The Central Bank of Ecuador published May 2026 results for its Monthly Economic Activity Indicator, showing 1.6% year-on-year growth and indicating that the country’s economic expansion continued. Growth was driven mainly by services and manufacturing, which offset contractions in agriculture, livestock, forestry and fishing, as well as in mining and oil. Services grew 2.4% from a year earlier and contributed 1.1 percentage points to the overall result, supported by higher electricity generation, expanded lending by the financial system, and stronger transport, professional services, accommodation and food activities. Manufacturing rose 5.4% and added 0.7 percentage points, reflecting higher exports of processed shrimp, greater cement production and increased output of petroleum derivatives. By contrast, agriculture, livestock, forestry and fishing fell 3.8%, while mining and oil contracted 1.4% because of lower domestic oil production linked to operational factors and the natural decline of mature fields, along with reduced copper exports. By component, the non-oil IMAEc rose 1.8% year on year and remained the main driver of growth, while the oil component fell 2.1%, extending its contractionary trend. The central bank described the indicator as an early gauge of national economic activity ahead of quarterly gross domestic product data.
Central Bank of Ecuador2026-07-20
Central Bank of Ecuador reports 1.6% annual economic activity growth in May 2026, led by services and manufacturing
The Central Bank of Ecuador reported that its Monthly Economic Activity Indicator rose 1.6% year on year in May 2026. Services and manufacturing drove the increase, while agriculture and the mining and oil segment contracted. The non-oil component grew 1.8%, while the oil component fell 2.1%.