Overview of Quito

Economy of Quito

Home > Expat Guides > South America > Ecuador > Quito


With a GDP of 97.8 billion USD in 2016, the economy of Ecuador has been growing steadily since the 1960's. This growth was harshly interrupted by a severe financial crisis 1999, leading to high number of migrants leaving the country and the decision to change the local currency sucres to US dollars in 2001.

After this downfall, the country's economy started to grow again with an average of 4,6% from per year between 2001 and 2006, and even more the years after that.

Ecuador, being a biodiverse country, has many national resources. Major export products are oil, bananas, shrimps, and gold, but also the export of flowers, mainly roses, and canned fish stimulate the Ecuadorian significantly. Natural products like cacao and coffee (beans) are gaining popularity in the worldwide market, because of their good quality.


Ecuador's capital is the second largest city of the country, after the coastal city of Guayaquil. Because of its large harbor, Guayaquil is the main trading city, especially for important export products like bananas, shrimps, and canned tuna.

Quito is Ecuador financial and political center; most ministries and secretaries are located in the capital. Also, Quito is located in north of the country, were many rose plantations are located, creating a growing flower industry benefiting the inhabitants of the capital.

Another important industry in Quito is tourism. The capital is the port for tourists entering the country, whether they come to explore the mainland or to visit the Galapagos Islands. Therefore, many tour agencies and operators are located in the capital creating job opportunities for both Ecuadorians and foreign residents.

Update 24/01/2019

Related articles:


Facebook Twitter LinkedIn Pinterest Addthis

Recommended Service Partners

International Movers

When you move internationally you are taking a big step. Lots of things are changing and you have a million things to think about and take care of. If you are able to select a top of the line moving company that moves for a modest price, it can take a big weight of your shoulders in busy times.

Our network of international removal companies can move your furniture & possessions to Ecuador and anywhere overseas.

Filling in the form at the bottom will allow you to request up to 5 quotes from various moving companies. This service is free of charge and will help you select an international moving company that suits your needs and budget.

Do you have comments or personal information to communicate about this article? Add your comment.

Go to the Forum to talk more about economy of Quito, overview.

Find more definitions and general answers on expatriation issues in the Expat FAQ (Frequently Asked Questions).