India - Ecuador Business and Cultural Council

Ecuador, in northwestern South America, is known for its diverse ecosystems, including the Amazon rainforest, Andean highlands, and the Galápagos Islands. The capital is Quito, and Spanish is the official language. It has a mixed economy with agriculture, petroleum, and tourism.

Ambassador and Consul General

The Ambassador of Embassy of Ecuador Hector Cueva Jacome accepted the Honorary Membership of Global India Business forum, in the presence of Global President Dr. Jitendra Joshi and Global Co-ordinator Ms. Deepali Gadkari. Realizing Strengths of Global India Business Forum and Consulate of the Republic of Mali and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.

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Crude Petroleum,Crustaceans,Bananas, Refined Petroleum,and processed Fish

Refined Petroleum,Coal Tar Oil,Cars, Petroleum Gas, Soyabean Meal

About Ecuador

Ecuador, located in northwestern South America, is bordered by Colombia to the north, Peru to the east and south, and the Pacific Ocean to the west. Its capital, Quito, is renowned for its well-preserved colonial architecture and high altitude. Ecuador covers approximately 283,561 square kilometers and features diverse geographic regions: the coastal plains (Costa), the Andean highlands (Sierra), the Amazon rainforest (Oriente), and the unique Galápagos Islands.
Historically, Ecuador was part of the Inca Empire before Spanish colonization in the 16th century. It gained independence from Spain in 1822 and became a republic in 1830. The country operates as a democratic presidential republic, with Guillermo Lasso serving as president as of the last update.
Ecuador's economy heavily relies on oil exports, agriculture (notably bananas, cocoa, and flowers), fishing, and tourism. Despite these sectors, the country faces challenges like economic dependency on oil and external debt. The population, about 17 million, is ethnically diverse, with mestizos being the majority, alongside Indigenous, Afro-Ecuadorian, and European communities. Spanish is the official language, and Quichua is widely spoken.

Business Opportunities in Ecuador

Ecuador has a lot of business opportunities at its disposal which can help its economy immensely. The country has huge exports of crude oil and its related products, which can create a lot of business opportunities for countries interested to invest in the oil production of Ecuador.The country is also known for its seafood like fish and shrimp which can create a lot of business opportunities for other seafood-driven countries. Coffee and cocoa are another set of popular products of the country which can help create more business opportunities for Ecuador as these products have a high demand around the world.

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Exports and Imports In Ecuador

Overview In 2022, Ecuador was the number 62 economy in the world in terms of GDP (current US$), the number 68 in total exports, the number 70 in total imports, the number 101 economy in terms of GDP per capita (current US$) and the number 109 most complex economy according to the Economic Complexity Index (ECI) .

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Top Exports of Ecuador

The top exports of Ecuador are Crude Petroleum ($11.1B), Crustaceans ($7.98B), Bananas ($3.68B), Refined Petroleum ($1.67B), and Processed Fish ($1.5B), exporting mostly to United States of America ($9.86B), China ($6.17B), Panama ($4.97B), Chile ($1.34B), and Colombia ($1.07B).

Top Imports of Ecuador

The top imports of Ecuador are Refined Petroleum ($4.81B), Coal Tar Oil ($1.77B), Cars ($1.26B), Petroleum Gas ($784M), and Soybean Meal ($680M), importing mostly from United States ($8.08B), China ($7.14B), Colombia ($1.89B), Peru ($1.28B), and Brazil ($1.18B).

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