Consumption in Ecuador
Ecuador - Consumption
GDP growth slows further in Q1
GDP eased to 3.8% in annual terms in Q1 2022, below Q4 2021’s 4.9% expansion.
The slower growth in Q1 was due to weaker private consumption growth, which softened to 6.7% in Q1 2022 (Q4 2021: +9.6%). Conversely, fixed investment growth rose to 4.0% in Q1 2022 (Q4 2021: +3.9% yoy), while government consumption growth accelerated to 6.5% in Q1 2022 (Q4 2021: +4.4%).
On the external front, exports of goods and services declined 0.4% in Q1 2022 (Q4 2021: -3.7%), while imports of goods and services grew 8.1% (Q4 2021: +7.3%).
Lastly, on a seasonally-adjusted quarter-on-quarter basis, economic growth decelerated to 0.4%, following Q4 2021’s 0.7% expansion.
FocusEconomics panelists project GDP to expand 2.8% in 2022, which is down 0.1 percentage points from last month’s forecast. In 2023, the panel sees GDP growth moderating to 2.3%.
Ecuador - Consumption Data
|Consumption (annual variation in %)||0.3||-2.0||3.6||2.4||0.7|
5 years of economic forecasts for more than 30 economic indicators.
Ecuador Consumption Chart
Source: Central Bank of Ecuador and FocusEconomics calculations.
|Exchange Rate||25,000||0.0 %||Dec 31|
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August 5, 2022
Consumer prices rose 0.16% over the previous month in July, which was below the 0.65% increase recorded in June.
July 18, 2022
Economic activity grew 12.1% year on year in May (April: +10.0% yoy).
July 6, 2022
Consumer prices rose 0.65% in June over the previous month, accelerating from May's 0.56% increase.
June 30, 2022
GDP eased to 3.8% in annual terms in Q1 2022, below Q4 2021’s 4.9% expansion. The slower growth in Q1 was due to weaker private consumption growth, which softened to 6.7% in Q1 2022 (Q4 2021: +9.6%).
June 6, 2022
Consumer prices increased 0.56% over the previous month in May, slowing down from April's 0.59% increase.