Industry in Ecuador

Ecuador Industry | Economic News & Forecasts

Ecuador - Industry

Available data for the second quarter suggests economic growth remains tepid after the economy expanded at the weakest pace since Q4 2016 in the first quarter. The government’s drive to achieve greater fiscal consolidation has slowed the pace of recovery. On the upside, economic activity accelerated for the fourth consecutive month in May, rising at the swiftest pace in over a year amid still-strong private sector credit growth. Oil production picked up markedly from the previous month, although it fell well short of the level seen in the same month of last year, owing to the OPEC oil cutback agreement. The upturn in oil prices helped swing the current account from deficit in the previous two quarters into surplus in Q1. On the downside, the external sector continued to drag on the economy’s performance in May as imports outpaced exports. On 31 July, the Central Bank revised down its GDP growth estimate for 2017 due to weaker figures on domestic demand and the contribution of the external sector.

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 %Aug 15
Stock Market1,3400.17 %Aug 15

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