GDP in Ecuador

Ecuador GDP | Economic News & Forecasts

Ecuador - GDP

GDP growth slows further in Q4, but remains relatively healthy

GDP increased 4.9% in annual terms in the fourth quarter, below Q3’s 5.6% expansion, largely due to a less favorable base effect as conditions continued to strengthen in sequential terms.

Slower growth at the tail end of the year was predominately due to softer domestic demand dynamics. Fixed investment growth eased to 3.9% in Q4 (Q3: +9.9% yoy), while private consumption growth also slowed to 9.6% (Q3: +13.1% yoy). Meanwhile, government consumption growth accelerated to 4.4% in Q4 (Q3: +0.6%)

On the external front, exports of goods and services declined 3.7% in Q4 (Q3: -0.2%), while imports of goods and services grew 7.3% (Q3: +24.2%).

Lastly, on a seasonally-adjusted quarter-on-quarter basis, economic growth accelerated to 0.7%, following Q3’s 0.4% expansion.

LatinFocus Consensus Forecast panelists project GDP to grow 2.9% in 2022, which is up 0.1 percentage points from last month’s forecast, and 2.2% in 2023.

Ecuador - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)0.1  -1.2  2.4  1.3  0.1  

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Ecuador GDP Chart

Ecuador GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bank of Ecuador and FocusEconomics calculations.

Ecuador Facts

Value Change Date
Exchange Rate25,0000.0 %Dec 31

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