In 2023, Ecuador's GDP composition reveals a diverse economic structure. The services sector leads, contributing 32.95%. The mining, manufacturing, and utilities sector follows with 26.01%, highlighting industrial significance. The wholesale, retail trade, restaurants, and hotels sectors make up 13.23%, indicating a buoyant consumer market. Construction and agriculture sectors contribute 11.26% and 9.6%, respectively, reflecting foundational industries. Transport, storage, and communication account for 6.96%. Year-on-year, the sector variations demonstrate stability with subtle shifts, and the five-year CAGR underscores gradual economic evolution.
Future trends to watch in Ecuador's GDP composition include potential growth in tech-driven services and industrial diversification. Attention to sustainable practices in agriculture and construction will be crucial amidst global environmental commitments. Moreover, digital transformation could reshape trade and communication sectors, enhancing efficiency and integration in the global market.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 32.95 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 26.01 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 13.23 | 2016 | |
| 4 | 4 Construction | 11.26 | 2016 | |
| 5 | 5 Agriculture, hunting, forestry, fishing | 9.6 | 2016 | |
| 6 | 6 Transport, storage and communication | 6.96 | 2016 |
