Ecuador

Country Summary

2023 population pyramid

Introduction

Background

The region known today as Ecuador was a Spanish colony until 1822 and became an independent republic in 1830. Between 1904 and 1942, Ecuador lost territory in conflicts with its neighbors. The country has been politically unstable for much of its recent history, with 20 constitutions since gaining independence.

Geography

Area

total: 283,561 sq km
land: 276,841 sq km
water: 6,720 sq km

Climate

tropical along coast, becoming cooler inland at higher elevations; tropical in Amazonian jungle lowlands

Natural resources

petroleum, fish, timber, hydropower

People and Society

Population

total: 18,309,984
male: 9,023,170
female: 9,286,814 (2024 est.)

Ethnic groups

Mestizo (mixed Indigenous and White) 77.5%, Montubio 7.7%, Indigenous 7.7%, White 2.2%, Afroecuadorian 2%, Mulatto 1.4%, Black 1.3%, other 0.1% (2022 est.)

Languages

Spanish (Castilian; official) 98.6%, indigenous 3.9% (Quechua 3.2%, other indigenous 0.7%), foreign 2.8%, other 0.6% (includes Ecuadorian sign language); note - (Quechua and Shuar are official languages of intercultural relations; other indigenous languages are in official use by indigenous peoples in the areas they inhabit) (2022 est.)

Religions

Roman Catholic 68.2%, Protestant 19% (Evangelical 18.3%, Adventist 0.6%, other Protestant 0.2%), Jehovah's Witness 1.4%, other 2.3%, none 8.2% don't know/no response 1% (2023 est.)

Population growth rate

0.94% (2024 est.)

Government

Government type

presidential republic

Capital

name: Quito

Executive branch

chief of state: President Daniel NOBOA Azin (since 23 November 2023); Vice President Verónica ABAD Rojas (since 23 November 2023); the president is both chief of state and head of government
head of government: President Daniel NOBOA Azin (since 23 November 2023); Vice President Verónica ABAD Rojas (since 23 November 2023)

Legislative branch

description: unicameral National Assembly or Asamblea Nacional (137 seats; 116 members directly elected in single-seat constituencies by simple majority vote, 15 members directly elected in a single nationwide constituency by open-list proportional representation vote, and 6 directly elected in multi-seat constituencies for Ecuadorians living abroad by simple majority vote; members serve 4-year terms); note - all Assembly members have alternates from the same party who cast votes when a primary member is absent, resigns, or is removed from office

Economy

Economic overview

highly informal South American economy; USD currency user; major banana exporter; hard hit by COVID-19; macroeconomic fragility from oil dependency; successful debt restructuring; China funding budget deficits; social unrest hampering economic activity

Real GDP (purchasing power parity)

$195.477 billion (2022 est.)
$189.88 billion (2021 est.)
$182.165 billion (2020 est.)

Real GDP per capita

$10,900 (2022 est.)
$10,700 (2021 est.)
$10,400 (2020 est.)

Agricultural products

sugarcane, bananas, oil palm fruit, milk, maize, rice, plantains, chicken, cocoa beans, pineapples (2022)

Industries

petroleum, food processing, textiles, wood products, chemicals

Exports

$35.92 billion (2022 est.)
$29.037 billion (2021 est.)
$22.373 billion (2020 est.)

Exports - partners

US 27%, China 17%, Panama 14%, Chile 4%, Colombia 3% (2022)

Exports - commodities

crude petroleum, shellfish, bananas, fish, refined petroleum (2022)

Imports

$36.051 billion (2022 est.)
$28.128 billion (2021 est.)
$19.874 billion (2020 est.)

Imports - partners

US 26%, China 23%, Colombia 6%, Peru 4%, Brazil 4% (2022)

Imports - commodities

refined petroleum, coal tar oil, cars, natural gas, soybean meal (2022)


Page last updated: Thursday, June 13, 2024