Ethyl 5-nitrobenzofuran-2-carboxylate is primarily used in organic synthesis as a key intermediate for the development of more complex chemical compounds. Its structure, featuring a nitro group and a benzofuran core, makes it valuable in the synthesis of pharmaceuticals, particularly in the creation of molecules with potential biological activity. It is often employed in research settings to explore new drug candidates, especially in areas like anti-inflammatory, antimicrobial, or anticancer therapies. Additionally, it serves as a building block in the preparation of dyes, agrochemicals, and other fine chemicals, where its reactive nitro group can be further modified to achieve desired properties.