Ecuador Economic Activity January 2022

Ecuador

Ecuador: Economic activity gains momentum in January

April 6, 2022

Economic activity expanded 14.9% compared to the same month of the previous year in January, rising from December’s 13.0% increase. The figure was likely the result of healthier crude oil production in January, while the non-oil sector likely continued to support overall growth.

Meanwhile, annual average economic activity growth rose to 17.3% in January from 15.0% in December.

LatinFocus panelists project GDP to grow 2.9% in 2022, which is unchanged from last month. For 2023, the panel sees GDP growth at 2.2%.


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Ecuador Economic Activity Chart


Ecuador Economic Activity January 2022

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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