Ecuador Economic Statistics and Indicators
24, Oct 2016, EDT. Welcome to the Ecuador economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Ecuador › Change country
National or Regional Currency: US Dollar, US$
Year of data: 2015 › Change year
Number of Indicators Listed: 34
Full Dataset: From Year 1980 to 2021
Date of Last Update: 30th June 2016
Population: 15,654,411 (July 2014 est.)
Area: total: 283,561 sq km ; land: 276,841 sq km ; water: 6,720 sq km ; note: includes Galapagos Islands
Natural Resources: petroleum, fish, timber, hydropower
Capital: name: Quito ; geographic coordinates: 0 13 S, 78 30 W ; time difference: UTC-5 (same time as Washington, DC, during Standard Time)
Ecuador is substantially dependent on its petroleum resources, which have accounted for more than half of the country's export earnings and approximately two-fifths of public sector revenues in recent years. In 1999/2000, Ecuador's economy suffered from a banking crisis, with GDP contracting by 5.3% and poverty increasing significantly. In March 2000, the Congress approved a series of structural reforms that also provided for the adoption of the US dollar as legal tender. Dollarization stabilized the economy, and positive growth returned in the years that followed, helped by high oil prices, remittances, and increased non-traditional exports. From 2002-06 the economy grew an average of 4.3% per year, the highest five-year average in 25 years. After moderate growth in 2007, the economy reached a growth rate of 6.4% in 2008, buoyed by high global petroleum prices and increased public sector investment. President Rafael CORREA Delgado, who took office in January 2007, defaulted in December 2008 on Ecuador's sovereign debt, which, with a total face value of approximately US$3.2 billion, represented about 30% of Ecuador's public external debt. In May 2009, Ecuador bought back 91% of its "defaulted" bonds via an international reverse auction. Economic policies under the CORREA administration - for example, an announcement in late 2009 of its intention to terminate 13 bilateral investment treaties, including one with the United States - have generated economic uncertainty and discouraged private investment. China has become Ecuador's largest foreign lender since Quito defaulted in 2008, allowing the government to maintain a high rate of social spending; Ecuador contracted with the Chinese government for more than $9.9 billion in forward oil sales, project financing, and budget support loans as of December 2013. Foreign investment levels in Ecuador continue to be the lowest in the region as a result of an unstable regulatory environment, weak rule of law, and the crowding-out effect of public investments. In 2013, oil output marginally reversed a declining trend and production is expected to increase slightly in 2014, although prices will likely remain lower than in previous years. Faced with a 2013 trade deficit of $1.1 billion, Ecuador erected technical barriers to trade in December 2013, causing tensions with its largest trading partners. Ecuador also decriminalized intellectual property rights violations in February 2014.
More on the Ecuador Economy
More on the Ecuador Export, Import and Trade
GDP (Constant Prices, National Currency) for Ecuador in year 2015 is US$ 69.78 Billion.
GDP (Current Prices, National Currency) for Ecuador in year 2015 is US$ 98.828 Billion.
GDP (Current Prices, US Dollars) for Ecuador in year 2015 is US$ 98.828 Billion.
GDP Deflator for Ecuador in year 2015 is 141.629 (Index, Base Year as per country's accounts = 100).
GDP Per Capita (Current Prices, US Dollars) for Ecuador in year 2015 is US$ 6,070.95 .
GDP (PPP), US Dollars for Ecuador in year 2015 is US$ 183.358 Billion.
GDP Per Capita (PPP), US Dollars for Ecuador in year 2015 is US$ 11,263.59 .
Investment (% of GDP) for Ecuador in year 2015 is 24.087 %.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Ecuador in year 2015 is 103.223 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for Ecuador in year 2015 is 104.05 (Index, Base Year 2000 = 100).
Population for Ecuador in year 2015 is 16.279 Million .
General government revenue (National Currency) for Ecuador in year 2015 is US$ 33.586 Billions.
General government total expenditure (National Currency) for Ecuador in year 2015 is US$ 38.812 Billions.
Total Government Net Lending/ Borrowing (National Currency) for Ecuador in year 2015 is US$ -5.226 Billions.
General Government Structural Balance (National Currency) for Ecuador in year 2015 is US$ -4.836 Billion.
Fiscal Year Gross Domestic Product, Current Prices for Ecuador in year 2015 is US$ 98.828 Billions.
Current Account Balance (US Dollars) for Ecuador in year 2015 is US$ -2.819 Billion.
|Number of Internet Users for Ecuador|
|Internet Penetration Rate for Ecuador|
|Number of Facebook Accounts for Ecuador|
|Facebook Penetration Rate for Ecuador|
|Corruption Perceptions Index Rank and Score for Ecuador|
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International