Year-over-year growth was driven mainly by financial and insurance activities, trade, and manufacturing. Household consumption and investment also contributed positively. In July, the IMAEc recorded year-over-year growth of 7.9%, influenced mainly by the recovery of oil activity.
The Central Bank of Ecuador (BCE) reports that the Ecuadorian economy recorded year-over-year growth of 2.1% in the second quarter of 2026, compared to the same period of 2025.
Fifteen of the twenty industries recorded year-over-year growth. Financial and insurance activities grew 12.5% and made the largest contribution to the result, at approximately 0.6 percentage points. Also notable were manufacturing of non-food products (+6.4%) and food products (+3.4%).
From the expenditure approach, household consumption rose 3.5% and Gross Fixed Capital Formation (GFCF) grew 10.0%, contributing approximately 2.2 and 2.0 percentage points, respectively.
On a quarterly basis, GDP registered a change of -1.3% compared to the first quarter of 2026, associated mainly with a decline in investment (-4.0%) and household consumption (-0.9%). By contrast, exports grew 0.7%. Regarding the production side, even with the quarterly contraction, more than half of the industries grew. Compared to the first quarter, 11 of the 20 industries recorded growth.
The Quarterly National Accounts, prepared by the BCE, provides timely tracking of the country’s economic activity through the analysis of key macroeconomic aggregates from both the production and expenditure approaches. The second quarter 2026 results incorporate a revision of the estimates for the previous quarter, in line with institutional statistical policy and calendar.
The IMAEc grew 7.9% in July
The Monthly Indicator of Economic Activity of Ecuador (IMAEc) recorded year-over-year growth of 7.9% in July 2026, mainly due to the recovery of oil activity. The oil and mining sector grew 102.0% and contributed 4.1 percentage points to the result.
Non-oil activity grew 3.0%, while manufacturing rose 10.4% and services 2.5%. Between January and July 2026, economic activity accumulated growth of 2.9%.
The IMAEc is a monthly indicator for tracking economic activity and maintains methodological consistency with the Quarterly National Accounts. Its results make it possible to anticipate trends in economic activity and complement the BCE’s quarterly information. The figures presented correspond to seasonally adjusted series.
For more information, please visit the following links:
- Quarterly National Accounts for the second quarter of 2026:
- IMAEc through July 2026:
Strategic Communications Sub-Directorate – Directorate of Economic Studies and Statistics25
