Summary- Mining, manufacturing and utilities activities contributed 22.4% to the gross value added (GVA) in 2017, followed by wholesale, retail and hotels (13.1%), and construction (11.4%). In nominal terms, the three sectors are expected to grow by 0.6%, 1.4% and 2.8% respectively in 2018.
Ken research’s Pestle Insights: Macroeconomic Outlook Report- Ecuador identifies the country as an investment destination by analysing political, economic, social, technological, legal and environmental factors. The report helps in understanding the market dynamics and business potentials by analysing various risk factors that are likely to affect the business. The report also studies the country’s geography and analyses the best performing countries and the industries operating there.
Ecuador is a north-western south- American country with a population of over 15.8 million. It is bounded by Columbia in the north, Peru in the south and east and Pacific Ocean in the west. The capital city is Quito, while the largest city is Guayaquil. Ecuador gained its independence in 1820 from the Spanish regime and emerged as a sovereign in 1830. Ecuador’s official language is Spanish and is one of the 17 mega diverse countries of the world. • It is one of the developing countries and heavily depends on other countries for commodities like petroleum, agricultural products. It is a democratic republic nation and the first country to enforce rights of nature. Ecuador lost around 61% of its land area to due to conflict with the neighbouring countries of Brazil, Columbia and Peru. Despite its small size, the country is located in a strategic position in the pacific borderline and is known for its rich diversity culturally and ecologically.
Ever since the earthquake in 2016, the country has heavily invested in infrastructure. A lion’s share of its foreign investments comes from the European nations. The transport and logistic of the country have grown tremendously and has seen a shift from World Bank’s lpi index of 86th to 74th in just two years.
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