The equatorial economy will be affected by the 2020 SARS-CoV-2 pandemic. Following the central government, Ecuador recorded economic losses of more than $ 6,400 million between March and May due to the effects of COVID-19.
The productive sector was the most impacted, with 63.8% of total losses; followed by the social sector, with 20.2%; natural resources and infrastructure, with 15.6%; and the security in a 0.4%. The Mayor’s of economic losses will be produced in late April.
In terms of human impact, among other points, it is detailed that 240,000 people are defiled by social security and more than 100,000 young people, between 18 and 29 years old, will lose their jobs.
On the other hand, the Ecuadorian bank – due to its poor development during the pandemic, over all in relation to digital transactions – has decreased its profits in comparison to 2019, amounting to $ 560 million.
As of November 2020 (last year), the bank accounts of the accumulated countries utilized for $ 205 million.
Ranking of the most used diez banks in 2020 *
- Pichincha: $ 44.5 million
- International: $ 28.2 million
- Guayaquil: $ 25.8 million
- Bolivariano: $ 25.2 million
- Pacific: $ 24.8 million
- Restaurants: $ 20 million
- Producer: $ 15 million
- Austro: $ 8.6 million
- General Rumiñahui: $ 6.6 million
- Citibank: $ 5 million
* in November 2020
Source: Superintendency of Banks (I)