The economic architecture of Ecuador is substantial, anchored by a Gross Domestic Product (GDP) of approximately $118.84B
2023
. This places it as the 63rd largest economy out of 192 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $6.61K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $288.8B, offering a clearer picture of the population's domestic purchasing power. The economy is navigating a period of modest growth, recorded at 2.4%
2023
, accompanied by a stable price environment, with inflation (CPI) contained at 1.5%.
2024
On the global stage, Ecuador's trade and financial dynamics reveal a complex interplay of international and domestic factors. The country exhibits a balanced trade profile, with exports making up 29.1% of GDP and imports 28.8%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 0.34% of the economy
2023
. This performance positions the country 151st globally out of 187 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $5.45B annually
2023
. The government operates under fiscal constraints, with a limited tax base that generates revenue equivalent to only 13.0% of GDP.
2022
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $6,590
2023
, ranking the nation 98th out of 191. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The labor market remains stable, with an unemployment rate of 4.8%.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 52.5% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 26.0% of the population living below the national poverty line
2023
. The nation exhibits a moderate degree of income inequality, with a Gini index of 44.6.
2023
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 904.74 kg of oil equivalent
2022
, a metric that often correlates with industrial activity and living standards. The energy portfolio remains heavily dependent on conventional sources, with renewables contributing a modest 18.9%
2021
. This commitment places it 80th among 191 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 73.6K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

Balancing growth, inflation, and employment remains the core challenge for economic stewardship.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

The transition to a sustainable energy framework is paramount for mitigating climate risk and securing future energy needs.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.