GDP (annual) in Ecuador

International Monetary Fund · Annual · Importance

18,891 (1999) ANUAL · USD mn · Annual · CSV

Period	USD mn
Jan 1999	18,891
Jan 1998	26,292
Jan 1997	25,847
Jan 1996	23,001
Jan 1995	21,980
Jan 1994	20,238
Jan 1993	16,783
Jan 1992	14,367
Jan 1991	13,139
Jan 1990	11,710

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually, covering the full year and subject to revision.

What it is

Gross Domestic Product (GDP) measures the value of all final goods and services produced in Ecuador over a period. Published by the Central Bank of Ecuador, it is the broadest gauge of the size and pace of the Ecuadorean economy.

How it's calculated

The Central Bank estimates it via the output, expenditure and income approaches, which must reconcile. It is released in levels and as year-on-year (YoY) and quarter-on-quarter (QoQ) real growth, in a dollarised economy.

Market implications

It is the cyclical reference for a dollarised economy that is highly exposed to oil. With no monetary policy of its own, Ecuador's growth hinges on crude prices and access to financing, so a weak reading strains the public finances and investor confidence.

Limitations

It is released with a lag and the first estimates are later revised, so the flash figure is not final. Heavy oil dependence adds volatility, and widespread informal employment means official GDP understates real activity.