LORCS,
NAM, OAS, ONUSAL, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL,
WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation in US:
chief of mission:
Ambassador Edgar TERAN
chancery:
2535 15th Street NW, Washington, DC 20009
telephone:
(202) 234-7200
consulates general:
Chicago, Houston, Los Angeles, Miami, New Orleans, New York, and San
Francisco
consulate:
San Diego
US diplomatic representation:
chief of mission:
(vacant); Charge d'Affaires James F. MACK
embassy:
Avenida 12 de Octubre y Avenida Patria, Quito
mailing address:
P. O. Box 538, Quito, or APO AA 34039-3420
telephone:
[593] (2) 562-890
FAX:
[593] (2) 502-052
consulate general:
Guayaquil
Flag:
three horizontal bands of yellow (top, double width), blue, and red with the
coat of arms superimposed at the center of the flag; similar to the flag of
Colombia that is shorter and does not bear a coat of arms

*Ecuador, Economy

Overview:
Ecuador has substantial oil resources and rich agricultural areas. Growth
has been uneven because of natural disasters, fluctuations in global oil
prices, and government policies designed to curb inflation. Banana exports,
second only to oil, have suffered as a result of EC import quotas and banana
blight. The new President Sixto DURAN-BALLEN, has a much more favorable
attitude toward foreign investment than did his predecessor. Ecuador has
implemented trade agreements with Colombia, Peru, Bolivia, and Venezuela and
has applied for GATT membership. At the end of 1991, Ecuador received a
standby IMF loan of $105 million, which will permit the country to proceed
with the rescheduling of Paris Club debt. In September 1992, the government
launched a new, macroeconomic program that gives more play to market forces;
as of March 1993, the program seemed to be paying off.
National product:
GDP - exchange rate conversion - $11.8 billion (1992)
National product real growth rate:
3% (1992)
National product per capita:
$1,100 (1992)
Inflation rate (consumer prices): 70% (1992)
Unemployment rate:
8% (1992)
Budget:
revenues $1.9 billion; expenditures $1.9 billion, including capital
expenditures of $NA (1992)
Exports:
$3.0 billion (f.o.b., 1992)
commodities:
petroleum 42%, bananas, shrimp, cocoa, coffee
partners:
US 53.4%, Latin America, Caribbean, EC countries
Imports:
$2.4 billion (f.o.b., 1992)
commodities:
trans