GDP in Ecuador

Ecuador GDP | Economic News & Forecasts

Ecuador - GDP

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 - 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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