Key Market Indicators
Ecuador's energy consumption is projected to hit 0.85 Exajoules by 2028, up from 0.79 Exajoules in 2023. This marks a steady annual growth rate of approximately 1.1%. Historical data indicates that since 1970, Ecuador's energy demand has increased by an average of 1.3% per year. In the global ranking for 2023, Ecuador placed 62nd, just behind Bulgaria, which registered 0.79 Exajoules. Leading the pack were the United States, India, and Russia, occupying the second, third, and fourth spots, respectively. On the supply side, Ecuador's energy provision is anticipated to reach 17.2 million tonnes of oil equivalent by 2028, rising from 16.13 million tonnes in 2023. This reflects an annual growth rate of 1.1%. Since 1976, the country's energy supply has grown at an average rate of 2% per year. In the 2023 rankings for energy supply, Ecuador stood at 17th, with Portugal narrowly ahead at 16.13 million tonnes of oil equivalent. The top spots were held by France, Saudi Arabia, and the United Kingdom, in that order.
