erity program that resulted in
economic stabilization, with inflation cut in half and international
reserves boosted to a record $1.3 billion. Growth in 1993 was perhaps
only 2% due to falling export prices, notably oil, and slow progress
on privatization.
National product:
GDP - purchasing power equivalent - $41.8 billion
National product real growth rate:
2% (1993 est.)
National product per capita:
$4,000 (1993 est.)
Inflation rate (consumer prices):
31% (1993)
Unemployment rate:
8% (1992)
Budget:
revenues:
$1.9 billion
expenditures:
$1.9 billion, including capital expenditures of $NA (1992)
Exports:
$3 billion (f.o.b., 1992)
commodities:
petroleum 42%, bananas, shrimp, cocoa, coffee
partners:
US 53.4%, Latin America, Caribbean, EC countries
Imports:
$2.5 billion (f.o.b., 1992)
commodities:
transport equipment, vehicles, machinery, chemicals
partners:
US 32.7%, Latin America, Caribbean, EC countries, Japan
External debt:
$12.7 billion (1992)
Industrial production:
growth rate 3.9% (1991); accounts for almost 30% of GDP, including
petroleum
Electricity:
capacity:
2,921,000 kW
production:
7.676 billion kWh
consumption per capita:
700 kWh (1992)
Industries:
petroleum, food processing, textiles, metal works, paper products,
wood products, chemicals, plastics, fishing, timber
Agriculture:
accounts for 18% of GDP and 35% of labor force (including fishing and
forestry); leading producer and exporter of bananas and balsawood;
other exports - coffee, cocoa, fish, shrimp; crop production - rice,
potatoes, manioc, plantains, sugarcane; livestock sector - cattle,
sheep, hogs, beef, pork, dairy products; net importer of foodgrains,
dairy products, and sugar
Illicit drugs:
significant transit country for derivatives of coca originating in
Colombia, Bolivia, and Peru; minor illicit producer of coca; importer
of precursor chemicals used in production of illicit narcotics;
important money-laundering hub
Economic aid:
recipient:
US commitments, including Ex-Im (FY70-89), $498 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-89), $2.15
billion; Communist countries (1970-89), $64 million
Currency:
1 sucre (S/) = 100 centavos
Exchange rates:
sucres (S/) per US$1 - 1,947.1 (October 1993), 1,534.0 (1992),
1,046.25 (1991), 767.8 (1990), 767.78 (1990), 526.35 (1989)
Fiscal year:
calendar year

@Ecu