Ecuador: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Ecuador's petroleum resources account for more than half of the country's earnings from exports. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): United States, China, and Panama |
| Top Industries Source: CIA World Factbook | Petroleum; Food Processing; Textiles; Wood Products |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $230,810,870,088 (2022) |
| GDP Growth Rate (annual %) | 2.948% (2022) |
| GDP Per Capita, PPP (current international) | $12,822 (2022) |
GDP Country Rank 69/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 3.466% (2022) |
| External debt stocks, total (DOD, current US$) | $58,259,441,213 (2021) |
| Total tax rate (% of commercial profits) | 34.4% (2019) |
| Real Interest Rate (5 year average %) | -0.949% (2008) |
| Manufacturing, value added (% of GDP) | 16.349% (2022) |
| Current Account Balance (BoP, current US$) | $2,711,400,602 (2022) |
Labor and Employment [1]
| Labor Force, Total | 8,878,712 (2022) |
| Employment in Agriculture (% of total employment) | 32.178% (2021) |
| Employment in Industry (% of total employment) | 16.834% (2021) |
| Employment in Services (% of total employment) | 50.988% (2021) |
| Unemployment Rate | 3.955% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $32,810,251,000 (2022) |
| Exports of goods and services (current US$) | $33,562,095,000 (2022) |
| Total Merchandise Trade (% of GDP) | 57.112% (2022) |
| FDI, net inflows (BoP, current US$) | $829,041,804 (2022) |
| Commercial Service Exports (current US$) | $2,756,859,346 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Ecuador’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.