Ecuador Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Ecuador's budget deficit was -1.28% in 2024, ranked 131st globally. This represents a 63.3% increase from 2023. Data from IMF WEO, covering 1995–2024.
Overview
Ecuador's budget deficit stood at -1.28% in 2024, a rise of +2.21% from 2023. Ecuador ranked 131st globally.
Ecuador’s primary budget deficit has narrowed to –1.28 percent of GDP in 2024, placing the country at rank 131 globally and matching Lithuania’s contemporaneous deficit level. This marks a substantial improvement from the all‑time peak of 2.92 percent in 2006, when fiscal expansion and commodity‑price volatility pushed public accounts into surplus territory. The deepest shortfall occurred in 2016, when the deficit fell to –10.29 percent, reflecting the combined impact of falling oil revenues and expansive social spending. Over the 30‑year series, the trajectory has shifted from large deficits in the early 2000s to a more restrained fiscal stance, aided by tighter expenditure controls and modest revenue growth. Compared with peers such as Belize (–1.23 percent) and Thailand (–1.29 percent), Ecuador’s current position suggests a modestly better fiscal balance, though any resurgence in external shocks or fiscal loosening could reverse the recent consolidation trend. Continued prudence in spending and diversification of revenue sources will be crucial to sustain the narrowing deficit.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2024 | -1.28% | +2.21% | #131 |
| 2023 | -3.48% | −3.53% | #81 |
| 2022 | 0.04% | +1.63% | #146 |
| 2021 | -1.59% | +5.79% | #143 |
| 2020 | -7.38% | −3.91% | #73 |
| 2019 | -3.47% | −0.67% | #59 |
| 2018 | -2.80% | +2.97% | #63 |
| 2017 | -5.77% | +4.52% | #26 |
| 2016 | -10.29% | −3.43% | #14 |
| 2015 | -6.87% | +1.24% | #29 |
| 2014 | -8.11% | +0.06% | #9 |
| 2013 | -8.17% | −5.33% | #11 |
| 2012 | -2.84% | −2.71% | #83 |
| 2011 | -0.13% | +1.26% | #142 |
| 2010 | -1.39% | +2.33% | #121 |
Detected Pattern
Analysis
Ecuador matched the Export Boom Cycle pattern in 2021. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Ecuador's budget deficit was -1.28% in 2024. Ranked 131st globally. This represents a 63.3% increase from the previous year.
Ecuador's budget deficit peaked at 2.92% in 2006.
The lowest budget deficit in Ecuador was -10.29% in 2016.
Ecuador ranks 131st globally in budget deficit as of 2024.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
The budget deficit of Ecuador in 2024 was -1.28%. This ranks 131st in the world.
Cite this page
@misc{historysaid_ecuador_budget-deficit,
title = {Ecuador Budget Deficit},
url = {https://historysaid.com/ecuador/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}