Ecuador GDP Per Capita
Economy records slowest increase since Q1 2021 in Q1
GDP growth moderated to 0.7% year on year in the first quarter, from 4.3% in the fourth quarter of last year. Q1’s reading marked the worst reading since Q1 2021.
The downturn was broad-based, with growth of private consumption, public spending, fixed investment and exports all weakening. Private consumption increased 1.6% in the first quarter, which was below the fourth quarter’s 3.8% expansion. Public consumption growth softened to 0.5% in Q1 (Q4 2022: +7.6% yoy). Meanwhile, fixed investment contracted 5.2% in Q1, marking the worst reading since Q1 2021 (Q4 2022: +2.5% yoy).
On the external front, exports of goods and services growth fell to 0.4% in Q1, marking the worst result since Q1 2022 (Q4 2022: +6.2% yoy). In addition, imports of goods and services deteriorated, contracting 1.3% in Q1 (Q4 2022: +3.0% yoy).
On a seasonally-adjusted quarter-on-quarter basis, GDP declined 3.4% in Q1, contrasting the previous period’s 2.3% growth. Q1’s reading marked the worst reading since Q2 2020.
Ecuador GDP Per Capita Chart
This chart displays GDP per capita (USD) for Ecuador from 2013 to 2022.
Ecuador GDP Per Capita Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
GDP per capita (USD) | 6,319 | 6,261 | 5,670 | 5,979 | 6,390 |