Ecuador GDP Growth Rate

The Gross Domestic Product (GDP) in Ecuador expanded 1.20 percent in the second quarter of 2013 over the previous quarter. GDP Growth Rate in Ecuador is reported by the Banco Central del Ecuador. From 2000 until 2013, Ecuador GDP Growth Rate averaged 1.1 Percent reaching an all time high of 3.4 Percent in December of 2003 and a record low of -1.9 Percent in June of 2003. 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. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.60 1.80 3.40 -1.90 2.25 | 2013/12 2000 - 2013 Percent Quarterly

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Ecuador GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-08-06 12:00 AM Ecuador
GDP Growth Rate QoQ
Q1 2013 0.2% 1.2% (R) 0.9%
2013-11-01 10:00 PM Ecuador
GDP Growth Rate QoQ
Q2 2013 1.2 1% (R) 0.63%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 84.50 2012-12-31 77.70 84.50 1.00 85.07 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 4.90 2013-09-30 3.80 10.20 -2.30 4.11 2013-12-31 Percent [+]
GDP Constant Prices 16862885.00 2013-08-15 16593067.00 16862885.00 9134587.00 17081072.03 2013-12-31 USD THO [+]
GDP per capita 3546.93 2012-12-31 3432.48 3546.93 1572.43 3556.28 2013-12-31 USD [+]
GDP per capita PPP 8392.57 2012-12-31 8121.76 8392.57 6073.43 8415.23 2013-12-31 USD [+]
GDP Growth Rate 1.60 2013-09-30 1.80 3.40 -1.90 2.25 2013-12-31 Percent [+]
Gross Fixed Capital Formation 4452338.00 2013-08-15 4436089.00 4452338.00 1324528.00 4526305.94 2013-09-30 USD THO [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Ecuador Crude Oil Production at 540.00 Thousands Barrels per Day  
Crude Oil Production in Ecuador increased to 540 Thousands Barrels per Day in October of 2013 from 535 Thousands Barrels per Day in September of 2013. Crude Oil Production in Ecuador is reported by the U.S. Energy Information Administration.
Ecuador Exports at 2150067.00 USD Thousand  
Exports in Ecuador increased to 2150067 USD Thousand in February of 2014 from 2033186 USD Thousand in January of 2014. Exports in Ecuador is reported by the Banco Central del Ecuador.
Ecuador Current Account at -157.73 USD Million  
Ecuador recorded a Current Account deficit of 157.73 USD Million in the third quarter of 2013. Current Account in Ecuador is reported by the Banco Central del Ecuador.
Ecuador Balance of Trade at 177965.00 USD Thousand  
Ecuador recorded a trade surplus of 177965 USD Thousand in February of 2014. Balance of Trade in Ecuador is reported by the Banco Central del Ecuador.
Ecuador Changes in Inventories at 91156.00 USD THO  
Changes in Inventories in Ecuador decreased to 91156 USD THO in the third quarter of 2013 from 110881 USD THO in the second quarter of 2013. Changes in Inventories in Ecuador is reported by the Banco Central Del Ecuador.
Ecuador Capital Flows at 693.07 USD Million  
Capital Flows in Ecuador increased to 693.07 USD Million in the third quarter of 2013 from 137.09 USD Million in the second quarter of 2013. Capital Flows in Ecuador is reported by the Banco Central Del Ecuador.
Ecuador Consumer Spending at 10774859.00 USD THO  
Consumer Spending in Ecuador increased to 10774859 USD THO in the third quarter of 2013 from 10647126 USD THO in the second quarter of 2013. Consumer Spending in Ecuador is reported by the Banco Central Del Ecuador.
Ecuador Consumer Price Index (CPI) at 147.69 Index Points  
Consumer Price Index (CPI) in Ecuador increased to 147.69 Index Points in March of 2014 from 146.67 Index Points in February of 2014. Consumer Price Index (CPI) in Ecuador is reported by the Banco Central Del Ecuador.
Ecuador GDP Constant Prices at 16862885.00 USD THO  
GDP Constant Prices in Ecuador increased to 16862885 USD THO in the third quarter of 2013 from 16593067 USD THO in the second quarter of 2013. GDP Constant Prices in Ecuador is reported by the Banco Central Del Ecuador.
Ecuador Government Budget Value at -1707.54 USD Million  
Ecuador recorded a government budget deficit of 1707.54 USD Million in December of 2013. Government Budget Value in Ecuador is reported by the Banco Central Del Ecuador.
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