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Busines and Economy of Ecuador

Bananas and shrimp are the main products being exported – the U.S. is a big buyer, followed by Japan and Colombia. Ecuador imports cars, trucks, chemicals and machinery. Tourism is also an important part of the economy. Oil has been a great possibility but its extraction causes a threat to the rain forests. On the whole a poor country, Ecuador faced a major financial crisis in March 1999. Service industries make up Ecuador’s GDP (gross domestic product). The country’s service industries include communication, transportation, finance, insurance and property.

Business Guide

Casas de cambio, businesses, stores and government offices are open between 9 am – 5.30 p.m. with a break for an hour for lunch. You are expected to wear a suit at formal meetings and smart wear at top end restaurants and bars.

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