Ecuador GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Ecuador's GDP changed from approximately $16B 116M in 1980 to $121B 592M in 2024, showing an overall 654.5% sharply increased during the period.
The lowest GDP was recorded in 1989 at $11B 531M, and the highest in 2024 at $121B 592M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.7%.
For comparison, the average annual growth rate of Peru was 6.2%, and that of Colombia was 4.9%.

Overview of Ecuador's GDP (1980–2024)

The Gross Domestic Product (GDP) of Ecuador recorded a 654.5% sharply increased from 1980 to 2024.
The average GDP during this period was $49B 761M, and the median was $27B 54M.
GDP fluctuated within a range of $110B 61M, with a standard deviation of $39B 32M.
The average annual change was $2B 757M.


Ecuador GDP from 1980 to 2024

The total market value of goods and services produced annually in Ecuador.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1989, $11B 531M
    • Highest GDP: 2024, $121B 592M
    • Most Recent GDP: 2024, $121B 592M

    Notable Annual GDP Changes

    • 2021: Significant increase in GDP
    • 2020: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Ecuador's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $107B 596M → $95B 865M
    • Outcome: sharply declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $49B 849M → $60B 95M
    • Outcome: sharply increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $17B 531M → $23B 127M
    • Outcome: sharply increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $25B 847M → $26B 292M
    • Outcome: increased

    Key Economic Indicators of Ecuador (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 16B 116M
    $ 2,006.94
    $ 3,187.22
    $ 25B 594M
    4.9 %
    -3.981 %
    17.95 %
    0 %
    8M 29K people
    1981
    $ 16B 501M
    $ 1,997.60
    $ 3,523.70
    $ 29B 108M
    3.9 %
    -6.048 %
    15.41 %
    0 %
    8M 260K people
    1982
    $ 16B 474M
    $ 1,939.22
    $ 3,681.84
    $ 31B 277M
    1.2 %
    -7.175 %
    17.25 %
    0 %
    8M 495K people
    1983
    $ 14B 478M
    $ 1,657.98
    $ 3,617.73
    $ 31B 592M
    -2.8 %
    -0.794 %
    14.73 %
    0 %
    8M 733K people
    1984
    $ 15B 408M
    $ 1,717.54
    $ 3,801.84
    $ 34B 107M
    4.2 %
    -1.772 %
    14.05 %
    0 %
    8M 971K people
    1985
    $ 18B 20M
    $ 1,956.38
    $ 3,988.17
    $ 36B 734M
    4.4 %
    0.422 %
    17.98 %
    0 %
    9M 211K people
    1986
    $ 13B 222M
    $ 1,399.04
    $ 4,087.79
    $ 38B 633M
    3.094 %
    -4.402 %
    14.63 %
    0 %
    9M 451K people
    1987
    $ 12B 355M
    $ 1,274.85
    $ 3,841.24
    $ 37B 226M
    -5.972 %
    -9.608 %
    10.95 %
    0 %
    9M 691K people
    1988
    $ 11B 749M
    $ 1,181.57
    $ 4,282.09
    $ 42B 580M
    10.486 %
    -5.788 %
    14.39 %
    0 %
    9M 944K people
    1989
    $ 11B 531M
    $ 1,131.67
    $ 4,355.12
    $ 44B 375M
    0.285 %
    -6.201 %
    13.37 %
    0 %
    10M 189K people
    1990
    $ 11B 710M
    $ 1,122.67
    $ 4,546.50
    $ 47B 421M
    3.008 %
    -3.074 %
    12.74 %
    0 %
    10M 430K people
    1991
    $ 13B 139M
    $ 1,231.28
    $ 4,828.95
    $ 51B 531M
    5.113 %
    -5.388 %
    14.50 %
    0 %
    10M 671K people
    1992
    $ 14B 367M
    $ 1,316.54
    $ 5,004.41
    $ 54B 611M
    3.614 %
    -0.849 %
    17.70 %
    0 %
    10M 912K people
    1993
    $ 16B 783M
    $ 1,505.19
    $ 5,114.18
    $ 57B 23M
    2 %
    -5.058 %
    16.11 %
    0 %
    11M 150K people
    1994
    $ 20B 238M
    $ 1,778.39
    $ 5,335.81
    $ 60B 721M
    4.258 %
    -4.439 %
    15.73 %
    0 %
    11M 380K people
    1995
    $ 21B 980M
    $ 1,895.19
    $ 5,465.66
    $ 63B 390M
    2.253 %
    -4.55 %
    13.47 %
    1.707 %
    11M 598K people
    1996
    $ 23B 1M
    $ 1,949.51
    $ 5,565.86
    $ 65B 669M
    1.732 %
    -0.238 %
    16.54 %
    0.255 %
    11M 798K people
    1997
    $ 25B 847M
    $ 2,156.32
    $ 5,814.13
    $ 69B 692M
    4.328 %
    -1.767 %
    16.24 %
    1.098 %
    11M 987K people
    1998
    $ 26B 292M
    $ 2,160.75
    $ 5,981.07
    $ 72B 778M
    3.267 %
    -7.982 %
    14.01 %
    -1.372 %
    12M 168K people
    1999
    $ 18B 891M
    $ 1,530
    $ 5,694.44
    $ 70B 309M
    -4.739 %
    4.86 %
    20.86 %
    2.311 %
    12M 347K people