Out of the slump

C4

HIGH RISK

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD98.808bn (World ranking 65, World Bank 2020)
Population 17.643mn (World ranking 65, World Bank 2020)
Form of state Presidential Republic
Head of government Guillermo Lasso (President)
Next elections 2025, presidential and legislative
  • Significant oil reserves and unexploited mining resources
  • Dollarization of the economy, limits transfer and currency risk and anchors inflation
  • Recently Improved road network
  • Financial support from China
  • GDP per capita and social indicators have improved significantly over the past years
  • Dependence on oil production and high vulnerability to global oil prices
  • Monetary policy limited by dollarization
  • Low level of FX reserves
  • Limited access to international capital markets due to successive debt defaults and restructurings
  • Unsustainable pace of public spending
  • Strong state interventionism, increasing price and import controls

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
United States 25.6%
1
25.0% United States
China 16.0%
2
15.0% China
Panama 9.0%
3
8.4% Colombia
Russian Federation 6.6%
4
5.3% Spain
Spain 3.4%
5
4.0% Peru

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Petroleum, petroleum products and related materials 28.8%
1
14.7% Petroleum, petroleum products and related materials
Fish, crustaceans, molluscs and preparations thereof 23.7%
2
7.7% Road vehicles
Vegetables and fruits 23.6%
3
5.6% Other industrial machinery and parts
Crude animal and vegetable materials, n.e.s. 5.2%
4
5.3% Medicinal and pharmaceutical products
Coffee, tea, cocoa, spices, and manufactures thereof 4.7%
5
4.3% Electrical machinery, apparatus and appliances, n.e.s.
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East