Markets Actual Q1 Q2 Q3 Q4 2023
Stock Market (points) 1199.54 1199 1185 1171 1158 1132
Currency 97.24 96.06 96.48 96.91 97.33 97.33

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.48 1.2 0.8 0.7 1 1
GDP Annual Growth Rate (%) 8.40 4.2 1.8 2 1.5 1.8
Unemployment Rate (%) 6.60 5.8 5.8 5.6 5.5 5.2
Inflation Rate (%) 1.94 2.4 2.5 2.5 2.5 2.5
Interest Rate (%) 7.44 9.5 9.5 9.5 9.5 10
Balance of Trade (USD Thousand) 105854.00 -420000 -720000 -820000 -1220000 -1320000
Current Account (USD Million) 139.99 -50 -50 -50 -50 -50
Current Account to GDP (% of GDP) 2.60 0.5 0.5 0.5 0.5 -0.2
Government Debt to GDP (% of GDP) 68.90 61 61 61 61 61
Government Budget (% of GDP) -8.90 -2.5 -2.5 -2.5 -2.5 -2.3
Business Confidence (points) 1506.30 1473 1473 1473 1473 1460
Consumer Confidence (points) 36.00 36 37.4 37.4 37.4 40.1
Corporate Tax Rate (%) 25.00 22 22 22 22 22
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.48 1.2 0.8 0.7 1 1
GDP Annual Growth Rate (%) 8.40 4.2 1.8 2 1.5 1.8
GDP (USD Billion) 98.81 102 102 102 106 106
GDP Constant Prices (USD THO) 17379049.00 17343828 17331654 17726630 17639735 17957250
Gross Fixed Capital Formation (USD THO) 3471942.00 3902849 3753325 3541381 3524021 3587454
GDP per capita (USD) 5317.68 4950 4950 4950 4950 5050
GDP per capita PPP (USD) 10329.20 10850 10850 10850 10850 11900
GDP From Agriculture (USD Thousand) 1345623.00 1439208 1388075 1372535 1365807 1390392
GDP From Construction (USD Thousand) 1092933.00 1318433 1283714 1114792 1109327 1129295
GDP From Manufacturing (USD Thousand) 2061309.00 2062452 2081672 2102535 2092229 2129889
GDP From Mining (USD Thousand) 1541857.00 1555072 1515135 1572694 1564985 1593155
GDP From Public Administration (USD Thousand) 1157557.00 1104686 1096830 1180708 1174920 1196069
GDP From Services (USD Thousand) 1109230.00 1078610 1068963 1131415 1125868 1146134
GDP From Transport (USD Thousand) 1279921.00 1222630 1203712 1305519 1299120 1322504
GDP From Utilities (USD Thousand) 485172.00 578516 571169 494875 492450 501314

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 6.60 5.8 5.8 5.6 5.5 5.2
Wages (USD/Month) 466.63 475 475 475 480 480
Population (Million) 17.56 17.74 17.74 17.74 17.98 17.98
Labor Force Participation Rate (%) 63.00 63.5 63.9 64.5 64.8 65
Minimum Wages (USD/Month) 400.00 415 415 415 415 415
Employment Rate (%) 40.00 40.5 41.2 41.7 41.5 43
Wages In Manufacturing (USD/Month) 450.00 470 470 470 470 470

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 1.94 2.4 2.5 2.5 2.5 2.5
Consumer Price Index CPI (points) 106.26 107 108 108 109 112
Producer Prices (points) 104.53 105 105 107 108 111
Inflation Rate Mom (%) 0.07 0.2 0.2 0.1 0.3 0.3
Food Inflation (%) 0.59 0.3 0.5 0.5 0.5 0.5
CPI Housing Utilities (points) 116.71 119 119 119 120 123
CPI Transportation (points) 116.21 116 117 117 117 117
Producer Prices Change (%) 2.74 2 3.5 2.5 3 3

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 7.44 9.5 9.5 9.5 9.5 10
Interbank Rate (%) 1.00 1.25 1.25 1.25 1.25 1.25
Deposit Interest Rate (%) 4.78 1.18 1.18 4.95 4.95 4.95

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (USD Thousand) 105854.00 -420000 -720000 -820000 -1220000 -1320000
Current Account (USD Million) 139.99 -50 -50 -50 -50 -50
Current Account to GDP (% of GDP) 2.60 0.5 0.5 0.5 0.5 -0.2
Exports (USD Thousand) 2608255.00 1780000 1780000 1780000 1780000 1780000
Imports (USD Thousand) 2502401.00 2200000 2500000 2600000 3000000 3100000
Remittances (USD Million) 1087.80 1250 1300 1310 1350 1400
Crude Oil Production (BBL/D/1K) 485.00 510 505 515 530 510
Foreign Direct Investment (USD Million) 115.11 275 250 200 475 475

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 68.90 61 61 61 61 61
Government Budget (% of GDP) -8.90 -2.5 -2.5 -2.5 -2.5 -2.3
Government Budget Value (USD Million) -214.32 960 360 660 -1340 -1640
Government Spending (USD THO) 2615638.00 2577843 2643438 2667951 2654873 2702660
Government Revenues (USD Million) 1622.74 1860 1860 1860 1860 1860
Fiscal Expenditure (USD Million) 1837.06 900 1500 1200 3200 3500
Military Expenditure (USD Million) 2244.00 2300 2300 2300 2300 2400

Taxes Actual Q1 Q2 Q3 Q4 2023
Corporate Tax Rate (%) 25.00 22 22 22 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 (%) 21.60 21.6 20.6 20.6 20.6 20.6
Social Security Rate For Companies (%) 12.15 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 2023
Business Confidence (points) 1506.30 1473 1473 1473 1473 1460
Leading Economic Index (%) 17.70 8.5 5.8 5.2 4.7 3
Manufacturing Production (%) 30.32 5 5 5 4.3 4.3
Steel Production (Thousand Tonnes) 50.00 53.2 53.6 54 54.2 55

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) 36.00 36 37.4 37.4 37.4 40.1
Consumer Spending (USD THO) 11160283.00 11199940 11077682 11383489 11327687 11531586
Consumer Credit (USD Million) 29894.84 24526 29692 29523 30493 30495


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Ecuador Forecast - was last updated on Thursday, January 27, 2022.