Ecuador: Economy
|
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 |
|
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. |
|
Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2019): 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) | $192,163,176,715 (2020) |
| GDP Growth Rate (annual %) | -7.75% (2020) |
| GDP Per Capita, PPP (current international) | $10,892 (2020) |
GDP Country Rank 69/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | -0.339% (2020) |
| External debt stocks, total (DOD, current US$) | $56,190,547,676 (2020) |
| Total tax rate (% of commercial profits) | 34.4% (2019) |
| Real Interest Rate (5 year average %) | -0.949% (2008) |
| Manufacturing, value added (% of GDP) | 15.57% (2020) |
| Current Account Balance (BoP, current US$) | $2,564,536,773 (2020) |
Labor and Employment [1]
| Labor Force, Total | 8,019,239 (2020) |
| Employment in Agriculture (% of total employment) | 29.386% (2020) |
| Employment in Industry (% of total employment) | 18.153% (2020) |
| Employment in Services (% of total employment) | 52.461% (2020) |
| Unemployment Rate | 6.23% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $20,506,058,000 (2020) |
| Exports of goods and services (current US$) | $22,263,995,000 (2020) |
| Total Merchandise Trade (% of GDP) | 38.647% (2020) |
| FDI, net inflows (BoP, current US$) | $974,318,496 (2019) |
| Commercial Service Exports (current US$) | $1,682,179,090 (2020) |
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.