The Auto vs the Housing Sector in Ecuador

Auto and Housing Sectors:

According to the Ecuador Central Bank, in 2000 the amount of cars sold was 18,983, while in 2008 112,684, and in 2009 90,000 (A significant increase).

The local housing market has grown 86% from 2000 to 2010. Many feel these growths were primarily due to the increase in credit since the dollarization and the increase in remittances sent to Ecuador from family working abroad (in 2000 1,200 million was sent while in 2009 2,800 million).

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