Republic of Ecuador, is a country in northwestern South America. It also includes the Galápagos Islands in the Pacific, about 1,000 kilometers (621 mi) west of the mainland. The capital is Quito. The territories of modern-day Ecuador were once home to a variety of Amerindian groups that were gradually incorporated into the Inca Empire during the 15th century. The territory was colonized by Spain during the 16th century, achieving independence in 1820 as part of Gran Colombia
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Economy: It's the eighth largest in Latin America and the 69th largest in the world by total GDP. It's economy is based on the export of oil, bananas, shrimp, gold, other primary agricultural products and money transfers from Ecuadorian emigrants employed abroad. In 2017, remittances constituted 2.7% of country's GDP. The total trade amounted to 98% of the Ecuador's GDP in 2017. The country is substantially dependent on its petroleum resources. In 2017, oil accounted for about one-third of public
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