In the fourth quarter, GDP expanded 6.1% over the same period the year before, which undershot the revised 7.9% expansion observed in the third quarter (initially reported: +9.0% year-on-year) and represented, in fact, the slowest pace of expansion since Q3 2010. In the full year 2011, GDP expanded 7.8%, which more than doubled the 3.6% rise observed in 2010 and marked the strongest economic growth since 2004. The slower expansion observed in the fourth quarter reflected a noticeable deterioration in the external sector, while domestic demand improved. Total consumption rose 4.8% annually, slower than the 5.7% expansion observed in Q3. In addition, gross fixed investment increased a healthy 10.1%, which was below the 11.0% rise registered in the third quarter. That said, domestic demand benefited from lower destocking process. Exports of goods and services decelerated sharply from an 11.8% expansion in the third quarter to a 4.8% rise in the fourth. On the other hand, imports continued to decline, falling 2.1% in Q4 (Q3 2011: -1.8% year-on-year). As a result, the external sector's net contribution to overall economic growth fell from 4.9 percentage points in Q3 to 2.7 percentage points in Q4. A quarter-on-quarter comparison corroborates the deceleration suggested by the annual figures, as the economy expanded a seasonally adjusted 1.01% over the previous quarter, down from the 1.45% increase tallied in the third quarter. The Central Bank expects the economy to expand 5.35% in 2012.
GDP growth slows in last quarter of 2011
March 30, 2012
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Ecuador Economic News
October 11, 2016
In August, economic activity recorded an annual contraction of 2.8%, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural).
October 7, 2016
In September, consumer prices rose 0.15% over the previous month, contrasting August’s 0.16% decrease.
October 3, 2016
The Ecuadorian economy performed slightly better in the second quarter, the result of gradually improving oil prices and an increase in crude output.
September 8, 2016
In July, economic activity plummeted and recorded the largest contraction in over ten years.
September 6, 2016
In August, consumer prices fell 0.16% over the previous month, the lowest reading in over three years.