Economy of Guayaquil, Ecuador


Coffee beans in Ecuador


Chocolate fruit containing Beans

Ecuador’s main agricultural products are chocolate, bananas and coffee, in that order. They also are a major exporter of roses to all parts of the world. Oil is also a significant part of the economy. Because of the lowered oil prices during the past year, the country is in a recession. The president also raised the sales tax to 22.7% to raise the two billion dollars needed to repair the earthquake damages. Since the economy is based on the U.S. dollar, the cost of things is very high.

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