uneven due to ill-conceived fiscal stabilization measures. The
populist government of Abdala BUCARAM Ortiz proposed a major
currency reform in 1996, but popular discontent with BUCARAM'S
austerity measures and rampant official corruption led to his
replacement by National Congress with Fabian ALARCON in February
1997. ALARCON adopted a minimalist economic program that put off
necessary reforms until August 1998 when President Jamil MAHUAD was
elected. MAHAUD inherited an economy in crisis due to mismanagement,
El Nino damage to key export sectors such as agriculture, and low
world commodity prices in the wake of the Asian financial crisis.
MAHAUD announced a fiscal austerity package and expressed interest
in an IMF agreement but faces major difficulties in promoting
economic growth, including possible political objections to further
reform.

GDP: purchasing power parity--$58.7 billion (1998 est.)

GDP--real growth rate: 1% (1998 est.)

GDP--per capita: purchasing power parity?$4,800 (1998 est.)

GDP--composition by sector:
agriculture: 12%
industry: 37%
services: 51% (1996 est.)

Population below poverty line: 35% (1994 est.)

Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 37.6% (1994)

Inflation rate (consumer prices): 43% (1998 est.)

Labor force: 4.2 million

Labor force--by occupation: agriculture 29%, manufacturing 18%,
commerce 15%, services and other activities 38% (1990)

Unemployment rate: 12% with widespread underemployment (November
1998 est.)

Budget:
revenues: planned $5.1 billion not including revenue from potential
privatizations
expenditures: $5.1 billion (1999)

Industries: petroleum, food processing, textiles, metal work,
paper products, wood products, chemicals, plastics, fishing, lumber

Industrial production growth rate: 2.4% (1997 est.)

Electricity--production: 8.45 billion kWh (1996)

Electricity--production by source:
fossil fuel: 17.16%
hydro: 82.84%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 8.45 billion kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: bananas, coffee, cocoa, rice, potatoes,
manioc (tapioca), plantains, sugarcane; cattle, sheep, pigs, beef,
pork, dairy products; balsa wood; fish, shrimp

Exports: $3.4 billion (f.o.b., 1997)

Exports--commodities: petroleum 30%, bananas 26%, shr