Ecuador

Герб
 Флаг
 

Coat of arms: in the background of the oval shield is the mount Chimborazo, while the river originating from its base represents the Guayas. They both symbolize the beauty and wealth of the respective regions (Sierra or Costa). The ship on the river is named Guayas as well. In 1841 it was built in Guayaquil and was the first riverine steamship built on the South American west coast; instead of a mast it features a Caduceus representing trade and economy. On top Inti in form of a golden sun surrounded by the astronomical signs for Aries, Taurus, Gemini and Cancer representing the months March to July to symbolize the duration of the March Revolution of 1845.

The condor on top of the shield stretches his wings to symbolize power, greatness and strength of Ecuador. The shield is flanked by four flags of Ecuador. The laurel on the left represents the victories of the republic. The palm leaf on the right side is a symbol of the martyrs of the fight for independence and liberty. The fasces below the shield represents the republican dignity.

Flag: consists of horizontal bands of yellow (double width), blue and red, was first adopted by law in 1835 and later on 26 September 1860. The design of the flag is very similar to those of Colombia and Venezuela, which are also former constituent territories of Gran Colombia.

 
  • Anthem: «¡Salve, Oh Patria!» is the national anthem of Ecuador.
  • Official languages: Spanish.
  • Geographical location: it is a country in northwestern South America, bordered by Colombia on the north, Peru on the east and south, and the Pacific Ocean to the west. Ecuador also includes the Galápagos Islands in the Pacific, about 1,000 kilometres (620 mi) west of the mainland.
  • Administrative divisions: Ecuador is divided into 24 provinces.
  • Capital: Quito.
  • Governance: the politics of Ecuador are multi-party. The central government polity is a four-yearly elected presidential, unicameral representative democracy. The President of Ecuador is head of state and head of government on a multi-party system, leading a cabinet with further executive power. Legislative power is not limited to the National Assembly as it may to a lesser degree be exercised by the executive which consists of the President convening an appointed executive cabinet. Subsequent acts of the National Assembly are supreme over Executive Orders where sufficient votes have been cast by the legislators. The judiciary is independent of the executive and the legislature.There is also constitutional republic.
  • Population: 16.02 million.
  • Currency: United States dollar.
  • GDP: $90.2 billion.
  • Time zone: GMT -5.
  • Telephone code: +593.
  • Barcode: 786.

 

Trade and economic cooperation between Belarus and Ecuador

Belarus mainly exports potassic and nitrogenous fertilizers, metal products to this country, Ecuador supplies bananas, flowers, vegetable extracts, fish to Belarus through other countries. Belarus has trade deficit in trade with this country.

Dynamics of trade between Belarus and Ecuador (in million U.S. dollars)

Year

Turnover

Exports

Imports

Surplus

2011

47.0

20.7

26.3

-5.5

2012

15.9

5.1

10.8

-5.7

2013

24.8

5.3

19.5

-14.2

2014

36.5

13.5

23.0

-9.5

2015

77.5

4.2

73.3

-69.1

January — October 2016

38.5

11.8

26.7

-14.9

Although Belarusian exports of goods to Ecuador are low, exports of services are increasing (there are offices of OJSC Belorusneft and OJSC Belzarubezhstroy, which render services in construction and oil production in Ecuador). In 2015, Belarusian exports of services increased by 21.7% to $35.1 million as compared to 2014.

The main reasons for the decline in Belarusian exports to Ecuador in 2015 were:

  • exports of potassic fertilizers fell from $7.4 million in 2014 to $1.9 million;
  • oil engineering and geology-prospecting equipment was not supplied to Ecuador under the contracts with OJSC Belorusneft;
  • the economic situation deteriorated in Ecuador due to a drop in world oil prices (it was unprofitable for the country to export its oil as of year-end 2015);
  • Ecuador cut funding and suspended several projects, in which Belarusian companies could potentially take part;
  • the government of the country imposed taxes (up to 45%) in March 2015 to limit imports of 2 900 goods.

 

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in the Republic of Ecuador, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in Ecuador for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

When using the materials of this article, the link to Export.by is obligatory.

Best wishes,

Administration of Export.by

Back to Country Guidebooks List