Ecuador Economic Activity July 2021

Ecuador

Ecuador: Economic activity growth picks up pace in July

September 13, 2021

Economic activity expanded a robust 19.2% in annual terms in July, coming above June’s 16.0% increase. That said, July’s print, which marked the fifth successive month of double-digit growth, was largely flattered by a low base effect. The upturn was largely attributed to improvements in the non-oil sector, as suggested by a quicker drop in oil output.

Meanwhile, the trend improved markedly, with the annual average variation of economic activity coming in at 8.1% in July from 5.5% in June.

LatinFocus panelists project GDP to grow 3.3% in 2021, which is down 0.1 percentage points from last month. For 2022, the panel sees GDP growth at 3.1%. which is up 0.2 percentage points from last month’s estimate.


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Ecuador Economic Activity July 2021

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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