Markets Actual Q4 Q1 Q2 Q3 2021
Stock Market (points) 1366.80 1349 1331 1313 1296 1261
Currency 91.18 96.06 96.48 96.91 97.33 97.33

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -9.97 1.5 0.7 0.5 0.3 0.6
GDP Annual Growth Rate (%) -12.40 -9.5 1.5 15 9 6.5
Unemployment Rate (%) 6.60 6.5 6.4 6.3 6.2 6.1
Inflation Rate (%) -1.60 -0.4 -0.1 0.3 0.5 0.7
Interest Rate (%) 9.02 8 8 7.8 8 8
Balance of Trade (USD Thousand) 331674.00 170000 180000 110000 50000 -70000
Current Account (USD Million) 254.95 -150 -150 -150 -150 -50
Current Account to GDP (%) -0.10 -2.1 -1.5 -1.5 -1.5 1.6
Government Debt to GDP (%) 49.40 57 59 59 59 59
Government Budget (% of GDP) -3.00 -3.7 -3.1 -3.1 -3.1 -3.1
Business Confidence (points) 1463.20 1460 1440 1420 1420 1460
Consumer Confidence (points) 37.10 37 38 38 38 38.6
Corporate Tax Rate (%) 25.00 22 25 25 25 22
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -9.97 1.5 0.7 0.5 0.3 0.6
GDP Annual Growth Rate (%) -12.40 -9.5 1.5 15 9 6.5
GDP (USD Billion) 107.44 98.5 102 102 102 102
GDP Constant Prices (USD THO) 15789815.00 18549693 16199835 17785894 20151505 18790839
Gross Fixed Capital Formation (USD THO) 3362686.00 4360759 3703970 3952186 4477846 4417449
GDP per capita (USD) 5097.07 4850 5000 5000 5000 5000
GDP per capita PPP (USD) 11375.33 10870 11200 11200 11200 11200
GDP From Agriculture (USD Thousand) 1371526.00 1481582 1259376 1435109 1625985 1500843
GDP From Construction (USD Thousand) 1282765.00 1567392 1313226 1391521 1576601 1587768
GDP From Manufacturing (USD Thousand) 1922915.00 2139718 1906055 2143248 2428310 2167534
GDP From Mining (USD Thousand) 1148217.00 1660654 1432546 1645080 1863883 1682243
GDP From Public Administration (USD Thousand) 1016417.00 1263007 1006686 1094699 1240299 1279426
GDP From Services (USD Thousand) 1075206.00 1114807 1021066 1112496 1260463 1129299
GDP From Transport (USD Thousand) 935509.00 1324008 1195840 1254725 1421609 1341221
GDP From Utilities (USD Thousand) 557464.00 510096 520602 589006 667346 516727

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 6.60 6.5 6.4 6.3 6.2 6.1
Wages (USD/Month) 466.63 466 466 475 475 475
Population (Million) 17.27 17.5 17.5 17.5 17.5 17.74
Labor Force Participation Rate (%) 60.10 61 61.8 62.1 62.3 62.8
Minimum Wages (USD/Month) 394.00 405 405 405 405 415
Employment Rate (%) 39.30 40 42 44 46 47.4
Wages In Manufacturing (USD/Month) 450.00 470 470 470 470 470

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) -1.60 -0.4 -0.1 0.3 0.5 0.7
Consumer Price Index CPI (points) 104.27 105 105 106 105 106
Producer Prices (points) 101.86 104 103 104 99.83 106
Inflation Rate Mom (%) -0.19 0.3 0.3 0.2 0.1 0.4
Food Inflation (%) -1.67 0.2 0.4 0.6 0.6 0.8
CPI Housing Utilities (points) 116.33 116 106 117 117 116
CPI Transportation (points) 105.96 108 107 107 106 109
Producer Prices Change (%) -1.60 -0.8 -0.5 -0.3 0.1 0.5

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 9.02 8 8 7.8 8 8
Interbank Rate (%) 2.10 1.25 1.25 1.25 1.25 1.25
Deposit Interest Rate (%) 4.40 2.88 3.28 3.08 3.28 1.18

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Thousand) 331674.00 170000 180000 110000 50000 -70000
Current Account (USD Million) 254.95 -150 -150 -150 -150 -50
Current Account to GDP (%) -0.10 -2.1 -1.5 -1.5 -1.5 1.6
Exports (USD Thousand) 1757621.00 1650000 1680000 1710000 1750000 1780000
Imports (USD Thousand) 1425947.00 1480000 1500000 1600000 1700000 1850000
Remittances (USD Million) 677.44 920 920 920 920 980
Crude Oil Production (BBL/D/1K) 521.00 720 710 710 710 750

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 49.40 57 59 59 59 59
Government Budget (% of GDP) -3.00 -3.7 -3.1 -3.1 -3.1 -3.1
Government Budget Value (USD Million) -119.87 -540 -1440 -1440 -1440 -540
Government Spending (USD THO) 2470601.00 2916208 2425905 2678740 3035026 2954119
Government Revenues (USD Million) 1408.78 1760 1760 1760 1760 1860
Fiscal Expenditure (USD Million) 1528.65 3200 3200 3200 3200 3000
Military Expenditure (USD Million) 2554.00 2550 2550 2550 2550 2300

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 25.00 22 25 25 25 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 Q4 Q1 Q2 Q3 2021
Business Confidence (points) 1463.20 1460 1440 1420 1420 1460
Leading Economic Index (%) -5.30 -0.5 15.5 10.5 4.5 1.5
Manufacturing Production (%) 20.66 -1.7 3.5 5 4 3

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 37.10 37 38 38 38 38.6
Consumer Spending (USD THO) 9950771.00 11593045 10271198 11251570 12748085 11743755
Consumer Credit (USD Million) 27379.50 24212 24780 28190 31415 24526


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.