 11,285,898, below the average of 22,425,747. This places Ecuador 56th out of 194 countries.

Ecuador's Urban population (% of total population) is 64.166%, above the average of 59.691%. Ecuador ranks 88th out of 194 countries.

The Age dependency ratio (% of working-age population) in Ecuador is 51.594%, below the average of 59.219%. Ecuador is ranked 127th out of 194 countries.

Ecuador's Birth rate is 17.037 per 1,000 people, below the average of 19.384. Ecuador ranks 96th out of 192 countries.

The Death rate in Ecuador is 7.534 per 1,000 people, which is below the average of 8.214. Ecuador is ranked 97th out of 192 countries.

Ecuador's Fertility rate is 2.051 births per woman, below the average of 2.603. This ranks Ecuador 99th out of 190 countries.

Summary

Ecuador has a relatively lower rural population, urban population, age dependency ratio, birth rate, death rate, and fertility rate compared to global averages. While Ecuador ranks moderately in most indicators, its urban population percentage exceeds the global average. These statistics are crucial for policymakers and investors to understand Ecuador's demographic landscape and its potential for economic growth, urban development, and social welfare initiatives.

Military

Analysis of Military Expenditure (current USD): Ecuador's military expenditure is $2,356,300,000, which is below the average of $12,904,993,617.16. Ecuador ranks 56 out of 149 countries in this attribute.

Analysis of Military Expenditure (% of GDP): Ecuador's military expenditure is 2.37% of its GDP, above the average of 1.90%. Ecuador ranks 34 out of 148 countries in this attribute.

Analysis of Arms Imports (SIPRI trend indicator values): Ecuador's arms imports are $21,000,000, significantly below the average of $205,522,123.89. Ecuador ranks 73 out of 113 countries in this attribute.

Analysis of Armed Forces Personnel, Total: Ecuador has 42,000 armed forces personnel, below the average of 165,908.54. Ecuador ranks 77 out of 164 countries in this attribute.

Analysis of Armed Forces Personnel (% of total labor force): Ecuador's armed forces personnel account for 0.54% of its total labor force, below the average of 1.28%. Ecuador ranks 106 out of 164 countries in this attribute.

Summary

Ecuador's military expenditure, arms imports, number of armed forces personnel, and percentage of armed forces personnel in the total labor force are all below global averages. These indicators suggest that Ecuador may have a smaller military presence compared to many other countries. While this could reflect varying national defense strategies, it is important to consider how these factors may impact Ecuador's military capabilities, defense preparedness, and geopolitical positioning in the region.

Natural Resources

Forest Area (sq. km): Ecuador has a forest area of 124,978.3 sq. km, which is below the average forest area of 211,606.11 sq. km. Ecuador ranks 48th out of 191 countries in terms of forest area.

Land Area (sq. km): With a land area of 248,360 sq. km, Ecuador's land area is below the average of 665,166.51 sq. km. Ecuador is ranked 76th out of 194 countries based on land area.

Surface Area (sq. km): Ecuador's surface area of 256,370 sq. km is also below the average surface area of 689,779.56 sq. km. It shares the same rank of 76th out of 194 countries with land area.

Arable Land (hectares): Ecuador possesses 1,038,000 hectares of arable land, significantly lower than the average of 7,329,543.16 hectares. Ecuador ranks 105th out of 190 countries in arable land.

Land Under Cereal Production (hectares): Ecuador's land under cereal production is 686,950 hectares, below the average of 4,206,011.63 hectares. Ecuador ranks 92nd out of 174 countries in this category.

Average Precipitation in Depth (mm per year): Ecuador receives an average precipitation depth of 2,274 mm per year, higher than the average of 1,157.83 mm. It ranks 22nd out of 178 countries in average precipitation.

Renewable Internal Freshwater Resources, Total (billion cubic meters): Ecuador has 442.4 billion cubic meters of renewable internal freshwater resources, above the average of 240.41 billion cubic meters. It ranks 18th out of 178 countries in this resource.

Summary

Ecuador's key macroeconomic indicators reveal that it has a relatively small forest area, land area, and arable land compared to the global averages. However, the country receives a higher-than-average amount of precipitation and possesses abundant freshwater resources. These statistics are crucial as they indicate Ecuador's environmental resources, which could impact its agricultural productivity, water availability, and overall sustainability.

Resource Rents

Total natural resources rents (% of GDP): Ecuador's value for this attribute is 2.92%, which is below the average of 4.63%. Ecuador ranks 69th out of 175 countries in this category.

Forest rents (% of GDP): Ecuador's value for this attribute is 0.35%, below the average of 1.53%. Ecuador ranks 78th out of 174 countries in this category.

Oil rents (% of GDP): Ecuador's value for this attribute is 2.56%, slightly above the average of 2.51%. Ecuador ranks 26th out of 117 countries in this category.

Natural gas rents (% of GDP): Ecuador's value for this attribute is 0.01%, which is below the average of 1.25%. Ecuador ranks 70th out of 96 countries in this category.

Summary

Ecuador's natural resources rents as a percentage of GDP are below the global average across all categories - total, forest, oil, and natural gas. While the country's oil rents percentage is slightly above the global average, its other natural resource rents lag behind. This indicates a potential underutilization or undervaluation of Ecuador's natural resources compared to other countries, which could impact its overall economic development and potential for revenue generation.

Commodities

- Cereal production (metric tons): Ecuador's cereal production is 24,255.57 metric tons, significantly below the average of 17,249,945.93 metric tons, ranking 85th out of 174 countries.
- Aquaculture production (metric tons): Ecuador's aquaculture production is 774,528.95 metric tons, above the average of 679,642.92 metric tons, ranking 14th out of 180 countries.
- Capture fisheries production (metric tons): Ecuador's capture fisheries production is 636,310.68 metric tons, above the average of 467,453.06 metric tons, ranking 29th out of 190 countries.
- Total fisheries production (metric tons): Ecuador's total fisheries production is 1,410,839.63 metric tons, above the average of 1,153,914.85 metric tons, ranking 19th out of 182 countries.
- Fertilizer consumption (kilograms per hectare of arable land): Ecuador's fertilizer consumption is 362.88 kg per hectare, above the average of 159.04 kg per hectare, ranking 15th out of 187 countries.

Summary

Ecuador's agricultural sector demonstrates strength in aquaculture and fisheries production, ranking above average globally in both categories. Additionally, the country exhibits a proactive approach to enhancing agricultural productivity through above-average fertilizer consumption per hectare of arable land. These indicators showcase Ecuador's potential for sustained growth and food security, positioning it favorably among its global counterparts in the agricultural sector.

Intellectual Property

Industrial design applications, nonresident, by count: Ecuador's value of 63 is significantly below the attribute average of 1415.83. Ecuador ranks 83 out of 112 countries in this category.

Industrial design applications, resident, by count: Ecuador's value of 53 is well below the attribute average of 9799.58. Ecuador ranks 78 out of 113 countries for this attribute.

Patent applications, nonresidents: Ecuador's value of 374 is below the attribute average of 6538.40. Ecuador ranks 45 out of 129 countries included in the data.

Patent applications, residents: With a value of 33, Ecuador falls short of the attribute average of 19037.56. Ecuador ranks 86 out of 117 countries for this attribute.

Trademark applications, nonresident, by count: Ecuador's value of 6323 is below the average of 15878.93. Ecuador holds the 59th rank out of 130 countries in this category.

Trademark applications, resident, by count: Ecuador's value of 12369 is well below the attribute average of 111055.78. Ecuador ranks 44 out of 129 countries included in the data.

Scientific and technical journal articles: Ecuador's value of 2847.83 is below the attribute average of 15103.76. Ecuador ranks 64 out of 192 countries for this attribute.

Charges for the use of intellectual property, payments (BoP, current US$): Ecuador's value of 139,640,396 is significantly below the attribute average of 3,218,843,494.39. Ecuador ranks 65 out of 143 countries in this category.

Charges for the use of intellectual property, receipts (BoP, current US$): Ecuador's value of 4,259,574 is well below the attribute average of 3,191,687,117.58. Ecuador's rank is 77 out of 122 countries for this attribute.

Summary

Overall, Ecuador performs below the attribute averages in various key macroeconomic indicators related to industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and charges for the use of intellectual property. These statistics highlight Ecuador's relatively weaker position compared to other countries in terms of innovation, research, and intellectual property transactions. Addressing these gaps is crucial for Ecuador's economic development, technological advancement, and competitiveness in the global market.

Broad Economy Attributes

- The GDP (current US$) of Ecuador is $99,291,124,000, which is below the average GDP of $442,870,224,838.68. Ecuador ranks 63 out of 189 countries in this attribute data.
- The GDP, PPP (current international $) of Ecuador is $192,368,341,377.47, also below the average of $734,141,122,350.78. Ecuador ranks 66 out of 181 countries.
- Ecuador's GDP per capita (current US$) is $5,645.20, well below the average of $15,462.11. Ecuador ranks 95 out of 190 countries.
- The GDP per capita, PPP (current international $) of Ecuador is $10,937.11, below the average of $21,251.89. Ecuador ranks 106 out of 181 countries.
- Ecuador's GNI (current US$) is $96,008,370,000, below the average GNI of $452,040,815,370.70. Ecuador ranks 62 out of 185 countries.
- The GNI, PPP (current international $) of Ecuador is $186,008,276,986.11, below the average of $730,698,223,823.47. Ecuador ranks 66 out of 181 countries.
- Ecuador's GNI per capita, PPP (current international $) is $10,580, lower than the average of $20,615.75. Ecuador ranks 106 out of 181 countries.

Summary

Ecuador's key macroeconomic indicators, such as GDP, GDP per capita, and GNI, consistently fall below the global averages when compared to other countries. These numbers indicate that Ecuador's economy is smaller and less prosperous than the average country in the dataset. It suggests that Ecuador may face challenges in terms of economic development, income distribution, and overall growth potential compared to its peers globally.

Broad Value Added

Ecuador's Gross value added at basic prices (GVA) is $93,177,638,000, ranking 58 out of 176 countries. This value is below the attribute average of $360,070,943,595.12.

The contribution of Agriculture, forestry, and fishing to Ecuador's GDP is 9.84%, positioning it at rank 75 out of 182 countries. This percentage is below the attribute average of 10.86%.

Ecuador's Agriculture, forestry, and fishing value added in current US dollars is $9,772,958,000, ranking 48 out of 182 countries. This value is below the attribute average of $19,924,732,828.07.

Services value added to Ecuador's GDP is 53.27%, placing it at rank 114 out of 183 countries. This percentage is below the attribute average of 56.72%.

The Services value added in current US dollars for Ecuador is $52,896,747,000, positioning it at rank 63 out of 183 countries. This value is below the attribute average of $295,837,711,130.69.

Ecuador's Industry (including construction) value added in current US dollars is $30,507,933,000, ranking 59 out of 183 countries. This value is below the attribute average of $118,421,095,413.50.

Summary

Ecuador's macroeconomic indicators show that the country has lower than average values in key areas such as Gross Value Added, Agriculture contribution to GDP, Services value added, and Industry value added. These below-average figures indicate potential areas of improvement in diversifying the economy, increasing efficiency, and fostering growth to better align with global economic standards and competitiveness.

Manufacturing Value Added

Ecuador's manufacturing value added in current US$ is $16,392,070,000. This is significantly below the average of $76,207,179,589.66, ranking 56 out of 173 countries.

Manufacturing value added as a percentage of GDP in Ecuador is 16.51%, higher than the average of 11.90%. Ecuador ranks 36 out of 173 countries in this attribute.

Medium and high-tech manufacturing value added in Ecuador accounts for 19.73% of total manufacturing value added, which is lower than the average of 24.49%. Ecuador ranks 83 out of 149 countries in this category.

Ecuador's chemicals sector contributes 12.98% to the value added in manufacturing, slightly above the average of 11.56%. Ecuador ranks 29 out of 89 countries in this aspect.

The food, beverages, and tobacco industry play a significant role in Ecuador's manufacturing, constituting 80.70% of the total value added. This is much higher than the average of 24.51%, ranking Ecuador 1 out of 92 countries.

Only 3.98% of Ecuador's manufacturing value added comes from machinery and transport equipment, significantly below the average of 16.85%. Ecuador ranks 75 out of 93 countries in this attribute.

Ecuador's textiles and clothing industry contributes 3.35% to the value added in manufacturing, below the average of 6.33%. Ecuador ranks 43 out of 93 countries in this category.

The contribution of other manufacturing sectors in Ecuador is negative at -1.00%, in contrast to the average of 42.13%. Ecuador ranks 94 out of 94 countries in this attribute.

Summary

Ecuador's manufacturing sector faces challenges as it has a significantly lower manufacturing value added compared to the global average, ranking 56th out of 173 countries. However, the country excels in the food, beverages, and tobacco industry, which constitutes a large portion of its manufacturing value added, ranking 1st out of 92 countries in this category. These findings highlight the need for diversification and improvement in Ecuador's manufacturing sector to enhance its competitiveness and sustainability in the global market.

Money

- Inflation, consumer prices in Ecuador is -0.34%, which is below the average of 8.26%. Ecuador ranks 143 out of 165 countries in this data set.
- Inflation, GDP deflator for Ecuador is -0.40%, also below the average of 6.90%. Ecuador ranks 144 out of 188 countries for this metric.
- Broad money growth in Ecuador is 9.96%, lower than the average of 18.03%. Ecuador ranks 95 out of 139 countries in this aspect.
- Broad money as a percentage of GDP is 48.89% in Ecuador, which is below the average of 71.75%. The country ranks 90 out of 139 nations.
- Broad money to total reserves ratio for Ecuador is 6.80, which is above the average of 5.17. This places Ecuador at the 17th position out of 126 countries.

Summary

Consumption Expenditure

Final consumption expenditure (current US$): Ecuador's value is $75,077,719,000, which is below the average of $381,630,252,515.38. Ecuador ranks 60 out of 159 countries in this attribute data.

Final consumption expenditure (% of GDP): Ecuador's value is 75.61%, slightly below the average of 82.37%. It ranks 104 out of 159 countries in this category.

General government final consumption expenditure (current US$): Ecuador's value is $16,240,791,000, well below the average of $93,676,578,238.03. Ecuador ranks 61 out of 158 countries in this attribute data.

General government final consumption expenditure (% of GDP): Ecuador's value is 16.36%, below the average of 18.71%. It ranks 92 out of 158 countries in this category.

Household and NPISHs Final consumption expenditure (current US$): Ecuador's value is $58,836,928,000, significantly below the average of $290,127,571,157.69. Ecuador ranks 60 out of 158 countries in this attribute data.

Households and NPISHs final consumption expenditure (% of GDP): Ecuador's value is 59.26%, below the average of 63.68%. It ranks 90 out of 158 countries in this category.

Summary

Ecuador displays relatively low final consumption expenditure figures compared to the global average across key categories such as total, government, and household expenditure. This indicates a potential constraint on domestic demand-led economic growth in Ecuador. Lower consumption levels can impact overall economic activity, investment, and ultimately, the country's economic development trajectory.

Investment

Foreign direct investment, net (BoP, current US$): Ecuador's value of -1094511900.76401 is above the average by $520,724,079.74. Ecuador ranks 115th out of 169 countries in this attribute.

Foreign direct investment, net inflows (BoP, current US$): With a value of 1094850900.76401, Ecuador is below the average by $4,654,420,179.38. Ecuador ranks 70th out of 182 countries.

Foreign direct investment, net inflows (% of GDP): Ecuador's value of 1.10% is below the average by 1.51%. Ecuador ranks 116th out of 178 countries.

Portfolio Investment, net (BoP, current US$): Ecuador's value of -237417620.818 is below the average by $916,976,790.39. Ecuador ranks 114th out of 159 countries.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Ecuador's value of -77186000 is below the average by $4,211,449,915.25. Ecuador ranks 44th out of 59 countries.

Portfolio equity, net inflows (BoP, current US$): Ecuador's value of 1184480.888 is significantly below the average by $9,195,961,513.81. Ecuador ranks 53rd out of 125 countries.

Summary

Ecuador's performance in key macroeconomic indicators shows mixed results in terms of foreign direct investment and portfolio investments. While the country ranks relatively low in foreign direct investment and portfolio equity net inflows, it ranks higher in net inflows. These indicators are crucial as they reflect the level of investor confidence in Ecuador's economy, its attractiveness for foreign investments, and its ability to generate capital for development projects.

Debt

For "Total debt service (% of GNI)", Ecuador's value is 9.68% which is above the average of 5.98%. Ecuador ranks 21 out of 120 countries in this data.

Ecuador's "Public and publicly guaranteed debt service (% of GNI)" is 5.19%, higher than the average of 2.84%. The country ranks 19 out of 120 countries in this attribute.

In terms of "External debt stocks (% of GNI)", Ecuador's value of 58.77% is below the average of 65.42%. It ranks 50 out of 120 countries.

Ecuador's "Debt service on external debt, total (TDS, current US$)" is $9.3 billion, slightly below the average of $9.8 billion. It ranks 19 out of 123 countries in this data.

The "Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$)" for Ecuador is $4.98 billion, surpassing the average of $3.31 billion. It holds the 18th rank out of 123 countries.

For "External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$)", Ecuador's value is $37.81 billion, much higher than the average of $28.69 billion. The country ranks 21 out of 123 countries.

Ecuador's "External debt stocks, private nonguaranteed (PNG) (DOD, current US$)" is $10.7 billion, significantly below the average of $33.73 billion. It ranks 33 out of 91 countries in this data.

In the category of "External debt stocks, total (DOD, current US$)", Ecuador's value of $56.42 billion is lower than the average of $73.85 billion. It ranks 29 out of 123 countries.

Summary

Ecuador exhibits a higher than average total debt service as a percentage of GNI, with rankings above the mean in both public and publicly guaranteed debt service and external debt stocks. However, the country's external debt stocks, especially private nonguaranteed debt, are significantly below average. These indicators are crucial as they reflect Ecuador's financial health, its ability to service debts, and its standing in the global economy.

Broad Trade Attributes

Trade (% of GDP): Ecuador's trade as a percentage of GDP is 41.38%, which is below the average of 82.34%. It ranks 136th out of 163 countries in this attribute data.

Merchandise trade (% of GDP): Ecuador's merchandise trade as a percentage of GDP is 38.55%, below the average of 60.01%. It ranks 136th out of 186 countries in this attribute data.

Trade in services (% of GDP): Ecuador's trade in services as a percentage of GDP is 4.62%, significantly below the average of 24.63%. It ranks 165th out of 171 countries in this attribute data.

External balance on goods and services (current US$): Ecuador's external balance on goods and services is $2.32 billion, below the average of $3.41 billion. It ranks 41st out of 163 countries in this attribute data.

External balance on goods and services (% of GDP): Ecuador's external balance as a percentage of GDP is 2.34%, above the average of -5.97%. It ranks 46th out of 163 countries in this attribute data.

Summary

Ecuador exhibits a trade-dependent economy with trade, merchandise trade, and trade in services as percentages of its GDP falling below global averages, ranking relatively low compared to other countries. However, its external balance on goods and services, though below the average in absolute terms, performs better when considered as a percentage of GDP, ranking higher than average. These indicators are crucial for assessing Ecuador's economic openness, competitiveness in the global market, and its capacity to attract foreign investments.

Net Trade

- Ecuador's current account balance (BoP, current US$) is $2.21 billion, which is higher than the average of $1.44 billion. Ecuador ranks 37th out of 170 countries in this attribute.
- The current account balance (% of GDP) for Ecuador is 2.23%, above the average of -2.36%. It ranks 45th out of 170 countries.
- Ecuador's net trade in goods and services is $2.5 billion, slightly below the average of $2.6 billion. It ranks 42nd out of 171 countries.
- In terms of net primary income, Ecuador is at -$3.28 billion, significantly below the average of -$0.90 billion, ranking 133rd out of 170 countries.
- For net secondary income, Ecuador's value of $2.99 billion is well above the average of -$0.27 billion. Ecuador ranks 34th out of 170 countries.
- Ecuador's net trade in goods is $3.48 billion, notably higher than the average of $1.30 billion, landing it at 37th place out of 171 countries.
- The net capital account for Ecuador is $306.11 million, surpassing the average of $136.54 million. Ecuador ranks 34th out of 159 countries.
- Finally, Ecuador's net financial account stands at $3.25 billion, significantly above the average of -$0.47 billion. This places Ecuador at 30th out of 170 countries.

Summary

Ecuador's macroeconomic indicators show a relatively healthy current account balance, with a positive value both in terms of current US$ and as a percentage of GDP. The country also demonstrates strength in net secondary income and net financial account. However, challenges exist in net primary income, where Ecuador lags significantly below the average. These indicators are crucial for assessing the country's economic stability, trade performance, and financial flows on a global scale.

Broad Export Attributes

- Exports of goods, services and primary income in Ecuador stand at $22,459,277,645.91, below the attribute average of $146,238,908,936.30. Ecuador ranks 72 out of 170 countries in this dataset.
- Ecuador's exports of goods and services amount to $22,373,343,968.64, also below the average export value of $122,938,540,059.78. Ecuador is ranked 68 out of 170 countries for this attribute.
- The country's goods exports, valued at $20,569,528,780.57, fall short of the average of $93,310,581,697.39. Ecuador ranks 65 out of 171 countries for this metric.
- Exports of goods and services as a percentage of GDP in Ecuador are at 21.86%, lower than the average of 38.19%. Ecuador's rank is 114 out of 163 countries.
- International tourism receipts as a percentage of total exports for Ecuador are at 3.15%, lower than the average of 9.74%. Ecuador ranks 66 out of 120 countries in this category.
- Ecuador's ICT goods exports as a percentage of total goods exports are at 0.05%, significantly below the average of 3.81%. The country ranks 123 out of 142 countries for this attribute.

Summary

Ecuador's macroeconomic indicators reflect a trend of below-average performance in key areas such as exports of goods, services, and primary income, goods exports, exports of goods and services as a percentage of GDP, international tourism receipts, and ICT goods exports. These statistics indicate potential challenges in diversifying the economy, enhancing global competitiveness, and optimizing revenue generation from different sectors. Addressing these areas of weakness is crucial for Ecuador's economic growth, sustainability, and resilience in an increasingly interconnected and competitive global market.

Merchandise Exports

Merchandise exports of Ecuador amount to $20,355,000,000, ranking 66 out of 187 countries. This is below the average of $89,542,711,229.95.

Agricultural raw materials exports account for 6.55% of Ecuador's merchandise exports, placing it at rank 18 out of 151 countries. This figure is higher than the average of 2.97%.

Food exports make up 55.22% of Ecuador's merchandise exports, ranking 17 out of 152 countries. This percentage is significantly above the average of 24.06%.

26.06% of Ecuador's merchandise exports are fuel, placing it at rank 26 out of 147 countries. This figure is higher than the average of 13.70%.

Ecuador's ores and metals exports constitute 4.12% of merchandise exports, ranking 66 out of 152 countries. This is below the average of 9.10%.

The reporting economy's residual merchandise exports represent 0.35% of Ecuador's total merchandise exports, ranking 85 out of 166 countries. This is below the average of 3.20%.

Summary

Ecuador relies heavily on food exports, which make up over half of its merchandise exports, ranking 17th globally. Additionally, agricultural raw materials are also a significant export category for Ecuador, ranking 18th worldwide. This indicates the country's strong presence in the agricultural sector, showcasing its agricultural productivity and potential for growth. However, with fuel and ores & metals exports below average, Ecuador may want to diversify its export portfolio to reduce dependency on specific sectors and enhance resilience to market fluctuations.

Technology Exports

Manufactures exports (% of merchandise exports): Ecuador's value is 6.08%, which is below the average of 42.62%. Ecuador is ranked 138 out of 152 countries for this attribute.

High-technology exports (current US$): Ecuador's export value is $52,973,237, significantly lower than the average of $16,655,934,078.80. Ecuador holds the 90th position out of 151 countries in this aspect.

High-technology exports (% of manufactured exports): At 4.28%, Ecuador's performance is below the average of 10.15%. The country ranks 93rd out of 150 nations for this metric.

Medium and high-tech exports (% manufactured exports): Ecuador stands at 8.57%, lower than the average of 34.29%. In this category, Ecuador is placed 125th out of 149 countries included in the data.

Summary

Ecuador exhibits lower than average performance across key macroeconomic indicators related to exports of manufactured goods, high-technology products, and medium to high-tech exports. These statistics signify a lack of diversification and competitiveness in Ecuador's export sector, which could impede the country's ability to generate higher revenues, create quality jobs, and drive economic growth in the long run.

Service Exports

Service exports in Ecuador amount to $1.80 billion, significantly below the average of $28.92 billion, ranking 90th out of 171 countries in the dataset.

ICT service exports in Ecuador stand at $82.49 million, well below the average of $4.58 billion, placing Ecuador 103rd out of 166 countries.

ICT service exports as a percentage of total service exports in Ecuador is 4.57%, lower than the average of 11.75%. Ecuador ranks 117th out of 166 countries.

Communications, computer, etc. services as a percentage of service exports in Ecuador constitute 20.20%, below the average of 45.85%, with a rank of 138 out of 169 countries.

Transport services account for 36.78% of Ecuador's service exports, surpassing the average of 21.80%, placing Ecuador at the 28th position out of 169 countries.

Travel services contribute 38.87% to Ecuador's service exports, higher than the average of 26.40%. Ecuador ranks 42nd out of 167 countries.

Insurance and financial services constitute 4.15% of Ecuador's service exports, below the average of 6.46%. Ecuador ranks 73rd out of 161 countries in this aspect.

Summary

Ecuador's service exports are relatively low compared to the global average, with notable deficiencies in ICT service exports and percentage contribution of certain service types. The country performs better in transport and travel services, exceeding the global averages in these sectors. These indicators are crucial for assessing Ecuador's economic diversification, competitiveness in the global market, and potential areas for development and improvement in its service sector.

Commercial Service Exports

1. Commercial service exports (current US$): Ecuador's commercial service exports amount to $1.69 billion, ranking 91st out of 171 countries. This value is significantly below the average of $28.51 billion for commercial service exports.

2. Travel services (% of commercial service exports): Ecuador's travel services account for 41.58% of its commercial service exports, ranking 46th out of 167 countries. This percentage is notably higher than the average of 27.89% for countries in this category.

3. Computer, communications and other services (% of commercial service exports): Ecuador's services in this category represent 14.65% of its commercial service exports, placing it at 144th out of 169 countries. The percentage is well below the average of 42.44% for countries in this group.

4. Insurance and financial services (% of commercial service exports): Ecuador's insurance and financial services make up 4.44% of its commercial service exports, ranking 74th out of 161 countries. This percentage is lower than the average of 6.97% for countries in this segment.

5. Transport services (% of commercial service exports): Ecuador's transport services contribute 39.33% to its commercial service exports, placing it at 30th out of 169 countries. This percentage is notably higher than the average of 23.37% for countries in this category.

Summary

Ecuador's key macroeconomic indicators reveal a reliance on travel services, which account for a significant portion of its commercial service exports at 41.58%. However, the country lags in computer, communications, and other services as well as insurance and financial services compared to global averages. The high contribution of transport services at 39.33% highlights Ecuador's strength in this sector. These indicators are crucial as they showcase Ecuador's trade strengths and areas for potential growth and improvement in diversifying its service exports.

Broad Import Attributes

Imports of goods and services (current US$): Ecuador's value of $19.38 billion is below the average of $126.19 billion, ranked 74th out of 163 countries.

Imports of goods and services (% of GDP): Ecuador's value of 19.52% is below the average of 44.15%, ranked 147th out of 163 countries.

International tourism, expenditures (% of total imports): Ecuador's value of 2.68% is below the average of 3.98%, ranked 75th out of 131 countries.

ICT goods imports (% total goods imports): Ecuador's value of 7.28% is above the average of 6.85%, ranked 44th out of 143 countries.

Goods imports (BoP, current US$): Ecuador's value of $17.09 billion is below the average of $92.01 billion, ranked 70th out of 171 countries.

Imports of goods and services (BoP, current US$): Ecuador's value of $19.87 billion is below the average of $120.32 billion, ranked 75th out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Ecuador's value of $23.24 billion is below the average of $144.51 billion, ranked 74th out of 170 countries.

Summary

Ecuador's imports of goods and services, both in terms of absolute value and as a percentage of GDP, are below global averages and rank relatively low compared to other countries. Additionally, its international tourism expenditures and ICT goods imports also fall below average levels internationally. These indicators suggest that Ecuador may have limited integration in the global trade and tourism markets, which could impact its economic growth potential and competitiveness.

Merchandise Imports

Analysis of key import attributes for Ecuador:

1. Merchandise imports (current US$): Ecuador's value of $17.92 billion is significantly below the average of $89.39 billion, ranking 74th out of 190 countries.

2. Manufactures imports (% of merchandise imports): Ecuador's value of 67.58% is slightly above the average of 66.76%, ranking 81st out of 152 countries.

3. Agricultural raw materials imports (% of merchandise imports): Ecuador's value of 0.88% is below the average of 1.27%, ranking 101st out of 152 countries.

4. Food imports (% of merchandise imports): Ecuador's value of 13.21% is below the average of 15.89%, ranking 89th out of 152 countries.

5. Fuel imports (% of merchandise imports): Ecuador's value of 15.48% is above the average of 11.38%, ranking 32nd out of 152 countries.

6. Ores and metals imports (% of merchandise imports): Ecuador's value of 1.06% is below the average of 2.57%, ranking 111th out of 152 countries.

7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): Ecuador's value of 0.45% is significantly below the average of 2.51%, ranking 86th out of 180 countries.

Summary

Ecuador's key import attributes reveal a significant reliance on fuel imports, which account for 15.48% of merchandise imports, ranking the country 32nd out of 152 countries. Conversely, Ecuador's agricultural raw materials imports are notably low at 0.88%, placing it at 101st position.

These findings are crucial as they highlight Ecuador's vulnerability to fluctuations in fuel prices as well as its limited diversification in importing essential agricultural raw materials. Addressing these imbalances can enhance Ecuador's economic stability and reduce its dependence on a single sector.

Service Imports

1. Service imports (BoP, current US$): Ecuador's value for service imports is significantly below the average of $27,615,356,170.47, ranking 87th out of 171 countries.

2. Communications, computer, etc. (% of service imports, BoP): Ecuador's percentage for communications, computer, etc. is below the average of 44.40%, ranking 134th out of 169 countries.

3. Transport services (% of service imports, BoP): Ecuador's percentage for transport services is above the average of 32.90%, ranking 51st out of 169 countries.

4. Travel services (% of service imports, BoP): Ecuador's percentage for travel services is slightly above the average of 14.14%, ranking 63rd out of 169 countries.

5. Insurance and financial services (% of service imports, BoP): Ecuador's percentage for insurance and financial services is significantly above the average of 8.53%, ranking 13th out of 169 countries.

Summary

Ecuador's service imports value is significantly below the global average, indicating a potential opportunity for growth in this sector. While the country lags behind in communications and computer services, it performs relatively well in transport and travel services. Notably, Ecuador excels in insurance and financial services, surpassing most other countries in this category. These indicators are crucial as they highlight Ecuador's strengths and weaknesses in the services sector, guiding policymakers and stakeholders towards areas that require attention and investment for economic development.

Commercial Service Imports

Commercial service imports in Ecuador amount to 2.7 billion USD, ranking 87th out of 171 countries. This is significantly below the attribute average of 27.1 billion USD.

Computer, communications, and other services contribute 24.76% to Ecuador's commercial service imports, ranking 131st out of 169 countries. This percentage is notably below the average of 41.71%.

Insurance and financial services represent 18.93% of Ecuador's commercial service imports, ranking 14th out of 169 countries. Ecuador outperforms the average of 8.85% in this category.

Transport services constitute 41.25% of Ecuador's commercial service imports, ranking 54th out of 169 countries. Ecuador exceeds the average of 34.71% in this sector.

Travel services make up 15.06% of Ecuador's commercial service imports, placing Ecuador 63rd out of 169 countries. This percentage is slightly above the average of 14.73%.

Summary

Ecuador's commercial service imports show a mixed performance compared to global averages. While the country falls significantly below the average total amount spent on commercial services, it excels in importing insurance and financial services, exceeding the global average by a substantial margin. Understanding these trends is crucial for Ecuador's economic development as it indicates areas where the country is competitive and where there may be room for improvement in diversifying its service imports.

Infrastructure

In terms of Air transport freight (million ton-km), Ecuador's value of 10.60 million ton-km is significantly below the average of 1384.37 million ton-km, ranking 75th out of 126 countries.

For Air transport registered carrier departures worldwide, Ecuador's value of 12056.18 departures is well below the average of 134365.61 departures, placing Ecuador at the 75th position out of 149 countries.

Ecuador's Air transport passengers carried of 1146368.54 falls substantially lower than the average of 11848242.70 passengers, ranking 68th out of 149 countries.

As for Container port traffic (TEU: 20 foot equivalent units), Ecuador's value of 2517104 TEU is below the average of 6907110.27 TEU, with Ecuador ranked 43rd out of 110 countries in this aspect.

Summary

Ecuador displays below-average performance in key macroeconomic indicators related to air transport and container port traffic compared to global averages. With lower values in air transport freight, registered carrier departures, passengers carried, and container port traffic, Ecuador's rankings are notably lower than the global averages, indicating potential challenges and limitations in its transportation infrastructure and trade capabilities. Addressing these shortcomings is crucial for Ecuador to enhance its connectivity, competitiveness, and economic growth in the global arena.

Information Technology Infrastructure

1. Secure Internet servers: Ecuador has 6711 secure internet servers, which is below the average of 458,294. Ecuador is ranked 76 out of 193 countries in this attribute.

2. Secure Internet servers (per 1 million people): Ecuador has 381.55 secure internet servers per 1 million people, significantly lower than the average of 14,067.17. Ecuador is ranked 104 out of 193 countries.

3. Individuals using the Internet (% of population): In Ecuador, 70.7% of the population uses the internet, which is above the average of 64.77%. Ecuador is ranked 98 out of 180 countries.

4. Fixed broadband subscriptions: Ecuador has 2,371,297 fixed broadband subscriptions, below the average of 6,591,956.35. Ecuador is ranked 53 out of 185 countries.

5. Mobile cellular subscriptions: Ecuador has 15,485,366 mobile cellular subscriptions, below the average of 42,526,463.87. Ecuador is ranked 65 out of 193 countries.

Summary

Ecuador lags behind the global average in key internet infrastructure metrics such as secure internet servers and fixed broadband subscriptions. However, the country performs relatively well in terms of the percentage of its population using the internet. These indicators are crucial as they reflect Ecuador's digital readiness and connectivity levels, which are vital for economic development, innovation, and competitiveness in the modern global economy.

Energy Consumption

Analysis of Renewable energy consumption (% of total final energy consumption): Ecuador's renewable energy consumption is 20.1%, which is below the attribute average of 32.18%. Ecuador ranks 107th out of 191 countries in this data set.

Analysis of CO2 emissions (kt): Ecuador's CO2 emissions are 34,431 kt, significantly below the attribute average of 171,895.94 kt. Ecuador ranks 63rd out of 188 countries in this data set.

Summary

Ecuador has a relatively low renewable energy consumption of 20.1%, placing it below the global average of 32.18%. In terms of CO2 emissions, Ecuador emits 34,431 kt, significantly less than the global average of 171,895.94 kt. These indicators are important as they show Ecuador's potential to further develop its renewable energy sector to reduce CO2 emissions and contribute to global sustainability goals.

Government Balance Sheet

Ecuador's net acquisition of financial assets (% of GDP) is slightly below the average of 2.45%, ranking 34th out of 87 countries. The country's net incurrence of liabilities, total (% of GDP) is above average at 9.56%, ranking 26th out of 92 countries.

When it comes to total reserves (% of total external debt), Ecuador's value of 12.65% is significantly below the average of 66.13%, placing the country at 93rd out of 102 countries. In terms of reserves and related items (BoP, current US$), Ecuador shows a negative value, ranking 140th out of 171 countries.

Moreover, Ecuador's total reserves minus gold (current US$) is well below the average, with a difference of -68986001533.26, ranking 86th out of 161 countries. The country's total reserves (includes gold, current US$) also falls below the average, with a difference of -78571430702, ranking 85th out of 161 countries.

Lastly, Ecuador's total reserves in months of imports stands at 3.68, below the average of 7.10, ranking 105th out of 151 countries.

Summary

Ecuador's macroeconomic indicators reveal a concerning trend of low reserves and high incurrence of liabilities compared to its GDP, indicating potential vulnerability in its financial stability. The country's low ranking in terms of reserves and liabilities highlights the importance of building up reserves to mitigate economic risks and uncertainties, as well as the need to manage liabilities effectively to ensure sustainable economic growth.

Government Revenue

1. Revenue, excluding grants (% of GDP): Ecuador's value is 26.18% of GDP, slightly below the average of 27.02%. Ecuador ranks 59 out of 122 countries included in the data.

2. Grants and other revenue (% of revenue): Ecuador's value is 32.75% of revenue, above the average of 23.54%. Ecuador ranks 22 out of 108 countries included in the data.

3. Social contributions (% of revenue): Ecuador's value is 19.53% of revenue, below the average of 22.29%. Ecuador ranks 47 out of 81 countries included in the data.

4. Taxes on goods and services (% of revenue): Ecuador's value is 23.80% of revenue, below the average of 31.82%. Ecuador ranks 93 out of 122 countries included in the data.

5. Taxes on international trade (% of revenue): Ecuador's value is 6.88% of revenue, above the average of 6.24%. Ecuador ranks 31 out of 101 countries included in the data.

6. Other taxes (% of revenue): Ecuador's value is 1.61% of revenue, below the average of 2.12%. Ecuador ranks 41 out of 106 countries included in the data.

7. Taxes on income, profits and capital gains (% of revenue): Ecuador's value is 15.43% of revenue, below the average of 24.66%. Ecuador ranks 92 out of 119 countries included in the data.

Summary

Ecuador's revenue composition shows strengths in grants and taxes on international trade, where it outperforms the global averages, positioning the country favorably in international trade scenarios. However, challenges are evident in areas such as taxes on goods and services and taxes on income, profits, and capital gains, where Ecuador falls below the average rankings. Understanding these indicators is crucial for policymakers to make informed decisions on revenue generation strategies, fiscal policies, and economic development plans to enhance Ecuador's financial stability and competitiveness.

Taxes

Tax revenue (% of GDP): Ecuador's tax revenue as a percentage of GDP is 12.49%, which is below the average of 16.72%. Ecuador ranks 89th out of 123 countries in this attribute data.

Customs and other import duties (% of tax revenue): Ecuador's customs and other import duties as a percentage of tax revenue is 7.61%, below the average of 9.01%. Ecuador holds the 39th rank out of 99 countries in this attribute data.

Taxes on income, profits and capital gains (% of total taxes): Ecuador's taxes on income, profits, and capital gains as a percentage of total taxes is 32.33%, lower than the average of 38.40%. Ecuador ranks 77th out of 120 countries in this attribute data.

Tariff rate, applied, weighted mean, all products (%): Ecuador's applied tariff rate on all products is 6.21%, higher than the average of 5.21%. Ecuador holds the 56th rank out of 153 countries in this attribute data.

Summary

Ecuador's tax revenue as a percentage of GDP, customs and import duties, taxes on income, profits, and capital gains, and applied tariff rate all show varying degrees of deviation from global averages, with corresponding rankings in comparison to other nations. These indicators are crucial for understanding Ecuador's fiscal policies, trade practices, and economic competitiveness on the global stage. Lower tax revenue and tariffs may indicate potential areas for reform to boost government income and stimulate trade, while the distribution of tax types highlights Ecuador's reliance on certain revenue sources.

Government Expenses

The Expense (% of GDP) for Ecuador is 32.87%, slightly above the average of 31.69%. Ecuador is ranked 55 out of 123 countries in this attribute.

The Compensation of employees (% of expense) in Ecuador is 30.91%, significantly higher than the average of 24.70%. Ecuador is ranked 43 out of 123 countries.

Goods and services expense (% of expense) in Ecuador stands at 20.52%, above the average of 14.77%. Ecuador is ranked 27 out of 122 countries in this aspect.

Interest payments (% of expense) make up 8.10% in Ecuador, slightly higher than the average of 6.85%. Ecuador is ranked 38 out of 121 countries.

Other expense (% of expense) is 5.68% in Ecuador, below the average of 8.29%. Ecuador ranks 64 out of 120 countries in this category.

Subsidies and other transfers (% of expense) account for 34.79% in Ecuador, notably lower than the average of 43.29%. Ecuador is ranked 78 out of 121 countries in this attribute.

Summary

Ecuador's expense as a percentage of GDP is slightly above the average, with a significant portion allocated to compensation of employees and goods/services expenses. Interest payments are slightly higher than average, while subsidies and other transfers are notably lower. These indicators are crucial as they provide insights into how the country allocates its resources, manages its debt, and supports its population and economy.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Aquaculture production (metric tons)	14/180
Fertilizer consumption (kilograms per hectare of arable land)	15/187
Food, beverages and tobacco (% of value added in manufacturing)	1/92
Insurance and financial services (% of service imports, BoP)	13/169
Insurance and financial services (% of commercial service imports)	14/169

Ranks in Bottom Decile For:

Attribute	Rank/Total
Other manufacturing (% of value added in manufacturing)	94/94
Trade in services (% of GDP)	165/171
Manufactures exports (% of merchandise exports)	138/152
Imports of goods and services (% of GDP)	147/163
Total reserves (% of total external debt)	93/102