Nine investment projects comprise the current portfolio, which totals USD 1.628 billion. Developed countries are classified as high-income economies with a GNI per capita of 13,200 or more. Despite being a third-world country, there are wonderful sites to see and lots of discoveries to make. The rates continue to decline. (Spanish)The World Factbook, the indispensable source for basic information. Yes, it is. Otavalo Market is a popular attraction for many tourists. Results achieved in the Country Partnership Framework. Ecuador is a patchwork of ethnic identities, a complex legacy of its indigenous and colonial past. A second, nationwide wave of emigration in the late 1990s was caused by another economic downturn, political instability, and a currency crisis. Itiar Solar Museum tells you of the local people while Mitad Del Mundothe middle of a world monument shows you where French explorers stood to determine the equatorial line in 1736. A ride on the train allows you to enjoy beautiful views of incredible gorges, rivers, and waterfalls. Ecuadors current HDI is 0.759. After that, parents have to incur the fees. Furthermore, since it is highly vulnerable to climate change, Ecuador is striving to mitigate the effects of the global climate challenge and, with private sector assistance, to dissociate the growth of its economy from greenhouse gas emissions. The cost of living is very affordable. Nations are commonly characterized based on their GDP, employment growth, GDP per capita, and unemployment rate. The government consists of five arms; the judicial branch, the executive, the electoral branch, the legislative branch, and the Transparency and Social Control. Thats surprising, right. The economy is poor and a big part of the population lives below the poverty line. ), $29.325 billion (2021 est.) It is an index that uses human development as a parameter for determining a nations development level. Is it expensive to live in Ecuador? To achieve them, the World Bank, the International Finance Corporation (IFC, a WBG institution that supports the private sector) and the Multilateral Investment Guarantee Agency (MIGA, a WBG institution that offers insurance against political and investment risks) will collaborate to increase impact. ), conventional long form: Republic of Ecuadorconventional short form: Ecuadorlocal long form: Republica del Ecuadorlocal short form: Ecuadoretymology: the country's position on the globe, straddling the Equator, accounts for its Spanish name, name: Quitogeographic coordinates: 0 13 S, 78 30 Wtime difference: UTC-5 (same time as Washington, DC, during Standard Time)time zone note: Ecuador has two time zones, including the Galapagos Islands (UTC-6)etymology: named after the Quitu, a Pre-Columbian indigenous people credited with founding the city; the name is also a combination of two Tsafiki words: quitso (meaning "center" or "half") + to or tu ("the world"); the combination roughly translates as "center of the world" and reflects the fact that native peoples recognized that at the two annual equinoxes, the overhead sun in that area (only about 20 km (12 mi) north of the equator) did not display any shade and thus must be in the middle of the world, 24 provinces (provincias, singular - provincia); Azuay, Bolivar, Canar, Carchi, Chimborazo, Cotopaxi, El Oro, Esmeraldas, Galapagos, Guayas, Imbabura, Loja, Los Rios, Manabi, Morona-Santiago, Napo, Orellana, Pastaza, Pichincha, Santa Elena, Santo Domingo de los Tsachilas, Sucumbios, Tungurahua, Zamora-Chinchipe, Independence Day (independence of Quito), 10 August (1809), history: many previous; latest approved 20 October 2008amendments: proposed by the president of the republic through a referendum, by public petition of at least 1% of registered voters, or by agreement of at least one-third membership of the National Assembly; passage requires two separate readings a year apart and approval by at least two-thirds majority vote of the Assembly, and approval by absolute majority in a referendum; amendments such as changes to the structure of the state, constraints on personal rights and guarantees, or constitutional amendment procedures are not allowed; amended 2011, 2015, 2018, civil law based on the Chilean civil code with modifications; traditional law in indigenous communities, has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction, citizenship by birth: yescitizenship by descent only: yesdual citizenship recognized: noresidency requirement for naturalization: 3 years, 18-65 years of age; universal and compulsory; 16-18, over 65, and other eligible voters, voluntary, chief of state: President Guillermo LASSO Mendoza (since 24 May 2021); Vice President Alfredo Enrique BORRERO Vega (since 24 May 2021); the president is both chief of state and head of governmenthead of government: President Guillermo LASSO Mendoza (since 24 May 2021); Vice President Alfredo Enrique BORRERO Vega (since 24 May 2021)cabinet: Cabinet appointed by the presidentelections/appointments: president and vice president directly elected on the same ballot by absolute majority popular vote in 2 rounds if needed for a 4-year term (eligible for a second term); election last held on 7 February 2021 with a runoff on 11 April 2021 (next to be held in February 2025)election results: 2021: Guillermo LASSO Mendoza elected president; first round election results: percent of vote - Andres ARAUZ (UNES) 32.72%, Guillermo LASSO Mendoza (CREO) 19.74%, Yaku PEREZ Guartambel (MUPP) 19.38%, Xavier HERVAS Mora (Independent) 15.68%, other 12.48%; second round election results: percent of vote - Guillermo LASSO Mendoza (CREO) 52.5%, Andres ARAUZ (UNES) 47.5%2017: Lenin MORENO Garces elected president in second round; percent of vote - Lenin MORENO Garces (Alianza PAIS Movement) 51.1%, Guillermo LASSO (CREO) 48.9%, description: unicameral National Assembly or Asamblea Nacional (137 seats; 116 members directly elected in single-seat constituencies by simple majority vote, 15 members directly elected in a single nationwide constituency by proportional representation vote, and 6 directly elected in multi-seat constituencies for Ecuadorians living abroad by simple majority vote; members serve 4-year terms); note - all Assembly members have alternates from the same party who cast votes when a primary member is absent, resigns, or is removed from officeelections: last held on 7 February 2021 (next scheduled in February 2025)election results: percent of vote by party - UNES 32.21%, MUPP 16.81%, ID 11.98%, PSC 9.73%, CREO 9.65%, MC-PSE 3.76%, other 15.86%; seats by party - UNES 49, MUPP 27, ID 18, PSC 18, CREO 12, MC-PSE 2, independents 3, other 8; composition as of March 2022 - men 84, women 53, percent of women 38.7%; note - defections by members of National Assembly are commonplace, resulting in frequent changes in the numbers of seats held by the various parties, highest court(s): National Court of Justice or Corte Nacional de Justicia (consists of 21 judges, including the chief justice and organized into 5 specialized chambers); Constitutional Court or Corte Constitucional (consists of the court president and 8 judges)judge selection and term of office: candidates for the National Court of Justice evaluated and appointed justices by the Judicial Council, a 9-member independent body of law professionals; justices elected for 9-year, non-renewable terms, with one-third of the membership renewed every 3 years; candidates for the Constitutional Court evaluated and appointed judges by a 6-member independent body of law professionals; judges appointed for 4-year renewable termssubordinate courts: provincial courts (one for each province except Galapagos); fiscal, criminal, and administrative tribunals; Election Dispute Settlement Courts; cantonal courts, Avanza Party or AVANZA [Javier ORTI Torres]Central Democratic Movement or CD [Jimmy JAIRALA]Citizen Revolution Movement or MRC or RC5 [Rafael CORREA]Creating Opportunities Movement or CREO [Guillermo LASSO]Democratic Left or ID [Rodrigo BORJA Cevallos]Forward Ecuador Movement [Alvaro NOBOA]Pachakutik Plurinational Unity Movement or MUPP [Marlon Rene SANTI Gualinga]Patriotic Society Party or PSP [Lucio Edwin GUTIERREZ Borbua]Popular Democracy Movement or MPD [Luis VILLACIS]Social Christian Party or PSC [Jaime NEBOT Saadi]Socialist Party [Gustavo VALLEJO] Society United for More Action or SUMA [Guillermo CELI], CAN, CD, CELAC, FAO, G-11, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAES, LAIA, Mercosur (associate), MIGA, MINUSTAH, NAM, OAS, OPANAL, OPCW, OPEC, Pacific Alliance (observer), PCA, PROSUR, SICA (observer), UN, UNAMID, UNASUR, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNISFA, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, chief of mission: Ambassador Ivonne Leila Juez De A-BAKI (since 6 February 2020)chancery: 2535 15th Street NW, Washington, DC 20009telephone: [1] (202) 234-7200FAX: [1] (202) 333-2893email address and website: embassy@ecuador.orghttp://www.ecuador.org/consulate(s) general: Atlanta, Chicago, Houston, Los Angeles, Miami, Minneapolis, New Haven (CT), New Orleans, New York, Newark (NJ), Phoenix, San Francisco, chief of mission: Ambassador Michael J. FITZPATRICK (since 3 July 2019)embassy: E12-170 Avenida Avigiras y Avenida Eloy Alfaro, Quitomailing address: 3420 Quito Place, Washington DC 20521-3420telephone: [593] (2) 398-5000email address and website: ACSQuito@state.govhttps://ec.usembassy.gov/consulate(s) general: Guayaquil, three horizontal bands of yellow (top, double width), blue, and red with the coat of arms superimposed at the center of the flag; the flag retains the three main colors of the banner of Gran Colombia, the South American republic that broke up in 1830; the yellow color represents sunshine, grain, and mineral wealth, blue the sky, sea, and rivers, and red the blood of patriots spilled in the struggle for freedom and justicenote: similar to the flag of Colombia, which is shorter and does not bear a coat of arms, Andean condor; national colors: yellow, blue, red, name: "Salve, Oh Patria!" Since mid-2021, the new government has initiated reforms aimed at returning Ecuador to a path of growth and shared prosperity. )subscriptions per 100 inhabitants: 88 (2020 est. Life is a box of adventure, 2022 A Box of Adventure. 83 per 1000 live births. )0.01% (2019 est. Using the GNI, countries are divided into categories by the world bank. The indigenous languages spoken in Ecuador are: The United States Dollar is the official currency of Ecuador. The country is diverse. The right to get an abortion is limited. 1822 - Ecuador becomes part of independent Gran Colombia, which also encompasses Colombia, Panama and Venezuela. Read Also: Is Guatemala a Third World Country? This site uses cookies to optimize functionality and give you the best possible experience. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. On August 14, Ecuador commemorated its first national day against sexual violence in schools, complying with a 2020 Inter-American Court of Human Rights ruling in the Paola Guzman Albarracn case . However, well list just a few. In this context, the government plan is to create opportunities for the Ecuadorian people by focusing on actions in five key areas: economic, social, comprehensive security, ecological and institutional transition. Ecuador is a fun place to be. The most common safety concerns in Ecuador are robbery and pickpocketing. Dependence on Developed Nations for Support In the recent past, third-world countries have been defined as countries with economic instability, high rates of poverty, and insufficient human resources. It is a beautiful city filled with colonial architecture and monuments. The Amazon Rainforest in Ecuador is rich in wildlife. )refined petroleum consumption: 259,000 bbl/day (2019 est. In 2020, Ecuador was the fifth-largest oil producer in South America behind Brazil, Colombia, . These indicators are graded using a scale of 01.0. Winter Season In Italy. However, the term was initially used to describe countries that were neutral during the cold war. )2.2% of GDP (2019) (approximately $2.98 billion)2.4% of GDP (2018) (approximately $3.14 billion)2.4% of GDP (2017) (approximately $3.1 billion), approximately 40,000 active military personnel (25,000 Army; 9,000 Navy; 6,000 Air Force) (2022), the military's equipment inventory is mostly older and derived from a wide variety of sources; in recent years, Ecuador has received limited amounts of military equipment from more than 15 countries, including Brazil, China, Russia, and the US (2022), 18 years of age for selective conscript military service, although conscription was suspended in 2008; 18 years of age for voluntary military service; Ecuadorian birth requirement; 1-year service obligation; females have been allowed to serve in all branches since 2012 (2022)note: in 2017, women made up an estimated 3% of the military, border conflicts with Peru dominated the militarys focus until the late 1990s; as of 2023, border security remained a priority, but in more recent years, security challenges have shifted towards counterinsurgency and counter-narcotics operations, particularly in the northern border area where violence and other criminal activity related to terrorism, insurgency, and narco-trafficking in Colombia, as well as refugees from Venezuela, has spilled over the border; troop deployments along the border with Colombia were scaled back following the 2016 signing of a peace agreement between the Colombian Government and the Revolutionary Armed Forces of Colombia (FARC) terrorist group (see Appendix T), but recent violence associated with FARC dissidents to the agreement have led Ecuador and Colombia to reinforce their shared border; since 2012, the Ecuadorian Government has also expanded the militarys role in general public security and counter-narcotics operations, in part due to rising violence, police corruption, and police ineffectiveness, the military has had a large role in Ecuadors political history; it ruled the country from 1963-1966 and 1972-1979, and supported a dictatorship in 1970-1972; during the 1980s, the military remained loyal to the civilian government, but civilian-military relations were at times tenuous, and the military had considerable autonomy from civilian oversight; it was involved in coup attempts in 2000 and 2010, the International Maritime Bureau continues to report the territorial and offshore waters of Ecuador as at risk for piracy and armed robbery against ships; vessels, including commercial shipping and pleasure craft, have been attacked and hijacked both at anchor and while underway; crews have been robbed and stores or cargoes stolen; there has been a slight decrease with four attacks reported in 2021 and five in 2020; one ship was boarded while underway and two ships were fired upon, organized illegal narcotics operations in Colombia penetrate across Ecuador's shared border, refugees (country of origin): 65,854 (Colombia) (refugees and asylum seekers) (2021); 513,900 (Venezuela) (economic and political crisis; includes Venezuelans who have claimed asylum, are recognized as refugees, or have received alternative legal stay) (2022), Ecuador is a major transit country for illicit drugs such as cocaine, heroin and chemical precursors to process cocaine from Colombia and Peru; not a major drug producing country, total population growth rate v. urban population growth rate, 2000-2030, Children under the age of 5 years underweight, School life expectancy (primary to tertiary education), International law organization participation, Gini Index coefficient - distribution of family income, Household income or consumption by percentage share, Civil aircraft registration country code prefix, Military and security service personnel strengths, Military equipment inventories and acquisitions, Refugees and internally displaced persons, Center for the Study of Intelligence (CSI). It meets the standards that are currently used to describe third-world countries. The country faces human rights challenges, limited free speech, and limited access to womens reproductive health care. )consumption: 342.407 million cubic meters (2019 est. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. In short, it is essential to adopt measures to boost private investment, attract foreign investment to new sectors, and enable productive factors, especially the workforce, to have the flexibility to gravitate towards the most productive emerging sectors. Here are some of them. Ecuador's high poverty and income inequality most affect indigenous, mixed race, and rural populations. Secondary education is divided into two cycles of three years. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Instead of describing countries as Third World, most modern speakers and writers favor more accurate, inoffensive terms such as "developing countries" and "least-developed countries" (calculated by the United Nations Human Development Index) or "low-income countries" (based upon World Bank data). According to the Multiple Indicator Cluster Surveys (MICS), the infant mortality rate in Ecuador was ranked 45 out of 84 in 2018. There are several fascinating facts that Ecuador is known for. Between 1904 and 1942, Ecuador lost territories in a series of conflicts with its neighbors. Increased access to better quality services in education and social protection. In 2000, half of the countrys population lived below the poverty line. Even though there are various cases of insecurity, safety isnt a major issue for most tourists. Additionally, more efficient spending and the adoption of international transparency standards in public management will contribute to the sustainability and protection of social services. In 2016, there were leaked video recordings of prison guards assaulting inmates. )note: data are for urban households only, revenues: $33.43 billion (2017 est. The economy is poor and a big part of the population lives below the poverty line. )permanent crops: 5.6% (2018 est. When some non-aligned nations came together to form the Non-aligned Movement in 1961, the term was used to describe the member nations of the movement. )consumption: 26,353,430,000 kWh (2019 est. CDC's Travelers' Health Web site contains detailed advice for health care providers. The capital Quito is listed by Unesco as a World Heritage Site, The Galapagos Islands - home to blue-footed boobies and iguana - are an offshore territory of Ecuador. As of January 2021, Ecuador had 8.3 billion barrels of proved crude oil reserves. Even though enrolment to primary schools is over 95%, about 25% of children drop out before getting to the sixth grade. Ecuador is one of the largest recipients of refugees in Latin America. Quito formerly known as San Francisco de Quito. These risks not only impact the countrys economic performance, but also affect consensus-building efforts to bring about social and political stability. ), 59 deaths/100,000 live births (2017 est. These operations cover the sectors of transportation, water and sanitation. )hydroelectricity: 77.2% of total installed capacity (2020 est. ), 1 (2021 est. In Ecuador, there isnt much information on vocational training. Many women in Ecuador are at risk of getting unsafe abortions for the fear of prosecution. Currently, it is estimated that at least 93% of Ecuadorians speak Spanish. Only momentary reliefs fail to solve the root cause of the issues impeding development. Is Ecuador a third world country? )$11,400 (2019 est. (2020) so also sent to the National Assembly a new regulation proposal that is still under discussion. note: data are in current year dollars$22.401 billion (2020 est.) Countries in the world by population (2022) This list includes both countries and dependent territories. Now, thats a huge number.if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[120,600],'aboxofadventure_com-large-mobile-banner-2','ezslot_4',111,'0','0'])};__ez_fad_position('div-gpt-ad-aboxofadventure_com-large-mobile-banner-2-0');if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[120,600],'aboxofadventure_com-large-mobile-banner-2','ezslot_5',111,'0','1'])};__ez_fad_position('div-gpt-ad-aboxofadventure_com-large-mobile-banner-2-0_1'); .large-mobile-banner-2-multi-111{border:none !important;display:block !important;float:none !important;line-height:0px;margin-bottom:15px !important;margin-left:auto !important;margin-right:auto !important;margin-top:15px !important;max-width:100% !important;min-height:600px;padding:0;text-align:center !important;}. As a result, hunger, crime, and mortality rates are higher in comparison. Ecuador has amazing people, plenty of attractions, and a stable government. Is Ecuador a third world country? )$2.69 billion (2020 est. 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