Industry in Ecuador
Ecuador - Industry
GDP contracted for the first time in three years, albeit mildly, in the third quarter of 2019 on the back of shriveling domestic demand. Fixed investment shrank at a quicker rate in Q3 compared to the previous quarter as did public spending amid the government’s belt-tightening efforts. Meanwhile, export growth lost traction in Q3 due to a slowdown in oil production. In other news, after concluding its review of the country’s economic performance on 19 December, the IMF approved a new disbursement of nearly USD 500 million as part of the country’s reform program under the Extended Fund Facility arrangement. The IMF cited the country’s commitment to fiscal prudence and the revised tax reform, which was approved on 9 December and aims to raise USD 600 million this year (previously: USD 700 million) largely though increased corporate income taxes.Ecuador - Industry Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | - | - | - | - | - |
Ecuador Industry Chart
Ecuador Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 25,000 | 0.0 % | Dec 31 |
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Economic News
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Ecuador: Consumer prices fall for second month straight in January
February 6, 2020
Consumer prices rose 0.2% over the previous month in January, following December’s flat reading.
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Ecuador: Economic activity contracts in November
January 14, 2020
In November, economic activity fell 0.3% over the same month of 2018, according to the monthly economic activity indicator (IDEAC) released by the Central Bank of Ecuador.
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Ecuador: Consumer prices dip in annual terms in December
January 7, 2020
Consumer prices were stable over the previous month in December, following their 0.7% drop in November.
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Ecuador: Economy contracts for the first time in three years in Q3
January 2, 2020
The economy contracted for the first time since Q3 2016 in the third quarter as GDP fell 0.1% on an annual basis, contrasting the revised 0.6% expansion in the second quarter (previously reported: +0.3% year-on-year).
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Ecuador: Economic activity falls to over three-year low in October
December 17, 2019
In October, economic activity fell 0.6% over the same month of the previous year, according to the monthly economic activity indicator (IDEAC) released by the Central Bank of Ecuador.
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