's successor, Rafael CORREA, raised the specter of debt
default - but Ecuador has paid its debt on time. He also decreed a
higher windfall revenue tax on private oil companies, then sought to
renegotiate their contracts to overcome the debilitating effect of
the tax. This generated economic uncertainty; private investment has
dropped and economic growth has slowed significantly.

GDP (purchasing power parity):

$98.71 billion (2007 est.)

GDP (official exchange rate):

$44.18 billion (2007 est.)

GDP - real growth rate:

2% (2007 est.)

GDP - per capita (PPP):

$7,200 (2007 est.)

GDP - composition by sector:

agriculture: 6.7%
industry: 35.1%
services: 58.2% (2007 est.)

Labor force:

4.51 million (urban) (2007 est.)

Labor force - by occupation:

agriculture: 8%
industry: 24%
services: 68% (2001)

Unemployment rate:

8.8% (2007 est.)

Population below poverty line:

38.3% (2006)

Household income or consumption by percentage share:

lowest 10%: 2%
highest 10%: 35%
note: data for urban households only (October 2006)

Distribution of family income - Gini index:

46
note: data are for urban households (2006)

Investment (gross fixed):

21.9% of GDP (2007 est.)

Budget:

revenues: $13.46 billion
expenditures: planned $11.96 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

33.1% of GDP (2007 est.)

Inflation rate (consumer prices):

2.3% (2007 est.)

Central bank discount rate:

10.72% (31 December 2007)

Commercial bank prime lending rate:

12.08% (31 December 2007)

Stock of money:

$4.395 billion (31 December 2007)

Stock of quasi money:

$7.974 billion (31 December 2007)

Stock of domestic credit:

$8.926 billion (31 December 2007)

Agriculture - products:

bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains,
sugarcane; cattle, sheep, pigs, beef, pork, dairy products; balsa
wood; fish, shrimp

Industries:

petroleum, food processing, textiles, wood products, chemicals

Industrial production growth rate:

1.4% (2007 est.)

Electricity - production:

14.84 billion kWh (2006 est.)

Electricity - consumption:

12.9 billion kWh (2006 est.)

Electricity - exports:

38.53 million kWh (2006 est.)

Electricity - imports:

861 million kWh (2006 est.)

Electricity - production by source:

fossil fuel: 81%
hydro: 19%
nuclear: 0%
other: 0% (2001)