Gross Domestic Product for Ecuador
MKTGDPECA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124,676,074,700.00
Year-over-Year Change
42.11%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Ecuador measures the total value of goods and services produced within the country. It is a key indicator of economic growth and a widely-used metric for policymakers and analysts to assess the health of Ecuador's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The GDP of Ecuador represents the monetary value of all final goods and services produced domestically during a given period. It is a comprehensive statistic that serves as a broad measure of a country's overall economic activity and production.
Methodology
The GDP data for Ecuador is collected and calculated by the World Bank using nationally reported figures.
Historical Context
Economists and policymakers closely monitor Ecuador's GDP to inform decisions around fiscal, monetary, and trade policies.
Key Facts
- Ecuador's GDP reached $98.8 billion in 2021.
- GDP per capita in Ecuador was $5,579 in 2021.
- The services sector accounts for the largest share of Ecuador's GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Ecuador measures the total monetary value of all final goods and services produced within the country during a given period.
Q: Why is this trend relevant for users or analysts?
A: Ecuador's GDP is a key indicator of the country's overall economic performance and growth, making it highly relevant for policymakers, investors, and analysts assessing the health and potential of the Ecuadorian economy.
Q: How is this data collected or calculated?
A: The GDP data for Ecuador is collected and calculated by the World Bank using nationally reported figures.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor Ecuador's GDP to inform decisions around fiscal, monetary, and trade policies aimed at promoting economic growth and stability.
Q: Are there update delays or limitations?
A: The GDP data for Ecuador is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Ecuador (MKTGDPECA646NWDB), retrieved from FRED.