what are some economic activities of ecuador?
and what tools and or/machines/procedures do the people need?
- 1 decade agoFavorite Answer
Hi I understand you are some kind of market research to export machinery to Ecuador.
As a business man here Ecuador is not a producer or tech tools any of them just has a 100 companies who produce machinery.
In order to export machinery or tools I recommend you talk with the main hardware chains in Ecuador Disensa, it has almost 300 franchisers all around country it means they have the commercial network you need to sell your products.
The contacts for Disensa in Ecuador are: http://www.disensa.com/ this company is part of Holcim Ecuador the major producer of cement in Ecuador.
I guess it will be useful if your try to enter in the market the big markets B2C by population are Guayaquil, Quito, Cuenca, Santo Domingo de los Colorados and Manta this cities concentrate almost the 80 % of the industries so they you will get business.
The main business or industrial lines are:
Tourism and hospitality
All of these industries has their own entrance barriers but is quite easy for a north american or europen business people to get in by the special perception that they do right business and have the know how about different technical areas.
For business operations I recommend to open your offices in Quito or Guayaquil both are the main markets for publica a private organizations, but in Quito you has the value you are near to the petroleum industry because as the capital of the country the main business in petroleum is managed here.
For importation of products we recommend use the Manta port because the Guayaquil port is busy and filled with corruption (all the ecuadorian customs are filled with that) problems in Ecuador Customs, we recommend hire an "Agente Afianzado de Aduanas" or Customs agent who can provide you with the support to deal with the Ecuador Customs.
The importation process takes almost 15 days from the Estates and more than 21 from Europe, if your production facilities are in China or related countries you could take almost a month to get the merchandise.
In Ecuador customs take almost 3 or 5 business days to get out you container if you don't have troubles with customs but in some cases the container can take almost a month to get off the customs. To import product you must fill a document called certificado de importacion which is an importation document who tells tue Ecuador customs about the merchandise who is in the container this process is done by the Agente de Aduanas.
I guees this information could make easier your business in Ecuador
- 1 decade ago
I find your question strange,,,,, you want to know the economic activities?
Well... Ecuador's main export product is oil... but it is mostly operated and regulated by the government, so the private sector is mainly agricultural.
Main products are bananas, coca, coffe, flowers, mangos... and lots of exoctic fruits. There is also a lot of shrimp, fish and other seafood (harvested and open sea caught) fresh, frozen, cooked....
Well still there are many other industries but with a local, maybe regional market.
Tourism is also a growing sector.
The money from the emigrants have boosted the construction sector...
And then you ask: what tools and or/machines/procedures do the people need? Need for what? To harvest cocoa? To help development?
Fisrt of all, Machinery is one of Ecuador's main imports, that is because the local market is very limited. So they need many kinds of machinery, but the machine by itself is useless. From the internatinal community they need fair access to external markets. The Ecuadorians by them selves must reach stability and trust in the their country.
Once those two points are reached Ecuador will increase the up till now low, development rate.
- 1 decade ago
The economy of Ecuador is based on petroleum production, money transfers from nearly a million Ecuadorian emigrants employed abroad, and exports of bananas, shrimp, and other primary agricultural products. In 2002, oil accounted for about one-third of public sector revenue and 40% of export earnings. Ecuador is the world's largest exporter of bananas ($936.5 million in 2002) and a major exporter of shrimp ($251 million in 2002). Exports of nontraditional products such as flowers ($291 million in 2002) and canned fish ($333 million in 2002) have grown in recent years. Industry is largely oriented to servicing the domestic market.
Deteriorating economic performance in 1997-98 culminated in a severe economic and financial crisis in 1999. The crisis was precipitated by a number of external shocks, including the El Niño weather phenomenon in 1997, a sharp drop in global oil prices in 1997-98, and international emerging market instability in 1997-98. These factors highlighted the Government of Ecuador's unsustainable economic policy mix of large fiscal deficits and expansionary money policy and resulted in an 7.3% contraction of GDP, annual year-on-year inflation of 52.2%, and a 65% devaluation of the national currency in 1999.
On January 9, 2000, the administration of President Jamil Mahuad announced its intention to adopt the U.S. dollar as the official currency of Ecuador to address the ongoing economic crisis. Subsequent protest led to the removal of Mahuad from office and the elevation of Vice President Gustavo Noboa to the presidency.
The Noboa government confirmed its commitment to dollarize as the centerpiece of its economic recovery strategy, successfully completing the transition from sucres to dollars in 2001. Following the completion of a one-year stand-by program with the International Monetary Fund(IMF) in December 2001, Ecuador successfully negotiated a new $205 million stand-by agreement with the IMF in March 2003.
Buoyed by higher oil prices, the Ecuadorian economy experienced a modest recovery in 2000-01, with GDP rising 2.3% in 2000 and 5.4% in 2001. GDP growth leveled off to 3.3% in 2002. Although final figures are not yet available, it is expected to fall further, to about 1.7%, for 2003. But GDP growth is estimated to recover to over 4% in 2004, due largely to expanded oil exports. Inflation fell from an annual rate of 96.1% in 2000 to an annual rate of 22.4% in 2001; although final figures are not yet available, it is expected to drop below 7% for 2003. Despite recent gains, 70% of the population lives below the poverty line, more than double the rate of 5 years ago.
The completion of the second Transandean Oil Pipeline (OCP in Spanish) in 2003 will enable Ecuador to expand oil exports. The OCP will double Ecuador’s oil transport capacity, but Ecuador will need to attract additional foreign investment to realize the full economic potential of the added capacity.
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- Anonymous1 decade ago