Industry in Ecuador

Ecuador Industry | Economic News & Forecasts

Ecuador - Industry

An acceleration in economic activity throughout the third quarter suggests the economy sped up from Q2. While oil production was higher on average in Q3 compared to the previous quarter, the output of the petroleum sector in the first nine months was below the same period of last year, as the country’s state-owned oil company Petroamazonas EP slashed production. Reflecting the trend in oil production, export growth picked up in July and August before moderating in September. Meanwhile, a strong inflow of remittances has boosted household incomes and supported solid growth in private consumption. In other news, the government recently presented the 2019 budget to Congress. It aims to gradually reduce the fiscal deficit to 3.2%, mainly thanks to higher oil revenues and by cutting public sector wages.

Ecuador - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)6.2  3.7  -0.4  -2.5  2.1  

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Ecuador Industry Chart

Ecuador Industry

Ecuador Facts

Exchange Rate25,0000.0 %Nov 29
Stock Market1,3950.17 %Nov 29

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