Mountains in Ecuador

Ecuador Economic Activity May 2021

Ecuador: Economic activity growth moderates in May but remains solid

Economic activity grew 29.0% in annual terms in May, but eased from April’s 56.1% jump, largely due to a less favorable base effect. Nonetheless, the expansion was solid and was largely buoyed by a healthy increase in oil output—the country’s key export.

Meanwhile, the trend improved notably, with the annual average variation of economic activity coming in at 2.9%, up from April’s minus 1.8%.

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