Current Account in Ecuador

Ecuador Current Account | Economic News & Forecasts

Ecuador - Current Account

The economy seems to have regained some steam in the third quarter, following the weakest expansion in nearly three years in Q2. Economic activity picked up pace in Q3, likely underpinned by stronger oil production. That said, credit growth eased while consumer confidence weakened in Q3, suggesting that household spending faltered. In other news, on 17 November, Congress rejected the legislative package proposed by President Moreno, which included tax and Central Bank reforms, designed to narrow the budget deficit as part of a loan agreement with the IMF. The legislation had aimed to raise USD 700 million next year, mainly through increased corporate income taxes. In response, and under pressure to fulfill the IMF agreement and trying to pave way for additional financing, the government sent a new emergency law—which just includes the proposed tax reforms—to Congress on 25 November.

Ecuador - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-1.0  -0.7  -2.2  1.3  -0.5  

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Ecuador Current Account Chart


Ecuador Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Ecuador and FocusEconomics calculations.

Ecuador Facts

ValueChangeDate
Exchange Rate25,0000.0 %Dec 31

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