Ecu which country

Specialization is measured using RCA, an index that takes the ratio between Ecuador observed and expected exports in each product. The highest complexity exports of Ecuador according to the product complexity index PCI are Wire of alloy steel except stainless steel 1.

PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters. The top export opportunities for Ecuador according to the relatedness index, are Gold 0.

Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Ecuador is not specialized in. The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

This network shows the products most related to the production structure of Ecuador. These are products that tend to be co-exported with the products that Ecuador exports.

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions. These economic complexity rankings use 6 digit exports classified according to the HS96 classification.

To explore different rankings and vary these parameters visit the custom rankings section. Explore Rankings. Under-five mortality rate. Not available. Trends in under-five mortality rate in Not available. View data. Visit childmortality. Read more about child protection. Read more about child survival. In , the expansion slowed down: 79 issues were made, totalling 6. In the first half of , 55 issues have already been made for a total amount of ECU 5. Fixed rate securities are sti11 in the majority but almost the entire range of the innovations that have appeared on other Euro-markets is also available for the ECU : variable rate issues, issues with warrants, zero coupon bonds etc.

An active secondary market has also developed, with the Luxembourg stock exchange being the quoting centre of ECU securities. Moreover the ECU has also come to play an important role in the international bank-credit and deposit market, as evidenced by the data collected and published by the Bank for international Settlements BIS. In December , total bank credits outstanding in ECU totalled Increasing use of the ECU is also made for price listing, invoicing and payments of international commercial transactions, not only between Community countries but with an increasing number of third countries as well.

Membership bas since increased to about 80 banks. From July onwards more banks will be added to the System. The official ECU circuit has been in existence before the private one. When the market started using the ECU it adopted the ECU as defined by Community legislation, including the revisions of its composition.

Preserving this definitional link is essential for the development of the private ECU markets, since it guarantees the unity and marketability of present and future ECU denominated instruments.

Although linked by a common definition, the official and private ECU circuits remain completely separated. The ECUs created by the private market can be held and used by all, including central banks. They are different assets, not only with respect to their "issuer" and their usability; they differ also to some extent with respect to their exchange and interest rate. Indeed, the exchange rate applicable to the official ECU is not strictly speaking a market rate but a rate calculated once a day.

Similarly, the official ECU's interest rate is calculated as the weighted average of domestic money market instruments, while in the private ECU market the interest rate is based on the Euro-money rates of the component currencies. However, the common definition of the official and private ECU guarantees that these differences would not prevent the establishment of an operational link between the two circuits when, at some time in the future, the officially issued ECU starts searching for a market and the private market ECU starts looking for an official issuer.

In fact, the ECU bas become a major "foreign" currency. The ECU's story is unique in modern monetary history, market forces transforming a unit of account into a fully usable foreign currency. However, national authorities have also played a role in this transformation process, as they will in the future development of the ECU.

This has implied formal recognition in countries that apply exchange control measures. In other countries, such as the United Kingdom or the Netherlands, recognition was informal or tacit. As a result, the ECU can be used by the residents of these countries in the same way as they use other foreign currencies. This implies that foreign exchange control restrictions also apply to the ECU, as they do to other currencies.

Following their treatment of the ECU as a foreign currency, all EEC countries have proceeded to admit the ECU at their daily official "fixing" of exchange rates on their markets.

The "fixing rates" are not calculated rates but market rates, based on supply and demand, with the central banks occasionally stepping in when arbitrage is not adequate. For countries whose currency is not in the ECU, allowing the ECU to be used by their residents as a foreign currency, granting it official recognition and admitting it to their fixing, hardly presents any legal or regulatory problems. Because of this, exchange control regulations or domestic money market rules had to be amended in some Member States.

No such problem existing in third countries, the use of the ECU in these countries will tend to depend on the geographical widening of the ECU markets. Thus, the ECU is well introduced, e. As for the United States, one obstacle to the ECU's use needs to be mentioned: domestic banks are not allowed to accept foreign currency deposits from their residents.

First and foremost, the ECU possesses qualities that make it attractive to both European and non-European users. For Europeans - i. It is an average. Consequently, the ECU rates in terms of a component currency are generally more stable and predictable than the rates between these component currencies.

The exchange rate stability of the ECU has further been enhanced by the successful performance of the EMS in gradually limiting the number and size of parity changes among its members, culminating in a period of sustained stability. As a result, the ECU bas been considered as carrying a relatively low exchange risk for European users. Consequently, interest rate differentials have tended to play a dominant role in the financial uses of the ECU, with borrowings made by high interest rate countries like Italy and France, while ECU resources tended to originate from low interest rate countries.

More recently, this exchange and interest rate relationship has tended to reverse itself: the interest rate differential has narrowed while the exchange rate risk has tended to increase, compounded by the sharp depreciation of the pound sterling. This reveals the importance for the ECU's development of a successful EMS performance and the participation of Sterling in the exchange rate mechanism.

For non-European users, the ECU does not, of course, present the same degree of stability in terms of their own currency. However, they can look at the ECU as a satisfactory "proxy" for the whole of its component currencies, more rewarding or less costly to use than the individual component currencies. Other factors have also contributed to the development of the ECU on the private markets.

In the early years, Community institutions have familiarized the banking sector with the management of this basket unit by opening ECU denominated deposit accounts in most Member countries. National authorities - Italy, Denmark, Ireland - have also extensively borrowed in ECU and the ECU is allowed to be used on the same terms as a regular foreign currency in a growing number of countries.

The private banking sector has enthusiastically adopted the ECU and promotes its use. Incidentally, it may be worthwhile recalling that banks are able to "create" ECUs in their books because the basket definition of the ECU allows them to rely on the money markets of the component currencies for the funding of any open ECU position. Last but not least, money being not just an ordinary commodity, one should mention a psychological factor: the ECU tends to be viewed as instrumental to the long-term goal of Europe's monetary integration.

In the public's eye - at least the European public - it has therefore a dimension and appeal that the composite units of the past have never possessed. In the longer term and from a European policy perspective, two - not mutually exclusive - roles could be envisaged for the ECU. A first role would cast the ECU as replacing the Communities' national currencies in their domestic functions. In other words, the ECU would become Europe's single currency, the national currencies being phased out in the process and all prices within the Community being denominated in a single unit, the ECU.

Admittedly, this can only be viewed in a long-term perspective. Indeed, monetary integration requires economic integration, for one cannot envisage Europe's national currencies being replaced by the ECU and the various national central banks being merged into a European central bank when, say, budgetary policy would still be determined at the various national levels.

And since budgetary matters are eminently political matters, some form of political integration European Union would certainly be required as well. The Agreement of February on a Revision of the Treaty of Rome sheds some light on these matters. It endorses the progressive realization of economic and monetary union as an objective of the Community and also states that progress in the economic and monetary areas should take into account the experience gained in the EMS and with the ECU.

But it is also stated that institutional changes in the monetary area should be implemented in accordance with Article of the Treaty, i.

Both the ambitious character of the ultimate goal and the time consuming procedures necessary to implement it, make this endeavour a long-term prospect. A second role that could be envisaged for the ECU is less ambitions and, consequently, its time horizon shorter. It sees the ECU as developing into Europe's foreign currency, i. In developing into Europe's international currency, the ECU would greatly contribute to the integration process in Europe.

The newly revised Treaty provides that by the end of , the Customs Union shall make way for a truly internal market on which goods, persons, services and capital will be free to move as on a domestic market. The unity and price transparency of the market for goods and services would be greatly enhanced if the ECU were generally to be used for the pricing of the intra-Community transactions.

Invoicing in ECU would share the exchange risk between importers and exporters, while actual payment in ECU would be cost saving since the need to run cash-balances in a variety of Community currencies would be reduced. Second, the ECU could be instrumental in fostering the development of an integrated European capital market.