Services sector's value added to GDP in Ecuador

In 2023, the value added by the services industry to the gross domestic product in Ecuador increased by 1.5 billion U.S. dollars (+2.28 percent) compared to 2022. While the growth is slowing down, with 67.22 billion U.S. dollars, the value added is at its peak in the observed period.
Value added of a sector is the contribution of a sector to the overall GDP. The components of value added consist of compensation of employees, taxes on production and imports less subsidies, and gross operating surplus. Value added equals the difference between a sector’s gross output and the cost of its intermediate inputs.

Find more statistics on other topics about Ecuador with key insights such as value added by the agriculture, forestry, and fishing sector to the gross domestic product, share of value added by the services industry to gross domestic product, and share of value added by the manufacturing industry to the gross domestic product.

Value added by the services industry to the gross domestic product (GDP) in Ecuador from 2014 to 2023 (in billion U.S. dollars)

Characteristic	Value in billion U.S. dollars
2023	67.22
2022	65.75
2021	61.4
2020	56.73
2019	62
2018	61.28
2017	59.14
2016	56.32
2015	56
2014	54.37

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Release date

October 2024

More information

Region

Ecuador

Survey time period

2014 to 2023

Special properties

Values in constant U.S. dollars based on 2010 prices

Supplementary notes

Data represents the value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling.
Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources.

Figures have been rounded.

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