The main spoken language in Ecuador is Spanish
Map of the country:
Total population of 15,492,264. (2012)
Trade (what do they do as a country in terms of industry and trade):
1 Crude Petroleum $12,437,174,044.83 51%
2 Bananas $2,963,459,067.81 12%
3 Crustaceans $1,269,551,723.92 5.2%
4 Refined Petroleum $1,101,213,889.21 4.5%
5 Processed Fish $1,011,736,693.76 4.1%
6 Cut Flowers $670,941,290.96 2.7%
7 Cocoa Beans $511,472,765.46 2.1%
8 Palm Oil $273,779,382.52 1.1%
9 Delivery Trucks $200,616,284.58 0.82%
10 Coffee and Tea $168,017,688.82 0.69%
1 Refined Petroleum $2,801,729,316.35 12%
2 Coal Tar Oil $1,421,718,699.46 5.9%
3 Cars $884,860,842.54 3.7%
4 Petroleum Gas $832,151,014.62 3.4%
5 Packaged Medicaments $744,296,639.00 3.1%
6 Delivery Trucks $604,262,189.48 2.5%
7 Computers $375,940,018.42 1.6%
8 Iron Pipes $343,922,496.78 1.4%
9 Broadcasting Equipment $287,201,902.50 1.2%
10 Vehicle Parts $282,718,376.97 1.2%
What % of the economy is made up of primary, secondary and tertiary sector activity?
Jobs are not available for almost 10% of Ecuador people. The country has a poorly developed economy and most jobs are found in the Primary Sector. Consequently, there are less jobs in the secondary sector and the high level of unemployment and underemployment is still critical. Some census show that the total percentage of jobs in the primary sector are 62.6% while other census show 52.9%. Ecuador primary sector includes activities like agriculture, forestry, farming, hunting and fishing.
In the Secondary Sector, industry and construction account for the majority of jobs (14.1%) and there is considerable rise of participation of Ecuador manual labour.
In reference to the Tertiary Sector, most people are involved (14.86 %) in the sub-sector of private and public services jobs. Ecuador is on the first stage towards industrialization, although the number of agricultural jobs still dominate the panorama. Generally speaking, the main industry is incipient and the infrastructure is still in growing process.
Is the country a developed or emerging economy?
The economy of Ecuador is based mostly on exports of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from nearly a million Ecuadorian emigrants employed abroad. In 2002, oil accounted for about one-third of public-sector revenue and 40% of export earnings. Ecuador is the world's largest exporter of bananas ($936.5 million in 2002) and a major exporter of shrimp ($251 million in 2002). Exports of non-traditional products such as flowers ($291 million in 2002) and canned fish ($333 million in 2002) have grown in recent years. Industry is largely oriented to servicing the domestic market.
Social conditions (education system, housing, health care, social welfare)
The constitution stipulates that all children attend school for 9 years and that this be free. Although the primary school enrolment rate exceeds 95%, 25% of children will have dropped out by the end of the 5th grade. Information is scanty, however there are believed to be approximately 1,088 primary schools where an average of 1.5 teachers per school educate an average of 63 pupils through 6 grades.
The education system in Ecuador is very strong. There are over 100 secondary schools. Grades 7 – 9 are free. Thereafter parents must pay school fees if they would like their children to study further. When this happens students have a choice of attending classes in for example computer skills, maths, science or social studies.
Do they have a comparative advantage over other countries? If so what is it?
Ecuador has a comparative advantage through their oil supplies in the country. They have high levels of oil in their country and this makes up 50% of their total exports. This provides a comparative advantage as