Ecuador GDP Growth Rate
The Gross Domestic Product (GDP) in Ecuador expanded 1.20 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Ecuador averaged 1.17 Percent from 2000 until 2013, reaching an all time high of 3.40 Percent in the fourth quarter of 2003 and a record low of -1.90 Percent in the second quarter of 2003. GDP Growth Rate in Ecuador is reported by the Banco Central del Ecuador.
||2000 - 2013
Ecuador is the seventh largest economy in Latin America. From 2000 to 2012, the country has been expanding at an average rate of 1.15 percent on a quarter over quarter basis, mostly due to a rise in exports. Ecuador´s economy is highly dependent on oil exports. Shipments of oil account for 58 percent of total exports and for almost two fifths of government revenue. In order to reach its full growth potential, the country needs to reduce its dependence on oil revenue; increase the tax base; achieve political stability and reduce the levels of poverty and inequality. This page provides - Ecuador GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.