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Ecuador

A carpet seller at the market of Otavalo, Ecuador

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Overview

Public policies for good living

As far as its internal political situation was concerned, Ecuador was long regarded as unstable – in the ten years between 1997 and 2007, seven different presidents were in power. The situation only stabilised after economist Rafael Correa took office in 2007. He was confirmed in office in 2009 and 2013. The presidential elections in the spring of 2017 were won by Lenín Moreno. Like Correa, under whom he had served as Vice President, he is a member of the Alianza País party. Despite some resistance within the party and within the country, Moreno is pursuing a moderate course directed at forging international partnerships. His work is characterised by openness and readiness to engage in dialogue and to work together with the private sector and civil society.

Development cooperation

Germany is one of the largest bilateral donors in the field of development cooperation with Ecuador. This cooperation focuses on environmental protection and the conservation of natural resources, and on efforts in the area of governance, democracy and participation.

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Development data for Ecuador

  • First Meeting of Andean Peoples and Nationalities for Sumak Kawsay in Ecuador in 2011
    Political situation

    Ambitious development goals

    The new constitution adopted in 2008 invokes the guiding principle of a firmly established concept in indigenous culture, sumak kawsay (a Kichwa expression meaning "good living", or "buen vivir" in Spanish).

  • Houses on a hill in Quito, Ecuador
    Social situation

    Fewer people living in poverty

    Ecuador is an upper-middle-income country. The government's reform policies of the last ten years have achieved some initial successes. There has been a marked drop in poverty and social inequality.

  • Tanker truck on a ferry across the Napo River, Ecuador
    Economic situation

    Great dependency on oil

    The guiding vision for the Ecuadorian government is a solidarity-based economy that serves all of society. Another goal is environmentally sustainable economic development.

  • An approximately 100 year old Galapagos giant tortoise, Charles-Darwin research station on the island of Santa Cruz, Galapagos Islands, Ecuador
    Environment

    Extraordinary biodiversity

    Ecuador is one of the countries with the greatest biodiversity in the world. Compared with other countries, an exceptionally large part of Ecuador is given over to nature reserves. Some twenty per cent of its territory is officially protected.

First Meeting of Andean Peoples and Nationalities for Sumak Kawsay in Ecuador in 2011
Political situation

Ambitious development goals

The new constitution adopted in 2008 invokes the guiding principle of a firmly established concept in indigenous culture, sumak kawsay (a Kichwa expression meaning "good living", or "buen vivir" in Spanish). The constitution defines Ecuador as a social, democratic, intercultural, multinational and secular state. It lays down basic social rights – such as the rights to food, health and education – and declares national sovereignty over strategic resources.

Important decision in constitutional referendum

The domestic policy situation for President Lenín Moreno is difficult. 29 supporters of his predecessor, Correa, left the parliamentary group of the Alianza País in 2017 because they do not support Moreno's course. The governing party has since only held 45 of 137 seats in parliament, so it has had to work together with other parties.

However, in February 2018 Moreno was able to consolidate his political position. In a constitutional referendum, his proposals received significant support. The issues covered by the referendum included better environmental protection (expansion of the Yasuní National Park, restrictions on oil production), a limit on presidential election terms, and more severe sentences for corruption offences.

A life free from poverty and violence

Ecuador's government has set itself ambitious development goals. The National Development Plan adopted in July 2017, which covers the period up to 2021, stipulates as its goal that all citizens should be able to lead lives free from poverty and violence. Particular prominence has been given to political and social dialogue and to giving the population a say in all areas of life. The new Development Plan was framed specifically for the purpose of implementing the 2030 Agenda at the national level. In the Plan, social inclusion, environmental sustainability, political participation and peace are linked together.

Houses on a hill in Quito, Ecuador
Social situation

Fewer people living in poverty

Ecuador is an upper-middle-income country. The government's reform policies of the last ten years have achieved some initial successes. There has been a marked drop in poverty and social inequality.

The World Bank reports that, between 2007 and 2017, the proportion of people living below the national poverty line dropped from 36.7 per cent to 21.5 per cent, and that by 2016 the proportion of those living in extreme poverty had decreased from 8.5 per cent to 3.6 per cent. Annual gross national income per capita rose from the equivalent of 3,330 US dollars in 2007 to the equivalent of 5,890 US dollars in 2017. The Human Development Index (HDI) ranks Ecuador 86th out of the 189 countries assessed.

Social divide not yet closed

However, severe poverty still persists in the rural areas of Ecuador, where it affects, in particular, indigenous and Afro-Ecuadorian groups, and children. Although social inequality has been reduced, the divide between rich and poor remains wide and is far from being closed. Furthermore, access to safe drinking water and sanitation still needs to be improved.

The official unemployment rate is 3.8 per cent. However, nearly 20 per cent of the workforce are considered to be underemployed.

In view of the high budget deficit and the growing level of public debt, the Moreno government has announced a course of austerity, with a focus on cutting expenditure on the public sector and public investment. Social spending, by contrast, which had been massively increased under Moreno's predecessor, Rafael Correa, is to be spared.

School class in Ecuador
Tanker truck on a ferry across the Napo River, Ecuador
Economic situation

Great dependency on oil

The guiding vision for the Ecuadorian government is a solidarity-based economy that serves all of society. Another goal is environmentally sustainable economic development. In a number of areas, including environmental policy, President Moreno intends to steer a very different course from that of his predecessor. For example, he is planning to restrict oil production in ecologically sensitive areas and to define, with the participation of civil society, a binding nationally determined contribution (NDC) to climate action for Ecuador.

The Ecuadorian economy is highly dependent on exports. By far the most important export is oil (accounting for about 30 per cent of all exports); further export commodities are bananas, coffee, cocoa, fish and shrimps.

Oil prices have an impact on the economy

High oil revenues over several years meant that Ecuador's economy grew year after year. Thus, the government was able to significantly increase its social and infrastructure spending.

The subsequent fall in oil prices had a correspondingly negative impact. In 2016, Ecuador slid into recession and the government had to introduce far-reaching austerity programmes. The International Monetary Fund (IMF) expects that the growth rate in 2019 will be 1.1 per cent.

Reforms intended to attract investors

Compared with other countries in the region, Ecuador is attracting only few international investors. In August 2018, the government passed an economic reform act which is hoped to significantly increase foreign investment, for instance in tourism.

An approximately 100 year old Galapagos giant tortoise, Charles-Darwin research station on the island of Santa Cruz, Galapagos Islands, Ecuador
Environment

Extraordinary biodiversity

Ecuador is one of the countries with the greatest biodiversity in the world. Compared with other countries, an exceptionally large part of Ecuador is given over to nature reserves. Some twenty per cent of its territory is officially protected. However, the authorities are often not yet able to enforce environmental laws or effectively monitor the protected areas.

Environment under threat from oil production

The most serious threat to these diverse nature areas comes from the oil industry. Nature is enshrined in Ecuador's constitution as an independent entity with its own legal rights, and there are comprehensive national programmes – progressive by regional standards – such as the Socio Bosque programme, which provides for incentive payments to the local population in return for preserving forested areas. Yet some 60,000 hectares of virgin forests are lost to logging every year.

Yasuní-ITT Initiative

Ecuador became the focus of international attention when, in 2007, then President Correa launched the Yasuní-ITT Initiative. This initiative was named after the Yasuní Biosphere Reserve and National Park and the Ishpingo, Tambococha and Tiputini oil fields discovered there. Ecuador offered the international community a deal whereby it would forgo plans to exploit the oil fields if the international community agreed to compensate Ecuador for lost earnings by paying 50 per cent of the expected oil revenues (3.6 billion US dollars) into a trust fund administered by the United Nations.

However, the international community did not enter into this bargain, and a civil society environmental alliance failed to push through a referendum on how the oil reserves should be used. In 2014, a licence for oil production in Yasuní National Park was granted. Drilling began in September 2016. In a referendum in February 2018, a majority of two thirds voted in favour of significant restrictions on oil extraction in the Yasuní National Park.

German development cooperation with Ecuador

Germany is one of Ecuador's main bilateral donors. At the government negotiations held in October 2018, Germany committed 48.9 million euros in new funding for development cooperation, comprising 32.4 million euros for Financial Cooperation and 16.5 million euros for Technical Cooperation.

German support focuses on two priorities:

  • Protecting the environment and natural resources
  • Governance, democracy and participation

In addition, the Federal Ministry for Economic Cooperation and Development (BMZ) contributes to an innovation fund that is used, among other things, to finance pilot projects in the area of vocational education. Support is also being provided to a programme to prevent violence against women.

Moreover, Ecuador is part of several regional programmes under Germany's development cooperation and, for a few years now, has been an active partner for the Regional Fund for Triangular Cooperation in Latin America and the Caribbean. In the field of non-governmental cooperation, the BMZ provides high levels of funding for activities by civil society and faith-based organisations.

Aracari in Yasuní National Park, Ecuador
Priority area "Protecting the environment and natural resources"

Conserving biodiversity and increasing climate action

The BMZ supports the efforts of the Ecuadorian government to conserve the country's extraordinary biodiversity and to achieve its ambitious climate targets. To that end, the BMZ provides funding and advice with regard to activities such as coastal protection and marine conservation, biodiversity conservation in the Andes, forest protection, agro-biodiversity and watershed protection.

Adaptation to climate change

As part of Technical Cooperation, GIZ is helping decision-makers at the national, regional and local levels to develop and implement strategies for the sustainable use of the country's biodiversity. The purpose of these efforts is to enhance people's resilience against environmental and climate change-related risks. The programme seeks to enable people to respond to the consequences of climate change at an early point and thus maintain their standard of living over the long term.

Protected areas

Under Financial Cooperation, Germany supports the efforts of the Ecuadorian government to expand and bolster the national network of protected areas. On behalf of the BMZ, KfW Development Bank is helping to finance the protected areas and related infrastructure. It is also providing funding, based on the REDD mechanism (Reducing Emissions from Deforestation and Forest Degradation), for incentive payments to – mostly indigenous – forest owners and communities that are willing to place their land under conservation. The money is used, for example, to improve health care and education in the communities in question.

The German and Ecuadorian sides also agreed to increase their cooperation on energy efficiency.

Independence Square, Quito, Ecuador
Priority area "Governance, democracy and participation"

Fostering good governance

The constitution adopted in 2008 provides for the restructuring of territorial divisions and the reform of administrative structures. Now the key challenges are to confront centralist patterns of governance; improve management capabilities at various levels of administration; place the country's provinces and municipalities on a sounder financial footing; and eliminate deficits in the provision of local infrastructure and public services.

Participation by the people

In order to support the decentralisation process, Germany is providing support to selected medium-sized towns in Ecuador to help them implement the national agenda on urban development, especially in terms of climate and environmental aspects. Areas of activity include sustainable energy supplies, improvement of housing and neighbourhoods, food security, and adaptation to climate change. There is a special focus on involving civil society to a greater degree in political discussions and decision-making.

For this purpose, KfW Development Bank is providing credits to the state-owned development bank, Banco del Estado, which will be used to help selected medium-sized municipalities in Ecuador make investments in their water supply and sanitation systems, in waste management and in urban mobility networks. The municipalities are only eligible for the reduced-interest loans from Banco del Estado if they present a sound investment plan that has been drawn up with the participation of the people.

Adjusting the programme of cooperation

At the government negotiations in October 2018, the two sides agreed to readjust the former priority area "Public administration and economic reforms", shifting its focus to "Governance, democracy and participation". In this way, Germany wants to support President Moreno's reform course and foster good governance at all levels of government. The exact design of future cooperation (on topics such as transparency, efforts against corruption and increased participation by the people) is now being discussed between the two sides.

Cotopaxi volcano (5897 metres) in Ecuador

Map of Ecuador

This map does not necessarily reflect the official position of the German government in terms of international law.

Development facts and figures

  Ecuador Data for Germany
Country namea16180138 Republic of Ecuador Federal Republic of Germany
Capitala16180110 Quito, 2.2 million inhabitants Berlin, 3.7 million inhabitants
Surface areaa16180096 256,370 sq km (2018) 357,580 sq km (2018)
Ranking Human Development Index (HDI)a16180124 86 of 189 (2017) 5 of 189 (2017)
http://data.worldbank.org/indicator/AG.SRF.TOTL.K2

Surface area

Surface area is a country's total area, including areas under inland bodies of water and some coastal waterways.

http://hdr.undp.org/en/statistics/

Ranking Human Development Index (HDI)

The United Nations Development Programme (UNDP) publishes a Human Development Report once a year. The Human Development Index (HDI) contained in the Report records average figures for a country in fundamentally important fields of human development. These include, for example, life expectancy at birth, level of education and per capita income. From a large number of such individual indicators a ranking is calculated. Using this ranking it is possible to establish the average development status of a particular country.

http://data.worldbank.org/indicator/SP.RUR.TOTL.ZS

Population living in rural areas (% of total)

Rural population refers to people living in rural areas as defined by national statistical offices. It is calculated as the difference between total population and urban population.

http://data.worldbank.org/indicator/SP.DYN.LE00.IN

Life expectancy

Life expectancy at birth indicates the number of years a newborn infant would live if prevailing patterns of mortality at the time of its birth were to stay the same throughout its life.

http://data.worldbank.org/indicator/SP.POP.65UP.TO.ZS

Population ages 65 and above (% of total)

 

http://data.worldbank.org/indicator/SP.POP.0014.TO.ZS

Population ages 0-14 (% of total)

 

http://www.bmz.de/en/index.html

Volume of German development cooperation

Funds for development cooperation (Technical and Financial Cooperation) committed by the Federal Republic of Germany under intergovernmental agreements.

http://data.worldbank.org/indicator/DT.ODA.ODAT.CD

Total amount of ODA received

Net official development assistance (ODA) consists of disbursements of loans made on concessional terms (net of repayments of principal) and grants by official agencies of the members of the Development Assistance Committee (DAC), by multilateral institutions, and by non-DAC countries to promote economic development and welfare in countries and territories in the DAC list of ODA recipients. It includes loans with a grant element of at least 25 percent (calculated at a rate of discount of 10 percent). Data are in current U.S. dollars.

http://data.worldbank.org/indicator/DT.ODA.ODAT.PC.ZS

Amount of ODA received per capita

Net official development assistance (ODA) per capita consists of disbursements of loans made on concessional terms (net of repayments of principal) and grants by official agencies of the members of the Development Assistance Committee (DAC), by multilateral institutions, and by non-DAC countries to promote economic development and welfare in countries and territories in the DAC list of ODA recipients; and is calculated by dividing net ODA received by the midyear population estimate. It includes loans with a grant element of at least 25 percent (calculated at a rate of discount of 10 percent). Data are in current U.S. dollars.

http://data.worldbank.org/indicator/SN.ITK.DEFC.ZS

Undernutrition

Population below minimum level of dietary energy consumption (also referred to as prevalence of undernourishment) shows the percentage of the population whose food intake is insufficient to meet dietary energy requirements continuously. Data showing as 2.5 signifies a prevalence of undernourishment below 2.5%.

http://data.worldbank.org/indicator/SI.POV.NAHC

Population living below the national poverty line (% of total)

National poverty rate is the percentage of the population living below the national poverty line. National estimates are based on population-weighted subgroup estimates from household surveys.

http://data.worldbank.org/indicator/SI.POV.DDAY

Population living in absolute poverty (% of total)

The percentage of the population living on less than 1.90 US dollars a day at 2011 international prices. The World Bank last changed the definition of this poverty line in October 2015. Previously, it was defined as the percentage of the population living on less than 1.25 US dollars a day at 2005 international prices. Five countries (Bangladesh, Cambodia, Cape Verde, Jordan and Laos) still use this older definition.

http://data.worldbank.org/indicator/SE.PRM.CMPT.ZS

Children who complete primary school (% of total)

Primary completion rate is the percentage of students completing the last year of primary school. It is calculated by taking the total number of students in the last grade of primary school, minus the number of repeaters in that grade, divided by the total number of children of official graduation age.

When using this method of calculation the result may be greater than 100 per cent for some countries. This just means that the number of children completing their primary school education in that particular school year was higher than the number of children who were of official school leaving age.

http://data.worldbank.org/indicator/SE.PRM.NENR

Proportion of school age children attending primary school

Net enrollment ratio is the ratio of children of official school age based on the International Standard Classification of Education 1997 who are enrolled in school to the population of the corresponding official school age. Primary education provides children with basic reading, writing, and mathematics skills along with an elementary understanding of such subjects as history, geography, natural science, social science, art, and music.

http://data.worldbank.org/indicator/SE.ADT.LITR.ZS

Literacy rate

Adult literacy rate is the percentage of people ages 15 and above who can, with understanding, read and write a short, simple statement on their everyday life.

http://data.worldbank.org/indicator/SE.XPD.TOTL.GD.ZS

Public spending on education

Public expenditure on education consists of current and capital public expenditure on education includes government spending on educational institutions (both public and private), education administration as well as subsidies for private entities (students/households and other privates entities).

http://data.worldbank.org/indicator/SE.PRM.ENRL.TC.ZS

Number of pupils per teacher at primary school level

Primary school pupil-teacher ratio is the number of pupils enrolled in primary school divided by the number of primary school teachers (regardless of their teaching assignment).

http://data.worldbank.org/indicator/SH.H2O.SAFE.ZS

Percentage of the population with sustainable access to safe drinking water

Access to an improved water source refers to the percentage of the population with reasonable access to an adequate amount of water from an improved source, such as a household connection, public standpipe, borehole, protected well or spring, and rainwater collection. Unimproved sources include vendors, tanker trucks, and unprotected wells and springs. Reasonable access is defined as the availability of at least 20 liters a person a day from a source within one kilometer of the dwelling.

http://data.worldbank.org/indicator/SH.IMM.IDPT

Immunization, diphtheria, pertussis, and tetanus (DPT) (% of children ages 12-23 months)

Child immunization measures the percentage of children ages 12-23 months who received vaccinations before 12 months or at any time before the survey. A child is considered adequately immunized against diphtheria, pertussis (or whooping cough), and tetanus (DPT) after receiving three doses of vaccine.

http://data.worldbank.org/indicator/SH.STA.ACSN

Improved sanitation facilities (% of population with access)

Access to an improved water source refers to the percentage of the population with reasonable access to an adequate amount of water from an improved source, such as a household connection, public standpipe, borehole, protected well or spring, and rainwater collection. Unimproved sources include vendors, tanker trucks, and unprotected wells and springs. Reasonable access is defined as the availability of at least 20 liters a person a day from a source within one kilometer of the dwelling.

https://data.worldbank.org/indicator/SH.STA.SMSS.ZS

People using safely managed sanitation services (% of population)

The percentage of people using improved sanitation facilities that are not shared with other households and where excreta are safely disposed of in situ or transported and treated offsite. Improved sanitation facilities include flush/pour flush to piped sewer systems, septic tanks or pit latrines: ventilated improved pit latrines, compositing toilets or pit latrines with slabs.

http://data.worldbank.org/indicator/SH.STA.BRTC.ZS

Births attended by skilled health staff (% of total)

Births attended by skilled health staff are the percentage of deliveries attended by personnel trained to give the necessary supervision, care, and advice to women during pregnancy, labor, and the postpartum period; to conduct deliveries on their own; and to care for newborns.

http://data.worldbank.org/indicator/SH.STA.ANVC.ZS

Pregnant women receiving prenatal care (%)

Pregnant women receiving prenatal care are the percentage of women attended at least once during pregnancy by skilled health personnel for reasons related to pregnancy.

http://data.worldbank.org/indicator/SH.DYN.MORT

Under-five mortality rate (per 1,000 live births)

Under-five mortality rate is the probability per 1,000 that a newborn baby will die before reaching age five, if subject to current age-specific mortality rates.

http://data.worldbank.org/indicator/SH.STA.MMRT

Number of mothers who die during pregnancy or childbirth (per 100,000 live births)

Maternal mortality ratio is the number of women who die during pregnancy and childbirth, per 100,000 live births. The data are estimated with a regression model using information on fertility, birth attendants, and HIV prevalence.

http://data.worldbank.org/indicator/SH.DYN.AIDS.ZS

HIV/AIDS prevalence among the 15-49 age group

Prevalence of HIV refers to the percentage of people ages 15-49 who are infected with HIV.

https://data.worldbank.org/indicator/SH.XPD.GHED.GD.ZS

Domestic general government health expenditure (% of GDP)

Public expenditure on health from domestic sources as a share of the economy as measured by GDP.

https://data.worldbank.org/indicator/SH.H2O.SMDW.ZS

People using safely managed drinking water services (% of population)

The percentage of people using drinking water from an improved source that is accessible on premises, available when needed and free from faecal and priority chemical contamination. Improved water sources include piped water, boreholes or tubewells, protected dug wells, protected springs, and packaged or delivered water.

http://data.worldbank.org/indicator/IS.ROD.PAVE.ZS

Roads, paved (% of total roads)

Paved roads are those surfaced with crushed stone (macadam) and hydrocarbon binder or bituminized agents, with concrete, or with cobblestones, as a percentage of all the country's roads, measured in length.

http://data.worldbank.org/indicator/IT.NET.USER.ZS

Individuals using the Internet (% of population)

Internet users are individuals who have used the Internet (from any location) in the last 3 months. The Internet can be used via a computer, mobile phone, personal digital assistant, games machine, digital TV etc.

http://data.worldbank.org/indicator/IS.VEH.PCAR.P3

Passenger cars (per 1,000 people)

Passenger cars refer to road motor vehicles, other than two-wheelers, intended for the carriage of passengers and designed to seat no more than nine people (including the driver).

http://data.worldbank.org/indicator/IT.CEL.SETS.P2

Mobile cellular subscriptions (per 100 people)

Mobile cellular telephone subscriptions are subscriptions to a public mobile telephone service using cellular technology, which provide access to the public switched telephone network. Post-paid and prepaid subscriptions are included.

http://data.worldbank.org/indicator/AG.LND.AGRI.ZS

Land under cultivation (% of total land area)

Agricultural land refers to the share of land area that is arable, under permanent crops, and under permanent pastures. Arable land includes land defined by the FAO as land under temporary crops (double-cropped areas are counted once), temporary meadows for mowing or for pasture, land under market or kitchen gardens, and land temporarily fallow. Land abandoned as a result of shifting cultivation is excluded. Land under permanent crops is land cultivated with crops that occupy the land for long periods and need not be replanted after each harvest, such as cocoa, coffee, and rubber. This category includes land under flowering shrubs, fruit trees, nut trees, and vines, but excludes land under trees grown for wood or timber. Permanent pasture is land used for five or more years for forage, including natural and cultivated crops.

http://data.worldbank.org/indicator/ER.LND.PTLD.ZS

Land classified as conservation areas (% of total land area)

Terrestrial protected areas are those officially documented by national authorities.

http://data.worldbank.org/indicator/AG.LND.FRST.ZS

Forested land (% of total land area)

Forest area is land under natural or planted stands of trees of at least 5 meters in situ, whether productive or not, and excludes tree stands in agricultural production systems (for example, in fruit plantations and agroforestry systems) and trees in urban parks and gardens.

http://data.worldbank.org/indicator/EN.ATM.CO2E.PC

Level of carbon emissions per capita (in tons)

Carbon dioxide emissions are those stemming from the burning of fossil fuels and the manufacture of cement. They include carbon dioxide produced during consumption of solid, liquid, and gas fuels and gas flaring.

http://data.worldbank.org/indicator/EG.USE.ELEC.KH.PC

Power consumption per inhabitant

Electric power consumption measures the production of power plants and combined heat and power plants less transmission, distribution, and transformation losses and own use by heat and power plants.

http://data.worldbank.org/indicator/SL.AGR.EMPL.ZS

Jobs in agriculture (% of total)

Employees are people who work for a public or private employer and receive remuneration in wages, salary, commission, tips, piece rates, or pay in kind. Agriculture corresponds to division 1 (ISIC revision 2) or tabulation categories A and B (ISIC revision 3) and includes hunting, forestry, and fishing.

http://data.worldbank.org/indicator/EG.IMP.CONS.ZS

Energy imports (% of total energy consumption)

Net energy imports are estimated as energy use less production, both measured in oil equivalents. A negative value indicates that the country is a net exporter. Energy use refers to use of primary energy before transformation to other end-use fuels, which is equal to indigenous production plus imports and stock changes, minus exports and fuels supplied to ships and aircraft engaged in international transport.

http://data.worldbank.org/indicator/SL.TLF.0714.ZS

Child labour (% of children aged 7 to 14)

Economically active children refer to children involved in economic activity for at least one hour in the reference week of the survey.

http://data.worldbank.org/indicator/SL.UEM.TOTL.ZS

Unemployment rate

Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Definitions of labor force and unemployment differ by country.

http://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD

Foreign direct investment, net inflows (BoP, current US$)

Foreign direct investment are the net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. This series shows net inflows (new investment inflows less disinvestment) in the reporting economy from foreign investors. Data are in current U.S. Dollars.

http://data.worldbank.org/indicator/DT.DOD.DECT.CD

Total foreign debt

Total external debt is debt owed to non-residents repayable in foreign currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Data are in current U.S. dollars.

http://data.worldbank.org/indicator/NY.GNP.ATLS.CD

GNI (current US$)

GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

http://data.worldbank.org/indicator/NY.GNP.PCAP.CD

GNI per capita (current US$)

GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

http://data.worldbank.org/indicator/NE.EXP.GNFS.ZS

Exports of goods and services (% of GDP)

Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

http://data.worldbank.org/indicator/NE.IMP.GNFS.ZS

Imports of goods and services (% of GDP)

Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

http://data.worldbank.org/indicator/FP.CPI.TOTL.ZG

Inflation

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

http://data.worldbank.org/indicator/DT.TDS.DECT.EX.ZS

Debt service as percentage of exports of goods and services and net income from abroad

Total debt service is the sum of principal repayments and interest actually paid in foreign currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF. Exports of goods and services includes income and workers' remittances.

http://data.worldbank.org/indicator/NV.IND.TOTL.ZS

Industry, value added (% of GDP)

Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.

http://data.worldbank.org/indicator/NV.AGR.TOTL.ZS

Agriculture, value added (% of GDP)

Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.

https://data.worldbank.org/indicator/NV.SRV.TOTL.ZS

Services, value added (% of GDP)

Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.

http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG

GDP growth (annual %)

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2000 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources

Further information

A selection of links with further development-related background information on Ecuador

BMZ glossary

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