Markets Actual Q1 Q2 Q3 Q4 2022
Stock Market (points) 1380.76 1363 1345 1327 1309 1274
Currency 90.34 96.06 96.48 96.91 97.33 97.33

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 4.51 0.7 0.5 0.3 0.6 0.6
GDP Annual Growth Rate (%) -8.80 1.5 11 9 6.5 2.3
Unemployment Rate (%) 6.60 6.4 6.3 6.2 6.1 6.1
Inflation Rate (%) -1.04 -0.1 0.3 0.5 0.7 0.8
Interest Rate (%) 9.02 8 7.8 8 8 7
Balance of Trade (USD Thousand) 12174.00 -420000 180000 110000 -420000 -420000
Current Account (USD Million) 1213.63 -150 -150 -150 -50 -50
Current Account to GDP (%) -0.10 -1.5 -1.5 -1.5 1.6 -1.2
Government Debt to GDP (%) 49.40 65 65 65 65 61
Government Budget (% of GDP) -3.00 -3.1 -3.1 -3.1 -3.1 -2.5
Business Confidence (points) 1479.90 1440 1420 1420 1460 1460
Consumer Confidence (points) 28.85 38 38 38 38 38.6
Corporate Tax Rate (%) 25.00 22 25 25 22 22
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 4.51 0.7 0.5 0.3 0.6 0.6
GDP Annual Growth Rate (%) -8.80 1.5 11 9 6.5 2.3
GDP (USD Billion) 107.44 102 102 102 102 106
GDP Constant Prices (USD THO) 16487573.00 16736846 17801044 17526695 18790839 17824741
Gross Fixed Capital Formation (USD THO) 3575950.00 3826753 3955250 3732581 4417449 4075492
GDP per capita (USD) 5097.07 5000 5000 5000 5000 5150
GDP per capita PPP (USD) 11375.33 11200 11200 11200 11200 11300
GDP From Agriculture (USD Thousand) 1354397.00 1301124 1442547 1522394 1500843 1385697
GDP From Construction (USD Thousand) 1286947.00 1356758 1391496 1423869 1587768 1444947
GDP From Manufacturing (USD Thousand) 1923432.00 1969239 2143296 2134436 2167534 2097240
GDP From Mining (USD Thousand) 1551144.00 1480034 1644019 1274521 1682243 1576236
GDP From Public Administration (USD Thousand) 1084225.00 1040057 1095964 1128223 1279426 1107660
GDP From Services (USD Thousand) 1094824.00 1054914 1112088 1193479 1129299 1123483
GDP From Transport (USD Thousand) 1131966.00 1235481 1254739 1038415 1341221 1315787
GDP From Utilities (USD Thousand) 566259.00 537860 588771 618785 516727 572821

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 6.60 6.4 6.3 6.2 6.1 6.1
Wages (USD/Month) 466.63 466 475 475 475 480
Population (Million) 17.27 17.5 17.5 17.5 17.74 17.98
Labor Force Participation Rate (%) 60.10 61.8 62.1 62.3 62.8 62.8
Minimum Wages (USD/Month) 394.00 405 405 405 415 415
Employment Rate (%) 39.30 42 44 46 47.4 47.4
Wages In Manufacturing (USD/Month) 450.00 470 470 470 470 470

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) -1.04 -0.1 0.3 0.5 0.7 0.8
Consumer Price Index CPI (points) 104.35 105 106 105 105 106
Producer Prices (points) 102.93 104 103 104 106 106
Inflation Rate Mom (%) 0.12 0.3 0.2 0.1 0.4 0.4
Food Inflation (%) -0.74 0.4 0.6 0.6 0.8 0.9
CPI Housing Utilities (points) 115.99 106 117 117 117 118
CPI Transportation (points) 105.95 107 107 106 107 107
Producer Prices Change (%) -1.50 -0.5 -0.3 0.1 0.5 1

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 9.02 8 7.8 8 8 7
Interbank Rate (%) 1.00 1.25 1.25 1.25 1.25 1.25
Deposit Interest Rate (%) 4.40 2.88 3.28 3.08 1.18 1.18

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Thousand) 12174.00 -420000 180000 110000 -420000 -420000
Current Account (USD Million) 1213.63 -150 -150 -150 -50 -50
Current Account to GDP (%) -0.10 -1.5 -1.5 -1.5 1.6 -1.2
Exports (USD Thousand) 1822450.00 1680000 1710000 1750000 1780000 1780000
Imports (USD Thousand) 1810276.00 1500000 1600000 1700000 1850000 1850000
Remittances (USD Million) 677.44 920 920 920 980 980
Crude Oil Production (BBL/D/1K) 508.29 710 710 710 750 700

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 49.40 65 65 65 65 61
Government Budget (% of GDP) -3.00 -3.1 -3.1 -3.1 -3.1 -2.5
Government Budget Value (USD Million) -2215.02 -540 -1440 -1440 -540 -540
Government Spending (USD THO) 2518979.00 2506322 2678740 2742367 2954119 2669233
Government Revenues (USD Million) 1322.27 1760 1760 1760 1860 1860
Fiscal Expenditure (USD Million) 3537.29 3200 3200 3200 3000 3000
Military Expenditure (USD Million) 2554.00 2550 2550 2550 2300 2300

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 25.00 22 25 25 22 22
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 12.00 12 12 12 12 12
Social Security Rate (%) 20.60 21.6 20.6 20.6 20.6 20.6
Social Security Rate For Companies (%) 11.15 12.15 11.15 11.15 11.15 11.15
Social Security Rate For Employees (%) 9.45 9.45 9.45 9.45 9.45 9.45

Business Actual Q1 Q2 Q3 Q4 2022
Business Confidence (points) 1479.90 1440 1420 1420 1460 1460
Leading Economic Index (%) -5.30 15.5 10.5 4.5 1.5 1.3
Manufacturing Production (%) 20.66 3.5 5 4 3 4.3

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Confidence (points) 28.85 38 38 38 38 38.6
Consumer Spending (USD THO) 10183479.00 10611680 11256035 11045356 11743755 11301439
Consumer Credit (USD Million) 28078.60 25601 28190 30322 24526 27265


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.