(CBS)
What is now Ecuador formed part of the northern Inca Empire until the Spanish conquest in 1533.
Quito became a seat of Spanish colonial government in 1563 and part of the Viceroyalty of New Granada in 1717.
The territories of the Viceroyalty - New Granada (Colombia), Venezuela, and Quito - gained their independence between 1819 and 1822 and formed a federation known as Gran Colombia. When Quito withdrew in 1830, the traditional name was changed in favor of the "Republic of the Equator."
Between 1904 and 1942, Ecuador lost territories in a series of conflicts with its neighbors.
A border war with Peru that flared in 1995 was resolved in 1999.
Although Ecuador marked 25 years of civilian governance in 2004, the period has been marred by political instability.
Protests in Quito have contributed to the mid-term ouster of Ecuador's last three democratically elected Presidents.
Source: CIA World Fact Book
(AP)
Population: 13,755,680 (July 2007 est.)
Age structure: 0-14 years: 32.6% (male 2,282,319/female 2,196,685)
15-64 years: 62.3% (male 4,271,848/female 4,301,149)
65 years and over: 5.1% (male 330,302/female 373,377) (2007 est.)
Median age: total: 23.9 years
male: 23.4 years
female: 24.3 years (2007 est.)
Population growth rate: 1.554% (2007 est.)
Birth rate: 21.91 births/1,000 population (2007 est.)
Death rate: 4.21 deaths/1,000 population (2007 est.)
Net migration rate: -2.16 migrant(s)/1,000 population (2007 est.)
Sex ratio: at birth: 1.05 male(s)/female
under 15 years: 1.039 male(s)/female
15-64 years: 0.993 male(s)/female
65 years and over: 0.885 male(s)/female
total population: 1.002 male(s)/female (2007 est.)
Infant mortality rate: total: 22.1 deaths/1,000 live births
male: 26.5 deaths/1,000 live births
female: 17.47 deaths/1,000 live births (2007 est.)
Life expectancy at birth: total population: 76.62 years
male: 73.74 years
female: 79.63 years (2007 est.)
Total fertility rate: 2.63 children born/woman (2007 est.)
HIV/AIDS - adult prevalence rate: 0.3% (2003 est.)
HIV/AIDS - people living with HIV/AIDS: 21,000 (2003 est.)
HIV/AIDS - deaths: 1,700 (2003 est.)
Nationality: noun: Ecuadorian(s)
adjective: Ecuadorian
Ethnic groups: mestizo (mixed Amerindian and white) 65%, Amerindian 25%, Spanish and others 7%, black 3%
Religions: Roman Catholic 95%, other 5%
Languages: Spanish (official), Amerindian languages (especially Quechua)
Literacy: definition: age 15 and over can read and write
total population: 91%
male: 92.3%
female: 89.7% (2001 census)
(AP)
Ecuador has substantial petroleum resources, which have accounted for 40% of the country's export earnings and one-third of central government budget revenues in recent years. Consequently, fluctuations in world market prices can have a substantial domestic impact. In the late 1990s, Ecuador suffered its worst economic crisis, with natural disasters and sharp declines in world petroleum prices driving Ecuador's economy into free fall in 1999. Real GDP contracted by more than 6%, with poverty worsening significantly. The banking system also collapsed, and Ecuador defaulted on its external debt later that year. The currency depreciated by some 70% in 1999, and, on the brink of hyperinflation, the MAHAUD government announced it would dollarize the economy. A coup, however, ousted MAHAUD from office in January 2000, and after a short-lived junta failed to garner military support, Vice President Gustavo NOBOA took over the presidency. In March 2000, Congress approved a series of structural reforms that also provided the framework for the adoption of the US dollar as legal tender. Dollarization stabilized the economy, and growth returned to its pre-crisis levels in the years that followed. Under the administration of Lucio GUTIERREZ - January 2003 to April 2005 - Ecuador benefited from higher world petroleum prices. However, the government under Alfredo PALACIO reversed economic reforms that reduced Ecuador's vulnerability to petroleum price swings and financial crises, allowing the central government greater access to oil windfalls and disbursing surplus retirement funds.
GDP (purchasing power parity): $61.52 billion (2006 est.)
GDP (official exchange rate): $32.73 billion (2006 est.)
GDP - real growth rate: 4.1% (2006 est.)
GDP - per capita (PPP): $4,500 (2006 est.)
GDP - composition by sector: agriculture: 6.3%
industry: 33.5%
services: 60.2% (2006 est.)
Labor force: 4.57 million (urban) (2006 est.)
Labor force - by occupation: agriculture: 8%
industry: 24%
services: 68% (2001)
Unemployment rate: 10.6% official rate; but underemployment of 47% (2006 est.)
Population below poverty line: 38.5% (FY0506)
Household income or consumption by percentage share: lowest 10%: 2%
highest 10%: 32%
note: data for urban households only (October 2003)
Distribution of family income - Gini index: 42
note: data are for urban households (2003)
Inflation rate (consumer prices): 3.4% (2006 est.)
Investment (gross fixed): 22.6% of GDP (2006 est.)
Budget: revenues: $11.5 billion
expenditures: planned $10.46 billion; including capital expenditures of $1.6 billion (2006 est.)
Public debt: 36% of GDP (2006 est.)
Agriculture - products: bananas, coffee, cocoa, rice, potatoes, manioc (tapioca), plantains, sugarcane; cattle, sheep, pigs, beef, pork, dairy products; balsa wood; fish, shrimp
Industries: petroleum, food processing, textiles, wood products, chemicals
Industrial production growth rate: 5% (2006 est.)
Electricity - production: 12.2 billion kWh (2004)
Electricity - consumption: 12.95 billion kWh (2004)
Electricity - exports: 35 million kWh (2004)
Electricity - imports: 1.642 billion kWh (2004)
Oil - production: 493,200 bbl/day (2005 est.)
Oil - consumption: 148,000 bbl/day (2004 est.)
Oil - exports: 420,600 bbl/day (2004 est.)
Oil - imports: NA bbl/day
Oil - proved reserves: 5.115 billion bbl (2006 est.)
Natural gas - production: 170 million cu m (2004 est.)
Natural gas - consumption: 170 million cu m (2004 est.)
Natural gas - exports: 0 cu m (2004 est.)
Natural gas - imports: 0 cu m (2004 est.)
Natural gas - proved reserves: 9.769 billion cu m (1 January 2005 est.)
Current account balance: $727 million (2006 est.)
Exports: $12.56 billion (2006 est.)
Exports - commodities: petroleum, bananas, cut flowers, shrimp
Exports - partners: US 51.4%, Peru 8.2%, Colombia 4.4%, Chile 4.1% (2006)
Imports: $10.81 billion (2006 est.)
Imports - commodities: vehicles, medicinal products, telecommunications equipment, electricity
Imports - partners: US 24%, Colombia 14.4%, Venezuela 7.7%, Brazil 7%, China 6.3% (2006)
Reserves of foreign exchange and gold: $2.514 billion (2006 est.)
Debt - external: $18.1 billion (2006 est.)
Economic aid - recipient: $216 million (2002)
Currency (code): US dollar (USD)
Exchange rates: the US dollar is used; the sucre was eliminated in 2000
Fiscal year: calendar year
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