Current Account in Ecuador

Ecuador Current Account | Economic News & Forecasts

Ecuador - Current Account

Economic growth likely softened in Q3 but remained robust nonetheless, as evidenced by double-digit growth in July–August. Higher consumer confidence on average in the quarter, coupled with a lower unemployment rate, suggests that household spending gained traction. Meanwhile, widespread protests that erupted towards the end of October, opposing an increase in fuel prices, bode ill for activity in Q4. In other news, on 29 October the government sent a modified tax reform to legislators. The bill, which targets higher earners, aims to increase tax revenue by USD 1.9 billion in the first two years after passage. Lastly, on 30 October, the government sent the draft 2022 budget to the National Assembly. The plan envisages spending of around USD 33.9 billion—roughly USD 2.4 billion above the projected expenditure for 2021—while it sees GDP growth at 2.9% and the fiscal deficit at 3.5%.

Ecuador - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-2.2  1.1  -0.1  -1.2  -0.1  

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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

Value Change Date
Exchange Rate25,0000.0 %Dec 31

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