Ecuador | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Ecuador including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Ecuador economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.71 0.7 0.8 0.7 0.9 1.3 percent [+]
Unemployment Rate 5.20 6.6 6.8 5.7 5.8 6.2 percent [+]
Inflation Rate 1.10 1.8 1.4 1.2 1.5 2.5 percent [+]
Interest Rate 7.37 9.05 8.35 8.1 7.9 10 percent [+]
Balance of Trade 171301.00 -22381 -70422 -90139 -93267 -91685 USD Thousand [+]
Government Debt to GDP 39.60 37.05 39.79 42.52 41.98 39.55 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Stock Market 1162.96 1140 1130 1090 1100 920 points [+]
Currency 96.04 107 109 112 113 115 [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.71 0.7 0.8 0.7 0.9 1.3 percent [+]
GDP Annual Growth Rate 1.50 -0.8 0.5 1.4 1.3 0.6 percent [+]
GDP 100.18 106 103 102 103 108 USD Billion [+]
GDP Constant Prices 17646890.00 18060544 18179774 18305140 18407019 19729447 USD THO [+]
Gross Fixed Capital Formation 4100158.00 3936244 3948106 3955270 3980314 3889859 USD THO [+]
GDP per capita 5366.55 5390 5441 5390 5433 5500 USD [+]
GDP per capita PPP 10776.58 10750 10750 10750 10888 11590 USD [+]
Gdp From Agriculture 1325556.00 1329453 1337857 1334341 1332092 1332552 USD Thousand [+]
Gdp From Construction 1555111.00 1513640 1491987 1476806 1464465 1390602 USD Thousand [+]
Gdp From Manufacturing 2061025.00 2109033 2120419 2136575 2142632 2176875 USD Thousand [+]
Gdp From Mining 1717800.00 1694665 1690828 1692992 1695277 1697857 USD Thousand [+]
Gdp From Public Administration 1055272.00 1068812 1071446 1077955 1082410 1158906 USD Thousand [+]
Gdp From Services 1169458.00 1174970 1171770 1175646 1173648 1175171 USD Thousand [+]
Gdp From Transport 1195437.00 1210418 1216752 1223071 1229082 1289371 USD Thousand [+]
Gdp From Utilities 492934.00 511042 519261 526846 534607 612962 USD Thousand [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 5.20 6.6 6.8 5.7 5.8 6.2 percent [+]
Wages 478.00 480 489 498 501 600 USD/Month [+]
Population 16.53 16.65 16.71 16.78 16.84 17.53 Million [+]
Labor Force Participation Rate 68.90 67.66 69 67.61 68.91 67.85 percent [+]
Employment Rate 94.36 94.4 94.51 94.45 94.65 94.63 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.10 1.8 1.4 1.2 1.5 2.5 percent [+]
Consumer Price Index CPI 106.17 106 106 106 106 108 Index Points [+]
Producer Prices 101.41 101 101 101 103 99.62 Index Points [+]
Inflation Rate Mom 0.05 0.09 0.12 0.12 0.12 0.12 percent [+]
Producer Prices Change -1.34 -0.24 -0.45 -0.69 -0.6 -0.64 percent [+]
Cpi Housing Utilities 113.26 113 114 115 116 124 Index Points [+]
Food Inflation 0.95 0.48 0.08 0.04 0.04 0.04 percent [+]
Cpi Transportation 106.23 106 106 107 107 107 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 7.37 9.05 8.35 8.1 7.9 10 percent [+]
Interbank Rate 2.10 2.1 2.1 2.1 2.1 2.11 percent [+]
Money Supply M1 22843.68 23295 23796 24332 24871 30685 USD Million [+]
Money Supply M2 47224.59 48263 49667 50971 52168 60473 USD Million [+]
Foreign Exchange Reserves 2790.04 2812 3287 3515 3512 3484 USD Million [+]
Loans to Private Sector 13452.00 13570 13553 13566 13570 13576 USD Million [+]
Deposit Interest Rate 4.80 4.6 4.51 4.43 4.56 4.91 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 171301.00 -22381 -70422 -90139 -93267 -91685 USD Thousand [+]
Exports 1607957.00 1595637 1586127 1577900 1573473 1569975 USD Thousand [+]
Imports 1436656.00 1498545 1479212 1476297 1476061 1476120 USD Thousand [+]
Current Account 264.27 528 349 400 244 369 USD Million [+]
Current Account to GDP 1.50 -0.07 0.39 0.87 0.48 -0.24 percent [+]
Capital Flows -180.00 -85.72 -44.95 -47.95 -29.42 -27.85 USD Million [+]
Remittances 625.67 661 656 664 638 655 USD Million [+]
Gold Reserves 11.79 11.79 11.79 11.79 11.79 11.79 Tonnes [+]
Crude Oil Production 528.00 528 528 528 528 528 BBL/D/1K [+]
Foreign Direct Investment 301.39 155 160 199 165 164 USD Million [+]
Terrorism Index 0.79 0.77 0.8 0.83 0.84 0.87 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 39.60 37.05 39.79 42.52 41.98 39.55 percent [+]
Government Budget -4.00 -2.51 -2.53 -2.55 -2.28 -1.18 percent of GDP [+]
Government Budget Value -1611.83 -514 -489 -484 -483 -483 USD Million [+]
Government Spending 2470619.00 2465315 2471073 2468001 2468997 2468832 USD THO [+]
Government Revenues 2207.28 1594 1569 1566 1567 1568 USD Million [+]
Fiscal Expenditure 3819.10 2402 2391 2392 2391 2391 USD Million [+]
Military Expenditure 2130.30 2002 1867 1732 1642 786 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 1183.10 1183 1186 1188 1189 1205 [+]
Industrial Production -3.73 -6.59 -6.61 -6.61 -6.61 -6.61 percent [+]
Changes in Inventories 241591.00 196037 182453 148282 165602 168224 USD THO [+]
Leading Economic Index 105.60 104 103 102 102 102 Index Points [+]
Ease of Doing Business 114.00 119 119 118 120 129 [+]
Corruption Index 31.00 31 31 30 30 31 Points [+]
Corruption Rank 120.00 115 119 122 123 125 [+]
Competitiveness Index 3.96 4.03 4.03 4.03 3.93 3.9 Points [+]
Competitiveness Rank 91.00 78 78 78 91 90 [+]
Steel Production 45.00 46.21 46.06 46.07 46.41 46.35 Thousand Tonnes [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 37.80 38.26 37.35 37.37 37.08 37.12 [+]
Consumer Spending 10903300.00 10934110 10925748 10932797 10942000 11001879 USD THO [+]
Private Sector Credit 21165.05 21603 22136 22514 22787 23461 USD Million [+]
Consumer Credit 16809.60 17094 17334 17521 17674 18242 USD Million [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 22.00 22.95 22.95 22.95 22.97 22.71 percent [+]
Personal Income Tax Rate 35.00 35 35 35 35 35 percent [+]
Sales Tax Rate 14.00 13 13.5 14 14 14 percent [+]
Social Security Rate 21.60 21.6 21.6 21.6 21.6 21.6 percent [+]
Social Security Rate For Companies 12.15 12.15 12.15 12.15 12.15 12.15 percent [+]
Social Security Rate For Employees 9.45 9.45 9.45 9.45 9.45 9.45 percent [+]