Ecuador Economic Activity January 2021

Ecuador

Ecuador: Economic activity drops in January

March 15, 2021

Economic activity tumbled 5.0% in year-on-year terms in the first month of 2021, dropping at a faster pace than December’s 0.7% decline and falling at sharpest rate since September 2020.

On a month-on-month basis, economic activity rose 1.4% in January, slightly above December’s 1.3% increase. Meanwhile, the trend deteriorated, with the annual average variation of economic activity coming in at minus 10.1%, down from December’s minus 9.4%.

LatinFocus panelists project GDP to grow 3.5% in 2021, which is unchanged from last month. For 2022, the panel sees GDP growth at 2.3%.


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Ecuador Economic Activity January 2021 1

Note: Year-on-year changes and annual average variation of economic activity index in %.
Source: Ecuador Central Bank and FocusEconomics calculations.


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