The economy of Ecuador shrank 0.1 percent year-on-year in the third quarter of 2019, after expanding 0.6 percent in the previous period. It was the first contraction since the third quarter of 2016, as output shrank further in petroleum refining (-29.1 percent vs -26.7 percent in Q2); trade (-1.3 percent vs -1 percent); and public administration (-5.5 percent vs -4.6 percent). Also, education, social services & health contracted 0.5 percent, after growing 2.7 percent in the second quarter of the year. Additionally, growth slowed in agriculture & shrimp fishing (12.8 percent vs 14.6 percent); professional activities (2.8 percent vs 3.7 percent); utilities (1.5 percent vs 6.8 percent); restaurants & hotels (2.3 percent vs 3 percent); and financial services (2.8 percent vs 3.7 percent). On a quarterly basis, the economy grew 0.4 percent, rebounding from a 0.9 percent contraction in the prior period.
GDP Annual Growth Rate in Ecuador averaged 3.64 percent from 2000 until 2019, reaching an all time high of 10.20 percent in the second quarter of 2004 and a record low of -3.40 percent in the first quarter of 2016. This page provides the latest reported value for - Ecuador GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Banco Central del Ecuador
GDP Annual Growth Rate in Ecuador is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Ecuador to stand at 0.30 in 12 months time. In the long-term, the Ecuador GDP Annual Growth Rate is projected to trend around 0.60 percent in 2021 and 1.30 percent in 2022, according to our econometric models.