Mountains in Ecuador

Ecuador GDP

Ecuador GDP

Economic Growth in Ecuador

The economy of Ecuador recorded an average real GDP growth rate of 1.1% in the decade to 2022, below the 1.3% average for Latin America. In 2022, real GDP growth was 2.9%. For more GDP information, visit our dedicated page.

Ecuador GDP Chart

This chart displays Economic Growth (GDP, annual variation in %) for Ecuador from 2013 to 2022.

Ecuador GDP Data

2018 2019 2020 2021 2022
Economic Growth (GDP, ann. var. %) 1.3 0.0 -7.8 4.2 2.9
GDP (USD bn) 107.6 108.1 99.3 106.2 115.0
Economic Growth (Nominal GDP, ann. var. %) 3.1 0.5 -8.2 6.9 8.4

GDP growth improves in Q2

GDP growth accelerated to 3.3% year on year in the second quarter, from 1.0% in the first quarter. Household spending improved to 4.3% year on year in the second quarter, which marked the best reading since Q2 2022 (Q1: +1.6% yoy). Government spending improved to a 6.4% expansion in Q2 (Q1: +1.0% yoy). Meanwhile, fixed investment bounced back, growing 3.8% in Q2, contrasting the 5.2% decrease in the prior quarter. On the external front, exports of goods and services contracted 0.2% in Q2, marking the worst reading since Q4 2021 (Q1: 0.0% yoy). Conversely, imports of goods and services rebounded, growing 6.2% in Q2 (Q1: -1.0% yoy), marking the best reading since Q1 2022. On a seasonally adjusted quarter-on-quarter basis, GDP rebounded, increasing 2.5% in Q2, contrasting the previous quarter's 3.1% contraction. Q2's reading marked the best result since Q3 2020.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ecuadorian GDP projections for the next ten years from a panel of 20 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Ecuadorian GDP.

To Download one of our sample reports to visualize what a Consensus Forecast is and see our Ecuadorian GDP projections.

Want to get access to the full dataset of Ecuadorian GDP forecasts? Send an email to

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest