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16.08.2007

National income

In 1996 gross domestic product (GDP) of Ecuador formed approximately 19 billion dollars or equivalently 1630 dollars per capita. Taking into account relatively keen prices (economists call it purchasing-power parity) GDP per capita formed about 4000 dollars.

In 1996 the share of oil production industry was 11% of GDP, manufacturing industry was 21%, trade industry was 20 % and that of agricultural industry – 12%. After exceptionally high rates of growth – 7,5% – during the period under oil boom conditions, in the 1980s dramatic drop of growth in economics became evident, when the year-on-year increase didn’t exceed 2%. After some increase in the early 1990s (in 1991 increase formed 5%) the rates of growth were slowed down again and in 1995 came up to those of the 1980s. Average increase of GDP in 1991-1996 formed 3,4% a year.

 

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