Ecuador Economic Outlook
December 4, 2018An acceleration in economic activity throughout the third quarter suggests the economy sped up from Q2. While oil production was higher on average in Q3 compared to the previous quarter, the output of the petroleum sector in the first nine months was below the same period of last year, as the country’s state-owned oil company Petroamazonas EP slashed production. Reflecting the trend in oil production, export growth picked up in July and August before moderating in September. Meanwhile, a strong inflow of remittances has boosted household incomes and supported solid growth in private consumption. In other news, the government recently presented the 2019 budget to Congress. It aims to gradually reduce the fiscal deficit to 3.2%, mainly thanks to higher oil revenues and by cutting public sector wages.
Ecuador Economic GrowthThe economy is expected to lose steam next year as the government slashes public spending to strengthen its fiscal account. Private consumption will also likely lose ground as inflation picks up and credit growth weakens. While measures are underway to close the fiscal gap, the economy might be hard-pressed to achieve its 2019 financing plan without IMF assistance. Meanwhile, tighter global financial conditions pose downside risks, due to the dollarized economy’s heavy reliance on external financing. FocusEconomics panelists project GDP growth slowing to 1.0% in 2019, which is down 0.1 percentage points from last month’s forecast, before rising to 1.2% in 2020.
Ecuador Economy Data
5 years of Ecuador economic forecasts for more than 30 economic indicators.
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|Exchange Rate||25,000||0.0 %||Dec 12|
|Stock Market||1,405||0.17 %||Dec 12|
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Ecuador Economic News
December 6, 2018
Consumer prices declined 0.25% over the previous month in November, after a 0.05% month-on-month fall in October.
November 16, 2018
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity picked up in September, growing 4.8% over the same month of the previous year.
November 8, 2018
Consumer prices fell 0.05% over the previous month in October, contrasting a 0.39% month-on-month rise in September.
October 16, 2018
According to the monthly economic activity indicator (IDEAC, Indice de Actividad Económica Coyuntural) released by the Central Bank of Ecuador, economic activity accelerated in August, growing 5.3% over the same month of the previous year, after expanding 4.0% year-on-year in July.
October 5, 2018
Consumer prices rose 0.39% over the previous month in September, following a 0.27% month-on-month increase in August.