BUSINESS

Agriculture - Construction - Energy - Justice - Fishing - Oil & Mining - Services - Telecom

Agriculture

EEcuador is a rich agricultural country, with varied climates and abundant water resources. It is well suited for the production of a large variety of products. Farmers of the Sierra region produce grains, vegetables, and livestock for domestic consumption and export. The coastal lowlands produce bananas, coffee, cocoa, rice, and fruits.

According to statistics by the Ministry of Agriculture, agricultural exports, fishing, livestock, and forestry contributed 11% of Ecuador 's GDP in 1999. Ecuador is the largest producer of bananas in the world, and the second producer and exporter of roses, after Colombia . In 1999, banana exports reached USD 954.4 million, while cut flower exports sold USD 180.4 million.

Other major agricultural exports include coffee, cocoa, rice, and palm tree oil. In 1999 raw and processed coffee export earnings reached USD 56.9 million and cocoa exports earned USD 63.9 million.

Since the mid 1990's, Ecuador 's traditional agriculture producers have ventured into the production and export of "exotic" or non-traditional products, such as passion fruit, mangoes, broccoli, palmito, macadamia nuts, etc. These products are now gaining a place and recognition for their high quality and competitive prices in international markets.

Agricultural producers are also turning organic, utilizing traditional practices that do not use chemicals for production and harvesting of fruits and vegetables. More and more, Ecuadorian companies are using "green" labels to export their products to the U.S. and Europe .