Report by the WTO Secretariat

The social structure of the Ecuadorian economy underwent considerable changes during the period under review (2011-2018). In particular, there was a notable decline in the oil sector’s share of GDP, which decreased from 13.2% in 2011 to barely 4.8% in 2017. At the same time, there was a growth in the share of services in GDP, driven above all by construction, trade and education, and health and social services. The fastest growing sector during the review period was aquaculture and shrimp fishing. The negative effects of the balanceof- payments crisis caused several sectors and branches of economic activity to contract in 2015 and 2016, and led to the adoption of safeguard measures and a cut in spending. The economic contraction triggered by the crisis had an impact on oil operations and repercussions in most industries.