The government of President Daniel Noboa announced on March 25 that Ecuador’s economy grew by 3.7% in 2025, surpassing projections from international organizations such as the International Monetary Fund, World Bank, and Economic Commission for Latin America and the Caribbean, which had forecasted a growth rate of 3.2% for the year.
Officials say this higher-than-expected growth was driven by increases in exports and investment. Exports rose by 6.4%, while gross fixed capital formation—a measure of investment—grew by 5.6%. The government said these results show that its policies have focused on sectors that stimulate and energize the national economy.
A significant part of this performance came from record levels in non-oil exports such as shrimp, cocoa, bananas, and canned fish products. The non-oil gross value added increased by 4.6%. Sixteen industries experienced positive changes during the year; electricity and water supply grew by 13%, fishing and aquaculture rose by 10%, financial and insurance activities increased by 9.8%, agriculture gained by 8.6%, and food manufacturing went up by 8.5%.
Government officials also reported continued positive trends into early this year. In January of 2026, Ecuador’s Monthly Economic Activity Indicator (IMAEc) showed an annual increase of 2.2%. This was supported mainly by manufacturing (up by 7.2%), oil and mining (up by 6.1%), services (up by 2.9%), commerce (up by 2.7%), and construction (up by 1%). The non-oil component of IMAEc saw a yearly variation of plus-2.6%.
The government said these results build confidence in Ecuador’s economic direction: “These results generate confidence in the country and demonstrate that the National Government prioritizes the well-being of citizens, investment, and national production to increase sources of employment.”
