Ecuador Economic Activity March 2021

Ecuador

Ecuador: Economic activity jumps in March

May 13, 2021

Economic activity rebounded solidly, growing 11.0% in annual terms in March and contrasting February’s 6.1% slide. The print marked the best result in nearly four years. A milder decline in oil production in March coupled with surging oil prices in the first half of the month likely contributed to the result. However, the reading was also flattered by a low base effect.

Moreover, the trend improved markedly, with the annual average variation of economic activity coming in at minus 9.8%, up from February’s minus 11.5%.

LatinFocus panelists project GDP to grow 3.3% in 2021, which is down 0.2 percentage points from last month. For 2022, the panel sees GDP growth at 2.5%.


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Ecuador Economic Activity March 2021 0

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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