Ecuador Economic Activity November 2021

Ecuador

Ecuador: Economic activity rises in November

January 15, 2022

Economic activity expanded 13.8% compared to the same month of the previous year in November, improving from October’s 12.6% increase. Another, albeit somewhat milder, decline in output of oil—the country’s key commodity—in November suggests that the non-oil sector continued to be the main driver of growth.

Meanwhile, annual average economic activity growth rose to 12.9% in November from 11.2% in October, signaling an improving trend.

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 November 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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