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The economy of Ecuador is the eighth largest in Latin America and the 69th largest in the world by total GDP. [17] Ecuador's economy is based on the export of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from Ecuadorian emigrants employed abroad. [18] In 2017, remittances constituted 2.7% of Ecuador's GDP ...
These factors highlighted the Government of Ecuador's unsustainable economic policy mix of large fiscal deficits and expansionary money policy and resulted in a 7.3% contraction of GDP, annual year-on-year inflation of 52.2%, and a 65% devaluation of the national currency in 1999.
The Republic of Ecuador continues to produce its one centavo penny, which is minted by the Portuguese National Mint. Ecuador's decision to adopt the US dollar as its official currency originated with bank bailouts by the government, devaluation of its currency, and the government's fiscal deficit in 1999.
By buying-back over $1.5 billion of its discounted existing bonds with cheaper new money, Ecuador will realise almost half a billion dollars of savings over a 17-year period to invest in ...
Venezuela was the 21st largest, with 877 thousand barrels / day, Colombia in 22nd with 886 thousand barrels / day, Ecuador in 28th with 531 thousand barrels / day and Argentina 29th with 507 thousand barrels / day. As Venezuela and Ecuador consume little oil and export most of their production, they are part of OPEC. Venezuela had a big drop in ...
Countries by total wealth, 2022 (2023 publication) National net wealth, also known as national net worth, is the total sum of the value of a country's assets minus its liabilities.
In Ecuador alone, there were 2,795 retirees collecting Social Security. That's up from just over 300,000 retirees collecting Social Security from abroad in 2008 .
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