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Indicators of economy in Ecuador

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Ecuador reached 5.600 US dollars per inhabitant, or 98.81 bn US Dollar in the whole country. Ecuador is therefore currently ranked 65 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Ecuador is in the list of the world's richest countries in place 111.

Inflation in Ecuador was in 2021 at around 0.13%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 48.1% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Ecuador

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were not insignificant in Ecuador 2020. Overall, gross domestic product in 2020 fell from 108.11 billion US Dollar auf 98.81 billion US Dollar. With a drop of 8.6 percent, the economy in Ecuador suffered more significant losses than other countries.. The tourism sector alone slumped by around 69 percent. The unemployment rate rose from 3.8 to 6.1 percent. The inflation rate has fallen from 0.3 percent previously to -0.3 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Ecuador
Total
Ecuador
per capita
EU
Total
EU
per capita
GDP98.81 bn USD5,600.39 USD15,291.93 tn USD29,710.69 USD
Gross national product97.65 bn USD5,534.51 USD15,330.84 tn USD29,786.28 USD


Development of the Gross domestic product in billion US Dollar 1960 - 2020



Im- and Exports 2020

 Ecuador
Total
Ecuador
per capita
EU
Total
EU
per capita
Imports19.86 bn USD1,125.93 USD7,340.01 bn USD14,260.90 USD
Exports22.26 bn USD1,261.74 USD7,939.04 bn USD15,424.75 USD


Development of imports and exports in billion US dollars 1976 - 2020

Exports
Imports



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