Report published September 30, 2026
Ecuador: High Remittances and Robust Exports Supported Current Account in the Second Quarter
Goldman Sachs · September 30, 2026
Ecuador posted a US$1,425mn current account surplus in 2Q2026, topping Goldman Sachs' US$0.5bn forecast on the back of record remittances and strong exports. Combined with IMF inflows, this helped lift gross international reserves to a two-decade high of US$12.3bn.
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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Ecuador's current account recorded a US$1,425mn surplus in 2Q2026 (4.2% of GDP), substantially beating Goldman Sachs' US$0.5bn forecast despite narrowing from US$2.6bn a year earlier.
- 2.Remittances reached a record high of US$2,041mn (6.1% of quarterly GDP), while goods trade delivered a US$828mn surplus on US$10.3bn in exports.
- 3.Domestic liquidity improved alongside IMF inflows and robust external balances, lifting gross international reserves to a two-decade high of US$12.3bn by June 2026.
Table of Contents
- Balance of Payments Flows
Report data
Balance of Payments Flows
| Metric | Estimate | Context |
|---|---|---|
| Current Account Balance | 1425 USD mn | Surplus narrowed from US$2.6bn in 2Q2025 but exceeded GS expectations of US$0.5bn |
| Goods Trade Surplus | 828 USD mn | Declined from US$1.9bn in 2Q25 as imports increased by US$1.8bn while exports increased by US$0.7bn |
| Remittances | 2041 USD mn | Record-high remittances tracked at about 6.1% of Q2 GDP and 5.9% on a 4-quarter rolling basis |
| Gross International Reserves | 12.3 USD bn | Rose to a two-decade high, increasing by US$1.8bn from the previous quarter |
| FDI Inflows into Ecuador | 238 USD mn | Down from US$478mn in 1Q26 but higher than US$115mn in 2Q25; tracked at 1.3% of GDP over last four quarters |
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