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Ecuador is an Lower Middle Income economies comes under Latin America and Caribbean region as to the classification made by the world bank on the basis of income and region for the year 2006.
The Ecuador economy largely dependent upon petroleum type products. It has experienced a fast recovery in the commencement of twenty first century following the record prices in the petroleum products.
Major agricultural products of the country are coffee, cocoa, rice, potatoes, and dairy products. Important industries in the countrty are petroleum, food processing, chemicals and textiles. Its economy is also largely benefited from exports of bananas.
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