Ecuador Economic Activity April 2021

Ecuador

Ecuador: Economic activity hits record high on low base effect in April

June 15, 2021

Economic activity grew a robust 54.7% in annual terms in April, rising notably from March’s 11.0% expansion. Skyrocketing oil output in the same month—following a year of contractions—likely contributed to the jump. That said, the print, which marked a record-high, was flattered by a supportive base effect.

Accordingly, the trend improved notably, with the annual average variation of economic activity coming in at minus 2.4%, up from March’s minus 9.8%.

LatinFocus panelists project GDP to grow 3.2% in 2021, which is unchanged from last month. For 2022, the panel sees GDP growth at 2.5%.


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Ecuador Economic Activity April 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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