Interesting Facts About Ecuador, this country boasts one the highest levels of bio-diversity in the world.
Ecuador has substantial oil resources and rich agricultural areas.
Because the country exports primary products such as oil, bananas, and shrimp, fluctuations in world market prices can have a substantial domestic impact.
Ecuador joined the World Trade Organization in 1996, but has failed to comply with many of its accession commitments.
In recent years, growth has been uneven due to ill-conceived fiscal stabilization measures.
The aftermath of El Nino and depressed oil market of 1997-98 drove Ecuador's economy into a free-fall in 1999.
The beginning of 1999 saw the banking sector collapse, which helped precipitate an unprecedented default on external loans later that year.
Continued economic instability drove a 70% depreciation of the currency throughout 1999, which eventually forced a desperate government to dollarize the currency regime in 2000.
Since then, Dollarization stabilized the economy, and growth returned to its pre-crisis levels in the years that followed.
From 2002-06 Ecuador economy grew 5.5%, the highest five-year average in 25 years. The poverty rate declined during this period but remained high at 38% in 2006.
After moderate growth in 2007, the economy reached a growth rate of 6.5% in 2008, in large part due to high global petroleum prices.
The ecology and environment are part of the most important facts about Ecuador.
For example: in the Ecuadorian Amazon, which represents just two percent of the whole basin, live one-third of all the bird species in the entire Amazon region, and 10 percent of all the tree species on earth.
Over 24 tropical life zones are found in Ecuador including: mangrove swamp, dry tropical forest, tropical cloud forest, paramo, and tropical lowland rain forest.
Due to its great variety of life zones, Ecuador boasts one the highest levels of bio-diversity in the world.
For example one hectare of lowland rain forest can contain as many frog species as in all of North America, one tree can contain more ant species than in all of the British Islands combined.
But perhaps one of the most important facts about Ecuador that attracts so many foreign visitors is that the country has one of the greatest levels of endemism (unique species) anywhere in the world.
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