Before exploitation of the commodity in the 1970s, cocoa and coffee provided 83 per cent of export revenue. By 1992 these crops were worth 25 per cent of revenue and oil 44 per cent. During the 1980s oil production was affected by the collapse of world prices and, in 1987, by a severe earthquake, but by the 1990s was recovering. President Ballen left the Organization of Petroleum Exporting Countries in November 1992, allowing the country to produce as much oil as it wishes without external constraint. The government has encountered opposition from the indigenous Indian population, who have complained of water pollution caused by oil exploitation and, more recently, over land redistribution programmes.
Agriculture is still very important to the economy, and is the largest employer.
Ecuador is the world's leading exporter of bananas, and these and shrimps are now ahead of coffee and cocoa in importance. However, the shrimp industry has faced continuing problems due to water pollution, caused, ironically, by banana fungicides. The government is committed to a free market economy and has embarked on a major privatization programme. There has, however, been little progress because Congress is controlled by the opposition. The government has also taken the country into the Andean Free Trade Area.