Economy of Ecuador

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Ecuador
EcuadorEcuador
World economic rank 63rd (nominal)
65th (PPP)
currency US dollar (USD)
Trade
organizations 		WTO
Key figures
Gross domestic
product (GDP) 		$ 102.3 billion (nominal) (2017)
$ 192.6 billion ( PPP ) (2017)
GDP per capita $ 6,098 (nominal) (2017)
$ 11,482 (PPP) (2017)
GDP by economic sector Agriculture : 7.7%
Industry : 35.2%
Services : 56.9% (2017)
growth   2.7% (2017)
inflation rate 0.4% (2017)
Gini index 45.9 (2017)
Employed 8.09 million (2017)
Employed persons by economic sector Agriculture : 26.1%
Industry : 18.4%
Services : 55.5% (2017)
Unemployment rate 4.6% (2017)
Foreign trade
export 19.12 billion (2017)
Export goods Petroleum and gas, bananas, flowers, coffee
Export partner USA : 31.5%
Vietnam : 7.6%
Peru : 6.7%
Chile : 6.5% (2017)
import 19.03 billion (2017)
Import goods Machines, electronics, automobiles, consumer goods
Import partner USA : 22.8%
China : 15.4%
Colombia : 8.7%
Panama : 6.4% (2017)
Foreign trade balance −0.40 billion (2017)
public finances
Public debt 45% of GDP (2017)
Government revenue $ 32.3 billion (2017)
Government spending $ 37.7 billion (2017)
Budget balance −5.5% of GDP (2017)

Ecuador is the fourth poorest country in South America in terms of GDP per inhabitant according to purchasing power parity , after Guyana, Bolivia and Paraguay. It is 11,482  US dollars , the Bolivian 7,547 $, the neighbors Peru and Colombia 13,334 $ and $ 14,485. For comparison: the GDP per inhabitant according to purchasing power parity of Germany is $ 50,425. The economy of Ecuador is heavily dependent on oil production , which accounts for almost 60% of exports . Since 2000, Ecuador no longer has its own currency , but the US dollar is the official currency. Another peculiarity of the national economy of the Andean country are its numerous labor emigrants. About a fifth of Ecuadorians live abroad, especially in the USA and Spain .

In 2017, the country was ranked 160th out of 180 countries in the Index for Economic Freedom .

Economic and social situation

In terms of GDP per capita, Ecuador is the fourth poorest country in South America in terms of purchasing power parities. As in most Latin American countries, economic inequality is extremely high: while the top 20% earn around 58% of national income, the bottom 40% only receive 11%.

Ecuador has almost 14 million inhabitants and is one of the central states in South America. The population is less than a fifth as big as Germany, half as big as Peru, a good quarter as big as Colombia and almost twice as big as Bolivia. About 40% of the population is under 15 and only 5% over 65. The average age is 23 (42 in Germany) - in South America only Bolivians and Paraguayans are younger. The life expectancy of 73 years for men is only three years below that of Germany. The working population is a good four million people.

According to UNICEF, the country ranks 102nd worldwide with a child mortality rate (below 5) of 2.5%. 16% of newborns and 12% of five-year-olds are malnourished. 6% of the population lacks access to clean drinking water and 11% do not have adequate sanitary facilities. The situation of the rural population is significantly worse than that in the city.

According to the WHO , life expectancy for men at 70 years of age is in the South American midfield ( Bolivia is at the bottom with 63 years, Chile at the top with 74). The same applies to infant mortality (below 1) and child mortality (below 5) with 23 per thousand and 25 per thousand respectively - however, the gap between this and Bolivia (52/65) and Chile (8/10) is greater. 15% of the population live on less than a dollar a day - after Bolivia and Paraguay the highest value on the subcontinent. In contrast, when it comes to access to clean drinking water (89% in rural areas) and sanitary facilities (82%), Ecuador is only surpassed by Uruguay . One possible explanation is the high population density and, at the same time, low urbanization , which make development more urgent and cheaper at the same time (see the geography of Ecuador ). With 5.5% health expenditure in relation to GDP , Ecuador is in the lower midfield: Peru is at the bottom with 4.1%, Argentina 9.6% - but the successful country Chile only 6.1%. With 12 deaths per year per 100,000 people, HIV / AIDS does not play a major role in Ecuador, as in most countries in South America - the sad exceptions here are Guyana and Suriname with more than 150 deaths per 100,000. In some countries in Sub- Saharan Africa this number is in the four-digit range (in Germany it is "under 10"). Amazingly, according to WHO data, Ecuador has the second lowest rate of underage pregnancies after Chile with 5.6% - but this may also be due to outdated data. The neighboring country of Colombia leads the way here with 9.2%. The economic underdevelopment can also be seen from the fact that only 4.2% of Ecuadorians use the Internet (only in Paraguay and Bolivia there are fewer) and that there are only 11 phones per 100 inhabitants - less than half as many as in Chile, Argentina or Brazil (although the high population density should help here again).

Economic data

Over the past four years, GDP grew by 4.9% in real terms, which corresponds to a population growth of 1.4% p. a. around 3.5% per capita growth per year. Real domestic demand grew disproportionately by 5.6%. The inflation has since dollarisation moderate and relatively stable and was 2002-06 at an average of 5.7%. The current account averaged -0.8% of GDP and foreign direct investment 2.2% of GDP.

In July 2007, national debt was 25% of GDP, annual inflation was 2.6% and annual economic growth was 3.4%.

Economic data of Ecuador 1980–2007
Years 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07
GDP growth pc 1.0 0.6 −5.5 1.5 1.8 0.6 −8.5 8.1 −2.1 0.7 2.8 1.3 −0.2 2.5 −0.4 0.3 2.1 0.1 −8.2 0.9 9.2 0.1 2.2 6.5 3.3 3.0 1.8
Inflation
(consumer prices) 		13 16 16 48 31 28 23 30th 58 76 49 49 54 45 27 23 24 31 36 52 96 18th 13 8th 3 2 3 3
Current account
as% of GDP 		−4 −7 −8 −1 −2 1 −5 −10 −5 −6 −4 −6 −2 −4 −4 −4 −1 −3 −9 5 5 −3 −5 −1 −1 0 4th 4th

The worst economic crises in recent history are easy to read from the historical economic data. 1983 saw the debt crisis in Latin America for negative growth, 1986-87, the collapse of OPEC - the cartel and the subsequent fall of the oil level price. A severe banking and currency crisis followed in 1999–2000. One consequence of the permanent economic crises is that the per capita income in 2000 was below the 1980 level. The share of Ecuador in world economic output has fallen from 1.1 ‰ to 0.9 ‰ since 1980. The high inflation rates, especially between the debt crisis and dollarization, are also striking. The only years with a clearly positive current account are the crisis years 1999–2000, when the Sucre was massively devalued, and the last two years with their high oil prices and the completion of a second transandine pipeline .

Foreign trade

Exports

The export to Ecuador is mainly based on oil . In 2006 goods worth US $ 12.7 billion ( FOB ) were exported. Of this, $ 6.6 billion was crude oil, $ 1.2 billion bananas , $ 0.7 billion fishery products, $ 0.6 billion petroleum derivatives, $ 0.6 billion shrimp , $ 0.6 billion metals and Machines, $ 0.4 billion cut flowers , $ 0.2 billion cocoa, and $ 0.1 billion coffee . The oil sector thus accounts for 59% of all exports. Of the traditional exports of bananas, cocoa and coffee, only the first play an important role. Non-traditional exports such as metal goods, shrimp and cut flowers have grown strongly since the 1980s, but are still largely insignificant in relation to oil revenues.

The most important markets are the USA (54%), Peru (9%), Colombia (5%) and Chile (4%).

Imports

Since Ecuador does not have sufficient refining capacities, it has to introduce petroleum derivatives such as gasoline and diesel . In 2006, these accounted for around a quarter of all imports . The most important suppliers are the USA (25%), Colombia (15%), Venezuela (8%) and Brazil (7%).

Trade policy and free trade agreements

Ecuador experienced a period of radical trade liberalization between 1989 and 1994. Under President Rodrigo Borja , the average tariff was cut from over 40% to under 12%. The maximum rate of duty fell from 290% to 20% (only cars , especially used cars, were subject to higher customs duties). Furthermore, numerous non-tariff trade barriers were removed and the sucre was drastically devalued. Foreign direct investment was also made easier. Under Borjas' successor, Sixto Durán Ballén , Ecuador entered the Andean Pact and the WTO .

In 1991, Ecuador, along with the other Andean countries Colombia , Peru and Bolivia, was included in the Andean Trade Preference Act (ATPA) by the USA . With the tariff exemption for individual Andean agricultural products - such as cut flowers - farmers should be given a positive incentive to refrain from growing coca or opium poppies . The ATPA is part of the so-called anti-drug war ( War on Drugs ) of the USA, which, among other things, brought about the Plan Colombia . For Ecuador, the contract was extended to February 2008.

Negotiations are currently underway for a free trade agreement with Chile and membership in Mercosur . Negotiations for a free trade agreement with the USA were broken off in 2006 by the USA because of the energy policy of the Correa administration .

Monetary Policy and Dollarization

Front of the US one dollar banknote
Front of the US 20 dollar banknote
Ecuadorian 20,000 Sucres Banknote
The largest sucre note ever printed, worth just two dollars at the end of 1999

History of dollarization

On January 9, 2000, President announced Jamil Mahuad , which Ecuadorian currency Sucre abolish the dollar introduce as legal tender in the country. 22 days later, under pressure from the military and indigenous associations such as the CONAIE, he was overthrown, not least because of this decision, and replaced by his vice- president Gustavo Noboa . Nevertheless, in Ecuador people still pay with dólares today .

Previous dollarizations

Few countries had previously fully dollarized . Before that, this exchange rate regime only existed in a few semi-autonomous territories and states such as Panama (since the canal was built in 1904), the Marshall Islands and Palau (since 1944). A year after the dollarization in Ecuador followed El Salvador and later Liberia . Guatemala has the dollar as its official second currency.

Advantages and disadvantages

Dollarization - the adoption of a foreign currency as an official means of payment - means the end of any monetary policy , that is, the money supply and thus the interest rate can no longer be controlled by politics. Fiscal policy remains the only macroeconomic policy . In addition, the country is losing the seigniorage from issuing cash. Furthermore, there is no devaluation as a possible reaction to exogenous shocks. In return, the country receives a stable currency and the black market is eliminated.

Crisis in Ecuador 1998–2000

Sucre dollar exchange rate

After several economic shocks (war with Peru in 1995, El Niño in 1997, Russia - and the Asian crisis in 1997-8) as well as an all-time low in the price of oil, the country's external debt in 1998 amounted to 13 billion dollars - or more than two thirds of GDP a negative record in Latin America. In 1998 a banking and currency crisis developed in Ecuador . Several banks went bankrupt , the central bank increased the money supply to support the banking system, whereupon the Sucre devalued sharply. Due to foreign exchange market interventions - which could only slow the devaluation slightly - the central bank visibly lost its foreign exchange reserves . For two years, Ecuador sank into economic chaos. The inflation in 1999 was more than 60% in 2000 and almost 100% - a record in Latin America. The sucre continued to depreciate - 30% in 1998 and again 67% the following year. The Ecuadorian state lost access to the international credit market and domestic bank accounts were frozen to prop up the banking system. The central bank had lost control of all monetary policy parameters - inflation, the exchange rate and the money supply. The GDP fell in 1999 by a dramatic 30% from $ 20 billion to $ 14 billion (measured in Sucre by 6.2%). According to the Instituto Nacional de Estadísticas y Censos (INEC), the proportion of the poor doubled from 34% to 71%, and the proportion of the extremely poor almost tripled from 12% to 31%. Economic inequality, which had already increased in the early 1990s, continued to deteriorate. The share of the national income of the richest 20% increased from 52% in 1990 to 55% in 1995 and 61% in 1999. The share of the fifth quintile fell from 4.6% to 4% and only 2.5%. It is said that around 200,000 Ecuadorians emigrated between 1998 and 2000 alone. The Economist described the country as "the most unstable in Latin America" ​​in 2000. In fact, the US dollar had long since become the most important means of payment.

Development until today

The relevant international organizations, the International Monetary Fund , the Inter-American Development Bank and the World Bank , advocated dollarization. Since the dollarization, inflation has stabilized significantly (5.7% in 2002-06 and 2.6% in July 2007) and the banking system has recovered. The reasons for the latter are, not least, a moderately growing economy due to the high oil price and higher remittances from Ecuadorians living abroad, who are now the country's most important source of foreign currency after oil. The real exchange rate rose as a result of the higher inflation in the last few years compared to the USA to the level of the 1990s after it had been devalued sharply in 1998-2000. However, inflation seems to be slowly converging to international levels. On December 15, 2008, the country defaulted on foreign loan payments by failing to pay interest on a bond issued in 2000 and maturing in 2012. President Correa justified this move by saying that the loans taken out by previous governments were "illegitimate and the creditors ... immoral".

Today's banking

Some of the banks in Ecuador are organized into financial groups, including:

Labor migration

In the past 40 years, around 2.5 million Ecuadorians have emigrated as migrant workers , more than half of the country's current workforce. While this population shift has not reached the proportions of urbanization or land-to-land migration within Ecuador, it is relatively one of the larger emigration movements in modern history. The main destinations are the United States , Spain , Italy , the Benelux countries, Great Britain , Canada , Chile and Switzerland . About 800,000 Ecuadorians live in Spain and in Spanish schools Ecuadorians form the largest minority , ahead of Moroccans . Other authors name 500,000 Ecuadorians in Spain, of whom just 180,000 have a residence permit. In New York , 600,000 Ecuadorians make up the largest Latin American population. This makes New York the third largest city in Ecuador. Another 100,000 live in Chicago and Los Angeles , respectively, and another 60,000 in Washington, DC There are 60,000–120,000 Ecuadorians in Italy. According to a 2002 survey, 45% of the adult population would like to emigrate. The emigrants are typically between 18 and mid-30s and nearly a third of urban emigrants have a university education. In total, Ecuador has lost around 200,000 well-educated workers and citizens.

The remittances ( remittances ) from expatriate Ecuadorians have increased many times since the early 1990s and now have a huge macroeconomic impact. In 1991 remittances totaled $ 109 million (0.5% of GDP), two years later almost doubled, and in 2000, at 1.3 billion (8% of GDP), almost all of the proceeds from all non-oil exports. By comparison, international development aid in the same year was $ 120 million plus $ 600 million in loans. In the last few years remittances have risen significantly to more than 2 billion in 2005 (6% of GDP). For years, remittances have been greater than debt servicing for Ecuador's external debts. The transfer costs are between 4% and 30%. In the southern Sierra, such as the provinces of Azuay , Cañar and Loja , 60% of families have relatives who live abroad. According to a study by the Inter-American Development Bank , 61% of the transfer is used for daily essentials, 22% for investments and 17% for "luxury expenses". Two thirds of the recipients of the payments are women. The recipients are typically families with above average incomes.

Informal sector and micro-enterprises

According to an extensive study by USAid , there are around 700,000 micro-enterprises in Ecuador with more than a million people working (other estimates are 950,000 to 1.7 million people). More than a third of all urban lower and middle class families run a micro-enterprise. Overall, the sector generates more than a quarter of Ecuador's GDP . Only a quarter of the companies are registered (have an RUC) and only 15% are registered in the social security system. Women are clearly over-represented in this informal sector. 55% of micro-enterprises are active in trade, 26% in services and 19% in production. Half of all retailers sell food and beverages. Female micro-entrepreneurs in the service sector have restaurants (68%) or hairdressing salons (17%), men run bus or taxi companies (35%), car repair shops (17%) or restaurants (17%). Women in production mostly manufacture textiles (52%), men furniture (24%).

70% of all micro-enterprises consist of a single person and have no employees and only 10% of all companies have ever hired additional workers in their history, although the companies have been in existence for an average of more than 8 years. Almost all micro-entrepreneurs are employed full-time and year-round in their company and for two thirds of the families their company generates more than half of the family income. The micro-enterprises are regionally concentrated in Guayas ( Guayaquil ) (42%) and Pichincha ( Quito ) (18%). Two thirds of the companies are from the Costa, only 32% from the Sierra - although 38% of the population lives in the Sierra. The Oriente is also clearly underrepresented.

Unlike in many other countries, Ecuador's micro-entrepreneurs sell almost exclusively to end customers and only 0.2% of micro-companies produce for export. This implies less elastic demand and rapid market saturation.

oil

Production and reserves

In 1967, a US consortium found oil in the Orient. Since a pipeline to the Pacific was completed five years later, Ecuador has been an important oil producer. Ecuador produces 509,000 barrels of oil a day (25 million tons per year). It thus produces around 0.6% of world production and is 30th worldwide and fourth in South America after Venezuela , Brazil and Argentina . Ecuador uses around 160,000 barrels a day, exporting almost 70% of its production. The secured reserves amount to 4.5 billion barrels, the theoretical production range thus around 25 years. In terms of reserves, Ecuador ranks 25th worldwide and third in South America (ahead of Argentina).

Pipelines and refineries

The oil is transported to the Pacific via two pipeline systems that are a total of 3,346 km long. The first pipeline ( Sistema de Oleoductos Trans-ecuatoriano de Petroecuador , SOTE) was inaugurated in 1972 and ends at the Balao oil port near Esmeraldas. It runs from Nueva Loja over the Paso de Papallacta past Quito to Esmeraldas and has a capacity of 400,000 bpd . In 1987 the pipeline was out of service for more than six months due to an earthquake damage. The second major pipeline Oleoducto de Crudos Pesados (OCP) was inaugurated in 2003. The OCP was co-financed by WestLB and has been criticized by environmentalists. It also runs from Nueva Loja to Esmeraldas, but not parallel to the SOTE all the time. The capacity of the OCP is 450,000 bpd, the total length is 503 km. In addition, the Oleoducto Transandino de Colombia (or TransAndino), which brings the oil to the Pacific via Tumaco , is used on a smaller scale .

More than 99% of the production is mined in the Orient , almost everything in Sucumbíos . 86% of it promotes Petroecuador , the rest a number of foreign companies. The most important fields are called Shushufindi-Aguarico , Sacha and Libertador . The country's refinery capacities are currently 177,000 bpd, 110,000 of which in Esmeraldas, 46,000 in La Libertad and 21,000 in the Orient. A fourth refinery with 200,000 bpd is planned. Oil and natural gas cover 70% of the country's primary energy needs , the rest is covered by biomass and hydropower .

Nationalization tendencies

In May 2006, the Ecuadorian government unilaterally terminated the production agreements with the US company Occidental Petroleum , which had the largest production share in the national deposits and was also the largest foreign investor in Ecuador. The fields are transferred to the state-owned extraction company Petroecuador . In response, the US government broke off negotiations with Ecuador on a trade agreement . Occidental reported the Ecuadorian state and the case is being heard by the International Center for the Settlement of Investment Disputes . The background to the termination of the development contracts are the conditions in the contracts between Ecuador and Occidental: Occidental sold shares in the development areas to a Canadian company at the end of 2005, but the contract between the two sides did not allow the development areas to be resold. According to the Ecuadorian government, Occidental Petroleum has broken the contract and provoked the termination.

Environmental problems and human rights violations

Oil production in Ecuador led from 1964 to 1992 to the oil spill in the northern Amazon lowlands of Ecuador . There are still major environmental burdens - especially due to defective pipelines. Former Ecuadorian President Rafael Correa reported that the contamination caused by the Texaco company alone during its twenty years of activity in the Amazon was thirty times higher than that of the Exxon Valdez in Alaska. In a lawsuit, plaintiffs accused Texaco of leaving over 68 billion liters of oily sewage in the environment. (The Exxon Valdez had lost 42 million liters of oil at the time). After 18 years of legal battle, the US oil company Chevron , which acquired Texaco in 2001, was sentenced in January 2012 by an Ecuadorian court of appeal to pay $ 18 billion in compensation for the massive destruction of the environment in the Ecuadorian rainforest. The group announced that it would take action against the judgment in a court in the USA. Since Chevron hardly owns any tangible assets in Ecuador, investors in the US assume that the ruling will hardly cost the company anything.

Numerous human rights violations against the indigenous people are also reported in connection with oil production. In 2005, most of the oil companies' secret contracts with the Ecuadorian army were revealed, in which they committed themselves to a protective function for the private companies and to arrest indigenous Amazonas inhabitants in the vicinity of the production facilities.

There are large oil reserves in the Yasuni UNESCO Biosphere Reserve in the Amazon lowlands. The Correa government's Ministry of Energy planned in 2007 with the Yasuní-ITT initiative not to extract this oil. Instead, they envisioned the international community to pay Ecuador half of the net profit the country would make by exploiting the oil for 30 years (calculated at $ 350 million annually over 30 years). The globally unique and highly acclaimed initiative failed in 2013 due to a lack of support from the international community. In the same year, oil production began in the national park.

In complete contrast to the ITT initiative, Ecuador's simultaneous efforts to promote the exploitation of natural resources in the south-eastern rainforest province of Morona-Santiago - in which, despite the huge areas of primary rainforests worthy of protection, there are no major protected areas so far. To this end, mining concessions were awarded to Chinese companies, among other things. Ecuador has received billions in loans from China for the construction of dams and roads and is demanding more than 80 percent of Ecuador's oil production. The Chinese company ExplorCobres has acquired 410 km² of land in the province to open a copper mine. The local indigenous peoples are resisting this; Above all, there was a resistance movement of the Shuar , which was ignored in the planning. After massive protests and clashes between companies and indigenous peoples, the Correa administration issued a nationwide so-called "mining mandate" in 2007, which ended concessions for which neither an environmental impact assessment nor consideration of the ancestral ethnic groups had taken place and which temporarily prevented new concessions. However, the mandate was weakened and circumvented over the course of Correa's ten-year reign. Instead, the conflict widened and a village was forcibly evacuated and destroyed in 2016. Several soldiers and police officers were wounded in the heavy clashes that followed; one policeman was killed. The government did not respond to the attempts to clarify by the indigenous umbrella organization CONFENIAE and the environmental organization Acción Ecológica .

Flowers

Cut flowers for export have been grown on a large scale in Ecuador since the late 1980s. Today Ecuador is the fourth largest exporter in the world after the Netherlands , Colombia and Kenya . After crude oil, bananas, fishery products, metal goods and shrimp, flowers are Ecuador's sixth most important export. Since a flower industry emerged in Colombia in the late 1960s, the world market for flowers is now largely globalized . More than 60 countries export cut flowers. After the export share of cut flowers had already been 6% in 2002 and flowers ranked third in exports after oil and bananas, it has now fallen back to 3%. In 2006, 114,000 tons of flowers were exported for $ 400 million. By far the most important flower variety are roses , which make up around three quarters of all exports. 70% of all exports go to the USA - there 70% of all cut flowers come from South America, almost half of them from Ecuador, the rest almost exclusively from Colombia. Ecuador is also the most important flower supplier for Russia, Japan and numerous countries in the Middle East, but not for Europe. The export takes place exclusively by plane via Quito Airport .

Flower production in Ecuador is based on the favorable production factors of land, water and labor as well as the equatorial sun , which is perfect for flower growing, and the diverse topography , which allows perfectly coordinated conditions for each type of flower. The main cultivation areas are the north of the Pichincha Province around the city of Cayambe and the Chimborazo Province. Production is very labor, capital and technology-intensive. The flowers are grown in winter gardens with extensive irrigation systems and a high level of use of pesticides , artificial fertilizers and fungicides . Around 10 workers are required per hectare of winter garden. The flowers are grown by around 400 companies, practically all Ecuadorian hacendados or international companies, many of them from Colombia. A typical plantation has around 25–50 hectares and 250–500 workers.

The working conditions in the plantations are poor, the exposure to chemicals is extremely high and the working hours are long and flexible. Unions are not allowed. Payment according to a piecework system results in extremely unsolid working conditions. Child labor, on the other hand, is rarely found.

tourism

In recent years tourism has also developed into an important industry, also because Ecuador is one of the countries with the highest biodiversity in the world. Ecuador also offers a variety of landscapes that are second to none. The Galápagos Islands , the Strait of the Volcanoes and the tropical mountain forest on the eastern slope of the Andes are mentioned. In addition, the colonial center of the capital Quito was the first place ever to be included in the UNESCO World Heritage Site .

Economic history

The external debt of Ecuador grew ninefold from 1975 to 1980, in the following five years again by 74% and by 1988 again by 25%. 1988 was rescheduled. In 1998, external debt was $ 13 billion, or more than two-thirds of GDP, the highest in Latin America.

literature

General

  • Marcelo M. Giugale, Vicente Fretes-Cibils and José Roberto López Calix (eds.): Ecuador - An Economic and Social Agenda in the New Millennium . World Bank, Washington, DC 2003, ISBN 0-8213-5545-7 .

Economic history

  • David W. Schodt: Ecuador: an Andean enigma . Westview Press, Boulder 1987, ISBN 0-8133-0230-7 .
  • Alberto Acosta: Breve historia económica del Ecuador . 2nd Edition. Corp. Editora Nacional, Quito 2004, ISBN 9978-84-210-1 .

Flower industry

  • Larry Sawers: Nontraditional or New traditional Exports: Ecuador's Flower Boom . In: Latin American Research Review . tape 40 , no. October 3 , 2005 ( muse.jhu.edu [PDF]).
  • Tanya Korovkin: Cut-Flower Exports, Female Labor, and Community Participation in Highland Ecuador . In: Latin American Perspectives, . tape 30 , no. July 3 , 2003, JSTOR : 3185058 .
  • Ginger Thimpson: Behind Roses' Beauty, Poor and Ill Workers . In: New York Times . February 13, 2003 ( query.nytimes.com ).

Informal sector

  • USAid (Ed.): Microempresas y Microfinanzas en Ecuador . March 2005 (Spanish).

Dollarization

  • Rubén Berríos: Cost and benefit of Ecuador's dollarization experience . In: Perspectives on Global Development and Technology . tape 5 , no. 1 . Brill Academic Publishers, March 2006, pp. 55–68 ( online for a fee ).

emigration

  • CXI Asamblea Plenaria Conferencia Episcopal Ecuatoriana (Ed.): En la Iglesia Nadie es Extranjero. Jornadas sobre Migraciones Ecuador-España . Brill Academic Publishers, Quito, Ecuador October 31, 2003 (Spanish, anthology of nine articles).

Individual evidence

  1. ↑ Gross domestic product 2016 (PPP) (PDF; 14 kB) In: The World Bank: World Development Indicators database . World Bank. February 3, 2017. Retrieved February 5, 2018.
  2. ↑ [1] Retrieved January 29, 2018
  3. ↑ [2] Retrieved January 29, 2018
  4. ↑ [3] Retrieved January 29, 2018
  5. ↑ [4] Retrieved January 29, 2018
  6. ↑ [5] Retrieved January 29, 2018
  7. ↑ [6] Retrieved January 29, 2018
  8. ↑ [7]
  9. ↑ [8] Retrieved January 29, 2018
  10. ↑ [9] Retrieved January 29, 2018
  11. ↑ [10] Retrieved January 29, 2018
  12. ↑ Country Rankings: World & Global Economy Rankings on Economic Freedom. Retrieved December 25, 2017 .
  13. ↑ unicef.org
  14. ↑ Unicef
  15. ↑ who.int
  16. ↑ a b c economist.com
  17. ↑ bce.fin.ec
  18. ↑ International Monetary Fund, calculation user: Prissantenbär
  19. ↑ International Monetary Fund
  20. ↑ Export statistics of the central bank ( Memento from March 18, 2009 in the Internet Archive )
  21. ↑ CXI Asamblea Plenaria Conferencia Epispocal Ecuatoriana (2003), pp. 22-23.
  22. ↑ Berríos (2006): 57-60
  23. ↑ Berríos (2006)
  24. ^ Ecuador officially defaulted on part of its foreign debt
  25. ↑ CXI Asamblea Plenaria Conferencia Epispocal Ecuatoriana (2003), p. 15.
  26. ↑ Volker Feser: Ecuador . M. Müller, Erlangen 2005, ISBN 3-89953-189-2 , pp. 14-16.
  27. ↑ CXI Asamblea Plenaria Conferencia Epispocal Ecuatoriana (2003), pp. 24-26, 40.
  28. ↑ World Bank (PDF; 23 kB)
  29. ↑ CXI Asamblea Plenaria Conferencia Epispocal Ecuatoriana (2003), pp. 28-53.
  30. ↑ USAid (2005): Microempresas y Micrifinanzas en Ecuador
  31. ↑ CIA World Factbook
  32. ↑ amazonwatch.org ( Memento of September 28, 2007 in the Internet Archive )
  33. ↑ geocities.com ( Memento of October 11, 2007 in the Internet Archive ); monografias.com
  34. ↑ teleSUR: Estadounidense Texaco podría ser enjuiciada por crímenes de lesa humanidad contra Ecuador ( Memento of September 26, 2007 in the Internet Archive ), 29/04/07
  35. ^ Ecuador President Rails Against Chevron for Alleged Environmental Damage. In: ChevronToxico. April 26, 2007, accessed January 5, 2012 .
  36. ^ Helge Buttkereit: Ecuador: verdict against Chevron confirmed. In: amerika21. January 5, 2012, accessed January 5, 2012 . Judges double billions in fine against oil company Chevron. In: Spiegel Online. January 4, 2012, accessed January 5, 2012 .
  37. ↑ Telepolis: South American governments defy oil companies from better conditions (from May 2, 2006)
  38. ↑ Ecuador Biosphere Reserves
  39. ↑ taz article: "Demanding instead of promoting" Rainforest conservation in Ecuador (from May 4, 2007)
  40. ↑ a b Jan Christoph Wiechmann: Poison arrows against a great power - an indigenous people in South America takes on China , Stern from January 10, 2019, online version , queried on April 1, 2019.
  41. ↑ a b Silvia Ribeiro: Ecuador's government against indigenous people and environmentalists , La Jornada / poonal, Mexico City, January 7, 2017, in [amnesty-ecuador.de/Assets/Docs/Artikelsammlung2010-2016.pdf Amnesty Ecuador, Artikelammlung2010 -2016], pp. 1-3.
  42. ↑ Larry Sawers (2005)
  43. ↑ Korovkin (2003)
  44. ↑ Berríos (2006), p. 57.

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