The economy of Ecuador shrank 1 percent year-on-year in the last quarter of 2020, after contracting an upwardly revised 0.3 percent in the previous period. It was the sharpest contraction since the third quarter of 2016, as output shrank further in trade (-0.8 percent vs -0.7 percent in Q3); and education, social services & health (-6.2 percent vs -2.4 percent). Also, output contracted in transport (-0.3 percent vs 2.6 percent) and fishing (-4 percent vs 7.7 percent). Additionally, growth slowed in manufacturing (0.5 percent vs 2.1 percent); communications (1.5 percent vs 1.7 percent); financial services (2.4 percent vs 3.2 percent); and professional activities (1 percent vs 1.5 percent).

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. Ecuador GDP Annual Growth Rate - values, historical data and charts - was last updated on July of 2020. source: Banco Central del Ecuador

GDP Annual Growth Rate in Ecuador is expected to be -6.00 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 1.30 in 12 months time. In the long-term, the Ecuador GDP Annual Growth Rate is projected to trend around 1.00 percent in 2021 and 1.30 percent in 2022, according to our econometric models.

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Ecuador GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.00 -0.30 10.20 -3.40 2000 - 2019 percent Quarterly


Ecuador GDP Annual Growth Rate
The biggest sector of Ecuador´s economy is services. Retail and wholesale trade, hotels and restaurants, transport, communication and warehousing, financial intermediation, professional, technical, administrative and household services, education and health and government services and goods account for 57 percent of the GDP. Manufacturing, mining and quarrying create 23 percent of the wealth and construction and water and electricity distribution 11 percent. Agriculture, forestry and fishing account for the remaining 9 percent of GDP.