Gross Domestic Product in U.S. Dollars for Ecuador
ECUNGDPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125,598,314,550.30
Year-over-Year Change
42.85%
Date Range
1/1/2011 - 1/1/2024
Summary
The Gross Domestic Product in U.S. Dollars for Ecuador measures the total value of all goods and services produced within Ecuador, expressed in U.S. dollar terms. This metric is a key indicator of the size and performance of Ecuador's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Gross Domestic Product (GDP) is the standard measure of a country's economic activity and production. The GDP in U.S. Dollars for Ecuador reflects the total market value of all final goods and services produced within the country, converted to U.S. dollars. This data series is widely used by economists, policymakers, and analysts to assess Ecuador's economic growth, competitiveness, and development.
Methodology
The data is collected and calculated by Ecuador's National Institute of Statistics and Census based on surveys, administrative records, and other official sources.
Historical Context
GDP in U.S. Dollars is a crucial metric for evaluating Ecuador's economic performance, trade relationships, and integration into the global market.
Key Facts
- Ecuador's GDP in U.S. Dollars reached $98.9 billion in 2021.
- The U.S. is Ecuador's largest trading partner, accounting for over 40% of its exports.
- Ecuador's GDP per capita in U.S. Dollars was $5,610 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product in U.S. Dollars for Ecuador measures the total value of all goods and services produced within the country, expressed in U.S. dollar terms.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the size and performance of Ecuador's economy, and is widely used by economists, policymakers, and analysts to assess the country's economic growth, competitiveness, and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Ecuador's National Institute of Statistics and Census based on surveys, administrative records, and other official sources.
Q: How is this trend used in economic policy?
A: GDP in U.S. Dollars is a crucial metric for evaluating Ecuador's economic performance, trade relationships, and integration into the global market, and is used by policymakers and analysts to inform economic and trade policies.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting or updates, and the accuracy of the data may be influenced by factors such as exchange rate fluctuations and changes in data collection methodologies.
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Citation
U.S. Federal Reserve, Gross Domestic Product in U.S. Dollars for Ecuador (ECUNGDPD), retrieved from FRED.