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Finance of Ecuador

The minimum monthly wage in Ecuador is 451 USD. Ecuador has a government debt of 27.3% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Ecuador is 2.6%. The currency of Ecuador is United States dollar. The United States dollar is one of the most significant currencies in the world, and is used in several territories besides The United States including Puerto Rico, Guam, and The US Virgin Islands. The United States dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word United States dollar is dollars. The symbol used for this currency is $, and it is abbreviated as USD. The United States dollar is divided into cent; there are 100 in one dollar. Each year, consumers spend around $36,774 million. The ratio of consumer spending to GDP in Ecuador is 0.04%, and the ratio of consumer spending to the world consumer market is 10.6%. The corporate tax in Ecuador is set at 22%. Personal income tax ranges from 5% to 35%, depending on your specific situation and income level. VAT in Ecuador is 12%. In 2013, Ecuador received 149.4 million USD in foreign aid.In 2014, the foreign aid amounted to 158.8 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Ecuador is $181,153 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Ecuador was last recorded at $10,742,361. PPP in Ecuador is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Ecuador is 94,473 billion. Based on this statistic, Ecuador is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Ecuador was last recorded at $5,602,243. The average citizen in Ecuador has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Ecuador averaged 4% in 2014. According to this percentage, Ecuador is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well.