Market Research In Ecuador

Ecuador Profile:

  • Ecuador, officially the Republic of Ecuador is a representative democratic republic in north-western South America.
  • One of 17 megadiverse countries in the world, Ecuador hosts many endemic plants and animals, such as those of the Galápagos Islands.
  • Ecuador is a member of the United Nations and many regional groups, including the Rio Group, the Latin American Economic System, the Latin American Energy Organization, the Latin American Integration Association, the Bolivarian Alliance for the Peoples of Our America, the Andean Community of Nations, the Union of South American Nations (UNASUR) and The Bank of the South
  • China has become Ecuador’s largest foreign lender since Quito defaulted in 2008, allowing the government to maintain a high rate of social spending; Ecuador contracted with the Chinese government for more than $9.9 billion in forwarding oil sales, project financing, and budget support loans as of December 2013.
  • In March, 2015 Ecuador imposed tariff surcharges from 5% to 45% on an estimated 32% of imports.

Ecuador Economy:

  • Ecuador is a middle-income country with a developing economy.
  • Ecuador’s economy is the eighth largest in Latin America and is highly dependent on commodities, namely petroleum and agricultural products.
  • Petroleum resources accounted for more than half of the country’s export earnings and approximately 25% of public sector revenues in recent years.
  • The level of foreign investment in Ecuador continues to be one of the lowest in the region as a result of an unstable regulatory environment, weak rule of law, and the crowding-out effect of public investments.
  • Ecuador’s economy fell into recession in 2015 and remained in recession in 2016. As a result, CORREA cut the budget twice in 2015, and reduced it further in 2016.

Ecuador Facts:

  • Population: 16.3 million
  • Capital: Quito
  • Largest city: Guayaquil
  • Area: 283,561 sq km
  • Major language: Spanish (Castilian) 93%, Quechua 4.1%, other indigenous 0.7%
  • Major religion: Roman Catholic 74%, Evangelical 10.4%, Jehovah’s Witness 1.2%, other 6.4%, atheist 7.9%, agnostic 0.1%
  • Life expectancy: 74 years (Male), 80.1 years (Female)
  • Monetary unit: 1 US Dollar(US$, USD) = 100 Cents
  • Main exports: Petroleum, bananas, cut flowers, shrimp, cacao, coffee, wood, fish
  • GNI per Capita: $11,050

Our Market Research Services in Ecuador:

We Employ A Wide Range of Research Techniques in Ecuador:

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