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Goldman Sachs

May 21, 2026

Ecuador Economy Q1 Performance

Market ReportMacro Economic IndicatorsEnergyOther

Ecuador's economy grew by 1.2% qoq in Q1 2026, supported by robust non-oil sector expansion despite a slight monthly dip in March activity.

Key Takeaways

  • 1.The Ecuadorian economy showed a robust performance in Q1 2026, with real economic activity expanding by 1.2% qoq sa.
  • 2.Real GDP increased 1.6% yoy sa in March, primarily driven by a 1.9% expansion in non-oil activity.
  • 3.Goldman Sachs maintains a 2.5% growth forecast for 2026, noting balanced risks from higher oil prices vs. potential power outages.

Table of Contents

  • KEY NUMBERS (March)
  • DETAILS
  • Disclosure Appendix
  • Reg AC
  • Disclosures
  • Global product; distributing entities
  • General disclosures

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