Ecuador Macroeconomic Outlook Report

Ecuador Macroeconomic Outlook Report

Summary

Mining, manufacturing, and utilities contributed 23.4% to the gross value added (GVA) in 2023, followed by wholesale, retail, and hotels (12.8%) and financial intermediation, real estate, and business activities (11.8%). In nominal terms, the three sectors are forecast to grow by 3.6%, 4.1%, and 5.3%, respectively, in 2024.

Quito is the major region in Ecuador, which contributed 24.4% to the country’s GDP and comprised 15.4% of the country’s population in 2023, according to GlobalData’s city database.

The Ecuador ECUINDEX exhibited a downward trend over the past year. As of January 9, 2024, the index stood at 1,172.9, compared to 1,265.9 on January 9, 2023.

Scope

Ecuador’s Ministry of Transport and Public Works intends to increase private participation in the state road network from 17% to 40% by May 2025, with tenders prepared for 12 projects, including four high-priority ones, involving a total investment exceeding $1 billion.

Reasons to Buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.