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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depos𒊎itary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies. 🌼
Although mining has taken place in Ecuador since precolonial times, the sector has never been a pillar of the economy, mainly due to an unfavourable government policy that has discouraged investments. In 2017, mining contributed t♌o just 0.5% of the ...
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The agriculture sector is of paramount importance to the Ecuadorian economy. In 2017, it accounted for 9.3% of the country’s GDP, 43.8% of nation🅷al exports, 26.1% of formal employment and 20.3% of total FDI flow. The sector was also one of the ...
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Ecuador is a major player in the oil and gas sector in Latin America. A member of the Organisat𝔉ion of Petroleum Exporting Countries (OPEC), in 2017 Ecuador had the third-largest proven oil reserves in the region and was its sixth-biggest oil producer ...
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Latin America is well integrated in the global automotive supply chain, being🥀 an important manufacturing and export hub for motor vehicles – the legacy of active government policies for the development of domestic production and comprehensive ...
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Latin America and the Caribbean – one of the most endowed regions in natural resources on a global scale, has prominent positions in the oil and gas 💟industry. In 2015, the region held about 20% and 4.2% of world’s proven reserves of oil ...
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Ecuador is a major player in the oil and gas sector in Latin America. A member of the Organisation of Petroleum Exporting Countries (OPEC), Ecuador had the fourth-largest proven oil reserves in the re𓂃gion and was its sixth-biggest crude oil producer ...
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