Ecuador | Economic Forecasts | 2017-2020 Outlook

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.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.50 0.7 0.8 0.7 0.9 1.3 percent [+]
Unemployment Rate 5.20 6.6 6.8 5.7 5.8 6.2 percent [+]
Inflation Rate 0.96 1.8 1.4 1.2 1.5 2.5 percent [+]
Interest Rate 8.14 9.05 8.35 8.1 7.9 10 percent [+]
Balance of Trade 283225.00 -4141 -78181 -97112 -96768 -92184 USD Thousand [+]
Government Debt to GDP 33.10 32.76 31.08 29.4 29.41 29.1 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Stock Market 1183.20 1110 1100 1070 1080 898 points [+]
Currency 98.87 107 109 112 113 115 [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.50 0.7 0.8 0.7 0.9 1.3 percent [+]
GDP Annual Growth Rate -1.60 -0.8 0.5 1.4 1.3 0.6 percent [+]
GDP 100.18 106 103 102 103 108 USD Billion [+]
GDP Constant Prices 17646890.00 18060544 18179774 18305140 18407019 19729447 USD THO [+]
Gross Fixed Capital Formation 4100158.00 3936244 3948106 3955270 3980314 3889859 USD THO [+]
GDP per capita 5366.55 5390 5441 5390 5433 5500 USD [+]
GDP per capita PPP 10776.58 10750 10750 10750 10888 11590 USD [+]
Gdp From Agriculture 1325556.00 1329453 1337857 1334341 1332092 1332552 USD Thousand [+]
Gdp From Construction 1555111.00 1513640 1491987 1476806 1464465 1390602 USD Thousand [+]
Gdp From Manufacturing 2061025.00 2109033 2120419 2136575 2142632 2176875 USD Thousand [+]
Gdp From Mining 1717800.00 1694665 1690828 1692992 1695277 1697857 USD Thousand [+]
Gdp From Public Administration 1055272.00 1068812 1071446 1077955 1082410 1158906 USD Thousand [+]
Gdp From Services 1169458.00 1174970 1171770 1175646 1173648 1175171 USD Thousand [+]
Gdp From Transport 1195437.00 1210418 1216752 1223071 1229082 1289371 USD Thousand [+]
Gdp From Utilities 492934.00 511042 519261 526846 534607 612962 USD Thousand [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 5.20 6.6 6.8 5.7 5.8 6.2 percent [+]
Wages 478.00 480 489 498 501 600 USD/Month [+]
Population 16.53 16.65 16.71 16.78 16.84 17.53 Million [+]
Labor Force Participation Rate 67.30 67.39 68.69 67.41 68.59 67.63 percent [+]
Employment Rate 94.36 94.4 94.51 94.45 94.65 94.63 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.96 1.8 1.4 1.2 1.5 2.5 percent [+]
Consumer Price Index CPI 105.66 106 106 106 106 108 Index Points [+]
Producer Prices 103.04 103 103 103 103 104 Index Points [+]
Producer Prices Change -0.35 -0.89 -0.81 -0.77 -0.6 -0.8 percent [+]
Inflation Rate Mom 0.14 0.11 0.11 0.11 0.11 0.11 percent [+]
Food Inflation 1.28 1.38 1.4 1.4 1.4 1.4 percent [+]
Cpi Transportation 105.83 106 106 106 106 105 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 8.14 9.05 8.35 8.1 7.9 10 percent [+]
Interbank Rate 2.10 2.1 2.1 2.1 2.1 2.12 percent [+]
Money Supply M1 22217.14 22991 23503 24017 24530 30062 USD Million [+]
Money Supply M2 46001.08 48094 49464 50705 51823 59175 USD Million [+]
Foreign Exchange Reserves 3809.62 3557 3743 3819 3820 3811 USD Million [+]
Loans to Private Sector 13687.80 14128 14358 14527 14650 14973 USD Million [+]
Deposit Interest Rate 4.80 4.6 4.51 4.43 4.56 4.91 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 283225.00 -4141 -78181 -97112 -96768 -92184 USD Thousand [+]
Exports 1580918.00 1582574 1569861 1563418 1560442 1558208 USD Thousand [+]
Imports 1297693.00 1382805 1373608 1371654 1371345 1371321 USD Thousand [+]
Current Account 264.27 506 352 389 267 370 USD Million [+]
Current Account to GDP -0.60 0.09 0.09 0.08 0.03 -0.29 percent [+]
Capital Flows -399.99 -2.21 -29.08 -35.5 -13.91 -21.8 USD Million [+]
Remittances 671.35 678 672 677 659 675 USD Million [+]
Gold Reserves 11.79 11.79 11.79 11.79 11.79 11.79 Tonnes [+]
Crude Oil Production 531.00 531 532 532 532 532 BBL/D/1K [+]
Foreign Direct Investment 132.37 121 158 203 155 157 USD Million [+]
Terrorism Index 0.79 0.77 0.8 0.83 0.84 0.87 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 33.10 32.76 31.08 29.4 29.41 29.1 percent [+]
Government Budget -4.00 -2.51 -2.53 -2.55 -2.28 -1.18 percent of GDP [+]
Government Budget Value -1611.83 -514 -489 -484 -483 -483 USD Million [+]
Government Spending 2470619.00 2465315 2471073 2468001 2468997 2468832 USD THO [+]
Government Revenues 2207.28 1594 1569 1566 1567 1568 USD Million [+]
Fiscal Expenditure 3819.10 2402 2391 2392 2391 2391 USD Million [+]
Military Expenditure 2591.70 2787 2703 2618 2563 2241 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 1170.90 1171 1170 1169 1168 1160 [+]
Industrial Production -3.73 -6.59 -6.61 -6.61 -6.61 -6.61 percent [+]
Changes in Inventories 241591.00 196037 182453 148282 165602 168224 USD THO [+]
Leading Economic Index 97.30 99.66 100 101 101 101 Index Points [+]
Ease of Doing Business 114.00 119 119 118 120 129 [+]
Corruption Index 31.00 31 31 30 30 31 Points [+]
Corruption Rank 120.00 115 119 122 123 125 [+]
Competitiveness Index 3.96 4.03 4.03 4.03 3.93 3.9 Points [+]
Competitiveness Rank 91.00 78 78 78 91 90 [+]
Steel Production 45.00 46.74 46.14 46.31 46.31 46.3 Thousand Tonnes [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 36.20 37.03 35.69 36.96 36.1 36.81 [+]
Consumer Spending 10903251.00 11056380 11116778 11185216 11254835 12020852 USD THO [+]
Private Sector Credit 20584.49 21095 21339 21507 21623 21876 USD Million [+]
Consumer Credit 16612.40 16826 16942 17037 17111 17372 USD Million [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 22.00 22.95 22.95 22.95 22.97 22.71 percent [+]
Personal Income Tax Rate 35.00 35 35 35 35 35 percent [+]
Sales Tax Rate 14.00 13 13.5 14 14 14 percent [+]
Social Security Rate 21.60 21.6 21.6 21.6 21.6 21.6 percent [+]
Social Security Rate For Companies 12.15 12.15 12.15 12.15 12.15 12.15 percent [+]
Social Security Rate For Employees 9.45 9.45 9.45 9.45 9.45 9.45 percent [+]