LatinNews Daily - 06 January 2021

In brief: Ecuador records GDP decline in Q3

* Ecuador’s central bank (BCE) has revealed that the country’s GDP contracted by 8.8% year-on-year in the third quarter of 2020, due to the continued impact of the coronavirus (Covid-19) pandemic and the measures imposed to try and contain it. This was Ecuador’s fifth consecutive quarter of negative growth, and follows a 12.4% year-on-year contraction in the second quarter of 2020. This third quarter contraction was attributed primarily to a 6.1% year-on-year drop in oil production – a key sector for the country, that was also hit hard by reduced global oil prices in 2020. The BCE’s preliminary estimates suggest that Ecuador’s GDP contracted by a total of 8.9% last year, while the bank currently forecasts 3.1% growth in 2021.

End of preview - This article contains approximately 123 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.