These are the ten cantons that generate the most wealth in Ecuador

Guayaquil, Quito and Cuenca are the three most populous cities and the ones that have historically generated the largest amount of wealth measured by gross value added (GVA), which is the subtraction of the monetary value of all goods and services produced minus what is consumed in the process (interphase consumption).

However, the latest National Accounts Report of the Central Bank of Ecuador, published in December 2023, shows that the canton of Orellana, in the province of the same name, barely surpassed Cuenca (Azuay) for the first time, which dropped to fourth place.

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In addition, the cantons of La Joya de los Sachas and Samborondón (Guayas) enter the top 10 and omit Manta (Manabí) and Santo Domingo, in the province of the same name.

Both Orellana, La Joya de los Sachas (Orellana) and Shushufindi (Sucumbíos) are among the ten cantons that have the main economies of Ecuador due to the oil wealth found in their territory.

For example, care 89.5% of Orellana’s VAT corresponds to the mining and quarrying sector, which includes to oil activity.

IN Shushufindi and La Joya de los Sachas, oil represents 87% and 90% of GVA those cantons.

The rest for these three cities is to diversify their economy to achieve new growth niches in other sectors and not depend so much on limited resources like oil.

Petroecuador announced that it had reached a production peak of 404,290 barrels of oil per day

The other cantons on the list have a more diversified economy, but sales are also supported by the resources in their territories, which is why some are stronger than others.

In the case of Guayaquil, it is the most commercial canton in the country ($5,379.3 million), followed by professional and real estate activities ($5,026 million), manufacturing ($4,455 million), accommodation and food services ($2,501.9 million), health ($1342.3 million) and agriculture ($1336.2 million).

On the other hand, the six sectors generating the most income in Quito are professional and real estate activities ($5,885.2 million), trade ($5,166.4 million), accommodation and food services ($3,013 million), manufacturing (2,694.1 million USD), financial activities (2,089.8 million USD) and public administration (1,501.9 million USD).

Guayaquil is stronger in manufacturing and the agricultural sector (shrimp and bananas), while Quito is the leader in financial activities, tourism and public administration, which also promotes external consultants mainly carried out by billing professionals.

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Low pool in this one ranking in fourth place. It is a service city that excels in trade ($938.1 million), manufacturing ($769.8 million), professional or real estate activities ($538.4 million), financial activities ($372.5 million) , public administration ($290 million), construction ($283.5 million), health ($271 million), teaching ($213 million), and accommodation and food services ($206.7 million).

Durán (Guayas) has established itself as the fifth largest economy in the country, reaching a GVA of 3,219.6 million dollars only in the year when the peak of the violence that this canton is on the brink of. Even its mayor, Luis Chonillo, runs the city in secret due to death threats.

And there are reports of charging for vaccines in factories and businesses. Nevertheless, the investments nurtured the industrial park that is part of the urban conglomerate around Guayaquil.

Machala (El Oro) and Ambato (Tungurahua) continue to do so top. The former is strong in trade ($628 million), the agricultural sector with bananas and cocoa ($446.4 million) and manufacturing ($242.2 million). In fact, it is the second canton that generates the most nationally in the agriculture and fisheries sector, surpassed only by Guayaquil. These currencies mainly correspond to exports.

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The fifth most commercial city in the country after Guayaquil, Quito, Cuenca and Machala is Ambato with 469.1 million dollars. Manufacturing ($258.4 million) and public administration ($213.4 million) continue respectively in the capital Tungurahu.

Finally, Samborondón, which is part of the urban conglomerate of Guayaquil, closes this top in tenth place with $1,815.1 million generated. It is a purely service-based city, so professional and real estate activities are the sector that contributes the most to GVA at $648 million. Trade continues ($386.3 million), both supported by the large purchasing power of the population.

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The VAT of Quito and Guayaquil represents 46.2% of the total national amount. If the wealth realized in the areas of influence of both cantons is added, the weighting reaches 53.6%.

Hence the need for policies to encourage investment so that it goes to the rest of the country, achieving more balanced development.

Analyst and mathematician Juan José Illingworth suggests that the policy of reducing income taxes due to investment outside of Quito and Guayaquil would be part of the explanation why neighboring cantons such as Durán, Samborondón and Rumiñahui have grown.

"More than one law promotes investment outside the two main cities of Ecuador. For this reason, some companies decide to go to neighboring cantons that benefit from the proximity of the market concentrated in Guayaquil and Quito,” he says.

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