Regarding total production, the services sector has contributed the most (US
$55,922 million) followed by the bioeconomy (US$30,452 million); the latter is
even larger than the manufacturing and construction sectors, as displayed in
Fig. 3.4b. Consequently, the bioeconomy has room for growth in the production
of goods and services. Once the labour and production aspects are exposed, we will
expand the contribution of the bioeconomy in the generation of gross added value in
society, i.e., the generation of wealth, as well as its contribution in taxes for the
Ecuadorian state.
3.6.3 Growth and Taxes
Conceptually, the added value is composed of the sum of capital and labour
remunerations. In 2017, the Ecuador generated US$97,082 million in gross added
value contributions, considering all sectors in the economy. As may be expected,
Fig. 3.5a shows that the services sector was the main contributor (38%), followed by
the bioeconomy (14%). Of the US$13.279 billion in added value linked to the
bioeconomy, it is worth noting that there is an equitable participation between the
primary (bioagriculture) and secondary sectors (mostly crop and animal-related
bioindustry and biomanufacture). Since there is low remuneration for the labour
factor in the primary sector of the bioeconomy, this large contribution to the gross
value added would be explained by a higher return to the capital factor in this same
sector.
Fig. 3.5 Contribution to gross added value (a) and taxes on production (b) Source: Central Bank of
Ecuador (BCE) (2017a, b)
3 Social and Economic Contribution of the Bioeconomic Sector in Ecuador: A. . .
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