Ecuador: economy

How fast is Ecuador's economy growing?

Ecuador's GDP grew 2.1% in the second quarter of 2026 compared with the same quarter of 2025, according to the Banco Central del Ecuador. Compared with the first quarter of 2026, GDP fell 1.3%, mainly because investment fell 4.0% and household consumption 0.9%.

Fifteen of twenty industries grew year on year, led by financial and insurance services (+12.5%). Household consumption rose 3.5% and fixed investment 10.0% on the year. The bank's monthly activity index rose 7.9% year on year in July 2026, helped by a recovery in oil production. The bank's updated forecast puts growth at 2.7% for 2026, up from 2.5% in April.

Official sources: Banco Central del Ecuador · updated forecast

What are Ecuador's main exports?

Shrimp was Ecuador's largest export from January to July 2026, at USD 5,765.7 million, followed by oil at USD 5,724.1 million, mining products at USD 3,179.5 million and bananas and plantains at USD 2,739.9 million, according to the Banco Central del Ecuador. Total exports were USD 23,289 million, 9.3% more than a year earlier.

Oil exports rose 27.3% and mining exports 43.5%, while cocoa exports fell 54.6% to USD 1,195.7 million. Imports grew faster, by 17.5% to USD 20,445.9 million, led by fuels and lubricants. The trade surplus for the seven months was USD 2,843.1 million. In the second quarter the current account showed a surplus of USD 1,425 million.

Official sources: Banco Central del Ecuador · current account

What is the economic outlook for Ecuador in 2026?

The Banco Central del Ecuador expects the economy to grow 2.7% in 2026, with household consumption up 3.3%, fixed investment up 5.8% and exports up 3.8%, according to its updated macroeconomic programme. Growth is projected to average 2.5% a year in 2027–2030.

The bank forecasts average inflation of 2.1% in 2026, a current account surplus of USD 4,587 million, growth of 10.9% in credit to the private sector and international reserves of about USD 11,239 million at the end of 2026. The update includes scenarios for the possible effects of an El Niño weather event. The bank revises these forecasts during the year as new data arrive.

Official sources: updated macroeconomic programme

How much money do migrants send home to Ecuador?

Ecuador received USD 2,041.3 million in remittances in the second quarter of 2026, 2.0% more than a year earlier, and USD 3,898.0 million in the first half of the year, according to the Banco Central del Ecuador. The United States sent 78.5% of the second-quarter total and Spain 13.7%.

In the first quarter the bank counted USD 1,856.7 million, 7.7% more than a year earlier, and said in its first-quarter release that 63.1% arrived through private banks. Pichincha, Guayas, Azuay, Cañar and Chimborazo were the main provinces receiving money from the United States. The central bank compiles the figures from individual transfers reported by banks and money-transfer firms, and publishes them each quarter with the balance of payments.

Official sources: Banco Central del Ecuador · first-quarter release

What are interest rates in Ecuador?

The maximum effective interest rate for consumer loans in Ecuador is 16.77% a year in October 2026, according to the Banco Central del Ecuador's interest rate tables. Corporate productive loans are capped at 7.89%, business loans at 10.36% and loans to small and medium firms at 9.95%. Retail microcredit has the highest cap, 28.23%.

Because Ecuador uses the US dollar, it has no central bank policy rate. Instead, a regulatory board sets maximum lending rates for each loan segment, and banks charge at or below them; the caps are set out in the October 2026 rates notice.

Official sources: interest rate tables · October 2026 rates notice

How large are Ecuador's international reserves?

Ecuador's international reserves were USD 9,795 million on 31 December 2025, up USD 2,895 million during the year, according to the Banco Central del Ecuador. They were USD 6,900 million at the end of 2024.

In a dollarised economy, reserves back the deposits that banks and public bodies hold at the central bank. The bank says the end-2025 level covered all the deposits of public, private and cooperative financial institutions held with it and 57% of the deposits of the non-financial public sector. The increase in 2025 came mainly from the private sector and the bank's own operations.

Official sources: Banco Central del Ecuador

How fast is Ecuador's economy growing?

3.7%: that is real GDP growth in Ecuador for 2025, according to the World Bank. Its high point since 2005 was 2021, at 9.4%; its low point was 2020, at -9.2%. Latin America & Caribbean median: 2.7%; Ecuador is 12th highest of 31. Of 180 countries with 2025 data, 79th highest.

What is Ecuador's GDP per person?

In 2025, GDP per person in Ecuador was $7,125, according to the World Bank. It is the top of the series, which starts in 2005. Across Latin America & Caribbean the middle value was $10,989, and Ecuador placed 22nd highest of 31. World rank, highest first: 92nd of 180.

What is Ecuador's GDP per person adjusted for prices?

The World Bank puts GDP per person at purchasing power parity in Ecuador at $16,757 in international dollars in 2025. No year since 2005 has been higher. It is 22nd highest of 30 in Latin America & Caribbean, where the median is $22,756 in international dollars. Worldwide: 100th of 179.

What share of Ecuador's economy is exports?

The latest figure from the World Bank, for 2025, is 31.4% of GDP. Its high point since 2005 was 2008, at 40.3% of GDP; its low point was 2016, at 20.5% of GDP. Latin America & Caribbean median: 30.0% of GDP; Ecuador is 8th highest of 17. Of 133 countries with 2025 data, 77th highest.

Does Ecuador earn more abroad than it spends?

5.9% of GDP: that is the current account balance in Ecuador for 2025, according to the IMF. No year since 2005 has been higher. Latin America & Caribbean median: -1.2% of GDP; Ecuador is 1st highest of 27. World rank, highest first: 19th of 132.

What is FDI in Ecuador?

The IMF puts net inflows of foreign direct investment in Ecuador at 1.0% of GDP in 2025. The peak was 1.7% of GDP in 2008 and the low 0.2% of GDP in 2010. Across Latin America & Caribbean the middle value was 2.5% of GDP, and Ecuador placed 25th highest of 31. Worldwide: 126th of 179.