84
'RFXPHQWRVGHWUDEDMRGHO6,,6( 1 R ,1',&$'25(6(&2120,&26'(/(&8$'25 &$/&8/2<)81'$0(172 0DXULFLR/HyQ*X]PiQ 6,67(0$,17(*5$'2'(,1',&$'25(662&,$/(6'(/(&8$'25 )5(17(62&,$/ 4XLWR± (FXDGRU

Indicadores Economicos Del Ecuador - Medicion y Fundamento

Embed Size (px)

Citation preview

Page 1: Indicadores Economicos Del Ecuador - Medicion y Fundamento

'RFXPHQWRV�GH�WUDEDMR�GHO�6,,6(1R �

,1',&$'25(6�(&2120,&26�'(/�(&8$'25��&$/&8/2�<�)81'$0(172

0DXULFLR�/HyQ�*X]PiQ�

6,67(0$��,17(*5$'2��'(��,1',&$'25(6��62&,$/(6�'(/��(&8$'25)5(17(��62&,$/4XLWR�± (FXDGRU

����

Page 2: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��������VHULH�)UHQWH�6RFLDO*RELHUQR�GHO�(FXDGRU���������HVWH�GRFXPHQWR�6,,6(/D�VHULH�'RFXPHQWRV�GH�WUDEDMR�GHO�6,,6( HV�DXVSLFLDGD�SRU�HO�3UR\HFWR�³6LVWHPD�LQWHJUDGR�GH�LQGLFDGRUHV�VRFLDOHV�GHO�(FXDGRU´�TXH�HO�)UHQWH�6RFLDO�GHO�*RELHUQR�GHO�(FXDGRU�UHDOL]D�FRQ�HO�DSR\R�ILQDQFLHUR�QR�UHHPEROVDEOH�GHO�%DQFR�,QWHUDPHULFDQR�GH�'HVDUUROOR�±%,'��&RQYHQLR�$71�-)������(&��3DUD�REWHQHU�FRSLDV�DGLFLRQDOHV�GH�HVWH�GRFXPHQWR�R�LQIRUPDFLyQ�VREUH�HO�6,,6(��GLUtMDVH�D��

6LVWHPD�,QWHJUDGR�GH�,QGLFDGRUHV�6RFLDOHV�GHO�(FXDGRU$PD]RQDV�\�6DQWD�0DUtD��HVT����(GLI��7DUTXL��SLVR��4XLWR��(FXDGRU7HOpIRQR�����������������������)D[�����������������&RUUHR�HOHFWUyQLFR��VLLVH#VLLVH�JRY�HF3iJLQD�:HE��ZZZ�VLLVH�JRY�HF

/RV�'RFXPHQWRV�GH�WUDEDMR�GHO�6,,6( VH�SURSRQHQ�GLIXQGLU�ORV�UHVXOWDGRV�GH�ODV�LQYHVWLJDFLRQHV�TXH�UHDOL]D�HO�6LVWHPD�,QWHJUDGR�GH�,QGLFDGRUHV�6RFLDOHV�GHO�(FXDGRU��GLUHFWDPHQWH�R�HQ�FRODERUDFLyQ�FRQ�RWUDV�LQVWLWXFLRQHV��(V�XQ�PHFDQLVPR�SDUD�SURSLFLDU�HO�LQWHUFDPELR�GH�LGHDV�\�RSLQLRQHV�HQ�WRUQR�D�WHPDV�UHODFLRQDGRV�FRQ�OD�SURGXFFLyQ�GH�HVWDGtVWLFDV�H�LQGLFDGRUHV�VRFLDOHV�\�VX�XWLOLGDG�SDUD�OD�IRUPXODFLyQ�GH�SROtWLFDV�GH�GHVDUUROOR��6X�REMHWLYR�HV�GDU�D�FRQRFHU�ORV�WUDEDMRV�GH�XQD�PDQHUD�iJLO�\�H[SHGLWD��VH�WUDWD�GH�HVWXGLRV�HQ�PDUFKD�\��HQ�FLHUWRV�FDVRV� VXMHWRV�D�UHYLVLyQ�/RV�DQiOLVLV��RSLQLRQHV�\�XVR�GH�OD�LQIRUPDFLyQ�HQ�ORV�GRFXPHQWRV�GH�OD�VHULH�QR�UHIOHMDQ�QHFHVDULDPHQWH�OD�SRVLFLyQ�RILFLDO�GHO�)UHQWH�6RFLDO�R�GH�ODV�LQVWLWXFLRQHV�TXH�FRODERUDQ�R�DXVSLFLDQ�VXV�DFWLYLGDGHV�,QYHVWLJDFLyQ���0DXULFLR /HyQ�*�'LDJUDPDFLyQ��6,,6(,PSUHVR�HQ�4XLWR��(FXDGRU

(O�6LVWHPD�,QWHJUDGR�GH�,QGLFDGRUHV�6RFLDOHV�GHO�(FXDGRU��6,,6(� HV�XQD�QRYHGRVD�\�SLRQHUD�LQLFLDWLYD�GHO�*RELHUQR�GHO�(FXDGRU��+D�VLGR�GHVDUUROODGR�FRQ�HO�DSR\R�WpFQLFR�\�ILQDQFLHUR�GHO�%DQFR�,QWHUDPHULFDQR�GH�'HVDUUROOR��%,'� \�FXHQWD�FRQ�OD�FRODERUDFLyQ�GHO�,QVWLWXWR�1DFLRQDO�GH�(VWDGtVWLFD�\�&HQVRV��,1(&��\�GH�ODV�HQWLGDGHV�GHO�)UHQWH�6RFLDO��(O�6,,6( HV�XQ�LQVWUXPHQWR�SDUD�HO�HVWXGLR�GHWDOODGR�GH�ORV�FDPELRV�HQ�ODV�FRQGLFLRQHV�GH�YLGD�GH�OD�SREODFLyQ�HFXDWRULDQD��FRPSLOD�ODV�HVWDGtVWLFDV�VRFLDOHV�GLVSRQLEOHV�HQ�HO�SDtV��XQLILFD�VXV�FULWHULRV�PHWRGROyJLFRV��ODV�HODERUD�GH�XQD�PDQHUD�~WLO�SDUD�HO�GLVHxR�GH�ODV�SROtWLFDV�VRFLDOHV��\�ODV�UH~QH�HQ�XQD�KHUUDPLHQWD�FRPSXWDUL]DGD�TXH�DVHJXUH�VX�GLIXVLyQ�DPSOLD�D�LQVWLWXFLRQHV�\�SURIHVLRQDOHV���6H�WUDWD�GHO�SULPHU�VLVWHPD�FRPSXWDUL]DGR�GH�LQIRUPDFLyQ�VRFLDO�GHO�SDtV��+D�VLGR�HVSHFLDOPHQWH�FRQFHELGR�FRPR�XQD�KHUUDPLHQWD�SDUD�DSR\DU�HO�GLVHxR�\�HYDOXDFLyQ�GH�ODV�SROtWLFDV�VRFLDOHV��FRQ�pQIDVLV�HQ�ORV�REMHWLYRV�GH�UHGXFLU�OD�SREUH]D��SURPRYHU�XQD�PD\RU�HTXLGDG�VRFLDO�\�PHMRUDU�OD�HILFLHQFLD�GH�ORV�VHUYLFLRV�VRFLDOHV��(O6,,6(DVHJXUD�D�ODV�FRPXQLGDGHV�GH�GHVDUUROOR�H�LQYHVWLJDFLyQ�HO�DFFHVR�OLEUH��iJLO�\�SHUPDQHQWH�D�OD�LQIRUPDFLyQ�VRFLDO��(V�XQ�VHUYLFLR�VLQ�FRVWR�TXH�LQFOX\H�x /D�EDVH�GH�GDWRV�FRPSXWDUL]DGD�GHO�6,,6(� &RQWLHQH�

LQGLFDGRUHV�VREUH�SREODFLyQ��HFRQRPtD��LQYHUVLyQ�VRFLDO��SREUH]D�\�GHVLJXDOGDG��HPSOHR��VDOXG��QXWULFLyQ��HGXFDFLyQ��YLYLHQGD��PHGLR�DPELHQWH��FLXGDGDQtD��3HUPLWH�UHSUHVHQWDU�JHRJUiILFDPHQWH�ORV�LQGLFDGRUHV�H�LQFOX\H�KHUUDPLHQWDV�SDUD�OD�IRFDOL]DFLyQ��2SHUD�FRQ�XQ�SURJUDPD�LQIRUPiWLFR�DPLJDEOH�EDMR�:LQGRZV�����6H�GLIXQGH�HQ�&'�520�\�D�WUDYpV�GH�,QWHUQHW��

x (O�6XEVLVWHPD�GH�LQGLFDGRUHV�VREUH�OD�VLWXDFLyQ�GH�ODV�PXMHUHV�\�ODV�GLIHUHQFLDV GH�JpQHUR��6Ì08-(5(6���GHVDUUROODGR�FRQMXQWDPHQWH�FRQ�HO�&RQVHMR�1DFLRQDO�GH�ODV�0XMHUHV��&21$08�� HODERUD�LQGLFDGRUHV�DGHFXDGRV�SDUD�FDUDFWHUL]DU�HO�ELHQHVWDU�GH�ODV�PXMHUHV�\�ORV�SUREOHPDV�TXH�ODV�DIHFWDQ��DVt�FRPR�SDUD�LGHQWLILFDU�\�DQDOL]DU�ODV�FDXVDV\�ORV�HIHFWRV�GH�ODV�GHVLJXDOGDGHV�HQ�ODV�RSRUWXQLGDGHV�GH�YLGD�TXH�WLHQHQ�ORV�KRPEUHV�\�ODV�PXMHUHV�GHO�SDtV��

x (O�6XEVLVWHPD�GH�LQGLFDGRUHV�VREUH�ORV�1LxRV�1LxDV�\�$GROHVFHQWHV��6,1,f(=���'HVDUUROODGR�FRQMXQWDPHQWH�FRQ�HO�,QVWLWXWR�1DFLRQDO�GHO�1LxR�\�OD�)DPLOLD��,11)$� HQ�HO�PDUFR�GH�OD�5HG�GH�,QIRUPDFLyQ�VREUH�OD�,QIDQFLD�\�FRQ�OD�FRODERUDFLyQ�GH�OD�FRPXQLGDG�GHGLFDGD�D�OD�SURWHFFLyQ�GH�OD�QLxH]��HV�XQD�KHUUDPLHQWD�SDUD�PHGLU�HO�ELHQHVWDU�GH�ORV�QLxRV��QLxDV�\�DGROHVFHQWHV�GHO�SDtV��VX�FDPELR�HQ�HO�WLHPSR�\�ORV�IDFWRUHV�TXH�OR�H[SOLFDQ��

x (O�0DSD�GH�OD�$FFLyQ�6RFLDO��3UHVHQWD�LQIRUPDFLyQ�VREUH�ODV�SULQFLSDOHV�DFFLRQHV�GH�ORV�RUJDQLVPRV�HVWDWDOHV��VXV�DFWLYLGDGHV�UHJXODUHV�\�DGHPiV��ORV�SUR\HFWRV�R�SURJUDPDV�HVSHFtILFRV�TXH�GHVDUUROODQ�HQ�ODV�iUHDV�GH��FXLGDGR�LQIDQWLO��HGXFDFLyQ��VDOXG��WUDQVIHUHQFLDV�PRQHWDULDV�H�LQIUDHVWUXFWXUD�VRFLDO�

x (VWXGLRV�\�VHUYLFLRV�GH�LQYHVWLJDFLyQ��LQIRUPHV�VREUH�HO�ELHQHVWDU�GH�OD�SREODFLyQ��FRQVXOWDV�\�DVLVWHQFLD�WpFQLFD��SURFHVDPLHQWR�GH�LQGLFDGRUHV�D�SHGLGR��QRWDV�\�PDQXDOHV�PHWRGROyJLFRV�

x &DSDFLWDFLyQ�\�FRPXQLFDFLyQ��FXUVRV�\�WDOOHUHV�HQ�HO�XVR�GHO�6,,6(�HQ�OD�SODQLILFDFLyQ�VRFLDO��GLVWULEXFLyQ�H�LQVWDODFLyQ�GH�OD�EDVH�GH�GDWRV��LQIRUPDFLyQ�D�XVXDULRV��SXEOLFDFLRQHV�LPSUHVDV�\�HQ�PHGLRV�HOHFWUyQLFRV�

Page 3: Indicadores Economicos Del Ecuador - Medicion y Fundamento

,1',&(

35()$&,2 �

,�������0$5&2�&21&(378$/ �

,,�����,1',&$'25(6 ��

�� 68%6(&725�352'8&&,21�����7DPDxR�GH�OD�HFRQRPtD� ��

x 3URGXFWR�LQWHUQR�EUXWR�QRPLQDO��3,%�x 3URGXFWR�LQWHUQR�EUXWR�UHDOx 3URGXFWR�LQWHUQR�EUXWR�SHU�FiSLWD

����&UHFLPLHQWR�HFRQyPLFR ��x 7DVD�GH�FUHFLPLHQWR�GHO�3,%�UHDOx 7DVD�GH�FUHFLPLHQWR�GHO�3,%�UHDO�SHU�FiSLWD�

����(VWUXFWXUD�GH�OD�HFRQRPtD ������� 3URGXFFLyQ��3,%�SRU�VHFWRUHV�D�SUHFLRV�FRQVWDQWHV ������� 7UDQVDEOHV�± QR�WUDQVDEOHV��3,%�SRU�VHFWRUHV�D�SUHFLRV�FRQVWDQWHV ��������'HPDQGD��3,%�SRU�WLSR�GH�JDVWR�D�SUHFLRV�FRQVWDQWHV ��������'LVWULEXFLyQ�SULPDULD�GHO�LQJUHVR��3,%��D�SUHFLRV�FRUULHQWHV ��

�� 68%6(&725�$*5(*$'26�021(7$5,26�����'LQHUR ��

x 0�x 0�x %DVH�PRQHWDULDx 50,�0�x 0��0�

����7DVDV�GH�LQWHUpV�GRPpVWLFDV ��x 7DVD�GH�LQWHUpV�VREUH�SUpVWDPRV��DFWLYD�x 7DVD�GH�LQWHUpV�VREUH�GHSyVLWRV��SDVLYD�x 0DUJHQ�ILQDQFLHUR

�� 68%6(&725�,1)/$&,21����,QIODFLyQ ��

x 7DVD�GH�FUHFLPLHQWR�GHO�tQGLFH�GH�SUHFLRV�DO�FRQVXPLGRU�x 7DVD�GH�FUHFLPLHQWR�GHO GHIODFWRU�GHO�FRQVXPR�ILQDO�GH�ORV�KRJDUHVx 7DVD�GH�FUHFLPLHQWR�GHO�GHIODFWRU�GHO�3,%

Page 4: Indicadores Economicos Del Ecuador - Medicion y Fundamento

�� 68%6(&725�&20(5&,2�(;7(5,25� ������%DODQ]D�FRPHUFLDO�\�6DOGR�HQ�FXHQWD�FRUULHQWH ��

x %DODQ]D�FRPHUFLDOx %DODQ]D�FRPHUFLDO�SHWUROHUDx %DODQ]D�FRPHUFLDO�QR�SHWUROHUDx 6DOGR�HQ�FXHQWD�FRUULHQWH

����$SHUWXUD�GH�OD�HFRQRPtD� ��x $SHUWXUD�GH�OD�HFRQRPtDx ([SRUWDFLRQHV�)2%x ,PSRUWDFLRQHV�&,)

����5HVHUYD�PRQHWDULD�LQWHUQDFLRQDO�H�,QYHUVLyQ�H[WUDQMHUD�GLUHFWD ��x ,QYHUVLyQ�H[WUDQMHUD�GLUHFWDx 5HVHUYD�PRQHWDULD�LQWHUQDFLRQDO

����7LSR�GH�FDPELR�\�'HYDOXDFLyQ� ��x 7LSR�GH�FDPELRx ,QGLFH�GH�WLSR�GH�FDPELR�UHDOx 'HYDOXDFLyQ

����(VWUXFWXUD�GH�ODV�H[SRUWDFLRQHV ���������6HJ~Q�OXJDU�GH�GHVWLQR ���������6HJ~Q�SURGXFWRV ��

����(VWUXFWXUD�GH�ODV�LPSRUWDFLRQHV ����������6HJ~Q�OXJDU�GH�RULJHQ ����������3RU�XVR�R�GHVWLQR�HFRQyPLFR ��

���68%6(&725�7(50,126�'(�,17(5&$0%,2� ��������7pUPLQRV�GH�LQWHUFDPELR�LQWHUQDFLRQDO ��������7pUPLQRV�GH�LQWHUFDPELR�GRPpVWLFR ��������7pUPLQRV�GH�LQWHUFDPELR�ELHQHV�WUDQVDEOHV�± QR�WUDQVDEOHV ��

���68%6(&725�'(8'$�(;7(51$� ������'HXGD�H[WHUQD ��

x 6DOGR�ILQDO�GH�OD�GHXGD�H[WHUQD ��x 'HXGD�H[WHUQD�WRWDOx 'HXGD�H[WHUQD�S~EOLFDx 'HXGD�H[WHUQD�SULYDGD

x 6HUYLFLR�GH�OD�GHXGD�H[WHUQDx 6HUYLFLR�WRWDO��S~EOLFD�\�SULYDGD�

Page 5: Indicadores Economicos Del Ecuador - Medicion y Fundamento

x 6HUYLFLR�GH�OD�GHXGD�S~EOLFDx 6HUYLFLR�GH�OD�GHXGD�SULYDGD

����68%6(&725�),1$1=$6�38%/,&$6� ������)LQDQ]DV�S~EOLFDV ��

x ,QJUHVRV�WRWDOHVx *DVWRV�WRWDOHVx 5HVXOWDGR�JOREDO�\�UHVXOWDGR�SULPDULR��GpILFLW�ILVFDO�

Page 6: Indicadores Economicos Del Ecuador - Medicion y Fundamento

35()$&,2

(VWH� GRFXPHQWR� VH� RULJLQD� HQ� HO� SURFHVR� GH� HODERUDFLyQ� GHO� 6LVWHPD� ,QWHJUDGR� GH�,QGLFDGRUHV�6RFLDOHV�GHO�(FXDGRU�± 6,,6(�\�FRQWLHQH�ORV�LQGLFDGRUHV�GHO�VHFWRU�(FRQRPtD��FRQ�VXV�FRUUHVSRQGLHQWHV�GHILQLFLRQHV�\�PHWRGRORJtD�GH�FiOFXOR��(O�6,,6(�LQFOX\H�LQGLFDGRUHV�HFRQyPLFRV�\D�TXH�FRQVLGHUD�QHFHVDULR�GRWDU�GH�LQVWUXPHQWRV�TXH� IDFLOLWHQ� OD� YLQFXODFLyQ� GH� ODV� SROtWLFDV� VRFLDOHV� \� HFRQyPLFDV� HQ� HO� SDtV�� $PEDV�UHTXLHUHQ� SDUD� VX� GHELGD� IRUPXODFLyQ� XQ� DGHFXDGR� VLVWHPD� GH� LQIRUPDFLyQ� TXH� SHUPLWD�WRPDU� HQ� FXHQWD� VXV� LQWHUUHODFLRQHV� H� LPSDFWRV� VREUH� ODV� FRQGLFLRQHV� GH� YLGD� GH� OD�SREODFLyQ��/DPHQWDEOHPHQWH��HQ�HO�(FXDGRU�QR�KD�H[LVWLGR�OD�VXILFLHQWH�LQIRUPDFLyQ�SDUD�HYDOXDU�HO�FRVWR�VRFLDO�SURYRFDGR�SRU�OD�FULVLV�HFRQyPLFD�\�ODV�SROtWLFDV�GH�HVWDELOL]DFLyQ�\�DMXVWH��/D�UHDOL]DFLyQ�SRU�SDUWH�GHO�,1(&�GH�ODV�(QFXHVWDV�GH�&RQGLFLRQHV�GH�9LGD�D�SDUWLU�GH� ������ KD� FXELHUWR� HVWD� IDOHQFLD� VXPLQLVWUDGR� XQD� LPSRUWDQWH� IXHQWH� SULPDULD� SDUD� HO�PHMRU� FRQRFLPLHQWR� \� HYDOXDFLyQ� GH� OD� VLWXDFLyQ� VRFLDO� GH� ORV� HFXDWRULDQRV�� LQVWUXPHQWR�TXH� KD� VLGR� XWLOL]DGR� DPSOLDPHQWH� SRU� HO� 6,,6(� SDUD� OD� FRQVWUXFFLyQ� GH� XQD� SDUWH�LPSRUWDQWH�GH�VXV�LQGLFDGRUHV��(Q� HVWH� GRFXPHQWR� VH� GLYLGHQ� ORV� LQGLFDGRUHV� GHO� VHFWRU�(FRQRPtD� HQ� VLHWH� VXEVHFWRUHV��3URGXFFLyQ�� $JUHJDGRV� 0RQHWDULRV�� ,QIODFLyQ�� &RPHUFLR� ([WHULRU�� 7pUPLQRV� GH�,QWHUFDPELR��'HXGD�([WHUQD�\�)LQDQ]DV�3~EOLFDV��(VWH�FRQMXQWR�GH�LQGLFDGRUHV�QR�SUHWHQGH�DJRWDU�OD�DPSOLD�JDPD�XWLOL]DGD�HQ�HO�FDPSR�GH�OD�FLHQFLD�HFRQyPLFD��VLQ�HPEDUJR��GD�XQD�LGHD� LQWHJUDO� GH� OD� HFRQRPtD� HFXDWRULDQD� \�� HQ� JUDQ� SDUWH�� SHUPLWH� DQDOL]DU� HO�GHVHQYROYLPLHQWR�HFRQyPLFR�GHO�SDtV�HQ�ORV�~OWLPRV�WUHLQWD�DxRV��3DUD�FDGD�LQGLFDGRU�VH�LQFOX\H�XQD�ILFKD�WpFQLFD�TXH�H[SOLFD�ODV�GHILQLFLRQHV�FRQFHSWXDOHV�\� RSHUDWLYDV�� IRUPDV� GH� FiOFXOR�� PHGLGD�� IXHQWHV� GH� GDWRV�� GHVJORVHV�� FRPSDUDELOLGDG��ELEOLRJUDItD�\�REVHUYDFLRQHV��/XHJR�GH�FDGD�ILFKD�WpFQLFD�FRQVWD�XQ�FXDGUR�FRQ�ODV�FLIUDV�FRUUHVSRQGLHQWHV�DO�LQGLFDGRU�\�XQ�JUiILFR�GHO�LQGLFDGRU��/D� HODERUDFLyQ� GH� HVWRV� LQGLFDGRUHV� VH� KD� EDVDGR� SULQFLSDOPHQWH� HQ� ODV� GLIHUHQWHV�SXEOLFDFLRQHV� HVWDGtVWLFDV� GHO�%DQFR�&HQWUDO� GHO�(FXDGRU� \� GHO� ,1(&��(O�%DQFR�&HQWUDO�FRODERUy�WDPELpQ�FRQ�VXJHUHQFLDV�\�REVHUYDFLRQHV�DO�SUHVHQWH�WUDEDMR��&RQ�HVWH�GRFXPHQWR�HO�6LVWHPD�,QWHJUDGR�GH�,QGLFDGRUHV�6RFLDOHV�GHO�(FXDGRU�FRQWLQ~D�VX�SROtWLFD�GH�GLIXVLyQ�GH�ODV�HVWDGtVWLFDV�HFXDWRULDQDV��DO�WLHPSR�TXH�GHMD�XQ�UHVSDOGR�HVFULWR�GHO�FRQWHQLGR�GHO�6,,6(�

Page 7: Indicadores Economicos Del Ecuador - Medicion y Fundamento

,����0$5&2�&21&(378$/

/RV� LQGLFDGRUHV� VREUH� OD� HFRQRPtD� HVWiQ� FODVLILFDGRV� HQ� VLHWH� VXEVHFWRUHV�� DJUHJDGRV�PRQHWDULRV�� FRPHUFLR� H[WHULRU�� GHXGD� H[WHUQD�� ILQDQ]DV S~EOLFDV�� LQIODFLyQ�� SURGXFFLyQ� \�WpUPLQRV� GH� LQWHUFDPELR�� (VWDV� FDWHJRUtDV� VH� UHILHUHQ� D� WHPiWLFDV� TXH� EXVFDQ� D\XGDU� DO�DQiOLVLV�GH� OD� UHODFLyQ� HQWUH� OD�HYROXFLyQ�GH� OD�HFRQRPtD� \� ODV�FRQGLFLRQHV�GH�YLGD�GH� OD�SREODFLyQ��(VWRV�YtQFXORV�HQWUH�ORV�IDFWRUHV HFRQyPLFRV�\�VRFLDOHV�VH�SXHGHQ�VLQWHWL]DU�HQ�ORV�VLJXLHQWHV�DVSHFWRV��� /D� FULVLV� GH� OD� GHXGD� GH� OD� GpFDGD� GH� ����� TXH� SURYRFy� SURFHVRV� LQIODFLRQDULRV�

LPSRUWDQWHV� \� ODV� FRQWLQXDV� SROtWLFDV� GH� HVWDELOL]DFLyQ� \� DMXVWH� PDFURHFRQyPLFRV���GHWHUPLQy�FRVWRV�VRFLDOHV�SDUD�DPSOLRV�VHFWRUHV�GH�OD�SREODFLyQ�GHO�SDtV��/D�LQIODFLyQ�WLHQH�GRV�FRQVHFXHQFLDV�SULQFLSDOHV�HQ�ORV�QLYHOHV�GH�YLGD��3ULPHUR��OD�LQFLGHQFLD�GH�OD�SREUH]D�DXPHQWD�FXDQGR�OD�WDVD�GH�LQIODFLyQ�HV�VXSHULRU�DO�LQFUHPHQWR�GH�ORV�VDODULRV�QRPLQDOHV� \�� SRU� WDQWR�� SURGXFH� XQ� GHWHULRUR� GH� ORV� VDODULRV� UHDOHV�� 6HJXQGR�� HO�³LPSXHVWR´�LQIODFLRQDULR�GHWHULRUD�OD�FDSDFLGDG�DGTXLVLWLYD�GH�ODV�WHQHQFLDV�GH�GLQHUR�\�ORV�DKRUURV�GH�OD�FODVH�PHGLD��(O�LPSXHVWR�LQIODFLRQDULR�DIHFWD�HQ�PHQRU�SURSRUFLyQ�D�TXLHQHV�\D�VH�HQFXHQWUDQ�EDMR�OD�OtQHD�GH�SREUH]D�GHELGR�D�TXH�pVWRV�WLHQHQ�SHTXHxDV�FDQWLGDGHV�GH�HIHFWLYR�\�HVFDVRV�DKRUURV��3RU�VX�SDUWH�� ODV�SROtWLFDV�GH�HVWDELOL]DFLyQ�LQFUHPHQWDQ� OD� SREUH]D� HQ� HO� FRUWR� SOD]R� GDGR� TXH�� SRU� XQ� ODGR�� OD� UHFHVLyQ� TXH�SURGXFH�DXPHQWD�HO GHVHPSOHR�\��SRU�RWUR��GLVPLQX\HQ�ORV�VDODULRV�UHDOHV�SDUD�FRQWUDHU�OD� GHPDQGD� LQWHUQD� �&DUGRVR�� ������� (Q� HVWH� VHQWLGR�� ORV� LQGLFDGRUHV�PDFURHFRQyPLFRV�SHUPLWHQ�FRQWH[WXDOL]DU�ORV�FDPELRV�HQ�ORV�LQGLFDGRUHV�VRFLDOHV�

�� 3RU�SROtWLFDV�GH�HVWDELOL]DFLyQ�VH�HQWLHQGH�D�DTXHOODV�FRQGXFHQWHV�D�UHGXFLU�OD�GHPDQGD�D�ORV�QLYHOHV�GH�OD�SURGXFFLyQ�QDFLRQDO�\��SRU�SROtWLFDV�GH�DMXVWH�HVWUXFWXUDO��D�DTXHOODV�GLULJLGDV�D�LQFUHPHQWDU�OD�SURGXFFLyQ�QDFLRQDO�D�WUDYpV�GH�XQ�XVR�PiV�HILFLHQWH�GH�ORV�UHFXUVRV��(O�KLOR�FRQGXFWRU�GHO�DMXVWH�HVWUXFWXUDO�HV�HO�FDPELR�HQ�OD�FRPSRVLFLyQ�GH�OD�SURGXFFLyQ�QDFLRQDO�KDFLD�ELHQHV� WUDQVDEOHV� �H[SRUWDEOHV� \�TXH� FRPSLWHQ� FRQ�ELHQHV�LPSRUWDGRV��PHGLDQWH�HO�XVR�GH�SUHFLRV�UHODWLYRV�TXH�EHQHILFLHQ�D�HVWRV�VHFWRUHV�FRPR��SRU�HMHPSOR��OD�GHSUHFLDFLyQ�GHO�WLSR�GH�FDPELR�UHDO��$�ODV�SROtWLFDV�GH�HVWDELOL]DFLyQ�\�GH�DMXVWH�HVWUXFWXUDO�VH�ODV�GHQRPLQD�HQ�JHQHUDO�³SROtWLFDV�GH�DMXVWH´��+RUWRQ���������

�� /D� FULVLV� GH� OD� GHXGD� SURYRFy� XQ� FDPELR� HQ� HO�PRGHOR� HFRQyPLFR� HQ� OD� UHJLyQ�� 6H�DEDQGRQy� OD� LQGXVWULDOL]DFLyQ� VXVWLWXWLYD� GH� LPSRUWDFLRQHV� SDUD� SURPRYHU� OD�SURGXFFLyQ� GH� ELHQHV� WUDQVDEOHV�� /DV� QXHYDV� FRQGLFLRQHV� PDFURHFRQyPLFDV� GLHURQ�OXJDU�D�SROtWLFDV�GH�DMXVWH�WHQGLHQWHV�D�JHQHUDU�XQ�VXSHUiYLW�FRPHUFLDO�TXH�FRDG\XYDUD�D� UHGXFLU� ODV� QHFHVLGDGHV� GH� ILQDQFLDPLHQWR� H[WHUQR� \� D� JDUDQWL]DU� HO� VHUYLFLR� GH� OD�GHXGD�H[WHUQD��(VWH�REMHWLYR� LPSOLFDED��SRU�XQ� ODGR��PHMRUDU� ORV�SUHFLRV� UHODWLYRV�GH�ORV�ELHQHV�H[SRUWDEOHV�SDUD�OR�FXDO�VH�GHSUHFLy�HO�WLSR�GH�FDPELR�UHDO��\��SRU�RWUR��HQ�XQ� SULPHU� PRPHQWR�� UHVWULQJLU� ODV� LPSRUWDFLRQHV�� 3RVWHULRUPHQWH�� VH� SURPRYHUtD� OD�OLEHUDOL]DFLyQ� FRPHUFLDO� \�� HQ� JHQHUDO�� GH� OD� EDODQ]D� GH� SDJRV� HQ� OD� UHJLyQ�� FRQ� OD�ILQDOLGDG�PHMRUDU� ODV�RSRUWXQLGDGHV�GH� H[SRUWDFLyQ� H� LQYHUVLyQ� H[WUDQMHUD�SDUD� WRGRV�ORV�SDtVHV��

�� $� LQLFLRV� GH� OD� GpFDGD� GH� ������ VH� DGRSWDURQ� SROtWLFDV� GH� HVWDELOL]DFLyQ�PDFURHFRQyPLFD�GH� HPHUJHQFLD�GHELGR� D�TXH� JUDQ�SDUWH�GHO� HQGHXGDPLHQWR� H[WHUQR�HVWXYR�GLULJLGR�D�ILQDQFLDU�HO�GpILFLW�GHO�VHFWRU�S~EOLFR�\��FXDQGR�GLVPLQX\y�OD�HQWUDGD�

Page 8: Indicadores Economicos Del Ecuador - Medicion y Fundamento

GH�UHFXUVRV�H[WHUQRV��IXH�QHFHVDULR�UHFRUWDU�HO�JDVWR�S~EOLFR�\��HQ�HVSHFLDO��OD�LQYHUVLyQ�S~EOLFD� \� HO� JDVWR� VRFLDO�� FRQ� HVWRV� UHFRUWHV� VH� JHQHUy� XQ� � VXSHUiYLW� SULPDULR� TXH�SHUPLWLHUD�SDJDU�HO�VHUYLFLR�GH�OD�GHXGD�S~EOLFD��6H�FRQWHPSOy��DGHPiV��OD�UHVWULFFLyQ�GH�LPSRUWDFLRQHV��FRPR�PHFDQLVPR�SDUD�FHUUDU�OD�EUHFKD�H[WHUQD��\�OD�FRQWUDFFLyQ�GH�OD�LQYHUVLyQ�SULYDGD�\�ORV�VDODULRV�UHDOHV��SDUD�UHGXFLU�OD�GHPDQGD�LQWHUQD��6H�DIHFWDURQ�SDUWLFXODUPHQWH�ODV�LPSRUWDFLRQHV�GH�ELHQHV�GH�FDSLWDO��OR�TXH�VH�GHWHUPLQy��D�VX�YH]��OD� UHFHVLyQ� VXIULGD� SRU� HO� VHFWRU� PDQXIDFWXUHUR� \� HO� FRQVLJXLHQWH� LQFUHPHQWR� GHO�GHVHPSOHR�\�VXEHPSOHR��

�� /D� FRQWUDFFLyQ� GH� OD� LQYHUVLyQ� S~EOLFD� \� SULYDGD�� GH� ODV� LPSRUWDFLRQHV� GH� ELHQHV� GH�FDSLWDO�� GHO� VDODULR� UHDO� \� GHO� JDVWR� VRFLDO�� JHQHUy� FRVWRV� VRFLDOHV� PX\� DOWRV� \�FRPSURPHWLy� HO� FUHFLPLHQWR� HFRQyPLFR� IXWXUR�� (VWDV� UHGXFFLRQHV��PRWLYDGDV� FRQ� HO�ILQ�GH�JDUDQWL]DU�HO�SDJR�GHO�VHUYLFLR�GH�OD�GHXGD�H[WHUQD�S~EOLFD��LPSOLFDURQ�IUHQDU�\�R�SRVWHUJDU�HO�GHVDUUROOR�VRFLDO�GH�ORV�SDtVHV�GH�$PpULFD�/DWLQD�\��HQ�JHQHUDO��GHO�7HUFHU�0XQGR�� /RV� DOWRV� FRVWRV� VRFLDOHV� GHO� GHFHQLR� ����� GLHURQ� OXJDU� D� TXH� DOJXQRV�RUJDQLVPRV� LQWHUQDFLRQDOHV�SURSXVLHUDQ�XQ�³DMXVWH�FRQ�URVWUR�KXPDQR´��SRU�HMHPSOR��HQ������� HO�318' SXEOLFy� HO� SULPHU� LQIRUPH� VREUH� HO� ³GHVDUUROOR�KXPDQR´� FRQ� HO�TXH� UHFRUGy� TXH� HO� ILQ GH� WRGR� SURFHVR� HFRQyPLFR� HV� HOHYDU� HO� ELHQHVWDU� GH� OD�SREODFLyQ��(O� FDPELR� HQ� OD�RULHQWDFLyQ�GH�GLFKRV�RUJDQLVPRV� VH�YLR� LQIOXHQFLDGR�HQ�EXHQD� SDUWH� SRU� OD� GLVFXVLyQ� VREUH� OD� SREUH]D� \� HO� ELHQHVWDU� SURPRYLGD� SRU� HO�HFRQRPLVWD� KLQG~�$PDUW\D� 6HQ� D� TXLHQ�� HQ� ������ VH� OH� RWRUJy� HO� 3UHPLR�1REHO� GH�(FRQRPtD��(O�%DQFR�0XQGLDO�\�HO�%,'��SRU�VX�SDUWH�� UHDOL]DURQ� LQYHVWLJDFLRQHV�SDUD�FRPSUHQGHU� PHMRU� OD� GLQiPLFD� GH� OD� SREUH]D� \� OD� GLVWULEXFLyQ� GHO� LQJUHVR� \� VXV�YtQFXORV�FRQ�HO�GHVHPSHxR�GH�OD�HFRQRPtD�\�ODV�SROtWLFDV�GH�DMXVWH���

�� 7UDGLFLRQDOPHQWH�� HO� FUHFLPLHQWR� HFRQyPLFR� KD� VLGR� YLVWR� FRPR� XQD� FRQGLFLyQ�QHFHVDULD� SDUD� OD� VXSHUDFLyQ� GH� OD� SREUH]D�� 1R� REVWDQWH�� HQ� PXFKRV� FDVRV�� HO�FUHFLPLHQWR� GH� OD� HFRQRPtD� VH� KD� SHUFLELGR� FRPR� XQ� ILQ� HQ� Vt� PLVPR� FXDQGR�� HQ�UHDOLGDG�� FRQVWLWX\H� XQ� PHGLR� SDUD� PHMRUDU� HO� ELHQHVWDU� GH� OD� SREODFLyQ�� (O� ILQ� GH�FXDOTXLHU�HFRQRPtD�HV�HOHYDU�HO�ELHQHVWDU�GH�OD�JHQWH�\��HQ�HVSHFLDO��HO�GH�ORV�SREUHV��

�� /DV� WHRUtDV� VREUH� HO� ³FDSLWDO� KXPDQR´� LPSOLFDURQ� XQ� UHWRUQR� D� OD� FRQFHSFLyQ� GHO�GHVDUUROOR�HFRQyPLFR�SURSXHVWD�SRU�$GDP�6PLWK�HQ�OD�5LTXH]D�GH�OD�QDFLRQHV��HQ�OD�TXH� HO� GHVDUUROOR� GHO� SRWHQFLDO� KXPDQR�� OD� GLYLVLyQ� GHO� WUDEDMR� \� OD� H[SHULHQFLD�FRQVWLWXtDQ� HO� HMH� FHQWUDO� GHO� DQiOLVLV�� (VWH� FDPELR� HQ� ODV� WHRUtDV� GHO� FUHFLPLHQWR�HFRQyPLFR�ORJUy�VXDYL]DU�\�KXPDQL]DU�OD�FRQFHSFLyQ�GHO�GHVDUUROOR��6HQ���������/DV�WHRUtDV� GHO� FDSLWDO� KXPDQR� OODPDURQ� OD� DWHQFLyQ� VREUH� ODV� YLUWXGHV� GH� OD� LQYHUVLyQ�VRFLDO�HQ�HO�FUHFLPLHQWR�HFRQyPLFR�VRVWHQLGR��8QD�SREODFLyQ�VDQD�\�HGXFDGD�HV�XQD�IXHU]D� GH� WUDEDMR� SURGXFWLYD� \� FUHDWLYD�� TXH� SRWHQFLD� OD� H[SDQVLyQ� GH� OD� IURQWHUD� GH�SURGXFFLyQ�GHO�SDtV��6LQ�HPEDUJR��HVWD�YLVLyQ�WLHQH�OD�OLPLWDFLyQ�GH�YHU�H[FOXVLYDPHQWH�DO� VHU�KXPDQR�FRPR�XQ� IDFWRU�GH�SURGXFFLyQ�SDUD� OD� FUHDFLyQ�GH�ELHQHV�\� VHUYLFLRV��(VWR�HV��HYLGHQFLD�VROR�XQ�DVSHFWR�GH�OD�UHODFLyQ�HQWUH�HO�VHU�KXPDQR�\�OD�HFRQRPtD���OD�GH� VHU�XQ� IDFWRU�SURGXFWLYR�� \�GHMD�GH� ODGR� OD� LPSRUWDQFLD�GHO� VHU�KXPDQR�SRU� Vt�PLVPR�� 6H� WUDWD� GH� XQ� HQIRTXH� TXH�� SRU� HMHPSOR�� QR� MXVWLILFD� SROtWLFDV� VRFLDOHV� GH�SURWHFFLyQ� HVSHFLDO� D� QLxRV�DV�� DQFLDQRV�� GLVFDSDFLWDGRV�� HWF��� HQ� WDQWR� pVWRV� QR�FRQWULEX\HQ� D� OD� SURGXFFLyQ�� (Q� HO� HQIRTXH� GHO� GHVDUUROOR� KXPDQR�� HQ� FDPELR�� ODV�SROtWLFDV�VRFLDOHV�VH�MXVWLILFDQ�LQGHSHQGLHQWHPHQWH�GH�VX�UHQGLPLHQWR�HFRQyPLFR�R�GH�TXH�DXPHQWHQ�R�QR�OD�SURGXFFLyQ�HQ�HO�FRUWR�R�HQ�HO�ODUJR�SOD]R��HO�PHMRUDPLHQWR�GH�OD�FDOLGDG�GH�YLGD�HV�HO�REMHWLYR�SULPRUGLDO�GHO�GHVDUUROOR�

Page 9: Indicadores Economicos Del Ecuador - Medicion y Fundamento

�� /D�FRQVHFXFLyQ�GHO�FUHFLPLHQWR�HFRQyPLFR��VL�ELHQ�SXHGH�VHU�XQD�FRQGLFLyQ�QHFHVDULD�SDUD� VXSHUDU� OD� SREUH]D�� QR� HV� VXILFLHQWH�� (O� FUHFLPLHQWR� HFRQyPLFR� SXHGH� VHU�LQHTXLWDWLYR� \�� SRU� WDQWR�� EHQHILFLDU� VROR� D� GHWHUPLQDGRV� JUXSRV�� /DV� GHVLJXDOGDGHV�VRFLDOHV�FRQVWLWX\HQ�XQ�DVSHFWR�LPSRUWDQWH�GH�ODV�VRFLHGDG�DFWXDOHV�\�VX�HUUDGLFDFLyQ�XQ�REMHWLYR�GH�ODV�SROtWLFDV�S~EOLFDV��

�� /DV�SROtWLFDV�GH�DMXVWH�GLULJLGDV�D�LPSXOVDU�OD�SURGXFFLyQ�GH�ELHQHV�WUDQVDEOHV�LPSOLFDQ�WDPELpQ�OD�UHRULHQWDFLyQ�GH�ORV�IDFWRUHV�GH�SURGXFFLyQ�KDFLD�HVH�VHFWRU��HQ�HVSHFLDO�GH�OD� PDQR� GH� REUD�� (VWR� GHWHUPLQD� OD� QHFHVLGDG� GH� FRQWDU� FRQ� LQGLFDGRUHV� TXH� GHQ�FXHQWD�GH� OD�HVWUXFWXUD�GH� OD�SURGXFFLyQ�GHO�SDtV�\�GH�OD�IXHU]D�ODERUDO�SRU�UDPDV�GH�DFWLYLGDG�HFRQyPLFD��

��� 'HVGH�OD�SHUVSHFWLYD�GHO�GHVDUUROOR�KXPDQR��QR�HV�VXILFLHQWH�REVHUYDU�HQ�FXiQWR�FUHFH�OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�� VLQR� OD� FDOLGDG� \� HVWUXFWXUD� GH� HVH� FUHFLPLHQWR��3DUD�HVWH�HQIRTXH�HV�LPSRUWDQWH�HYLWDU�ORV�VLJXLHQWHV�WLSRV�GH�FUHFLPLHQWR�HFRQyPLFR�TXH�SHUSHW~DQ� ODV�GHVLJXDOGDGHV�DFWXDOHV� \�TXH�� SRU�HQGH�� VRQ� LQVRVWHQLEOHV� �318'��������D� &UHFLPLHQWR� VLQ� HPSOHR�� HQ� HO� TXH� OD� HFRQRPtD� HQ� JHQHUDO� FUHFH� SHUR� VLQ� TXH�

DXPHQWHQ�ODV�RSRUWXQLGDGHV�GH�HPSOHR�E� &UHFLPLHQWR� VLQ� HTXLGDG�� HQ�TXH� ORV� IUXWRV�GHO� FUHFLPLHQWR� HFRQyPLFR�EHQHILFLDQ�

SULQFLSDOPHQWH�D�ORV�ULFRV�HQ�GHVPHGUR�GH�ORV�SREUHV��F� &UHFLPLHQWR�VLQ�YR]�GH�ODV�FRPXQLGDGHV��HQ�GRQGH�HO�FUHFLPLHQWR�GH�OD�HFRQRPtD�

QR�YD�DFRPSDxDGR�GH�XQ�IRUWDOHFLPLHQWR�GH�OD�GHPRFUDFLD�R�GH�OD�SRWHQFLDFLyQ�GH�OD�JHQWH��

G� &UHFLPLHQWR� VLQ� UDtFHV�� HQ� HO� TXH� HO� FUHFLPLHQWR� HFRQyPLFR� GHWHUPLQD� TXH� OD�LGHQWLGDG�GH�ORV�SXHEORV�GHVDSDUH]FD�

H� &UHFLPLHQWR� VLQ� IXWXUR�� HQ�TXH� ODV�JHQHUDFLRQHV� DFWXDOHV�GHVSLOIDUUDQ� ORV� UHFXUVRV�TXH�QHFHVLWDUiQ�ODV�JHQHUDFLRQHV�IXWXUDV��

��� 6H� UHTXLHUH� GH� XQ� FUHFLPLHQWR� HFRQyPLFR� \� GHVDUUROOR� KXPDQR� TXH� VH� UHIXHUFHQ� \�UHWURDOLPHQWHQ� UHFtSURFDPHQWH�� (O� FUHFLPLHQWR� HFRQyPLFR� HV� LPSRUWDQWH� SDUD�DXPHQWDU� ODV� RSRUWXQLGDGHV� GH� HPSOHR� PHMRUDU� ORV� VDODULRV� \� GLVWULEXLU�HTXLWDWLYDPHQWH�ORV�UHFXUVRV��6LQ�HPEDUJR��HVWH�YtQFXOR�QR�HV�DXWRPiWLFR�\��SRU�WDQWR��VH�QHFHVLWDQ�SROtWLFDV�S~EOLFDV�H[SUHVDV�TXH�OR�UHIXHUFHQ��318'��������

��� (O�GHVDUUROOR�KXPDQR HV�XQ�SURFHVR�HQ�HO�TXH�VH�DPSOtDQ�ODV�RSFLRQHV�GH�OD�JHQWH��(Q�HVWH�SURFHVR�OD�FRQVHFXFLyQ�GH�XQ�HPSOHR�DGHFXDGR�TXH�JDUDQWLFH�D�ODV�SHUVRQDV�\�VXV�KRJDUHV�XQ�LQJUHVR��HV�QHFHVDULR�SDUD�DXPHQWDU�ODV�RSFLRQHV�GH�OD�JHQWH�\��SRU�WDQWR��VX�ELHQHVWDU�� 'H� LJXDO� PDQHUD�� HO� LQFUHPHQWR� GH� ORV� VDODULRV�R� GH� ORV� LQJUHVRV� GH� OD�SREODFLyQ� RFXSDGD� SHUPLWH� DPSOLDU� VXV� RSFLRQHV� \� ELHQHVWDU�� (Q� HVWH� VHQWLGR�� HO�FUHFLPLHQWR�HFRQyPLFR�HV�QHFHVDULR��318'���������

��� 3RU�VX�SDUWH��HO�FUHFLPLHQWR�HFRQyPLFR�VRVWHQLGR�VH�VXVWHQWD�HQ�OD�FDSDFLGDG�KXPDQD��/D� SREODFLyQ� HGXFDGD� XWLOL]D�PiV� HILFLHQWHPHQWH� HO� FDSLWDO�� HV� FDSD]� GH� LQQRYDU� ORV�SURFHVRV�GH�SURGXFFLyQ�\�GLIXQGH�VXV�FRQRFLPLHQWRV�HQWUH�VXV�FRPSDxHURV�GH�WUDEDMR��DXPHQWDQGR� GH� HVWD�PDQHUD� OD� SURGXFWLYLGDG� GH� WRGRV� ORV� IDFWRUHV� GH� OD� SURGXFFLyQ��318'���������1R�REVWDQWH��PHMRUDU�HO�QLYHO�HGXFDWLYR�GH�OD�JHQWH�QR�HV�VXILFLHQWH��HV�WDPELpQ� QHFHVDULR� DPSOLDU� ODV� RSRUWXQLGDGHV� GH� XWLOL]DU� HVH� FRQRFLPLHQWR�� 3RU� WDO�

Page 10: Indicadores Economicos Del Ecuador - Medicion y Fundamento

PRWLYR�� OD� UHODFLyQ� HQWUH� FUHFLPLHQWR� \� GHVDUUROOR� KXPDQR� GHEH� UHIRU]DUVH�FRQWLQXDPHQWH��JHQHUDQGR�XQ�FtUFXOR YLUWXRVR��

��� /D�FRQVHFXFLyQ�GH�XQ�HPSOHR�\��SRU�HQGH��GH�XQ�LQJUHVR��DVt�FRPR�HO�PHMRUDPLHQWR�GH�ORV� LQJUHVRV� GH� ODV� SHUVRQDV� RFXSDGDV�� SHUPLWHQ� D� OD� SREODFLyQ� VDWLVIDFHU� VXV�QHFHVLGDGHV� EiVLFDV� \�� HQ� OD�PHGLGD� HQ� TXH� WLHQHQ� H[FHGHQWHV�� DFXPXODU� DFWLYRV�� \D�VHDQ� PRQHWDULRV�� ItVLFRV� R� FDSLWDO� KXPDQR�� 0D\RUHV� LQJUHVRV� IDPLOLDUHV� LPSOLFDQ�PHMRUHV� \�PiV�YDULDGDV� GLHWDV� DOLPHQWLFLDV� \�PD\RUHV� JDVWRV� HQ� OD� HGXFDFLyQ�GH� ORV�KLMRV�\�GH�ORV�PLHPEURV�GHO�KRJDU�HQ�JHQHUDO��

��� (O� FUHFLPLHQWR� HFRQyPLFR�� DO� JHQHUDU�PD\RUHV� UHFXUVRV� ILVFDOHV�� SHUPLWH� DPSOLDU� HO�JDVWR�VRFLDO��PHGLGR�\D�VHD�FRPR�SRUFHQWDMH�GHO�3,% \�R�HQ�WpUPLQRV�SHU�FiSLWD��3RU�VX�SDUWH��XQD�PD\RU�LQYHUVLyQ�HQ�HGXFDFLyQ�PHMRUD�HO�QLYHO�HGXFDWLYR�GH�OD�SREODFLyQ�HQ�JHQHUDO�� DXPHQWDQGR� OD�SURGXFWLYLGDG�GH� OD� IXHU]D�GH� WUDEDMR��(Q�HVSHFLDO��PHMRUD�HO�QLYHO�HGXFDWLYR�GH�ODV�PXMHUHV��GLVPLQX\HQGR�OD�WDVD�GH�IHFXQGLGDG�H�LQFUHPHQWDQGR�D�OD�YH]�HO�QLYHO�HGXFDWLYR�GH�ORV�KLMRV��

��� (O�FUHFLPLHQWR�HFRQyPLFR�GHEH�LU�DSDUHMDGR�GH�PD\RU�LJXDOGDG�GH��L�� �RSRUWXQLGDGHV�HFRQyPLFDV��FRPR�HO�DFFHVR�D�HPSOHRV��LQIRUPDFLyQ�\�WHFQRORJtD��DFFHVR�D�OD�WLHUUD�\�DO�FUpGLWR��DFFHVR�D�YLYLHQGD�DSURSLDGD��DJXD�SRWDEOH��HQVHxDQ]D�EiVLFD�\�VHUYLFLRV�GH�VDOXG��\�DFFHVR�D�LQIUDHVWUXFWXUDV�ItVLFDV�FRPR�EXHQDV�FDUUHWHUDV��UHGHV�GH�VXPLQLVWUR�GH HOHFWULFLGDG� \� FRPXQLFDFLRQHV� DGHFXDGDV�� �LL�� RSRUWXQLGDGHV� VRFLDOHV� \� SROtWLFDV�FRPR� OD� OLEHUWDG� GH� PRYLPLHQWR�� H[SUHVLyQ�� FUHHQFLD� FXOWXUDO� \� UHOLJLRVD�� OD�SDUWLFLSDFLyQ� VLQ� GLVFULPLQDFLyQ� HQ� ORV� SURFHVRV� SROtWLFRV� \� HQ� ODV� DFWLYLGDGHV� GH� OD�VRFLHGDG� FLYLO�� OD� DXVHQFLD� GH� H[SORWDFLyQ�� \�� OD� SRVLELOLGDG� GH� OOHYDU� XQD� YLGD� FRQ�DXWRGHWHUPLQDFLyQ� \� UHVSHFWR� SURSLR� HQ� WDQWR� PLHPEUR� GH� XQD� FRPXQLGDG� �318'��������

��� (O� FUHFLPLHQWR� HFRQyPLFR� SHUPLWH� UHGXFLU� OD� SREUH]D� HQ� OD� PHGLGD� HQ� TXH� JHQHUD�HPSOHRV�SURGXFWLYRV� \� DXPHQWD� ORV� LQJUHVRV� VDODULDOHV�GH� ORV� WUDEDMDGRUHV� FRQ�EDMRV�LQJUHVRV�� 6LQ� HPEDUJR�� XQ� FUHFLPLHQWR� HFRQyPLFR� GH� HVWH� WLSR�� TXH� VH� OR� SXHGH�FDOLILFDU� GH� FUHFLPLHQWR� HFRQyPLFR� VDQR�� QR� HV� VXILFLHQWH� SDUD� EHQHILFLDU� D� WRGD� OD�SREODFLyQ� SREUH�� VLHPSUH� H[LVWHQ� JUXSRV� GH� SREODFLyQ� TXH� TXHGDQ� DO�PDUJHQ� GH� ORV�EHQHILFLRV� GHO� FUHFLPLHQWR�� GH� WDO� IRUPD� TXH� HV� QHFHVDULR� VX� � FRPSOHPHQWDFLyQ� FRQ�SURJUDPDV�VRFLDOHV��(Q�VXPD��D~Q�HQ�HO�FDVR�GH�XQ�FUHFLPLHQWR�HFRQyPLFR�VDQR��pVWH�QR� HV� SHUIHFWDPHQWH� VXVWLWXWLYR� UHVSHFWR� GH� ORV� SURJUDPDV� VRFLDOHV� GH� FRPEDWH� D� OD�SREUH]D��%HUU\����������

��� /RV� PRGHORV� WHyULFRV� VLPSOHV� DUJXPHQWDQ� TXH� OD� OLEHUDOL]DFLyQ� FRPHUFLDO�LQFUHPHQWDUi� OD�GHPDQGD�GH�PDQR�GH�REUD� \�PHMRUDUi� OD�GLVWULEXFLyQ�GHO� LQJUHVR�HQ�DTXHOORV�SDtVHV�GRQGH�OD�PDQR�GH�REUD�HV�XQ�IDFWRU�DEXQGDQWH��(V�GHFLU��HQ�OD�PHGLGD�HQ� TXH� ODV� QXHYDV� H[SRUWDFLRQHV�� DJUtFRODV� \�R� PDQXIDFWXUHUDV�� VHDQ� LQWHQVLYDV� HQ�PDQR�GH�REUD��VH�DPSOLDUi�OD�GHPDQGD�GH�WUDEDMR��1R�REVWDQWH��H[LVWHQ�FRQVWDWDFLRQHV�HPStULFDV�TXH�FRQWUDGLFHQ�HVWH�DUJXPHQWR��3RU�HMHPSOR��HQ�DOJXQRV�SDtVHV�ODV�PLVPDV�HPSUHVDV�TXH�VH�EHQHILFLDEDQ�GHO�PRGHOR�SURWHFFLRQLVWD�KDQ�UHRULHQWDGR�VX�SURGXFFLyQ�DO�PHUFDGR�H[WHUQR��GHWHUPLQDQGR��SRU�WDQWR��LQFUHPHQWRV�PRGHVWRV�HQ�OD�GHPDQGD�GH�WUDEDMR�� 6H� REVHUYD� WDPELpQ� HQ� DOJXQRV�SDtVHV� GH�$PpULFD�/DWLQD� XQ� DXPHQWR� GH� OD�GHVLJXDOGDG� GHO� LQJUHVR� GXUDQWH� ORV� SURFHVRV� GH� OLEHUDOL]DFLyQ� FRPHUFLDO��SUREDEOHPHQWH� GHELGR� DO� LQFUHPHQWR� GH� OD� EUHFKD� GH� LQJUHVRV� HQWUH� ORV� WUDEDMDGRUHV�FDOLILFDGRV� \� QR� FDOLILFDGRV� �%HUU\�� ������� 3DUD� REVHUYDU ORV� HIHFWRV� GH� OD�

Page 11: Indicadores Economicos Del Ecuador - Medicion y Fundamento

OLEHUDOL]DFLyQ�FRPHUFLDO�HQ�OD�SREUH]D�\�OD�GLVWULEXFLyQ�GHO�LQJUHVR��HV�SUHFLVR�DQDOL]DU�HPStULFDPHQWH�OD�VLWXDFLyQ�GH�FDGD�SDtV���

��� (Q� PXFKRV� FDVRV�� ORV� SURFHVRV� GH� DSHUWXUD� FRPHUFLDO� KDQ� HVWDGR� DFRPSDxDGRV� GH�FDPELRV� WHFQROyJLFRV��TXH VL�ELHQ�JHQHUDQ�XQ�PD\RU�FUHFLPLHQWR�GH� OD�HFRQRPtD��HQ�WDQWR�VRQ�WHFQRORJtDV�LQWHQVLYDV�HQ�FDSLWDO��KDQ�WHQLGR�XQ�LPSDFWR�UHVWULQJLGR�VREUH�OD�GHPDQGD�GH�WUDEDMR��OD�SREUH]D�\�OD�GLVWULEXFLyQ�GHO�LQJUHVR��%HUU\���������

��� (O� GHWHUPLQDQWH� PiV� LPSRUWDQWH� GH OD� GHVLJXDOGDG� GHO� LQJUHVR�� HQ� HO� (FXDGRU� \� HQ�$PpULFD� /DWLQD�� HV� OD� GHVLJXDO� GLVWULEXFLyQ� GHO� FDSLWDO� KXPDQR�� HQ� HVSHFLDO� OD�HGXFDFLyQ�� OR� TXH� GHWHUPLQD� JUDQGHV� EUHFKDV� GH� LQJUHVRV� HQWUH� ORV� WUDEDMDGRUHV� FRQ�DOWRV�\�EDMRV�QLYHOHV�GH�HGXFDFLyQ��/H�FRUUHVSRQGH�D�OD�SROtWLFD�VRFLDO�LQFUHPHQWDU�HO�QLYHO�HGXFDWLYR�GH�ORV�VHJPHQWRV�PiV�SREUHV�GH�OD�VRFLHGDG��D�OD�YH]�TXH�VH�PHMRUD�OD�FDOLGDG� GH� OD� HGXFDFLyQ�� SRQLpQGROD� D� WRQR� FRQ� ORV� FDPELRV� WHFQROyJLFRV� \� FRQ� ORV�UHTXHULPLHQWRV�GH�ORV�VHFWRUHV�SURGXFWLYRV��

��� 0RUOH\� UHVXPH� OD� H[SHULHQFLD� GH� ODV� SROtWLFDV� GH� DMXVWH� HQ� ODV� VLJXLHQWHV� FXDWUR�SURSRVLFLRQHV���������

D�����(O�FUHFLPLHQWR�HFRQyPLFR�FRQVWLWX\H�XQD�IXHU]D�SRGHURVD�HQ�OD�UHGXFFLyQ�GH�OD�SREUH]D�

E�� � �/D�SREUH]D� VH�KD� UHGXFLGR� UiSLGDPHQWH�GXUDQWH� ORV�SHUtRGRV�GH� UHFXSHUDFLyQ�UHJLVWUDGRV�HQ�ORV�SURFHVRV�GH�DMXVWH�HVWUXFWXUDO�

F�� � /DV� UHFHVLRQHV� GHULYDGDV� GHO� DMXVWH� HVWUXFWXUDO� GLHURQ� FRPR� UHVXOWDGR� XQ�PDUFDGR�DXPHQWR�HQ�HO�QLYHO�GH�SREUH]D��

G�� � �(O�DMXVWH�HVWUXFWXUDO��GXUDQWH�ODV�UHFHVLRQHV��KD�VLGR�PiV�QRFLYR�SDUD�HO�VHFWRU�XUEDQR� TXH� SDUD� ORV� SREUHV� GHO� FDPSR�� ,JXDOPHQWH�� GXUDQWH� ORV� SHUtRGRV� GH�UHFXSHUDFLyQ��OD�GLVPLQXFLyQ�GH�OD�SREUH]D�UXUDO�KD�VLGR�JHQHUDOPHQWH�PD\RU�D�OD� GH� OD� SREUH]D� XUEDQD�� HQ� ORV� FDVRV� HQ� TXH� HO� VHFWRU� UXUDO� SURGXFH� ELHQHV�DJUtFRODV� WUDQVDEOHV�\�HO�VHFWRU�XUEDQR�HVSHFLDOPHQWH�ELHQHV�QR�WUDQVDEOHV��/D�GHSUHFLDFLyQ� GHO� WLSR� GH� FDPELR� UHDO� EHQHILFLDUtD� DO� VHFWRU� WUDQVDEOH� GH� OD�HFRQRPtD�D�FRVWD�GHO�VHFWRU�QR�WUDQVDEOH��

��� 3UHQXVKL��HW��DO��KDQ�SODQWHDGR�ORV�VLJXLHQWHV�SULQFLSDOHV�PHFDQLVPRV�GH�WUDQVPLVLyQ�GH�ODV� FULVLV� D� OD� SREODFLyQ�� � �D� &DPELRV� HQ� ORV� SUHFLRV� UHODWLYRV� HVWR� LPSOLFD�IXQGDPHQWDOPHQWH� OD� UHGXFFLyQ� GH� ORV� VDODULRV� H� LQJUHVRV� HQ� WpUPLQRV� UHDOHV� \� SRU�WDQWR�OD�GLVPLQXFLyQ�GHO�SRGHU�GH�FRPSUD��$�VX�YH]��OD�GLVPLQXFLyQ�GH�ORV�LQJUHVRV�GH�ORV� RFXSDGRV� HQ� HO� VHFWRU� IRUPDO� \� HO� LQFUHPHQWR� GHO� GHVHPSOHR� GHWHUPLQDQ� OD�UHGXFFLyQ�GH�OD�GHPDQGD�GH�ORV�ELHQHV�\�VHUYLFLRV�SURGXFLGRV�SRU�ORV�RFXSDGRV�HQ�HO�VHFWRU� LQIRUPDO�� OR� FXDO� LPSOLFD� XQD� UHGXFFLyQ� GH� VXV� LQJUHVRV���E� &DPELRV� HQ� ODGHPDQGD�ODERUDO� (VWH�PHFDQLVPR�VH�H[SUHVD�PHGLDQWH�HO�LQFUHPHQWR�GHO�GHVHPSOHR�\�HO�VXEHPSOHR��$�HVWR�VH�GHEH�DJUHJDU�TXH�VH�SURGXFH�WDPELpQ�XQD�SUHFDUL]DFLyQ�GH�ODV� FRQGLFLRQHV� GH� HPSOHR� SDUD� DTXHOORV� TXH� OR� FRQVHUYDQ� R� OR� FRQVLJXHQ�� \D� VHD�H[SUHVDGD� PHGLDQWH� OD� H[WHQVLyQ� GH� OD� MRUQDGD� ODERUDO�� YDFDFLRQHV� IRU]DGDV��FRQWUDWDFLyQ� VLQ� VHJXULGDG� VRFLDO�� UHWDUGR� HQ� HO� SDJR� GH� ORV� VDODULRV�� PD\RU�LQHVWDELOLGDG��QR�SDJR�SRU�ODV�KRUDV�H[WUDV��HWF����F� &DPELRV�HQ�ORV�UHQGLPLHQWRV�GH�ORV�DFWLYRV�ItVLFRV�\�HO�FDSL WDO��HQ�HVWH�FDVR��ORV�SREUHV�VRQ�SRVHHGRUHV�HVSHFLDOPHQWH�GH� GLQHUR� HQ� HIHFWLYR�� HO� FXDO� GXUDQWH� SHUtRGRV� LQIODFLRQDULRV� VH� YH� DIHFWDGR� HQ� VX�SRGHU� GH� FRPSUD�� /D� JHQWH� SREUH� WLHQH�PHQRV� FDSDFLGDG� GH� DMXVWDU� VX� SRUWDIROLR� GH�DFWLYRV� \� SUHVHUYDU� HO� YDORU� UHDO� GH� VX� ULTXH]D�� DIHFWDQGR�� SRU� WDQWR�� WDPELpQ� D� VX�

Page 12: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

FDSDFLGDG�GH�JHQHUDU� LQJUHVRV� HQ� HO� IXWXUR���G� 'LVPLQXFLyQ�GHO�JDVWR�S~EOLFR� ORV�UHFRUWHV�GHO�JDVWR�S~EOLFR��QRPLQDOHV�R�UHDOHV��GLVPLQX\HQ�R�DIHFWDQ�OD�SUHVWDFLyQ�GH�VHUYLFLRV�VRFLDOHV�SRU�SDUWH�GHO�(VWDGR��(VWRV�UHFRUWHV�DIHFWDQ�HQ�PD\RU�SURSRUFLyQ�D�OD�SREODFLyQ� SREUH� TXH� HV� OD� TXH� XVD� FRQ� PiV� LQWHQVLGDG� ORV� VHUYLFLRV� HVWDWDOHV�� /D�UHVWULFFLyQ� GHO� JDVWR� R� OD� IDOWD� GH� OLTXLGH]� HQ� HO� SUHVXSXHVWR� GHO� (VWDGR� SURYRFD� OD�SDUDOL]DFLyQ�GH�ORV�VHUYLFLRV�SRU�HO�UHWUDVR�HQ�HO�SDJR�GH�ODV�UHPXQHUDFLRQHV�D�PDHVWURV�\� WUDEDMDGRUHV� GH� OD� VDOXG� \� JHQHUD� FRQVHFXHQWHPHQWH� XQ� LQFUHPHQWR� GH� OD�FRQIOLFWLYLGDG�ODERUDO���H� (IHFWRV�VREUH�HO�HQWRUQR�FRPXQLWDULR� ORV�OD]RV�IDPLOLDUHV�R� FRPXQLWDULRV� SXHGHQ� VHU� DIHFWDGRV� SRU� OD FULVLV�� 7DPELpQ� SRU� HO� LQFUHPHQWR� GH� OD�SREUH]D� SXHGHQ� DXPHQWDU� OD� YLROHQFLD� GRPpVWLFD� \� VRFLDO�� $GHPiV�� ORV� UHFRUWHV� GHO�JDVWR� VRFLDO� SXHGHQ� JHQHUDU� XQ� GHWHULRUR� VLJQLILFDWLYR� GH� OD� VDOXG� S~EOLFD�� 6H�LQFUHPHQWD� OD� LOHJDOLGDG� HQ� OD� YLGD� FRWLGLDQD�� KD\� PD\RU� SUHVHQFLD� GH� SDQGLOODV��DOFRKROLVPR� \� GURJDGLFFLyQ�� PiV� DVDOWRV�� 6H� JHQHUD� WDPELpQ� DQRPLD� VRFLDO� \�GLIHUHQFLDFLyQ�VRFLDO�DO�LQWHULRU�GH�ORV�EDUULRV�FRQ�OD�FRQVLJXLHQWH�HVWLJPDWL]DFLyQ�D�ORV�PiV�SREUHV��&(3/$(6��,QIRUPH�)LQDO��������

��� /RV�KRJDUHV�DIHFWDGRV�SRU�OD�FULVLV�YHQ�HPSHRUDU�VXV�FRQGLFLRQHV�GH�YLGD��IUHQWH�D�OR�FXDO�UHDOL]DQ�XQ�FRQMXQWR�GH�DMXVWHV�\�HVWUDWHJLDV�SDUD�DGDSWDUVH�D�OD�QXHYD�VLWXDFLyQ��(VWDV� HVWUDWHJLDV� VH� H[SUHVDQ� HQ� GLYHUVRV� iPELWRV�� WDOHV� FRPR� OD� DOLPHQWDFLyQ�� OD�HGXFDFLyQ��OD�VDOXG��HO�HPSOHR��(QWUH�pVWDV�VH�GHVWDFDQ�ODV�VLJXLHQWHV���D� &DPELRV�HQ�ORV�SDWURQHV�GH�FRQVXPR� HQ�HVSHFLDO��SXHGHQ�GLVPLQXLU� OD�FDQWLGDG�\�FDOLGDG�GH� OD�DOLPHQWDFLyQ�� �E� 'HVHUFLyQ� HVFRODU� HQ� DOJXQRV� FDVRV�� OD� GHVHUFLyQ� HVFRODU� YD�DSDUHMDGD�GHO� LQFUHPHQWR�GHO� WUDEDMR� LQIDQWLO��$OJXQRV�KRJDUHV�GHFLGHQ�DOWHUQDU�HQWUH�ORV�KLMRV�HO�DFFHVR�D�OD�HGXFDFLyQ��XQ�DxR�YD�XQR��HO�VLJXLHQWH�DxR�HO�RWUR��R�VH�DOWHUQDQ�XQD� VHPDQD� YD� XQR� \� OD� VLJXLHQWH� RWUR��2WURV� KRJDUHV� SXHGHQ� GHFLGLU� FDPELDU� D� VXV�KLMRV�D�HVFXHODV�PiV�EDUDWDV���F� ,QFUHPHQWR�GH�OD�SDUWLFLSDFLyQ�ODERUDO�IHPHQLQD�/DV�PDGUHV�VH�LQFRUSRUDQ�DO�VHFWRU�IRUPDO�R�LQIRUPDO�\�VH�FRQYLHUWHQ�HQ�PXFKRV�FDVRV�HQ� OD� ~QLFD� IXHQWH� GH� LQJUHVR� GHO� KRJDU���G� $XPHQWR� GH� OD� MRUQDGD� ODERUDO� \�R�UHDOL]DFLyQ�GH�DFWLYLGDGHV�FRPSO HPHQWDULDV��FRQ�OD�ILQDOLGDG�GH�REWHQHU�ORV�LQJUHVRV�QHFHVDULRV� SRU� HO� KRJDU�� VXV� PLHPEURV� VH� YHQ� REOLJDGRV� D� WUDEDMDU� PiV� KRUDV� \�R�UHDOL]DU� ODERUHV� DGLFLRQDOHV�� �H� 0LJUDFLyQ�� (Q� OD� DFWXDOLGDG�� SRU� OD� FULVLV�� VH� KD�HVWLPXODGR� OD� VDOLGD� GH� HFXDWRULDQRV� DO H[WUDQMHUR� R� H[LVWH� XQD� JUDQ� H[SHFWDWLYD� SRU�WRPDU�HVWD�GHFLVLyQ��(Q�DOJXQRV�FDVRV��GHELGR�D� OD�UHGXFFLyQ�GH�RSRUWXQLGDGHV�HQ�ODV�FLXGDGHV�� YDULDV� SHUVRQDV� UHJUHVDQ� DO� FDPSR���I� 'HVDFXPXODFLyQ� GH� DKRUURV� /DV�IDPLOLDV� TXH� WLHQHQ� DKRUURV� ORV� GHVDFXPXODQ� SDUD� FXEULU� VXV� JDVWRV� QRUPDOHV�� �J�9HQWD� GH� DFWLYRV� \� ELHQHV� GXUDEOHV� DOJXQRV� KRJDUHV� YHQGHQ� VXV� DFWLYRV� \� ELHQHV�GXUDEOHV��LQFOXVR�ELHQHV�GH�FDSLWDO��OR�FXDO�SHUMXGLFD�OD�FDSDFLGDG�IXWXUD�GH�JHQHUDFLyQ�GH� LQJUHVRV�� 7DPELpQ� VH� HQGHXGDQ�� HVSHFLDOPHQWH� FRQ DPLJRV� \� IDPLOLDUHV�� \�SRVWHUJDQ� ORV� SDJRV� GH� VXV� GHXGDV� FRPR� HO� DUULHQGR� R� ODV� FXHQWDV� HQ� OD� WLHQGD���K�3RVWHUJDFLyQ� GH� WUDWDPLHQWRV� PpGLFRV� 3RVWHUJDQ� WUDWDPLHQWRV� PpGLFRV�� GHMDQ� GH�DVLVWLU� D� FRQVXOWDV� FRQ� SURIHVLRQDOHV�� UHGXFHQ� OD� GXUDFLyQ� R� OD� LQWHQVLGDG� GHO�WUDWDPLHQWR�\�DFXGHQ�D�FXUDQGHURV�R�VH�DXWRPHGLFDQ��2WURV�RSWDQ�SRU�UHGXFLU�ODV�GRVLV�PpGLFDV� UHFRPHQGDGDV� GHELGR� D� OD� FDUHQFLD� GH� UHFXUVRV�� �L� &DPELRV� HQ� ODV�GHFLVLRQHV� GH� SURGXFFLyQ� /RV� FDPSHVLQRV� GHFLGHQ� SURGXFLU� DTXHOORV� SURGXFWRV�PHQRV�LQWHQVLYRV�HQ�LQVXPRV�\�IHUWLOL]DQWHV��UHGXFLHQGR�SRU�WDQWR�OD�GLYHUVLGDG�GH�VX�SURGXFFLyQ��OR�FXDO�D�VX�YH]�SXHGH�DIHFWDU�OD�ULTXH]D�QXWULFLRQDO�GH�ODV�GLHWDV��(Q�RWURV�FDVRV��QR�XWLOL]DQ�ORV�IHUWLOL]DQWHV��DERQRV�\�SODJXLFLGDV�HQ�ODV�FDQWLGDGHV�WpFQLFDPHQWH�QHFHVDULDV��DIHFWDQGR�OD�SURGXFWLYLGDG�GH�VXV�FXOWLYRV��5HGXFHQ�WDPELpQ�OD�H[WHQVLyQ�GH� ORV�FXOWLYRV�SRU� IDOWD�GH�GLQHUR�SDUD� LQVXPRV���M� 6H�HVWLPXODQ�ODV�WUDQVDFFLRQHV�LOHJDOHV�� VH� JHQHUD� DSURSLDFLyQ� LOHJDO� GH� HQHUJtD� HOpFWULFD�� ³DUUHJOR´� GH� PHGLGRUHV��

Page 13: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

URER� GH� URSD� \� DOLPHQWRV���N� 6H� HVWLPXODQ� ODV� UHGHV� GH� VROLGDULGDG� IDPLOLDUHV� \�FRPXQLWDULDV� UHFLEHQ�D� IDPLOLDUHV�� OHV� D\XGDQ�D� FRQVHJXLU� WUDEDMR�� HQWUH�YHFLQRV� VH�UHJDODQ�FRPLGD�D�YHFHV��/HyQ�\�7UR\D��������

��� $�SHVDU�GH�TXH�VH�KD�DYDQ]DGR�VLJQLILFDWLYDPHQWH�HQ�OD�FRPSUHQVLyQ�FRQFHSWXDO�GH�ORV�YtQFXORV�HQWUH�HVWDELOL]DFLyQ��DMXVWH��FUHFLPLHQWR�H�LPSDFWRV�VRFLDOHV��OD�H[SHULHQFLD�GH�FDGD� SDtV� WLHQH� VXV� SDUWLFXODULGDGHV�� SRU� OR� TXH� VH� UHTXLHUH� GH� XQ� DQiOLVLV�SRUPHQRUL]DGR�GH�FDGD�VLWXDFLyQ�D�ILQ�GH�GHWHUPLQDU�ORV�HIHFWRV�VRFLDOHV�QHWRV�GH�HVWDV�SROtWLFDV��

%LEOLRJUDItD%(55<��$OEHUW��³(O�FRQWH[WR�PDFURHFRQyPLFR�GH�ODV�SROtWLFDV��SUR\HFWRV�\�SURJUDPDV�

SDUD� SURPRYHU� HO� GHVDUUROOR� VRFLDO� \� FRPEDWLU� OD� SREUH]D� HQ� $PpULFD� /DWLQD� \� HO�&DULEH´�� (1�� (VWUDWHJLDV� SDUD� UHGXFLU� OD� SREUH]D� HQ�$PpULFD� /DWLQD� \� HO�&DULEH��4XLWR��318'�������

&$5'262��(OLDQD��³/D�PDFURHFRQRPtD�GH�OD�SREUH]D�HQ�$PpULFD�/DWLQD´��(1��%,'��3ROtWLFDV�GH�DMXVWH�\�SREUH]D��:DVKLQJWRQ��'�&���%,'�������

&(3/$(6��,QIRUPHV�GHO�HVWXGLR�FXDOLWDWLYR�GHO�LPSDFWR�VRFLDO�GH�OD�FULVLV�HQ�EDUULRV�\�FRPXQLGDGHV�SREUHV�GHO�(FXDGRU��4XLWR�(FXDGRU��������

+25721�6XVDQ��.$1%85��5DYL�\�0$=80%$5��'LSDN��³/DERU�0DUNHWV�LQ�DQ�(UD�RI� $GMXVWPHQW�� DQ� 2YHUYLHZ´�� (1�� /DERU� 0DUNHWV� LQ� DQ� (UD� RI� $GMXVWPHQW��:DVKLQJWRQ� '�&���:RUOG�%DQN�������

/(21��0DXULFLR�\�752<$�3LODU��0HFDQLVPRV�GH�WUDQVPLVLyQ�GH�OD�FULVLV�\�HVWUDWHJLDV�GH�DMXVWH�GH�ORV�KRJDUHV�SREUHV�GHO�(FXDGRU��4XLWR�(FXDGRU��6('(+�6,,6(�������

025/(<�� 6DPXHO�� ³0DFURFRQGLFLRQHV� \� SREUH]D� HQ� $PpULFD� /DWLQD´�� (1�� %,'��3ROtWLFDV�GH�DMXVWH�\�SREUH]D��:DVKLQJWRQ��'�&���%,'�������

318'�� ,QIRUPH� VREUH� GHVDUUROOR� KXPDQR� ������ 0DGULG�� (GLFLRQHV� 0XQGL� 3UHQVD��������

35(1186+,�� *LRYDQQD�� )(55(5,5$� )UDQFLVFR� \� 5$9$//,21� 0DUWLQ��0DFURHFRQRPLF� &ULVHV� DQG� 3RYHUW\�� 7UDQVPLVVLRQ� 0HFKDQLVPV� DQG� 3ROLF\�5HVSRQVHV��:RUOG�%DQN�:RUNLQJ�3DSHU��KWWS���ZZZ�ZRUOGEDQN�RUJ�SRYHUW\�

6(1�� $PDUW\D�� ³5HIOH[LRQHV� DFHUFD� GHO� GHVDUUROOR� D� FRPLHQ]RV� GHO� 6LJOR� ;;,´���3RQHQFLD� SUHVHQWDGD� D� OD� ³'HYHORSPHQW� WKLQNLQJ� DQG� SUDFWLFH� FRQIHUHQFH´�� %,'��:DVKLQJWRQ�'�&���������

Page 14: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

,,����,1',&$'25(6

����68%6(&725�352'8&&,21

����7DPDxR�GH�OD�HFRQRPtD6HFWRU

(FRQRPtD6XEVHFWRU

3URGXFFLyQ)XQGDPHQWR

(O�WDPDxR�GH�OD�HFRQRPtD�VH�UHILHUH�D�OD�PDJQLWXG�GH�OD�DFWLYLGDG�HFRQyPLFD�GH�XQ�SDtV��HV�GHFLU��GH�VX� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�� 6H� PLGH� D� WUDYpV� GHO�SURGXFWR� LQWHUQR� EUXWR R�3,%�� 3XHGH�H[SUHVDUVH�HQ�WpUPLQRV�QRPLQDOHV�R�UHDOHV�

(O� 3,%� HV� HO� YDORU� WRWDO� GH� OD� SURGXFFLyQ� FRUULHQWH� GH� ELHQHV� \� VHUYLFLRV� ILQDOHV� GHQWUR� GHO�WHUULWRULR� QDFLRQDO� GXUDQWH� XQ� GHWHUPLQDGR� SHUtRGR�� SRU� OR� JHQHUDO� XQ� DxR�� (O� WpUPLQR� ³SURGXFFLyQ�FRUULHQWH´�VLJQLILFD�TXH�VH�FRQVLGHUDQ�VRODPHQWH�ORV�ELHQHV�\�VHUYLFLRV�SURGXFLGRV�GXUDQWH�HO�SHUtRGR�HQ�UHIHUHQFLD�\�QR��SRU�HMHPSOR��OD�UHYHQWD�GH�ELHQHV�SURGXFLGRV�HQ�HO�SHUtRGR�R�SHUtRGRV�DQWHULRUHV��(O�WpUPLQR� ³ELHQHV� ILQDOHV´� VLJQLILFD� TXH� QR� VH� FXHQWD� HO� YDORU� GH� ODV� PDWHULDV� SULPDV� \� ELHQHV�LQWHUPHGLRV�TXH�VH�XWLOL]DQ�FRPR�LQVXPRV�SDUD�OD�SURGXFFLyQ�GH�RWURV�ELHQHV��(O�WpUPLQR�³LQWHUQR´�VH�UHILHUH� D� TXH� HO� 3,%� PLGH� ~QLFDPHQWH� OD� SURGXFFLyQ� UHDOL]DGD� GHQWUR� GHO� WHUULWRULR� QDFLRQDO��LQGLIHUHQWHPHQWH� GH� VL� ORV� LQJUHVRV� GH� HVWD� SURGXFFLyQ� FRUUHVSRQGHQ� D� UHVLGHQWHV� QDFLRQDOHV� R�H[WUDQMHURV��(O� WpUPLQR� ³EUXWR�� LPSOLFD� TXH� HO�3,%� LQFOX\H� DTXHOOD� SDUWH� GHOD� SURGXFFLyQ� FRUULHQWH�GHVWLQDGD�D�FRPSHQVDU�OD�GHSUHFLDFLyQ�GHO�VWRFN�GH�FDSLWDO��

(O� 3,%� QRPLQDO PLGH� HO� YDORU� WRWDO� GH� OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV� ILQDOHV� HQ� XQ�SHUtRGR� GDGR�� XWLOL]DQGR� ORV� SUHFLRV� YLJHQWHV� HQ� HO� SHUtRGR� HQ� TXH� pVWD� VH� JHQHUD�� (O� WpUPLQR�³QRPLQDO´�VLJQLILFD�TXH�HO�3,%�HVWi�H[SUHVDGR�D�SUHFLRV�FRUULHQWHV��HV�GHFLU��SDUD�VX�FiOFXOR�VH�XWLOL]DQ�ORV�SUHFLRV�YLJHQWHV�HQ�HO�PLVPR�SHUtRGR�HQ�TXH�VH�JHQHUD�OD�SURGXFFLyQ��

8Q�DXPHQWR�HQ�HO�3,%�QRPLQDO�SXHGH�VLJQLILFDU�TXH�VH�KD�SURGXFLGR�PiV�HQ�OD�HFRQRPtD��TXH�KDQ�VXELGR�ORV�SUHFLRV�R�DPEDV�FRVDV��(V�XQ�LQGLFDGRU�GHO�QLYHO�GH�DFWLYLGDG�HFRQyPLFD�R�GHO�WDPDxR�GH�OD�HFRQRPtD��3RU�HMHPSOR��HQ�������HO�3,%�GHO�(FXDGRU�IXH�GH������PLOHV�GH�PLOORQHV�GH�GyODUHV��PLHQWUDV�TXH�HO�GH�&KLOH�IXH�GH�������HO�GH�0p[LFR���������\�HO�GH�%UDVLO�������PLOHV�GH�PLOORQHV�GH�GyODUHV�

(O�3,%�QRPLQDO�VH�XWLOL]D�WDPELpQ�FRPR�GHQRPLQDGRU�SDUD�OD�GHILQLFLyQ�GH�RWURV�LQGLFDGRUHV��FRPR� SRU� HMHPSOR�� ORV� LQJUHVRV� SHWUROHURV� FRPR� SRUFHQWDMH� GHO� 3,%�� TXH� VHUtD� XQD� PHGLGD� GH� OD�PDJQLWXG�GH�ORV�LQJUHVRV�SHWUROHURV�HQ�UHODFLyQ�DO�WDPDxR�GH�OD�HFRQRPtD��3RU�HMHPSOR��HQ�HO�(FXDGRU�HQWUH������\�������ORV�LQJUHVRV�SHWUROHURV�GHO�*RELHUQR�&HQWUDO�DXPHQWDURQ��HQ�WpUPLQRV�DEVROXWRV��GH�������D�������PLOHV�GH�PLOORQHV�GH�VXFUHV��OR�TXH�DSDUHQWHPHQWH�LPSOLFD�XQ�LQFUHPHQWR�FRQVLGHUDEOH��QR�REVWDQWH��DO�UHODFLRQDU�HVWRV�LQJUHVRV�FRQ�HO�WDPDxR�GH�OD�HFRQRPtD�VH�HYLGHQFLD�XQD�GLVPLQXFLyQ�GHO������GHO�3,%�HQ������D������GHO�3,%�HQ�������OR�TXH�VLJQLILFD�TXH�HO�FUHFLPLHQWR�GH�OD�HFRQRPtD\�GH�ORV�SUHFLRV�IXH�VXSHULRU�DO�FUHFLPLHQWR�GH�ORV�LQJUHVRV�SHWUROHURV���

/DV� YDULDEOHV� HFRQyPLFDV� H[SUHVDGDV� FRPR� SRUFHQWDMH� GHO� 3,%� VLUYHQ� WDPELpQ� SDUD� UHDOL]DU�FRPSDUDFLRQHV� FRQ� RWURV� SDtVHV� HQ� XQ� SXQWR� GHO� WLHPSR�� \D� TXH� HVWRV� FRHILFLHQWHV� UHODFLRQDQOD�PDJQLWXG�GH�OD�YDULDEOH�FRQ�HO�WDPDxR�GH�OD�HFRQRPtD��1R�WHQGUtD�VHQWLGR�FRPSDUDU�ODV�YDULDEOHV�HQ�VXV� YDORUHV� DEVROXWRV�� 3RU� HMHPSOR�� OD� LQYHUVLyQ� LQWHUQD� EUXWD� FRPR� SRUFHQWDMH� GHO� 3,%�� D� SUHFLRV�FRUULHQWHV�� IXH� GH� ������ HQ� ����� HQ� HO� (FXDGRU�� HQ� WDQWR� TXH� HQ�&KLOH� DOFDQ]y� ������� HQ�0p[LFR�������\�HQ�%UDVLO�������

(O� 3,%� UHDO PLGH� HO� YDORU� GH� OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV� ILQDOHV� REWHQLGD� HQ� XQ�GHWHUPLQDGR�SHUtRGR�XWLOL]DQGR� ORV�SUHFLRV�GH�XQ�DxR� ILMR�� FRQRFLGR�FRPR�DxR�EDVH��(Q� HO� FDVR�GHO�(FXDGRU�HO�DxR�EDVH�DFWXDOPHQWH�HV�������6H�OH�FRQRFH�WDPELpQ�FRPR�3,%�D�SUHFLRV�FRQVWDQWHV��

(O�WpUPLQR�³UHDO´ LPSOLFD�TXH�HV�XQ�LQGLFDGRU�GHO�QLYHO�DJUHJDGR�GH�OD�SURGXFFLyQ�ItVLFD�WRWDO�GH� ELHQHV� \� VHUYLFLRV� GH� OD� HFRQRPtD�� 8Q� DXPHQWR� HQ� HO� 3,%� UHDO� VLJQLILFD� TXH� KD� DXPHQWDGR� OD�SURGXFFLyQ�GH�ELHQHV�\�VHUYLFLRV�HQ�OD�HFRQRPtD��(VWH�LQGLFDGRU�GHVFXHQWD�HO�HIHFWR�GH�OD�LQIODFLyQ�\�VH�UHILHUH�~QLFDPHQWH�D�ODV�FDQWLGDGHV�ItVLFDV�GH�SURGXFFLyQ��SRU�OR�TXH�GD�XQD�PHMRU�LGHD�TXH�HO�3,%�QRPLQDO�GHO�QLYHO�GH�SURGXFFLyQ�R�GH�DFWLYLGDG�GH�OD�HFRQRPtD�

Page 15: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

(O�3,%�SHU�FiSLWD�R SRU�SHUVRQD�VH�GHILQH�FRPR�XQ�LQGLFDGRU�GH�DFWLYLGDG�HFRQyPLFD�PHGLD��6H�GLYLGH�HO�3,%�SDUD�OD�SREODFLyQ�D�ILQ�GH�IDFLOLWDU�OD�FRPSDUDFLyQ�GHO�QLYHO�GH�DFWLYLGDG�HFRQyPLFD�HQWUH�GRV�SXQWRV�GHO�WLHPSR�HQ�XQ�SDtV�R�HQ�XQ�PLVPR�SXQWR�GHO�WLHPSR�HQWUH�GRV�SDtVHV��GHELGR�D�TXH�HQ�DPERV�WLSRV�GH�DQiOLVLV�VH�FRPSDUD�OD�SURGXFFLyQ�HQWUH�DxRV�R�SDtVHV�HQ�ORV�TXH�H[LVWtDQ�GLIHUHQWHV�WDPDxRV�SREODFLRQDOHV�\�GH�UHFXUVRV�GLVSRQLEOHV�SDUD�HO�SURFHVR�SURGXFWLYR��8Q�DXPHQWR�GHO�3,%�SHU�FiSLWD�LPSOLFD�TXH�HO�YDORU�GH�OD�SURGXFFLyQ�WRWDO�HVWi�FUHFLHQGR�PiV�UiSLGR�TXH�OD�SREODFLyQ��

3DUD� UHDOL]DU� FRPSDUDFLRQHV� HQWUH� SDtVHV�� ORV� RUJDQLVPRV� LQWHUQDFLRQDOHV� XWLOL]DQ� DO� 3,%� SHU�FiSLWD�FRPR�PHGLGD�GHO�GHVDUUROOR�HFRQyPLFR�GH�XQ�SDtV��DVXPLHQGR�TXH�ORV�SDtVHV�FRQ�DOWR�3,%�SHU�FiSLWD� WLHQHQ�XQ�PD\RU�QLYHO�GH�ELHQHVWDU�HFRQyPLFR�TXH� ORV�SDtVHV�FRQ�XQ�EDMR�3,%�SHU�FiSLWD��1R�REVWDQWH�� HVWH� LQGLFDGRU� WLHQH� OLPLWDFLRQHV� FRPR�PHGLGD� GHO� ELHQHVWDU� HFRQyPLFR� GHELGR� D� TXH� QR�FRQVLGHUD�ODV�GLIHUHQFLDV�HQ�OD�GLVWULEXFLyQ�GHO�LQJUHVR�HQ�XQ�SDtV��(Q�HVH�VHQWLGR��HO�3,%�SHU�FiSLWD�HV�XQD�PHGLGD�DSUR[LPDGD�GHO�LQJUHVR�PHGLR�HQ�OD�HFRQRPtD�SHUR�QR�GLFH�QDGD�DFHUFD�GHO�GHVWLQR�GH�ORV�LQJUHVRV�JHQHUDGRV�HQ�HO�SURFHVR�SURGXFWLYR��ORV�TXH�SRGUtDQ�R�QR�HVWDU�FRQFHQWUDGRV�HQ�XQD�SHTXHxD�SDUWH�GH�OD�SREODFLyQ���

'HILQLFLyQ(Q�HO�(FXDGRU�HO�3,%�HV�FDOFXODGR�SRU�HO�%DQFR�&HQWUDO�GH�FRQIRUPLGDG�D�OD�PHWRGRORJtD�GH�

FXHQWDV�QDFLRQDOHV�GH�ODV�1DFLRQHV�8QLGDV��(O�3,%�SHU�FiSLWD VH�FDOFXOD�GH�OD�VLJXLHQWH�PDQHUD�3,%SF 3,%

37

GRQGH�3,%SF �� 3,%�SHU�FiSLWD3,% � SURGXFWR�LQWHUQR�EUXWR��WpUPLQRV�QRPLQDOHV�R�UHDOHV�37 �� SREODFLyQ�WRWDO�GHO�SDtV��

0HGLGD3,%�QRPLQDO��� PLOHV�GH�PLOORQHV�GH�VXFUHV�FRUULHQWHV�

PLOORQHV�GH�GyODUHV�FRUULHQWHV3,%�UHDO������� PLOHV�GH�PLOORQHV�GH�VXFUHV�GH�����3,%�SHU�FiSLWD�� PLOHV�GH�VXFUHV�SRU�KDELWDQWH

PLOHV�GH�VXFUHV�GH������SRU�KDELWDQWHGyODUHV�SRU�KDELWDQWH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV��%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO�

6HULHV�FURQROyJLFDV�GLVSRQLEOHV������ ������TXLQTXHQDO������� ������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV/RV�GDWRV�RILFLDOHV�H[LVWHQ�D�SDUWLU�GH�������/D�VHULH�SUHVHQWDGD�VH�UHILHUH�D�SHUtRGRV�TXLQTXHQDOHV�GH������D������\�DQXDOHV�GHVGH�������/RV�GDWRV�DQWHULRUHV�D������VRQ�GH�FDUiFWHU�GHILQLWLYR��ORV�GH�������VHPLGHILQLWLYR��\�ORV�GH������������SURYLVLRQDO��6L�ELHQ�ORV�GDWRV�VRQ�FRPSDUDEOHV��GHEH�REVHUYDUVH�TXH�OD�SURGXFFLyQ�GH�ELHQHV�\�VHUYLFLRV�PHGLGD�SRU�HO�3,%�YDUtD�GH�XQ�DxR�D�RWUR�SXHVWR�TXH�VH�SURGXFHQ�QXHYRV�ELHQHV�\�RWURV�GHVDSDUHFHQ�R�FDPELDQ�GH�FDOLGDG��SRU�OR�TXH�QR�VH�HVWDUtD�FRPSDUDQGR�OD�SURGXFFLyQ�GH�ORV�PLVPRV�ELHQHV�\�VHUYLFLRV��HVSHFLDOPHQWH�FXDQGR�VH�DQDOL]DQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR��

2EVHUYDFLRQHV�(O� 3,%� GHSHQGH� GH� ORV� SUHFLRV� GH� PHUFDGR� GH� ORV� SURGXFWRV�� HQ� FRQVHFXHQFLD�� QR� FRQVLGHUD� ODV�WUDQVDFFLRQHV� TXH� VH� UHDOL]DQ� IXHUD� GH� OD� HFRQRPtD� PRQHWDULD�� FRPR� HO� WUDEDMR� HQ� HO� KRJDU�� ORV�LQWHUFDPELRV� PHGLDQWH� WUXHTXH� \� OD� SURGXFFLyQ� GH� DXWRFRQVXPR�� (V� GHFLU�� OD� PHGLGD� VXEHVWLPD� HO�WDPDxR�UHDO�GH�OD�HFRQRPtD��

3RU�RWUR� ODGR��HO�3,%�QR�FRQVLGHUD� ORV�FRVWRV�VRFLDOHV�GH� OD�FRQWDPLQDFLyQ�SURYRFDGRV�SRU� OD�DFWLYLGDG� HFRQyPLFD�� VREUHVWLPDQGR� SRU� WDQWR� HVWD� PHGLGD�� 7DPSRFR� PLGH� ORV� ELHQHV� \� VHUYLFLRV�JHQHUDGRV�SRU�OD�GHQRPLQDGD�³HFRQRPtD�VXEWHUUiQHD´�R�³LQIRUPDO´��GHELGR�D�IDOWD�GH�GHFODUDFLyQ�\�R�VXEGHFODUDFLyQ��

Page 16: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

(O� 3,%� UHDO�� DO� XWLOL]DU� SDUD� VX� FiOFXOR� ORV� SUHFLRV� GH� ORV� SURGXFWRV� HQ� XQ� DxR� EDVH�� WLHQH� HO�SUREOHPD�GH�TXH�ORV�ELHQHV�FDPELDQ�GH�FDOLGDG�HQ�HO� WLHPSR��GHVDSDUHFHQ�R�VH�FUHDQ�QXHYRV��SRU�OR�TXH�QR�VHUtD�HO�PLVPR�SURGXFWR�HO�TXH�VH�HVWi�FRPSDUDQGR�HQ�GRV�SXQWRV�GHO�WLHPSR��

3DUD�HO�FiOFXOR�GHO�3,%�SHU�FiSLWD�VH�XWLOL]DQ�ODV�FLIUDV�GH�SREODFLyQ�RILFLDOHV�GHO�SDtV��EDVDGDV�HQ� ODV� HVWLPDFLRQHV� \� SUR\HFFLRQHV� GH� SREODFLyQ� HODERUDGDV� SRU� HO� &21$'(�� ,1(&�� &(/$'(� \�81)3$�HQ�PDU]R�GH�������(VWDV�HVWLPDFLRQHV�VREUHVWLPDQ�OD�SREODFLyQ�GHO�(FXDGRU��VXEHVWLPiQGRVH��SRU� WDQWR�� HO� 3,%� SHU� FiSLWD�� 6LQ� HPEDUJR�� HQ� HO� 6,,6(� VH� LQFOX\HQ� HVWDV� FLIUDV� D� ILQ� GH� JXDUGDU�FRQVLVWHQFLD�FRQ�ODV�FLIUDV�HFRQyPLFDV�RILFLDOHV�GHO�%&(�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO�4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU�4XLWR��%&(��YDULRV�Q~PHURV�%$1&2�081',$/� ,QIRUPH�VREUH�HO�GHVDUUROOR�PXQGLDO������:DVKLQJWRQ�'�&���7KH�:RUOG�%DQN��

������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((�� 5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ��0DGULG��0F*UDZ�

+LOO�������/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�

(GLWRUHV�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH� 0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������:25/'�%$1.��7UHQGV�LQ�'HYHORSLQJ�(FRQRPLHV�������:DVKLQJWRQ��'�&���7KH�:RUOG�%DQN�������

Page 17: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�352'8&&,21

7DPDxR�GH�OD�(FRQRPtD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����3URGXFWR�,QWHUQR�%UXWR��3,%�0LOHV�GH�0LOORQHV�GH�6XFUHV ���� ���� ����� ����� ������ ������� �������� �������� �������� �������� �������� �������� �������� ���������0LOHV�GH�0LOORQHV�GH�6XFUHV�GH����� ���� ���� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����0LOORQHV�GH�'yODUHV ����� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������ ������ ������ ������3,%�SHU�FiSLWD0LOHV�GH�6XFUHV�SRU�KDELWDQWH ��� ��� ���� ���� ����� ����� ������� ������� ������� ������� ������� ������� ������� �������0LOHV�GH�6XFUHV�GH������SRU�KDELWDQWH ��� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����'yODUHV�SRU�KDELWDQWH ��� ��� ��� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

3,%�SHU�FiSLWD��VXFUHV�GH������

��

��

��

��

��

��

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

Page 18: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����&UHFLPLHQWR�HFRQyPLFR

6HFWRU(FRQRPtD

6XEVHFWRU3URGXFFLyQ

)XQGDPHQWR5HSUHVHQWD�HO�DXPHQWR�HQ�HO�QLYHO�GH�SURGXFFLyQ�GH�ELHQHV�\�VHUYLFLRV�GH�XQD�HFRQRPtD�HQ�

XQ�SHUtRGR�GH� WLHPSR�GDGR��6H�PLGH�PHGLDQWH� GRV� LQGLFDGRUHV�� OD� WDVD�GH� FUHFLPLHQWR�GHO�3,%UHDO \�OD�WDVD�GH�FUHFLPLHQWR�GHO�3,% UHDO�SHU�FiSLWD�8Q� DXPHQWR� GHO� 3,%� UHDO� LQGLFD� TXH� KD� DXPHQWDGR� OD� SURGXFFLyQ� WRWDO� \� TXH�� SRU� WDQWR�� HVWiQ�SURGXFLpQGRVH�PiV�ELHQHV�\�VHUYLFLRV�ILQDOHV�HQ�OD�HFRQRPtD��

(O�3,%�UHDO�SHU�FiSLWD�LQGLFD�HO�QLYHO�GH�SURGXFFLyQ�SURPHGLR�SRU�SHUVRQD��8Q�DXPHQWR�GH�HVWH�LQGLFDGRU�LPSOLFD�TXH�OD�SURGXFFLyQ�WRWDO�HVWi�FUHFLHQGR�PiV�UiSLGR�TXH�OD�SREODFLyQ��OR�TXH�SHUPLWLUtD��HQ�SULQFLSLR��PHMRUDU�HO�QLYHO�PHGLR�GH�YLGD�

'HILQLFLyQ/D�WDVD�GH�FUHFLPLHQWR�HFRQyPLFR�LQWHUDQXDOVH�FDOFXOD�PHGLDQWH�OD�YDULDFLyQ�SRUFHQWXDO�

GHO� 3,% UHDO R� GHO� 3,% UHDO� SHU� FiSLWD HQWUH� XQ� DxR� \� HO� DxR� LQPHGLDWR� DQWHULRU� DSOLFDQGR� OD�VLJXLHQWH�IyUPXOD�

WFL <<

W

W �§©̈

·¹̧� �� ���

GRQGH�WFL HV�OD�WDVD�GH�FUHFLPLHQWR�HFRQyPLFR�LQWHUDQXDO�\�< HV�HO�3,%�UHDO�R�HO�3,%�UHDO�SHU�FiSLWD�/D� WDVD� GH� FUHFLPLHQWR� HFRQyPLFR� SURPHGLR� DQXDOFRUUHVSRQGLHQWH� D� XQ� SHUtRGR� GH�

WLHPSR�VH�FDOFXOD�D�WUDYpV�GH�XQ�PRGHOR�GH�FUHFLPLHQWR�JHRPpWULFR��XWLOL]DQGR�XQD�UHJUHVLyQ�OLQHDO�SRU�HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV��/D�HFXDFLyQ�GH�FUHFLPLHQWR�JHRPpWULFR�

< < U WW �� � � �VH�REWLHQH�OD�WUDQVIRUPDFLyQ�ORJDUtWPLFD�GH�OD�H[SUHVLyQ�DQWHULRU�

OQ < D E W �GRQGH�< HV�HO�3,%�UHDO�R�HO�3,%�UHDO�SHU�FiSLWD��W HV�HO�WLHPSR��D �OQ�<R��E �OQ����U��\�U HV�OD�WDVD�GH�FUHFLPLHQWR�SURPHGLR�DQXDO��&RQ�HVWD�HVSHFLILFDFLyQ�VH�XWLOL]D�XQD�UHJUHVLyQ�OLQHDO�SRU�HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV�SDUD�HVWLPDU�D \�E��HQ�OD�TXH�OD�YDULDEOH�GHSHQGLHQWH�HV�HO�ORJDULWPR�QDWXUDO�GHO�3,%�UHDO�\�OD�YDULDEOH�LQGHSHQGLHQWH�HV�HO�WLHPSR�

8QD�YH]�HVWLPDGRV�ORV�SDUiPHWURV�D \�E�� SDUD�REWHQHU�U VH�GHEH�FDOFXODU�HO�DQWLORJDULWPR�GH�E \�UHVWDUOH����GHELGR�D�TXH�E HV�OD�WDVD�GH�FUHFLPLHQWR�LQVWDQWiQHD�\�OR�TXH�VH�GHVHD�REWHQHU�HV�OD�WDVD�GH�FUHFLPLHQWR�SURPHGLR�DQXDO�GHO�SHUtRGR�

� �U HE �� ��� 0HGLGD

3RUFHQWDMH)XHQWHV�GH�ORV�GDWRV�SULPDULRV

%DQFR &HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�6HULHV�FURQROyJLFDV�GLVSRQLEOHV

������ ������TXLQTXHQDO������� ������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV'DWRV�RILFLDOHV�GH�ODV� WDVDV�GH�FUHFLPLHQWR�LQWHUDQXDOHV�SDUD�HO�(FXDGRU�H[LVWHQ�D�SDUWLU�GH�������1R� REVWDQWH�� HQ� HO� 6,,6(� HVWH� LQGLFDGRU� HVWi� GHILQLGR� SDUD� HO� SHUtRGR� ����������� /D� WDVD� GH�FUHFLPLHQWR�SURPHGLR�DQXDO�HVWi�FDOFXODGD�SDUD�ORV�SHUtRGRV���������������������������������\������������/RV� GDWRV� FRUUHVSRQGLHQWHV� DO� SHUtRGR����������� WLHQHQ� FDUiFWHU� GHILQLWLYR�� D� ������VHPLGHILQLWLYR��\�D������������SURYLVLRQDO��6L�ELHQ�ORV�GDWRV�FRUUHVSRQGHQ�D�XQD�PLVPD�IXHQWH�\�VRQ�FRPSDUDEOHV�� VH�GHEH� WHQHU�HQ�FXHQWD�TXH� OD�SURGXFFLyQ�GH�ELHQHV�\�VHUYLFLRV�PHGLGD�SRU�HO�

Page 19: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

3,%� GLILHUH� HQWUH� XQ� DxR� \� RWUR�� SXHVWR� TXH� VH� SURGXFHQ� QXHYRV� ELHQHV�� GHVDSDUHFHQ� RWURV� R�FDPELDQ�GH�FDOLGDG��SRU� OR TXH�QR� VH�HVWDUtD� FRPSDUDQGR� OD�SURGXFFLyQ�GH� ORV�PLVPRV�ELHQHV� \�VHUYLFLRV��HVSHFLDOPHQWH�FXDQGR�VH�DQDOL]DQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR��

2EVHUYDFLRQHV�(O�3,%�GHSHQGH�GH� ORV�SUHFLRV�GH�PHUFDGR�GH� ORV�SURGXFWRV��SRU� OR�TXH� ODV� WUDQVDFFLRQHV�TXH�VH�UHDOL]DQ�IXHUD�GH� OD�HFRQRPtD�PRQHWDULD��FRPR�HO� WUDEDMR�HQ�HO�KRJDU�� ORV� LQWHUFDPELRV�PHGLDQWH�WUXHTXH�\�OD�SURGXFFLyQ�GH�DXWRFRQVXPR��QR�VH�FRQVLGHUDQ�HQ�HO�3,%��(Q�HVWH�FDVR��VH�VXEHVWLPD�OD�PHGLGD�

(O� FiOFXOR� GHO� 3,%� QR� FRQVLGHUD� ORV� FRVWRV� VRFLDOHV� GH� OD� FRQWDPLQDFLyQ� SURYRFDGRV� SRU� OD�DFWLYLGDG�HFRQyPLFD��VREUHVWLPDQGR�SRU�WDQWR�HVWD�PHGLGD��7DPSRFR�PLGH�ORV�ELHQHV�\�VHUYLFLRV�JHQHUDGRV�SRU�OD�GHQRPLQDGD�³HFRQRPtD�VXEWHUUiQHD´�R�³LQIRUPDO´��GHELGR�D�IDOWD�GH�GHFODUDFLyQ�\�R�VXEGHFODUDFLyQ��OR�TXH�UHGXQGD�HQ�XQD�VXEHVWLPDFLyQ��

(O� 3,%� UHDO�� DO� XWLOL]DU� SDUD� VX� FiOFXOR� ORV� SUHFLRV� GH� ORV� SURGXFWRV� HQ� XQ� DxR� EDVH�� WLHQH� HO�SUREOHPD�GH�TXH�ORV�ELHQHV�FDPELDQ�GH�FDOLGDG�HQ�HO�WLHPSR��GHVDSDUHFHQ�R�VH�FUHDQ�QXHYRV��SRU�OR�TXH�QR�VHUtD�HO�PLVPR�SURGXFWR�HO�TXH�VH�HVWi�FRPSDUDQGR�HQ�GRV�SXQWRV�GHO�WLHPSR��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%$1&2�081',$/� ,QIRUPH� VREUH� HO� GHVDUUROOR�PXQGLDO� ����� :DVKLQJWRQ�'�&��� 7KH�:RUOG�

%DQN��������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 20: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�352'8&&,21

&UHFLPLHQWR�(FRQyPLFR ��������� ��������� ��������� ��������� ��������� ���� ���� ���� ���� ���� ���� ���� ���� ����

7DVD�GH�&UHFLPLHQWR�GHO�3,%�5HDO ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����7DVD�GH�&UHFLPLHQWR�GHO�3,%�5HDO�SHU�FiSLWD ���� ���� ����� ���� ���� ���� ���� ���� ����� ���� ���� ����� ���� �����

&UHFLPLHQWR�HFRQyPLFR�3,%�UHDO�

��������������������

���

����

�����

����

�����

����

�����

����

�����

����

�����

����

����

����

����

����

����

����

����

����

Page 21: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����(VWUXFWXUD�GH�OD�HFRQRPtD

������(VWUXFWXUD�GH�OD�HFRQRPtD��SURGXFFLyQ

6HFWRU(FRQRPtD

6XEVHFWRU3URGXFFLyQ

)XQGDPHQWR/D�HVWUXFWXUD�GH�OD�HFRQRPtDGHVGH�HO�SXQWR�GH�YLVWD�GH�OD�SURGXFFLyQGHVFULEH�OD�SDUWLFLSDFLyQ�GHO�YDORU�DJUHJDGR�EUXWR�GH� ORV�GLVWLQWRV� VHFWRUHV�HFRQyPLFRV�HQ� OD�SURGXFFLyQ� WRWDO�GH�ELHQHV�\�VHUYLFLRV� ILQDOHV�GH�OD�HFRQRPtD��(O�3,%��PHGLGR�SRU�HO�PpWRGR�GHO�YDORU�DJUHJDGR��HV� LJXDO�D� OD�VXPD� GH� ORV� YDORUHV� DJUHJDGRV� HQ� FDGD� XQR� GH� ORV� VHFWRUHV� GH� OD� HFRQRPtD� PiV� ORV� GHUHFKRV�DUDQFHODULRV�\�RWURV�LPSXHVWRV�VREUH�LPSRUWDFLRQHV��(O�YDORU�DJUHJDGR HV�HO�YDORU�GH�XQ�SURGXFWR�R�ELHQ�PHQRV�HO�YDORU�GH�ORV�LQVXPRV�XWLOL]DGRV�HQ�OD�HODERUDFLyQ�GH�HVH�SURGXFWR�

'HILQLFLyQ/D� HFRQRPtD� VH� GLYLGH�� FRQIRUPH� D� OD� &,,8�� HQ� WUHV� JUDQGHV� VHFWRUHV�� �L�� DJURSHFXDULR�� �LL��LQGXVWULDO�R�PDQXIDFWXUHUR�\� �LLL�� VHUYLFLRV� �Y��6HFWRU�HFRQyPLFR���6H� LQFOX\H��DGLFLRQDOPHQWH��HO�UXEUR��2WURV�HOHPHQWRV�GHO�3,%���TXH�VH�DJUHJD�DO�YDORU�DJUHJDGR�EUXWR�SDUD�REWHQHU�HO�3,%��\�TXH�FRQVLVWH�GH�ORV�GHUHFKRV�DUDQFHODULRV�\�RWURV�LPSXHVWRV�VREUH�LPSRUWDFLRQHV�

3DUD�FDOFXODU�OD�SDUWLFLSDFLyQ�GH�FDGD�VHFWRU�R�VXEVHFWRU�HQ�OD�SURGXFFLyQ�WRWDO�GH�OD�HFRQRPtD��VH�GLYLGH�HO�YDORU�DJUHJDGR�EUXWR�UHVSHFWLYR�SDUD�HO�3,% \�VH�PXOWLSOLFD�SRU�����SDUD�H[SUHVDU�HO�UHVXOWDGR�HQ�SRUFHQWDMHV��FRQIRUPH�D�OD�VLJXLHQWH�IyUPXOD��

6 9$%3,%UHDOL

L ���

GRQGH� 6L HV� OD� WDVD� GH� SDUWLFLSDFLyQ� GHO� VHFWRU� R� VXEVHFWRU� L HQ� OD� SURGXFFLyQ� WRWDO� GH� ELHQHV� \�VHUYLFLRV� GH� OD� HFRQRPtD�� 9$%L HV� HO� YDORU� DJUHJDGR� EUXWR� D� SUHFLRV� FRQVWDQWHV� GHO� VHFWRU� R�VXEVHFWRU�L��\�HO�3,%UHDO�HV�HO�3,%�D�SUHFLRV�FRQVWDQWHV��

/RV�GDWRV�VH�HQFXHQWUDQ�D�SUHFLRV�FRQVWDQWHV��SUHFLRV�GH��������D�ILQ�GH�GHVFRQWDU�HO�HIHFWR�GH�OD�LQIODFLyQ�\�FRQVLGHUDU�~QLFDPHQWH�ORV�FDPELRV�HQ�OD�HVWUXFWXUD�SURGXFWLYD�

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�

6HULHV�FURQROyJLFDV�GLVSRQLEOHV������ ������TXLQTXHQDO������� ������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV'DWRV�RILFLDOHV GH�ODV�WDVDV�GH�FUHFLPLHQWR�LQWHUDQXDOHV�SDUD�HO�(FXDGRU�H[LVWHQ�D�SDUWLU�GH�������1R� REVWDQWH�� HQ� HO� 6,,6(� HVWH� LQGLFDGRU� HVWi� GHILQLGR� SDUD� HO� SHUtRGR� ����������� /D� WDVD� GH�FUHFLPLHQWR�SURPHGLR�DQXDO�HVWi�FDOFXODGD�SDUD�ORV�SHUtRGRV���������������������������������\� ����������� /RV� GDWRV� FRUUHVSRQGLHQWHV� DO� SHUtRGR� ���������� WLHQHQ� FDUiFWHU� GHILQLWLYR�� D������� VHPLGHILQLWLYR�� \�D������������SURYLVLRQDO��6L�ELHQ� ORV�GDWRV�FRUUHVSRQGHQ�D�XQD�PLVPD�IXHQWH� \� VRQ� FRPSDUDEOHV�� VH� GHEH� WHQHU� HQ� FXHQWD� TXH� OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�PHGLGD� SRU� HO� 3,%� GLILHUH� HQWUH� XQ� DxR� \� RWUR�� SXHVWR� TXH� VH� SURGXFHQ� QXHYRV� ELHQHV��GHVDSDUHFHQ�RWURV�R�FDPELDQ�GH�FDOLGDG��SRU�OR�TXH�QR�VH�HVWDUtD�FRPSDUDQGR�OD�SURGXFFLyQ�GH�ORV� PLVPRV� ELHQHV� \� VHUYLFLRV�� HVSHFLDOPHQWH� FXDQGR� VH� DQDOL]DQ� SHUtRGRV� SURORQJDGRV� GH�WLHPSR��

2EVHUYDFLRQHV�(O�3,%�GHSHQGH�GH� ORV�SUHFLRV�GH�PHUFDGR�GH� ORV�SURGXFWRV��SRU� OR�TXH� ODV� WUDQVDFFLRQHV�

TXH� VH� UHDOL]DQ� IXHUD� GH� OD� HFRQRPtD� PRQHWDULD�� FRPR� HO� WUDEDMR� HQ� HO� KRJDU�� ORV� LQWHUFDPELRV�

Page 22: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

PHGLDQWH� WUXHTXH�\� OD�SURGXFFLyQ�GH�DXWRFRQVXPR��QR�VH�FRQVLGHUDQ�HQ�HO�3,%��(Q�HVWH�FDVR��VH�VXEHVWLPD�HO�LQGLFDGRU�

(O�FiOFXOR�GHO�3,%�QR�FRQVLGHUD�ORV�FRVWRV�VRFLDOHV�GH�OD�FRQWDPLQDFLyQ�SURYRFDGRV�SRU�OD�DFWLYLGDG�HFRQyPLFD��VREUHVWLPDQGR�SRU�WDQWR�HVWD�PHGLGD��7DPSRFR�PLGH�ORV�ELHQHV�\�VHUYLFLRV�JHQHUDGRV�SRU�OD�GHQRPLQDGD�³HFRQRPtD�VXEWHUUiQHD´�R�³LQIRUPDO´��GHELGR�D�IDOWD�GH�GHFODUDFLyQ�\�R�VXEGHFODUDFLyQ��OR�TXH�UHGXQGD�HQ�XQD�VXEHVWLPDFLyQ��

(O�3,%�UHDO��DO�XWLOL]DU�SDUD�VX�FiOFXOR�ORV�SUHFLRV�GH�ORV�SURGXFWRV�HQ�XQ�DxR�EDVH��WLHQH�HO�SUREOHPD�GH�TXH�ORV�ELHQHV�FDPELDQ�GH�FDOLGDG�HQ�HO�WLHPSR��GHVDSDUHFHQ�R�VH�FUHDQ�QXHYRV��SRU�OR�TXH�QR�VHUtD�HO�PLVPR�SURGXFWR�HO�TXH�VH�HVWi�FRPSDUDQGR�HQ�GRV�SXQWRV�GHO�WLHPSR��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%$1&2�081',$/� ,QIRUPH� VREUH� HO� GHVDUUROOR�PXQGLDO� ����� :DVKLQJWRQ�'�&��� 7KH�:RUOG�

%DQN��������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������:25/'�%$1.��7UHQGV� LQ� 'HYHORSLQJ� (FRQRPLHV� ������:DVKLQJWRQ�� '�&��� 7KH�:RUOG�%DQN��

������

��

���

���

���

���

����

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

(VWUXFWXUD�GH�OD�(FRQRPtD���GHO�3,%�D�SUHFLRV�FRQVWDQWHV�

$JURSHFXDULR ,QGXVWULDO 6HUYLFLRV

Page 23: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�352'8&&,21

(VWUXFWXUD�GH�OD�(FRQRPtD3URGXFFLyQ����GHO�3,%�D�SUHFLRV�FRQVWDQWHV� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����6HFWRU�DJURSHFXDULR ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����6HFWRU�LQGXVWULDO ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

3HWUyOHR�\�PLQDV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0DQXIDFWXUDV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����(OHFWULFLGDG��JDV�\�DJXD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RQVWUXFFLyQ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

6HFWRU�VHUYLFLRV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����&RPHUFLR�\�KRWHOHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����7UDQVSRUWH�\�FRPXQLFDFLRQHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���6HUYLFLRV�ILQDQFLHURV�\�D�HPSUHVDV ���� ���� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���6HUYLFLRV�JXEHUQDPHQWDOHV��VRFLDOHV�\�SHUVRQDOHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

7RWDO�YDORU�DJUHJDGR�EUXWR��SS� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����2WURV�HOHPHQWRV�GHO�3,% ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���3URGXFWR�LQWHUQR�EUXWR��SF� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

Page 24: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

������(VWUXFWXUD�GH�OD�HFRQRPtD��ELHQHV�WUDQVDEOHV�± QR�WUDQVDEOHV

6HFWRU(FRQRPtD

6XEVHFWRU3URGXFFLyQ

)XQGDPHQWR/D�HVWUXFWXUD�GH�OD�HFRQRPtD GHVGH�HO�SXQWR�GH�YLVWD�GH�OD�SURGXFFLyQ�GH�ELHQHV�WUDQVDEOHV�\�QR�WUDQVDEOHV GHVFULEH� OD�SDUWLFLSDFLyQ�GHO�YDORU� DJUHJDGR�EUXWR�GH�HVWRV� VHFWRUHV�HQ� OD�SURGXFFLyQ�WRWDO�GH�ELHQHV�\�VHUYLFLRV�ILQDOHV��(O�3,%��PHGLGR�SRU�HO�PpWRGR�GHO�YDORU�DJUHJDGR��HV�LJXDO�D�OD�VXPD� GH� ORV� YDORUHV� DJUHJDGRV� HQ� FDGD� XQR� GH� ORV� VHFWRUHV� GH� OD� HFRQRPtD� PiV� ORV� GHUHFKRV�DUDQFHODULRV�\�RWURV�LPSXHVWRV�VREUH�LPSRUWDFLRQHV��(O�YDORU�DJUHJDGR HV�HO�YDORU�GH�XQ�SURGXFWR�R�ELHQ�PHQRV�HO�YDORU�GH�ORV�LQVXPRV�XWLOL]DGRV�HQ�OD�HODERUDFLyQ�GH�HVH�SURGXFWR�

/RV�ELHQHV�WUDQVDEOHV VRQ�ORV�TXH�HVWiQ�H[SXHVWRV�DO�FRPHUFLR�LQWHUQDFLRQDO��HV�GHFLU��VRQ�ELHQHV� TXH� VH� SXHGHQ� H[SRUWDU� R� LPSRUWDU� \� TXH�� SRU� OR� WDQWR�� HVWiQ� VXMHWRV� D� OD� FRPSHWHQFLD�H[WHUQD�� /RV� ELHQHV�QR� WUDQVDEOHV VyOR� SXHGHQ� FRQVXPLUVH� GHQWUR� GH� OD� HFRQRPtD� HQ� OD� TXH� VH�SURGXFHQ�� HVWR� HV�� QR� SXHGHQ� LPSRUWDUVH� QL� H[SRUWDUVH��8QR� GH� ORV� REMHWLYRV� GH� ODV� SROtWLFDV� GH�DMXVWH� HVWUXFWXUDO� \� GH� DSHUWXUD� FRPHUFLDO� HV� FDPELDU� OD� HVWUXFWXUD� GH� OD� HFRQRPtD� GHVGH� OD�SURGXFFLyQ�QR�WUDQVDEOH�KDFLD�OD�SURGXFFLyQ�WUDQVDEOH�

'HILQLFLyQ(Q�WpUPLQRV�RSHUDWLYRV�\�FRPR�XQD�DSUR[LPDFLyQ�D�OD�GLYLVLyQ�GH�OD�SURGXFFLyQ�WRWDO�GH�ELHQHV�\�VHUYLFLRV�HQ�SURGXFFLyQ�WUDQVDEOH�\�QR�WUDQVDEOH��HQ�HO�6,,6(��HO�VHFWRU�WUDQVDEOH GH�OD�HFRQRPtD�FRPSUHQGH�OD�VXPD�GHO YDORU�DJUHJDGR�EUXWR�GH�ODV�VLJXLHQWHV�UDPDV�GH�OD�HFRQRPtD��DJULFXOWXUD��FD]D��VLOYLFXOWXUD�\�SHVFD��SHWUyOHR�\�RWUDV�PLQDV��H��LQGXVWULDV�PDQXIDFWXUHUDV��HV�GHFLU��ODV�UDPDV���� �� \� �� GH� DFXHUGR� D� OD� &,,8�� (Q� WDQWR� TXH� HO� VHFWRU� QR� WUDQVDEOH HVWi� FRQVWLWXLGR� SRU� OD�VXPDWRULD�GHO�YDORU�DJUHJDGR�EUXWR�GH�ODV�UDPDV���������������\���GH�OD�&,,8��HV�GHFLU��ORV�ELHQHV�GH�ODV�VLJXLHQWHV�UDPDV��HOHFWULFLGDG��JDV�\�DJXD��FRQVWUXFFLyQ��FRPHUFLR�DO�SRU�PD\RU��DO�SRU�PHQRU��UHVWDXUDQWHV� \� KRWHOHV�� WUDQVSRUWH�� DOPDFHQDPLHQWR� \� FRPXQLFDFLRQHV�� HVWDEOHFLPLHQWRV�ILQDQFLHURV�� VHJXURV� \� VHUYLFLRV� SUHVWDGRV� D� ODV� HPSUHVDV�� \�� VHUYLFLRV� FRPXQDOHV�� VRFLDOHV� \�SHUVRQDOHV�� 3RU� ~OWLPR�� VH� LQFOX\H� HO� UXEUR� �2WURV� HOHPHQWRV� GHO� 3,%��� TXH� VH� DJUHJD� DO� YDORU�DJUHJDGR�EUXWR�SDUD�REWHQHU�HO�3,%��\�TXH�FRQVLVWH�GH�ORV�GHUHFKRV�DUDQFHODULRV�\�RWURV�LPSXHVWRV�VREUH�LPSRUWDFLRQHV�

3DUD� FDOFXODU� OD� SDUWLFLSDFLyQ� GH� FDGD� VHFWRU� R� VXEVHFWRU� HQ� OD� SURGXFFLyQ� WRWDO� GH� OD�HFRQRPtD��VH�GLYLGH�HO�YDORU� DJUHJDGR�EUXWR� UHVSHFWLYR�SDUD�HO�3,%�\� VH�PXOWLSOLFD�SRU�����SDUD�H[SUHVDU�HO�UHVXOWDGR�HQ�SRUFHQWDMHV��VHJ~Q�OD�VLJXLHQWH�IyUPXOD��

6 9$%3,%UHDOL

L ���

GRQGH� 6L� HV� OD� WDVD� GH� SDUWLFLSDFLyQ� GHO� VHFWRU� R� VXEVHFWRU� L� HQ� OD� SURGXFFLyQ� WRWDO� GH� ELHQHV� \�VHUYLFLRV� GH� OD� HFRQRPtD�� 9$%L� HV� HO� YDORU� DJUHJDGR� EUXWR� D� SUHFLRV� FRQVWDQWHV� GHO� VHFWRU� R�VXEVHFWRU�L��\�HO�3,%UHDO�HV�HO�3,% D�SUHFLRV�FRQVWDQWHV��

/RV�GDWRV�VH�HQFXHQWUDQ�D�SUHFLRV�FRQVWDQWHV��SUHFLRV�GH��������D�ILQ�GH�GHVFRQWDU�HO�HIHFWR�GH�OD�LQIODFLyQ�\�FRQVLGHUDU�~QLFDPHQWH�ORV�FDPELRV�HQ�OD HVWUXFWXUD�SURGXFWLYD�

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQ WHV'DWRV�RILFLDOHV�GH�ODV�WDVDV�GH�FUHFLPLHQWR�LQWHUDQXDOHV�SDUD�HO�(FXDGRU�H[LVWHQ�D�SDUWLU�GH�������1R� REVWDQWH�� HQ� HO� 6,,6(� HVWH� LQGLFDGRU� HVWi� GHILQLGR� SDUD� HO� SHUtRGR� ����������� /D� WDVD� GH�FUHFLPLHQWR�SURPHGLR�DQXDO�HVWi�FDOFXODGD�SDUD�ORV�SHUtRGRV���������������������������������

Page 25: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

\� ����������� /RV� GDWRV� FRUUHVSRQGLHQWHV� DO� SHUtRGR� ���������� WLHQHQ� FDUiFWHU� GHILQLWLYR�� D������� VHPLGHILQLWLYR�� \�D������������SURYLVLRQDO��6L�ELHQ� ORV�GDWRV�FRUUHVSRQGHQ�D�XQD�PLVPD�IXHQWH� \� VRQ� FRPSDUDEOHV�� VH� GHEH� WHQHU� HQ� FXHQWD� TXH� OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�PHGLGD� SRU� HO� 3,%� GLILHUH� HQWUH� XQ� DxR� \� RWUR�� SXHVWR� TXH� VH� SURGXFHQ� QXHYRV� ELHQHV��GHVDSDUHFHQ�RWURV�R�FDPELDQ�GH�FDOLGDG��SRU�OR�TXH�QR�VH�HVWDUtD�FRPSDUDQGR�OD�SURGXFFLyQ�GH�ORV� PLVPRV� ELHQHV� \� VHUYLFLRV�� HVSHFLDOPHQWH� FXDQGR� VH� DQDOL]DQ� SHUtRGRV� SURORQJDGRV� GH�WLHPSR��

2EVHUYDFLRQHV�(O�3,%�GHSHQGH�GH� ORV�SUHFLRV�GH�PHUFDGR�GH� ORV�SURGXFWRV��SRU� OR�TXH� ODV� WUDQVDFFLRQHV�TXH�VH�UHDOL]DQ�IXHUD�GH� OD�HFRQRPtD�PRQHWDULD��FRPR�HO� WUDEDMR�HQ�HO�KRJDU�� ORV� LQWHUFDPELRV�PHGLDQWH�WUXHTXH�\�OD�SURGXFFLyQ�GH�DXWRFRQVXPR��QR�VH�FRQVLGHUDQ�HQ�HO�3,%��(Q�HVWH�FDVR��VH�VXEHVWLPD�HO�LQGLFDGRU�

(O� FiOFXOR� GHO� 3,%� QR� FRQVLGHUD� ORV� FRVWRV� VRFLDOHV� GH� OD� FRQWDPLQDFLyQ� SURYRFDGRV� SRU� OD�DFWLYLGDG�HFRQyPLFD��VREUHVWLPDQGR�SRU�WDQWR�HVWD�PHGLGD��7DPSRFR�PLGH�ORV�ELHQHV�\�VHUYLFLRV�JHQHUDGRV�SRU�OD�GHQRPLQDGD�³HFRQRPtD�VXEWHUUiQHD´�R�³LQIRUPDO´��GHELGR�D�IDOWD�GH�GHFODUDFLyQ�\�R�VXEGHFODUDFLyQ��OR�TXH�UHGXQGD�HQ�XQD�VXEHVWLPDFLyQ��

(O� 3,%� UHDO�� DO� XWLOL]DU� SDUD� VX� FiOFXOR� ORV� SUHFLRV� GH� ORV� SURGXFWRV� HQ� XQ� DxR� EDVH�� WLHQH� HO�SUREOHPD�GH�TXH�ORV�ELHQHV�FDPELDQ�GH�FDOLGDG�HQ�HO�WLHPSR��GHVDSDUHFHQ�R�VH�FUHDQ�QXHYRV��SRU�OR�TXH�QR�VHUtD�HO�PLVPR�SURGXFWR�HO�TXH�VH�HVWi�FRPSDUDQGR�HQ�GRV�SXQWRV�GHO�WLHPSR��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

���������������������������������������

�����

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

(VWUXFWXUD�GH�OD�HFRQRPtD���GHO�3,%�D�SUHFLRV�FRQVWDQWHV�

7UDQVDEOH 1R�WUDQVDEOH

Page 26: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�352'8&&,21(VWUXFWXUD�GH�OD�(FRQRPtD7UDQVDEOHV�� QR�WUDQVDEOHV����GHO�3,%�D�SUHFLRV�FRQVWDQWHV� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����6HFWRU�WUDQVDEOH ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

$JULFXOWXUD��FD]D��VLOYLFXOWXUD�\�SHVFD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����3HWUyOHR�\�PLQDV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0DQXIDFWXUDV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

6HFWRU�QR�WUDQVDEOH ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����(OHFWULFLGDG��JDV�\�DJXD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RQVWUXFFLyQ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RPHUFLR��UHVWDXUDQWHV�\�KRWHOHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����7UDQVSRUWH��DOPDFHQDPLHQWR�\�FRPXQLFDFLRQHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���6HUYLFLRV�ILQDQFLHURV�\�D�HPSUHVDV ���� ���� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���6HUYLFLRV�JXEHUQDPHQWDOHV��VRFLDOHV�\�SHUVRQDOHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

7RWDO�YDORU�DJUHJDGR�EUXWR��SS� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����2WURV�HOHPHQWRV�GHO�3,% ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���3URGXFWR�LQWHUQR�EUXWR��SF� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

Page 27: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

������(VWUXFWXUD�GH�OD�HFRQRPtD��GHPDQGD

6HFWRU(FRQRPtD

6XEVHFWRU3URGXFFLyQ

)XQGDPHQWR/D� HVWUXFWXUD� GH� OD� HFRQRPtD GHVGH� HO� SXQWR� GH� YLVWD� GH� OD� GHPDQGD GHVFULEH� OD�GHVFRPSRVLFLyQ�GH OD�GHPDQGD�DJUHJDGD�GH�OD�HFRQRPtD�SRU�FDGD�XQD�GH�ODV�GLIHUHQWHV�FDWHJRUtDV�GH�JDVWR��(O�3,%�PHGLGR�SRU�HO�PpWRGR�GHO�JDVWR�HV�LJXDO�D�OD�VXPD�GH�WRGDV�ODV�GHPDQGDV�ILQDOHV�GH�SURGXFWRV�HQ�OD�HFRQRPtD�\�VH�H[SUHVD�PHGLDQWH�OD�VLJXLHQWH�LGHQWLGDG�

3,%� �&���*���,����;�� 0�GRQGH�&�HV�HO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV��*�HV�HO�FRQVXPR�ILQDO�GH�ODV�$GPLQLVWUDFLRQHV�3~EOLFDV��,�HV�OD�LQYHUVLyQ�\��;�� 0��FRUUHVSRQGH�D�ODV�H[SRUWDFLRQHV�QHWDV�R�YHQWDV�QHWDV�DO�H[WHULRU��HV�GHFLU��D�ODV�H[SRUWDFLRQHV��;��PHQRV�ODV�LPSRUWDFLRQHV��0���(Q�HO�6,,6(��VH�GHVDJUHJD�OD�LQYHUVLyQ�GH�OD�VLJXLHQWH�PDQHUD�

, )%.) )%.) 9($38 5$ � �

GRQGH� )%.)$38 HV� OD� IRUPDFLyQ� EUXWD� GH� FDSLWDO� ILMR� GH� ODV� $GPLQLVWUDFLRQHV� 3~EOLFDV��)%.)5$ HV� OD� IRUPDFLyQ� EUXWD� GH� FDSLWDO� ILMR� GHO� UHVWR� GH� DJHQWHV� �HPSUHVDV� S~EOLFDV��LQVWLWXFLRQHV� ILQDQFLHUDV� S~EOLFDV� \� SULYDGDV�� VRFLHGDGHV� \� FXDVLVRFLHGDGHV� SULYDGDV��+RJDUHV�� \�9(�HV�OD�YDULDFLyQ�GH�H[LVWHQFLDV��(O�FRQVXPR�ILQDO HV�HO�YDORU�GH�ORV�ELHQHV�\�VHUYLFLRV�GHVWLQDGRV�D�OD�VDWLVIDFFLyQ�GLUHFWD�GH�QHFHVLGDGHV�LQGLYLGXDOHV�R�FROHFWLYDV��/D�IRUPDFLyQ�EUXWD�GH�FDSLWDO�ILMR� �)%.)� HV� HO� YDORU� GH� ORV� ELHQHV� GH� FDSLWDO� XWLOL]DGRV� HQ� HO� SURFHVR� SURGXFWLYR� SDUD� OD�SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�� /D� YDULDFLyQ� GH� H[LVWHQFLDV �9(� HV� OD� GLIHUHQFLD� HQWUH� HO�LQYHQWDULR� ILQDO� \� HO� LQYHQWDULR� LQLFLDO� GH� PDWHULDV� SULPDV�� SURGXFWRV� HQ� SURFHVR� \� ELHQHV� QR�YHQGLGRV��/DV�H[SRUWDFLRQHV� �;� HVWiQ�FRQVWLWXLGDV�SRU� OD�YHQWD�GH�ELHQHV�\�VHUYLFLRV�GHO�SDtV�D�RWURV� SDtVHV�� /DV� LPSRUWDFLRQHV �0� HVWiQ� FRQVWLWXLGDV� SRU� OD� FRPSUD� GH� ELHQHV� \� VHUYLFLRV�UHDOL]DGDV�SRU�HO�SDtV�D�RWURV�SDtVHV��

'HILQLFLyQ3DUD�FDOFXODU�OD�SDUWLFLSDFLyQ�GH�FDGD�WLSR�GH�JDVWR�HQ�OD�SURGXFFLyQ�WRWDO�GH�OD�HFRQRPtD��VH�GLYLGH�HO�YDORU�GHO�JDVWR�UHVSHFWLYR�SDUD�HO�3,%�\�VH�PXOWLSOLFD�SRU�����SDUD�H[SUHVDU�HO�UHVXOWDGR�HQ�SRUFHQWDMHV��

7 *$6723,%UHDOL

L ���

GRQGH�7L HV�OD�WDVD�GH�SDUWLFLSDFLyQ�GHO�JDVWR�L HQ�OD�GHPDQGD�DJUHJDGD�GH�OD�HFRQRPtD��*$672L HV�HO�YDORU�GHO�JDVWR�L D�SUHFLRV�FRQVWDQWHV��\�HO�3,%�UHDO�HV�HO�3,%�D SUHFLRV�FRQVWDQWHV��

/RV�GDWRV�VH�HQFXHQWUDQ�D�SUHFLRV�FRQVWDQWHV��SUHFLRV�GH��������D�ILQ�GH�GHVFRQWDU�HO�HIHFWR�GH�OD�LQIODFLyQ�\�FRQVLGHUDU�~QLFDPHQWH�ORV�FDPELRV�HQ�OD�HVWUXFWXUD�GH�OD�GHPDQGD�DJUHJDGD�

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR &HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV'DWRV�RILFLDOHV�GH�ODV�WDVDV�GH�FUHFLPLHQWR�LQWHUDQXDOHV�SDUD�HO�(FXDGRU�H[LVWHQ�D�SDUWLU�GH�������1R� REVWDQWH�� HQ� HO� 6,,6(� HVWH� LQGLFDGRU� HVWi� GHILQLGR� SDUD� HO� SHUtRGR� ����������� /D� WDVD� GH�FUHFLPLHQWR�SURPHGLR�DQXDO�HVWi�FDOFXODGD�SDUD�ORV�SHUtRGRV���������������������������������\� ����������� /RV� GDWRV� FRUUHVSRQGLHQWHV� DO� SHUtRGR� ���������� WLHQHQ� FDUiFWHU� GHILQLWLYR�� D������� VHPLGHILQLWLYR�� \ D������������SURYLVLRQDO��6L�ELHQ� ORV�GDWRV�FRUUHVSRQGHQ�D�XQD�PLVPD�IXHQWH� \� VRQ� FRPSDUDEOHV�� VH� GHEH� WHQHU� HQ� FXHQWD� TXH� OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�

Page 28: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

PHGLGD� SRU� HO� 3,%� GLILHUH� HQWUH� XQ� DxR� \� RWUR�� SXHVWR� TXH� VH� SURGXFHQ� QXHYRV� ELHQHV��GHVDSDUHFHQ RWURV�R�FDPELDQ�GH�FDOLGDG��SRU�OR�TXH�QR�VH�HVWDUtD�FRPSDUDQGR�OD�SURGXFFLyQ�GH�ORV� PLVPRV� ELHQHV� \� VHUYLFLRV�� HVSHFLDOPHQWH� FXDQGR� VH� DQDOL]DQ� SHUtRGRV� SURORQJDGRV� GH�WLHPSR��

2EVHUYDFLRQHV�(O�3,%�GHSHQGH�GH� ORV�SUHFLRV�GH�PHUFDGR�GH� ORV�SURGXFWRV��SRU OR�TXH� ODV� WUDQVDFFLRQHV�TXH�VH�UHDOL]DQ�IXHUD�GH� OD�HFRQRPtD�PRQHWDULD��FRPR�HO� WUDEDMR�HQ�HO�KRJDU�� ORV� LQWHUFDPELRV�PHGLDQWH�WUXHTXH�\�OD�SURGXFFLyQ�GH�DXWRFRQVXPR��QR�VH�FRQVLGHUDQ�HQ�HO�3,%��(Q�HVWH�FDVR��VH�VXEHVWLPD�HO�LQGLFDGRU�

(O�FiOFXOR�GHO�3,% QR�FRQVLGHUD�ORV�FRVWRV�VRFLDOHV�GH�OD�FRQWDPLQDFLyQ�SURYRFDGRV�SRU�OD�DFWLYLGDG�HFRQyPLFD��VREUHVWLPDQGR�SRU�WDQWR�HVWD�PHGLGD��7DPSRFR�PLGH�ORV�ELHQHV�\�VHUYLFLRV�JHQHUDGRV�SRU�OD�GHQRPLQDGD�³HFRQRPtD�VXEWHUUiQHD´�R�³LQIRUPDO´��GHELGR�D�IDOWD�GH�GHFODUDFLyQ�\�R�VXEGHFODUDFLyQ��OR�TXH�UHGXQGD�HQ�XQD�VXEHVWLPDFLyQ��

(O�3,%�UHDO��DO�XWLOL]DU�SDUD�VX�FiOFXOR�ORV�SUHFLRV�GH�ORV�SURGXFWRV�HQ�XQ�DxR�EDVH��WLHQH�HO�SUREOHPD�GH�TXH�ORV�ELHQHV�FDPELDQ�GH�FDOLGDG�HQ�HO�WLHPSR��GHVDSDUHFHQ�R�VH�FUHDQ�QXHYRV��SRU�OR�TXH�QR�VHUtD�HO�PLVPR�SURGXFWR�HO�TXH�VH�HVWi�FRPSDUDQGR�HQ�GRV�SXQWRV�GHO�WLHPSR��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%$1&2�081',$/� ,QIRUPH� VREUH� HO� GHVDUUROOR�PXQGLDO� ����� :DVKLQJWRQ�'�&��� 7KH�:RUOG�

%DQN��������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������:25/'�%$1.��7UHQGV� LQ� 'HYHORSLQJ� (FRQRPLHV� ������:DVKLQJWRQ�� '�&��� 7KH�:RUOG�%DQN��

�����

Page 29: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�352'8&&,21

(VWUXFWXUD�GH�OD�(FRQRPtD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����'HPDQGD����GHO�3,%�D�SUHFLRV�FRQVWDQWHV�&RQVXPR�)LQDO ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

$GPLQLVWUDFLRQHV�3~EOLFDV ���� ���� ���� ���� ���� ���� ���� ���� ��� ��� ��� ���+RJDUHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

,QYHUVLyQ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����)RUPDFLyQ�%UXWD�GH�&DSLWDO )LMR ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

$GPLQLVWUDFLRQHV�3~EOLFDV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���5HVWR�GH�$JHQWHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

9DULDFLyQ�GH�([LVWHQFLDV ��� ��� ��� ��� ��� ���� ��� ��� ��� ��� ��� ����([SRUWDFLRQHV�1HWDV��H[SRUWDFLRQHV�± LPSRUWDFLRQHV� ���� ����� ���� ����� ��� ��� ��� ��� ���� ���� ���� ����([SRUWDFLRQHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����,PSRUWDFLRQHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

Page 30: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

������(VWUXFWXUD�GH�OD�HFRQRPtD��GLVWULEXFLyQ�SULPDULD�GHO�LQJUHVR��3,%�

6HFWRU(FRQRPtD

6XEVHFWRU3URGXFFLyQ

)XQGDPHQWR/D�HVWUXFWXUD�GH�OD�HFRQRPtD GHVGH�HO�SXQWR�GH�YLVWD GH�OD�GLVWULEXFLyQ�SULPDULD�R�IXQFLRQDO�GHO�LQJUHVR��3,%��GHVFULEH�OD�FRQWULEXFLyQ�GH�ORV�IDFWRUHV�GH�SURGXFFLyQ�HQ�OD�SURGXFFLyQ�WRWDO�GH�ELHQHV�\�VHUYLFLRV�GH�OD�HFRQRPtD��(Q�HVWH�FDVR�HO�3,%�PHGLGR�SRU�HO�PpWRGR�GHO�LQJUHVR�HV�LJXDO�D�OD�VXPD�GH� ORV� LQJUHVRV�GH� ORV� IDFWRUHV� �WUDEDMR�\�FDSLWDO��TXH�FRQWULEX\HQ�DO�SURFHVR�SURGXFWLYR�PiV�ORV�LPSXHVWRV�LQGLUHFWRV�QHWRV�

3,%� �5(���(%(���,,1GRQGH�5(�HV�OD�5HPXQHUDFLyQ�GH�ORV�(PSOHDGRV��(%(�HV�HO�([FHGHQWH�%UXWR�GH�([SORWDFLyQ�H�,,1�VRQ�ORV�,PSXHVWRV�,QGLUHFWRV�1HWRV��/DV�UHPXQHUDFLRQHV�GH�ORV�HPSOHDGRV��5(� VRQ�ORV�SDJRV�HQ�GLQHUR�R�HQ�HVSHFLH�HIHFWXDGRV�SRU�ORV�HPSOHDGRUHV�D�VXV�HPSOHDGRV��FRPR�UHWULEXFLyQ�DO�WUDEDMR�UHDOL]DGR�GXUDQWH�XQ�HMHUFLFLR�HFRQyPLFR�\�FRQVLVWHQ�SULQFLSDOPHQWH�GH�ORV�6XHOGRV�\�6DODULRV�GH�ORV�HPSOHDGRV�\�GH� ODV�&RQWULEXFLRQHV�D� OD�6HJXULGDG�6RFLDO� UHDOL]DGD�SRU� ORV�HPSOHDGRUHV��/RV�LPSXHVWRV� LQGLUHFWRV�QHWRV �,,1� VRQ� LJXDOHV�D� ORV� ,PSXHVWRV� ,QGLUHFWRV�%UXWRV� �,,%��PHQRV� ODV�6XEYHQFLRQHV��/RV� LPSXHVWRV� LQGLUHFWRV�EUXWRV� �,,%� VRQ�SDJRV�REOLJDWRULRV� UHDOL]DGRV�SRU� ORV�DJHQWHV� HFRQyPLFRV� D� ODV� $GPLQLVWUDFLRQHV� 3~EOLFDV�� SRU� VXV� DFWLYLGDGHV� GH� SURGXFFLyQ��H[SRUWDFLyQ�H�LPSRUWDFLyQ�GH�ELHQHV�\�VHUYLFLRV�R�SRU�OD�XWLOL]DFLyQ�GH�IDFWRUHV�SURGXFWLYRV��(VWiQ�FRPSXHVWRV� GH� ORV� LPSXHVWRV� LQGLUHFWRV� EUXWRV� VREUH� LPSRUWDFLRQHV�� GHUHFKRV� DUDQFHODULRV��LPSXHVWRV� D� ODV� WUDQVDFFLRQHV� PHUFDQWLOHV� �VREUH� OD� SURGXFFLyQ� QDFLRQDO��� LPSXHVWRV� VREUH�SURGXFWRV� HVSHFtILFRV� H� LPSXHVWRV� DO� YDORU� DJUHJDGR�� /DV� VXEYHQFLRQHV VRQ� WUDQVIHUHQFLDV�FRUULHQWHV� HIHFWXDGDV� SRU� ODV� $GPLQLVWUDFLRQHV� 3~EOLFDV� D� ODV� XQLGDGHV� TXH� SURGXFHQ� ELHQHV� R�VHUYLFLRV� SDUD� FRPSHQVDU� ODV� SpUGLGDV� GH� H[SORWDFLyQ�� LQIOX\HQ� GLUHFWDPHQWH� HQ� ORV� SUHFLRV� \�FRQVWLWX\HQ�LQJUHVRV�DGLFLRQDOHV�SDUD�ORV�SURGXFWRUHV��(O�H[FHGHQWH�EUXWR�GH�H[SORWDFLyQ��(%(�UHSUHVHQWD� OD� UHPXQHUDFLyQ�DO� FDSLWDO�XWLOL]DGR�HQ�HO�SURFHVR�SURGXFWLYR��6LQ�HPEDUJR�� HQ�SDtVHV�FRQ�XQ��VHFWRU�LQIRUPDO��FRQVLGHUDEOH��LQFOX\H�WDPELpQ�ORV�LQJUHVRV�GH�ORV�WUDEDMDGRUHV�SRU�FXHQWD�SURSLD�FRPR��SRU�HMHPSOR��DUWHVDQRV��SHTXHxRV�FRPHUFLDQWHV��DJULFXOWRUHV�LQGHSHQGLHQWHV��HWF���TXH�DSRUWDQ� WUDEDMR� \� FDSLWDO� HQ� VX� DFWLYLGDG� SURGXFWLYD�� (V� LPSRUWDQWH� UHVDOWDU� TXH� HO� FRQMXQWR� GHO��VHFWRU� LQIRUPDO�� QR� HV� DGHFXDGDPHQWH� PHGLGR� SRU� ODV� FXHQWDV� QDFLRQDOHV�� QR� REVWDQWH�� VH�LQFRUSRUD�XQD�SDUWH�GH�HVWH�VHFWRU�D� WUDYpV�GHO�H[FHGHQWH�EUXWR�GH�H[SORWDFLyQ�GH� ODV�FXHQWDV�GHO�VHFWRU�LQVWLWXFLRQDO��+RJDUHV���DVSHFWR�TXH�GHEH�FRQVLGHUDUVH�SDUD�ILQHV�GH�DQiOLVLV�HFRQyPLFR�

'HILQLFLyQ3DUD�FDOFXODU�OD�SDUWLFLSDFLyQ�GH�FDGD�IDFWRU�GH�SURGXFFLyQ�HQ�OD�SURGXFFLyQ�WRWDO�GH�OD�HFRQRPtD��VH�GLYLGH�HO� LQJUHVR�GHO� IDFWRU� UHVSHFWLYR�SDUD�HO�3URGXFWR�,QWHUQR�%UXWR�\� VH�PXOWLSOLFD�SRU�����SDUD�H[SUHVDU�HO�UHVXOWDGR�HQ�SRUFHQWDMHV��

8 ,1*5(623,%L

L ���GRQGH�8L HV�OD�WDVD�GH�FRQWULEXFLyQ�GHO�IDFWRU�L HQ�OD�SURGXFFLyQ�WRWDO�GH�ELHQHV�\�VHUYLFLRV�GH�OD�HFRQRPtD�� ,1*5(62L HV� HO� LQJUHVR� GHO� IDFWRU� L D� SUHFLRV� FRUULHQWHV�� \� 3,%� HV� HO� 3,% D� SUHFLRV�FRUULHQWHV��

(O� WRWDO�GHO�H[FHGHQWH�EUXWR�GH�H[SORWDFLyQ�KD�VLGR�VHSDUDGR�HQ�HO�(%(�FRUUHVSRQGLHQWH�D�ORV�KRJDUHV��HV�GHFLU��HO�SURYHQLHQWH�GHO�WUDEDMR�SRU�FXHQWD�SURSLD��\�HQ�HO�(%(�FRUUHVSRQGLHQWH�D�ODV� HPSUHVDV�� TXH� LQFOX\H� WDPELpQ� OD� SURGXFFLyQ�PHUFDQWH� GH� ODV�$GPLQLVWUDFLRQHV�3~EOLFDV��(O�(%(�GH�ORV�KRJDUHV�VH�REWXYR�GH�ODV�FXHQWDV�GH�LQJUHVRV�\�JDVWRV�GHO�VHFWRU�LQVWLWXFLRQDO�+RJDUHV�

/RV�GDWRV�VH�HQFXHQWUDQ�D�SUHFLRV�FRUULHQWHV��GHELGR�D�TXH�HQ�OD�IXHQWH�SULPDULD�GH�ORV�GDWRV�QR�H[LVWHQ�FLIUDV�D�SUHFLRV�FRQVWDQWHV�SDUD�ORV�LQJUHVRV�GH�ORV�IDFWRUHV��

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR &HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�

Page 31: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV'DWRV�RILFLDOHV�GH�ODV�WDVDV�GH�FUHFLPLHQWR�LQWHUDQXDOHV�SDUD�HO�(FXDGRU�H[LVWHQ�D�SDUWLU�GH������1R� REVWDQWH�� HQ� HO� 6,,6(� HVWH� LQGLFDGRU� HVWi� GHILQLGR� SDUD� HO� SHUtRGR� ����������� /D� WDVD� GH�FUHFLPLHQWR�SURPHGLR�DQXDO�HVWi�FDOFXODGD�SDUD�ORV�SHUtRGRV���������������������������������\� ����������� /RV� GDWRV� FRUUHVSRQGLHQWHV� DO� SHUtRGR� ���������� WLHQHQ� FDUiFWHU� GHILQLWLYR�� D������� VHPLGHILQLWLYR�� \�D������������SURYLVLRQDO��6L�ELHQ� ORV�GDWRV�FRUUHVSRQGHQ�D�XQD�PLVPD�IXHQWH� \� VRQ� FRPSDUDEOHV�� VH� GHEH� WHQHU� HQ� FXHQWD� TXH� OD� SURGXFFLyQ� GH� ELHQHV� \� VHUYLFLRV�PHGLGD� SRU� HO� 3,%� GLILHUH� HQWUH� XQ� DxR� \� RWUR�� SXHVWR TXH� VH� SURGXFHQ� QXHYRV� ELHQHV��GHVDSDUHFHQ�RWURV�R�FDPELDQ�GH�FDOLGDG��SRU�OR�TXH�QR�VH�HVWDUtD�FRPSDUDQGR�OD�SURGXFFLyQ�GH�ORV� PLVPRV� ELHQHV� \� VHUYLFLRV�� HVSHFLDOPHQWH� FXDQGR� VH� DQDOL]DQ� SHUtRGRV� SURORQJDGRV� GH�WLHPSR��

2EVHUYDFLRQHV�(O�3,%�GHSHQGH�GH� ORV�SUHFLRV�GH�PHUFDGR�GH� ORV�SURGXFWRV��SRU� OR�TXH� ODV� WUDQVDFFLRQHV�TXH�VH�UHDOL]DQ�IXHUD�GH� OD�HFRQRPtD�PRQHWDULD��FRPR�HO� WUDEDMR�HQ�HO�KRJDU�� ORV� LQWHUFDPELRV�PHGLDQWH�WUXHTXH�\�OD�SURGXFFLyQ�GH�DXWRFRQVXPR��QR�VH�FRQVLGHUDQ�HQ�HO�3,%��(Q�HVWH�FDVR��VH VXEHVWLPD�HO�3,%�

(O�FiOFXOR�GHO�3,%�QR�FRQVLGHUD�ORV�FRVWRV�VRFLDOHV�GH�OD�FRQWDPLQDFLyQ�SURYRFDGRV�SRU�OD�DFWLYLGDG�HFRQyPLFD��VREUHVWLPDQGR�SRU�WDQWR�HVWD�PHGLGD��7DPSRFR�PLGH�ORV�ELHQHV�\�VHUYLFLRV�JHQHUDGRV�SRU�OD�GHQRPLQDGD�³HFRQRPtD�VXEWHUUiQHD´�R�³LQIRUPDO´��GHELGR�D�IDOWD�GH�GHFODUDFLyQ�\�R�VXEGHFODUDFLyQ��OR�TXH�UHGXQGD�HQ�XQD�VXEHVWLPDFLyQ��

(O�3,%�UHDO��DO�XWLOL]DU�SDUD�VX�FiOFXOR�ORV�SUHFLRV�GH�ORV�SURGXFWRV�HQ�XQ�DxR�EDVH��WLHQH�HO�SUREOHPD�GH�TXH�ORV�ELHQHV�FDPELDQ�GH�FDOLGDG�HQ�HO�WLHPSR��GHVDSDUHFHQ�R�VH�FUHDQ�QXHYRV��SRU�OR�TXH�QR�VHUtD�HO�PLVPR�SURGXFWR�HO�TXH�VH�HVWi�FRPSDUDQGR�HQ�GRV�SXQWRV�GHO�WLHPSR�

1R�VH�UHJLVWUDQ�HQ�ODV�UHPXQHUDFLRQHV�GH�ORV�HPSOHDGRV�D�ORV�WUDEDMDGRUHV�SRU�FXHQWD�SURSLD�QL�ORV�SURSLHWDULRV��R�VXV�IDPLOLDUHV��QR�UHPXQHUDGRV�FX\D�UHWULEXFLyQ�VH�FODVLILFD�FRPR�H[FHGHQWH�GH�H[SORWDFLyQ��(O�H[FHGHQWH�GH�H[SORWDFLyQ�LQFOX\H�WDPELpQ�OD�SDUWH�GHO�³VHFWRU�LQIRUPDO´�PHGLGD�HQ�OD�FRQWDELOLGDG�QDFLRQDO��QR�REVWDQWH��OD�LQFOXVLyQ�GH�HVWH�VHFWRU�HV�SDUFLDO��SRU�OR�TXH��D�SDUWLU�GH� ODV� &XHQWDV� QDFLRQDOHV�� QR� VH� SXHGHQ� REWHQHU� FRQFOXVLRQHV� DFHUFD� GH� VX� GLPHQVLyQ� \�WUDVFHQGHQFLD��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(� �0HWRGRORJtD�GH ELHQHV�\�VHUYLFLRV�� &XHQWDV�QDFLRQDOHV�GHO�(FXDGRU��4XLWR��%&(���1R������

�����'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������:25/'�%$1.��7UHQGV� LQ� 'HYHORSLQJ� (FRQRPLHV� ������:DVKLQJWRQ�� '�&��� 7KH�:RUOG�%DQN��

�����

Page 32: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�352'8&&,21

(VWUXFWXUD�GH�OD�(FRQRPtD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����'LVWULEXFLyQ�3ULPDULD�GHO�3,%����GHO�3,%�D�SUHFLRV�FRUULHQWHV�5HPXQHUDFLyQ�GH�ORV�(PSOHDGRV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����([FHGHQWH�%UXWR�GH�([SORWDFLyQ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

(%(�+RJDUHV��WUDEDMDGRUHV�SRU�FXHQWD�SURSLD� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� QG(%(�(PSUHVDV ��� ��� ���� ���� ���� ���� ���� ���� ��� ���� ���� QG

,PSXHVWRV�,QGLUHFWRV�1HWRV ��� ���� ���� ��� ���� ���� ���� ���� ���� ���� ���� ����

0 10 20 30 40 50 60 70 80 90 100

��������������������������������������������

'LWULEXFLyQ�SULPDULD�GHO�LQJUHVR��GHO�3,%

5HPXQHUDFLRQHV (%(�+RJDUHV (%(�HPSUHVDV

Page 33: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

���68%6(&725�$*5(*$'26�021(7$5,26����'LQHUR

6HFWRU(FRQRPtD

6XEVHFWRU$JUHJDGRV�PRQHWDULRV

)XQGDPHQWR(O�'LQHUR HV�FXDOTXLHU�PHUFDQFtD�DPSOLDPHQWH�DFHSWDGD�FRPR�XQ�PHGLR�GH�LQWHUFDPELR�\�PHGLGD�GH�YDORU�HQ�HO�SDJR�GH�ELHQHV�\�VHUYLFLRV�R�FRPR�GHVFDUJR�GH�GHXGDV�\�REOLJDFLRQHV��

(O�'LQHUR�VH�PLGH�SULQFLSDOPHQWH�D�WUDYpV�GH�WUHV�LQGLFDGRUHV��OD�EDVH�PRQHWDULD��GLQHUR�GH� DOWR� SRGHU� H[SDQVLYR��� HO�PHGLR� FLUFXODQWH� �0�� \� OD� OLTXLGH]� EDQFDULD� �0���� /D� EDVH�PRQHWDULD� �GLQHUR� GH� DOWR� SRGHU� H[SDQVLYR��HVWi� FRQVWLWXLGD� SRU� ODV� PRQHGDV� \� ELOOHWHV� HQ�FLUFXODFLyQ� HQ� OD� HFRQRPtD� \� ODV� UHVHUYDV� HQ� HIHFWLYR�TXH� HO� VLVWHPD�EDQFDULR� WLHQH� HQ� HO�%DQFR�&HQWUDO��/D�EDVH�PRQHWDULD�HV�XQ�SDVLYR�GHO�%DQFR�&HQWUDO�VREUH�HO�TXH�WLHQH�XQ�FRQWURO�GLUHFWR�\�PHGLDQWH�HO�FXDO� LQIOX\H�HQ� OD�RIHUWD�PRQHWDULD�GH� OD�HFRQRPtD� (O�PHGLR�FLUFXODQWH� �0�� HV� OD�OLTXLGH]� HQ� PRQHGD� QDFLRQDO� R�PHGLRV� GH� SDJR� D� GLVSRVLFLyQ� GHO� S~EOLFR�� 6H� FRQVWLWX\H� SRU� OD�VXPD�GHO�YDORU�GH�ODV�PRQHGDV�\�ELOOHWHV�HQ�FLUFXODFLyQ�HQ�OD�HFRQRPtD�\�ORV�GHSyVLWRV�D�OD�YLVWD�R�GHSyVLWRV�PRQHWDULRV�HQ�FXHQWDV�FRUULHQWHV�TXH�HO�S~EOLFR�PDQWLHQH�HQ�HO�VLVWHPD�EDQFDULR��(V�XQ�LQGLFDGRU�GHO�QLYHO�GH�RIHUWD�PRQHWDULD�GH�XQ�SDtV��/D�VLJOD�0��VH�FRPSRQH�GH�0�TXH�HV�OD�LQLFLDO�GH�³0RQH\´�\�GHO�Q~PHUR���TXH�VLJQLILFD�TXH�SXHGHQ�H[LVWLU�RWUDV�GHILQLFLRQHV�GHO�GLQHUR��TXH�SRU�OR� JHQHUDO� VH� GHWHUPLQDQ� HQ� IXQFLyQ� GH� VX� JUDGR� GH� OLTXLGH]�� HV� GHFLU�� GH� OD� PHQRU� R� PD\RU�GLILFXOWDG�SDUD�FRQYHUWLU�XQ�DFWLYR�LQPHGLDWDPHQWH�HQ�GLQHUR�HIHFWLYR�VLQ�SpUGLGD�GH�VX�YDORU�

/D�OLTXLGH]�EDQFDULD��0���HV�LJXDO�D�0��PiV�ORV�GHSyVLWRV�HQ�FXHQWDV�GH�DKRUUR��GHSyVLWRV�D� SOD]R�� RSHUDFLRQHV� GH� UHSRUWR� \� IRQGRV� HQ� WDUMHWDV� GH� FUpGLWR�PDQWHQLGRV� SRU� HO� S~EOLFR� HQ� HO�VLVWHPD�EDQFDULR�QDFLRQDO��0�� LQFOX\H��SRU� WDQWR��DFWLYRV�GH�PHQRU� OLTXLGH]��(V�XQ� LQGLFDGRU�GH�RIHUWD�PRQHWDULD�DPSOLDGD�

(O� FRHILFLHQWH�50,�0� PLGH� HO� JUDGR� HQ� TXH� OD�5HVHUYD�0RQHWDULD� ,QWHUQDFLRQDO� SXHGH�KDFHU�IUHQWH�D�XQ�SRVLEOH�³DWDTXH�DO�GyODU´�SRU�SDUWH�GH�ORV�DJHQWHV�HFRQyPLFRV��(Q�DPELHQWHV�GH�JUDQ�LQFHUWLGXPEUH�R�SRU�PRWLYRV�HVSHFXODWLYRV�HO�S~EOLFR�SXHGH�GHVHDU�FDPELDU�VXV�WHQHQFLDV�GH�GLQHUR�HQ�PRQHGD�QDFLRQDO�D�PRQHGD�H[WUDQMHUD��OR�TXH�EDMR�VLVWHPDV�GH�WLSR�GH�FDPELR�ILMR�R�GH�EDQGDV�FDPELDULDV�LPSOLFD�TXH�HO�%DQFR�&HQWUDO�GHILHQGD�HO�WLSR�GH�FDPELR�YHQGLHQGR�GyODUHV��OR�TXH� SURYRFD� XQD� GLVPLQXFLyQ� HQ� HO� QLYHO� GH� UHVHUYDV� LQWHUQDFLRQDOHV�� (O� %DQFR� &HQWUDO� HVWDUi�GLVSXHVWR� D� SHUGHU� OD� 50,� GHIHQGLHQGR� OD� GLYLVD� VROR� KDVWD� XQ� QLYHO� GHWHUPLQDGR�� 0�� HV�DSUR[LPDGDPHQWH�HO�QLYHO�GH� WHQHQFLDV�GH�GLQHUR�HQ�PRQHGD�QDFLRQDO�TXH�SRWHQFLDOPHQWH�SRGUtD�FDPELDUVH�D�GyODUHV��/D�50,�HV�HO�QLYHO� WRWDO�GH� UHFXUVRV�GHO�%DQFR�&HQWUDO�TXH�SRWHQFLDOPHQWH�SRGUtD�XWLOL]DU�SDUD�GHIHQGHU�OD�HVWDELOLGDG�GHO�WLSR�GH�FDPELR��3RU�WDQWR��PLHQWUDV�PiV�DOWR�VHD�HO�FRHILFLHQWH� 50,�0��� PD\RU� HV� OD� FDSDFLGDG� GHO� %DQFR� &HQWUDO� GH� KDFHU� IUHQWH� D� DWDTXHV�HVSHFXODWLYRV�\�YLFHYHUVD�

(O�FRHILFLHQWH�0��0�PLGH�HO�JUDGR�GH� LQWHUPHGLDFLyQ� ILQDQFLHUD�HQ�HO�SDtV�� HV�GHFLU�� OD�LPSRUWDQFLD�GH�DFWLYRV� ILQDQFLHURV�\�PHGLRV�GH�SDJR�GLIHUHQWHV�D� ORV� LQFOXLGRV�HQ�0���FRPR�SRU�HMHPSOR��GHSyVLWRV�D�SOD]R��SyOL]DV�GH�DFXPXODFLyQ�� WDUMHWDV�GH�FUpGLWR��HWF���TXH�VRQ�PDQHMDGRV��SRU�OR�JHQHUDO��SRU�HO�VHFWRU�ILQDQFLHUR�SULYDGR�

'HILQLFLyQ(Q�HO�6,,6(��OD�EDVH�PRQHWDULD��HO�PHGLR�FLUFXODQWH�\�OD�OLTXLGH]�EDQFDULD�FRQWLHQHQ�ORV�VDOGRV�DO����GH�GLFLHPEUH�GH�FDGD�DxR��H[SUHVDGRV�HQ�PLOHV�GH�PLOORQHV�GH�VXFUHV��OR�TXH�GD�FXHQWD�GHO�VWRFN�GH�GLQHUR�HQ�WpUPLQRV�QRPLQDOHV�(VWRV�LQGLFDGRUHV�WDPELpQ�VH�H[SUHVDQ�FRPR�SRUFHQWDMH�GHO�3,%D�ILQ�GH�UHODFLRQDU�HO�YROXPHQ�GH�GLQHUR�FRQ�HO�WDPDxR�GH�OD�HFRQRPtD��OR�TXH�SHUPLWH�KDFHU�FRPSDUDFLRQHV�HQ�HO�WLHPSR�\�FRQ�RWURV�SDtVHV��

' 03,%�� ���

Page 34: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

' 03,%�� ���

GRQGH�'� HV�HO�FRHILFLHQWH�GHO�PHGLR�FLUFXODQWH�FRPR�SRUFHQWDMH�GHO�3,%��'� HV�HO�FRHILFLHQWH�GH�OD�OLTXLGH]�EDQFDULD�FRPR�SRUFHQWDMH�GHO�3,%��0��\�0��VRQ�ORV�VDOGRV�GH�GLQHUR�DO����GH�GLFLHPEUH�GH�FDGD�DxR�H[SUHVDGRV�HQ PLOHV�GH�PLOORQHV�GH�VXFUHV��3,%�HV�HO�3URGXFWR�,QWHUQR�%UXWR�HQ�PLOHV�GH�PLOORQHV�GH�VXFUHV�FRUULHQWHV��8Q�DXPHQWR�GHO�FRHILFLHQWH�VLJQLILFD�TXH�HO� VWRFN�GH�GLQHUR�KD�FUHFLGR�PiV�UiSLGR�TXH�HO�FUHFLPLHQWR�GH�ORV�SUHFLRV�\�OD�SURGXFFLyQ�GH�OD�HFRQRPtD��

(O�FRHILFLHQWH�50,�0��VH�REWLHQH�GH�OD�VLJXLHQWH�PDQHUD�' 50,

0� � ��� GRQGH�'� HV�HO�FRHILFLHQWH�GH�OD�5HVHUYD�0RQHWDULD�,QWHUQDFLRQDO�FRPR�SRUFHQWDMH�GHO�3,%��50,�HV�OD�5HVHUYD�0RQHWDULD�,QWHUQDFLRQDO�HQ�PLOHV�GH�PLOORQHV�GH�VXFUHV�\�0��HV�HO�VDOGR�GH�GLQHUR�D�ILQ�GH�SHUtRGR�HQ�PLOHV�GH�PLOORQHV�GH�VXFUHV��

(O�FRHILFLHQWH�0��0��VH�REWLHQH�GH�OD�VLJXLHQWH�PDQHUD�

��� 0

0' GRQGH�'� HV�HO�FRHILFLHQWH�GH�LQWHUPHGLDFLyQ�ILQDQFLHUD��0��\�0��VRQ�ORV�VDOGRV�GH�GLQHUR�D�ILQ�GH�SHUtRGR�HQ�PLOHV�GH�PLOORQHV�GH�VXFUHV��

6H�LQFOX\HQ�WDPELpQ�ODV�WDVDV�GH�FUHFLPLHQWR�LQWHUDQXDOHV�SDUD�HO�SHUtRGR�����������\�ODV�WDVDV�GH�FUHFLPLHQWR�SURPHGLR�DQXDO�SDUD�ORV�SHUtRGRV���������������������������������\������������

/D� WDVD�GH�FUHFLPLHQWR�DQXDO�GHO�GLQHUR VH�FDOFXOD�PHGLDQWH� OD� YDULDFLyQ�SRUFHQWXDO� GH�0��R�0��HQWUH�XQ�DxR�\�HO�DxR�LQPHGLDWR�DQWHULRU�DSOLFDQGR�OD�VLJXLHQWH�IyUPXOD�

WFL 00

W

W �§©̈

·¹̧� �� ���

GRQGH�WFL�HV�OD�WDVD�GH�FUHFLPLHQWR�DQXDO�GHO�GLQHUR�\�0 HV�0��R�0��VHJ~Q�FRUUHVSRQGD�/D� WDVD� GH� FUHFLPLHQWR� SURPHGLR� DQXDO� GHO� GLQHUR FRUUHVSRQGLHQWH� D� XQ� SHUtRGR� GH�

WLHPSR�VH�FDOFXOD�D�WUDYpV�GH�XQ�PRGHOR�GH�FUHFLPLHQWR�JHRPpWULFR��XWLOL]DQGR�XQD�UHJUHVLyQ�OLQHDO�SRU�HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV��

0 0 U WW �� � � �VH�REWLHQH�OD�WUDQVIRUPDFLyQ�ORJDUtWPLFD�GH�OD�H[SUHVLyQ�DQWHULRU�

OQ 0 D E W �GRQGH�0 HV�0��R�0��VHJ~Q�FRUUHVSRQGD��W HV�HO�WLHPSR��D �OQ�0���E �OQ����U��\�U HV�OD�WDVD�GH�FUHFLPLHQWR�LQVWDQWiQHD�GHO�SHUtRGR��&RQ�HVWD�HVSHFLILFDFLyQ�VH�XWLOL]D�XQD�UHJUHVLyQ�OLQHDO�SRU�HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV�SDUD�HVWLPDU�D \�E��HQ�OD�TXH�OD�YDULDEOH�GHSHQGLHQWH�HV�HO�ORJDULWPR�QDWXUDO�GH�0 \�OD�YDULDEOH�LQGHSHQGLHQWH�HV�HO�WLHPSR�

8QD�YH]�HVWLPDGRV�ORV�SDUiPHWURV�D \�E�� SDUD�REWHQHU�U VH�GHEH�FDOFXODU�HO�DQWLORJDULWPR�GH�E \ UHVWDUOH����GHELGR�D�TXH�E HV�OD�WDVD�GH�FUHFLPLHQWR�LQVWDQWiQHD�\�OR�TXH�VH�GHVHD�REWHQHU�HV�OD�WDVD�GH�FUHFLPLHQWR�SURPHGLR�DQXDO�GHO�SHUtRGR�

� �U HE �� ��� /D�WDVD�GH�FUHFLPLHQWR�GHO�GLQHUR�VH�XWLOL]D�SDUD�FRPSDUDU�FRQ�OD�WDVD�GH�LQIODFLyQ��

0HGLGD%DVH�PRQHWDULD0LOHV�GH�PLOORQHV�GH�VXFUHV�DO����GH�GLFLHPEUH�GH�FDGD�DxR

3RUFHQWDMH�GHO�3,%0�0LOHV�GH�PLOORQHV�GH�VXFUHV�DO����GH�GLFLHPEUH�GH�FDGD�DxR

3RUFHQWDMH�GHO�3,%7DVD�GH�FUHFLPLHQWR

0�0LOHV�GH�PLOORQHV�GH�VXFUHV�DO����GH�GLFLHPEUH�GH�FDGD�DxR3RUFHQWDMH�GHO�3,%7DVD�GH�FUHFLPLHQWR

50,�0�3RUFHQWDMH

Page 35: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

0��0�3URSRUFLyQ)XHQWHV�GH�ORV�GDWRV�SULPDULRV

%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�����������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV������ ������TXLQTXHQDO������� ������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

2EVHUYDFLRQHV�/RV� GDWRV� SDUD� HO� SHUtRGR� DQDOL]DGR� HQ� HO� 6,,6(�� ����������� VRQ� FRPSDUDEOHV�� GHELHQGR�FRQVLGHUDUVH� TXH� SDXODWLQDPHQWH HQ� HVWH� ODSVR� GH� WLHPSR� KDQ� DSDUHFLGR� QXHYRV� DFWLYRV� H�LQVWUXPHQWRV� ILQDQFLHURV�HQ�OD�HFRQRPtD��FRPR��SRU�HMHPSOR�� ODV� WDUMHWDV�GH�FUpGLWR�\�ORV�FDMHURV�DXWRPiWLFRV��OR�TXH�DIHFWD�HVSHFLDOPHQWH�D�0���

/D�GHILQLFLyQ�GH�GLQHUR�0���H[FOX\HQGR� ORV�GHSyVLWRV�HQ�FXHQWDV�FRUULHQWHV� �FKHTXHV��� VH�XWLOL]D�SDUD�HVWLPDU�HO�WDPDxR�GH�OD�³HFRQRPtD�VXEWHUUiQHD´��HQ�HVSHFLDO�GH�ODV�DFWLYLGDGHV�LOHJDOHV��EDMR�HO�DUJXPHQWR�GH�TXH�pVWDV�XWLOL]DQ�GLQHUR�HQ�HIHFWLYR�FRPR�PHGLR�GH�SDJR�D�ILQ�GH�QR�GHMDU�UDVWURV�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO�4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(� �0HWRGRORJtD�GH�ELHQHV�\�VHUYLFLRV�� &XHQWDV�QDFLRQDOHV�GHO�(FXDGRU��4XLWR��%&(���1R������

�����%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�

(GLWRUHV�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 36: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�$*5(*$'26�021(7$5,26

'LQHUR ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0LOHV�GH�0LOORQHV�GH�6XFUHV0� ��� ��� ���� ���� ����� ����� ������� ������� ������� ������� ������� ������� ������� �������0� ��� ��� ���� ���� ����� ������� ������� ������� ������� ������� �������� �������� �������� ��������%DVH�0RQHWDULD ��� ��� ���� ���� ���� ����� ����� ������� ������� ������� ������� ������� ������� ���������GHO�3,%0� ����� ����� ����� ����� ����� ���� ���� ���� ���� ���� ���� ���� ���� ����0� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����%DVH�0RQHWDULD ���� ����� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

50,�0� ����� ����� ����� ����� ���� ����� ����� ����� ����� ����� ����� ����� ����� �����0��0� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

��������� ��������� ��������� ��������� ��������� ���� ���� ���� ���� ���� ���� ���� ���� ����

7DVD�GH�FUHFLPLHQWR�GH 0� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����7DVD�GH�FUHFLPLHQWR�GH�0� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

Page 37: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����7DVDV�GH�LQWHUpV�GRPpVWLFDV

6HFWRU(FRQRPtD

6XEVHFWRU$JUHJDGRV�PRQHWDULRV

)XQGDPHQWR/D� WDVD�GH� LQWHUpV PLGH� OD� FDQWLGDG�DGLFLRQDO�GH�GLQHUR�R�GH�ELHQHV�TXH� VH�SXHGH�REWHQHU�HQ�HO�IXWXUR�VL�VH�DKRUUD�XQ�VXFUH�KR\��/DV�WDVDV�GH�LQWHUpV�SXHGHQ�FODVLILFDUVH�HQ�QRPLQDOHV�R�UHDOHV�\�HQ�DFWLYDV�R�SDVLYDV��

/D�WDVD�GH�LQWHUpV�QRPLQDO�PLGH�OD�FDQWLGDG�GH�GLQHUR DGLFLRQDO TXH�VH�SXHGH�REWHQHU�HQ�HO� IXWXUR� SRU� HO� DKRUUR� GH� XQ� VXFUH� KR\�� /D� WDVD� GH� LQWHUpV� UHDO PLGH� OD� FDQWLGDG� GH� ELHQHV�DGLFLRQDOHV�TXH�VH�SXHGHQ�DGTXLULU�HQ�HO�IXWXUR�FRQ�HO�GLQHUR�DGLFLRQDO�REWHQLGR�SRU�HO�DKRUUR�GH�XQ�VXFUH�KR\�

/D� WDVD� GH� LQWHUpV� VREUH� SUpVWDPRV� R� DFWLYD HV� OD� WDVD� GH� LQWHUpV� TXH� FREUDQ� ODV�LQVWLWXFLRQHV� ILQDQFLHUDV�D�TXLHQHV�FRQWUDWDURQ�XQ�FUpGLWR�FRQ�pVWDV��(V�XQ� LQGLFDGRU�GHO�FRVWR�GH�HQGHXGDUVH��SRU� OR�TXH�� WDVDV�GH� LQWHUpV�DFWLYDV�PiV�DOWDV�GHVHVWLPXODUtDQ�HO�HQGHXGDPLHQWR��/DV�GHFLVLRQHV�GH�LQYHUVLyQ�GH�ORV�DJHQWHV�HFRQyPLFRV�GHSHQGHQ�GH�HVWD�WDVD��/D�WDVD�GH�LQWHUpV�VREUH�GHSyVLWRV� R� SDVLYD HV� OD� WDVD�GH� LQWHUpV�TXH�SDJDQ� ODV� LQVWLWXFLRQHV� ILQDQFLHUDV�D�TXLHQHV� WLHQHQGHSyVLWRV� HQ� pVWDV�� (V� XQ� LQGLFDGRU� GHO� UHQGLPLHQWR� TXH� VH� REWHQGUtD� HQ� XQD� IHFKD� IXWXUD� SRU�VDFULILFDU�XQ� VXFUH�GH�FRQVXPR�KR\��3RU� WDQWR�� WDVDV�GH� LQWHUpV�SDVLYDV�PiV�DOWDV�HVWLPXODUtDQ�HO�DKRUUR�

(O�PDUJHQ� ILQDQFLHUR HV� OD� GLIHUHQFLD� HQWUH� OD� WDVD� GH� LQWHUpV� DFWLYD� \� OD� WDVD� GH� LQWHUpV�SDVLYD��(V�XQ�LQGLFDGRU�GHO�EHQHILFLR�QHWR�GH�ODV�LQVWLWXFLRQHV�ILQDQFLHUDV�SRU�FDGD�VXFUH�SUHVWDGR��

'HILQLFLyQ(Q�HO�6,,6(� OD� WDVD�GH� LQWHUpV� DFWLYD FRUUHVSRQGH�DO�SURPHGLR�SRQGHUDGR�� D�GLFLHPEUH�GH�FDGD�DxR��GH�OD�WDVDV�GH�LQWHUpV�DFWLYDV�GH�OLEUH�FRQWUDWDFLyQ�GH�ORV�EDQFRV�SULYDGRV�D�XQ�SOD]R�GH�HQWUH����\����GtDV���

/D�WDVD�GH� LQWHUpV�SDVLYD� FRUUHVSRQGH�DO�SURPHGLR�SRQGHUDGR��D�GLFLHPEUH�GH�FDGD�DxR��GH�ODV�WDVDV�GH�LQWHUpV�SDVLYDV�GH�OLEUH�FRQWUDWDFLyQ�GH�ORV�EDQFRV SULYDGRV�D�XQ�SOD]R�GH�HQWUH����\����GtDV��

(O�PDUJHQ�ILQDQFLHUR VH�FDOFXOD�UHVWDQGR�OD�WDVD�GH�LQWHUpV�DFWLYD�PHQRV�OD�WDVD�GH�LQWHUpV�SDVLYD�

PI L LD S �GRQGH�PI�HV�HO�PDUJHQ�ILQDQFLHUR��LD HV�OD�WDVD�GH�LQWHUpV�DFWLYD�H�LS HV�OD�WDVD�GH�LQWHUpV�SDVLYD��/DV�WDVDV�GH�LQWHUpV�UHDOHV�VH�FDOFXODQ�GH�OD�VLJXLHQWH�PDQHUD�

U L ��

§©̈

·¹̧ �

�� �

SGRQGH�U HV�OD�WDVD�GH�LQWHUpV�UHDO��L HV�OD�WDVD�GH�LQWHUpV�QRPLQDO�D�GLFLHPEUH�GH�FDGD�DxR�\�S HV�OD�WDVD�GH�LQIODFLyQ�DQXDO�D GLFLHPEUH�GH�FDGD�DxR�

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�����������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV���������

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(� 6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������

Page 38: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��0F*UDZ�+LOO�������

/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�(GLWRUHV�������

6$&+6� -HIIUH\�\�/$55$Ë1��)HOLSH��0DFURHFRQRPtD�HQ�OD�HFRQRPtD�JOREDO��3ULPHUD�HGLFLyQ��0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

7DVDV�GH�LQWHUpV�UHDOHV

�����

�����

�����

���

����

����

����

����

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

$FWLYD 3DVLYD

Page 39: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�$*5(*$'26�021(7$5,26

7DVDV�GH�,QWHUpV�'RPpVWLFD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����1RPLQDOHV6REUH�&UpGLWRV��$FWLYD� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����6REUH�'HSyVLWRV��3DVLYD� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0DUJHQ ��� ��� ��� ���� ��� ���� ���� ��� ���� ���� ���� ����5HDOHV6REUH�&UpGLWRV��$FWLYD� ��� ����� ���� ��� ��� ���� ��� ���� ���� ���� ��� ����6REUH�'HSyVLWRV��3DVLYD� ���� ����� ���� ���� ���� ����� ���� ���� ���� ��� ���� ���

Page 40: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

���68%6(&725�,1)/$&,21����,QIODFLyQ

6HFWRU(FRQRPtD

6XEVHFWRU,QIODFLyQ

)XQGDPHQWR/D�LQIODFLyQ�PLGH�HO�SRUFHQWDMH�GH�YDULDFLyQ GHO�QLYHO�GH�SUHFLRV�HQ�OD�HFRQRPtD��/RV�SUHFLRV VRQ�OD�WDVD�D�OD�TXH�VH�SXHGHQ�LQWHUFDPELDU�GLQHUR�SRU�ELHQHV��HV�GHFLU��VL�SRU�HMHPSOR��XQ�GHWHUPLQDGR�ELHQ� WLHQH� XQ� SUHFLR� GH� ���� VXFUHV�� VH� QHFHVLWDUiQ� LQWHUFDPELDU� ���� XQLGDGHV� PRQHWDULDV� SDUD�REWHQHU� XQD� XQLGDG� GH� HVH� ELHQ�� 6L� HO� SUHFLR� GHO� ELHQ� DXPHQWD� D� ���� VXFUHV�� VLJQLILFD� TXH� VH�UHTXLHUHQ�����XQLGDGHV�PRQHWDULDV�SDUD�REWHQHU�XQD�XQLGDG�GH�HVH�ELHQ��SRU�OR�TXH�DKRUD�FRQ�����XQLGDGHV�PRQHWDULDV�\D�QR�VH�SXHGH�REWHQHU�XQD�XQLGDG�GHO�ELHQ��3RU�WDQWR�� OD� LQIODFLyQ�SURYRFD�XQD�GLVPLQXFLyQ�GHO�SRGHU�DGTXLVLWLYR�GH�OD�PRQHGD��HQ�HVWH�FDVR��GHO�VXFUH��

/D� PHGLGD� GH� LQIODFLyQ� PiV� XVDGD� HV� OD� YDULDFLyQ� SRUFHQWXDO� GHO� tQGLFH� GH� SUHFLRV� DO�FRQVXPLGRU��,3&��R�GHIODFWRU�GH�SUHFLRV�GHO�JDVWR�GH�FRQVXPR��TXH�HV�XQ�SURPHGLR�SRQGHUDGR�GH�ORV�SUHFLRV�GH�XQD�FDQDVWD�GH�ELHQHV�\�VHUYLFLRV�FRQVXPLGD�SRU�XQD� IDPLOLD�UHSUHVHQWDWLYD�GHO�iUHD� XUEDQD�� GH� LQJUHVRV� PHGLRV� \� EDMRV�� (Q� HO� (FXDGRU�� DFWXDOPHQWH� HO� DxR� EDVH� GHO� ,3&� HV�VHSWLHPEUH� GH� ����� � DJRVWR� GH� ������ (O� WpUPLQR� GHIODFWRU VH� UHILHUH� D� TXH� VH� XWLOL]D� SDUD�WUDQVIRUPDU� D� SUHFLRV� GH� XQ� DxR� EDVH� �SUHFLRV� FRQVWDQWHV�� XQD� YDULDEOH� H[SUHVDGD� HQ� SUHFLRV�FRUULHQWHV�

2WUD�PHGLGD�GH� LQIODFLyQ�HV� OD�YDULDFLyQ�SRUFHQWXDO�GHO�GHIODFWRU� LPSOtFLWR�GHO�SURGXFWR�LQWHUQR�EUXWR� TXH� VH�REWLHQH�GLYLGLHQGR�HO�3,% QRPLQDO� SDUD�HO�3,%� UHDO��(VWH�HV� XQ� tQGLFH�GH�SUHFLRV�SDUD�OD�SURGXFFLyQ�WRWDO�GH�ELHQHV�\�VHUYLFLRV�GH�OD�HFRQRPtD��

(Q� HO� 6,,6( VH� LQFOX\H� WDPELpQ� OD� YDULDFLyQ� SRUFHQWXDO� GHO� GHIODFWRU� LPSOtFLWR� GHO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV��TXH�VH�FDOFXOD�GLYLGLHQGR�HO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV�D�SUHFLRV�FRUULHQWHV�SDUD�HO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV�D�SUHFLRV�FRQVWDQWHV��(VWH�HV�XQ�tQGLFH�GH�SUHFLRV�GHO�JDVWR�GH�FRQVXPR�GH� WRGDV� ODV� IDPLOLDV�GHO�SDtV�� LQFOXLGDV� ODV�GH� LQJUHVRV�DOWRV��HQ� WRGRV� ORV�ELHQHV� \� VHUYLFLRV� ILQDOHV� SURGXFLGRV� HQ� OD� HFRQRPtD� GHVWLQDGRV� D� VDWLVIDFHU� ODV� QHFHVLGDGHV�LQGLYLGXDOHV��

/RV�GHIODFWRUHV�LPSOtFLWRV�VH�REWLHQHQ�GH�ODV�&XHQWDV�QDFLRQDOHV \�VX�DxR�EDVH�HV�������(O�WpUPLQR� LPSOtFLWR VH� UHILHUH�D� OD� IRUPD� LQGLUHFWD�GH�VX�FiOFXOR��D�GLIHUHQFLD�GHO� ,3&�HQ�HO�TXH�VH�UHDOL]D� GH�PDQHUD� SHULyGLFD� HO� VHJXLPLHQWR� \� UHJLVWUR� GH� ORV� SUHFLRV� GH� XQD� FDQDVWD� GH� ELHQHV� \�VHUYLFLRV�SUHGHWHUPLQDGD��$XQTXH� HO� ,3&� \� HO� GHIODFWRU� LPSOtFLWR� GHO� FRQVXPR� ILQDO� GH� ORV� KRJDUHV� PLGHQ� ORV� QLYHOHV� GH�SUHFLRV�GH�ORV�ELHQHV�GHPDQGDGRV�SRU�ODV�IDPLOLDV��QR�VRQ�HVWULFWDPHQWH�FRPSDUDEOHV�GHELGR�D�TXH�VXV�DxRV�EDVH��VX�FREHUWXUD�\�VX�PHWRGRORJtD�VRQ�GLIHUHQWHV��FRPR�VH�H[SOLFy�DQWHULRUPHQWH���

'HILQLFLyQ/D�WDVD�GH�LQIODFLyQ�LQWHUDQXDOVH�FDOFXOD�PHGLDQWH�OD�YDULDFLyQ�SRUFHQWXDO�GHO�,3&��GHO�GHIODFWRU�LPSOtFLWR�GHO�3,% R�GHO�GHIODFWRU�LPSOtFLWR�GHO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV�HQWUH�XQ�DxR�\�HO�DxR�LQPHGLDWR�DQWHULRU�DSOLFDQGR�OD�VLJXLHQWH�IyUPXOD�

WFL <<

W

W �§©̈

·¹̧� �� ���

GRQGH� WFL� HV� OD� WDVD� GH� LQIODFLyQ� LQWHUDQXDO� \� < HV� HO� ,3&�� HO� GHIODFWRU� LPSOtFLWR� GHO� 3,% R� HO�GHIODFWRU�LPSOtFLWR�GHO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV��VHJ~Q�FRUUHVSRQGD�

/D�WDVD�GH�LQIODFLyQ�SURPHGLR�DQXDOFRUUHVSRQGLHQWH�D�XQ�SHUtRGR�GH�WLHPSR�VH�FDOFXOD�D�WUDYpV�GH�XQ�PRGHOR�GH�FUHFLPLHQWR�JHRPpWULFR��XWLOL]DQGR�XQD�UHJUHVLyQ�OLQHDO�SRU�HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV�

< < U WW �� � � �VH�REWLHQH�OD�WUDQVIRUPDFLyQ�ORJDUtWPLFD�GH�OD�H[SUHVLyQ�DQWHULRU�OQ < D E W �GRQGH�< HV�HO�,3&��HO�GHIODFWRU�LPSOtFLWR�GHO 3,% R�HO�GHIODFWRU�LPSOtFLWR�GHO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV�� W HV�HO� WLHPSR��D �OQ�<R��E �OQ����U��\�U HV�OD� WDVD�GH�FUHFLPLHQWR�SURPHGLR�DQXDO�GHO�

Page 41: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

SHUtRGR�� &RQ� HVWD� HVSHFLILFDFLyQ� VH� XWLOL]D� XQD� UHJUHVLyQ� OLQHDO� SRU� HO� PpWRGR� GH� PtQLPRV�FXDGUDGRV�SDUD�HVWLPDU�D \�E�� HQ� OD�TXH� OD�YDULDEOH�GHSHQGLHQWH�HV� HO� ORJDULWPR�QDWXUDO� ,3&��GHO�GHIODFWRU� LPSOtFLWR� GHO� 3,% R� GHO� GHIODFWRU� LPSOtFLWR� GHO� FRQVXPR� ILQDO� GH� ORV� KRJDUHV�� VHJ~Q�FRUUHVSRQGD��\�OD�YDULDEOH�LQGHSHQGLHQWH�HV�HO�WLHPSR�

8QD�YH]�HVWLPDGRV�ORV�SDUiPHWURV�D \�E�� SDUD�REWHQHU�U VH�GHEH�FDOFXODU�HO�DQWLORJDULWPR�GH�E \�UHVWDUOH����GHELGR�D�TXH�E HV�OD�WDVD�GH�FUHFLPLHQWR�LQVWDQWiQHD�\�OR�TXH�VH�GHVHD�REWHQHU�HV�OD�WDVD�GH�FUHFLPLHQWR�SURPHGLR�DQXDO�GHO�SHUtRGR�

U HE �� � � ���0HGLGD

3RUFHQWDMH)XHQWHV�GH�ORV�GDWRV�SULPDULRV

%DQFR�&HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV��%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO�

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV6H�GHEH�FRQVLGHUDU�TXH�HQ�HO�SHUtRGR�GH�DQiOLVLV�LQFOXLGR�HQ�HO�6,,6(�������������SDUD�HO�FiOFXOR�GHO� ,3&�� KDQ� H[LVWLGR� WUHV� FDQDVWDV� GH� ELHQHV� \� VHUYLFLRV�� DxR� EDVH� ������ DxR� EDVH� DEULO� ����� �PD\R�������\��DxR�EDVH�DJRVWR������� VHSWLHPEUH�������(QWUH�XQD�\�RWUD�FDQDVWD�H[LVWHQ�FDPELRV�HQ�OD�FREHUWXUD�GH�ELHQHV�\�VHUYLFLRV�\�HQ�ODV�SRQGHUDFLRQHV��

(Q�HO�FDVR�GH�ORV�GHIODFWRUHV�LPSOtFLWRV�GHO�3,% \�GHO�FRQVXPR�ILQDO�GH�ORV�KRJDUHV�VH�GHEH�WHQHU�HQ�FXHQWD�TXH�OD�SURGXFFLyQ�GH�ELHQHV�\�VHUYLFLRV�PHGLGD�SRU�HO�3,% GLILHUH�HQWUH�XQ�DxR�\�RWUR��SXHVWR�TXH�VH�SURGXFHQ�QXHYRV�ELHQHV��GHVDSDUHFHQ�RWURV�R�FDPELDQ�GH�FDOLGDG��SRU�OR�TXH�QR�VH�HVWDUtD�FRPSDUDQGR�OD�YDULDFLyQ�HQ�ORV�SUHFLRV�GH�ORV�PLVPRV�ELHQHV�\�VHUYLFLRV��HVSHFLDOPHQWH�FXDQGR�VH�DQDOL]DQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR��

2EVHUYDFLRQHV�/D� LQIODFLyQ� DIHFWD� SULQFLSDOPHQWH� D� ORV� JUXSRV� PiV� SREUHV� GH� OD� SREODFLyQ�� GHELGR� D� TXH�GLVPLQX\H�OD�FDSDFLGDG�DGTXLVLWLYD�GH�VXV�LQJUHVRV�PRQHWDULRV�\�D�TXH�VX�SRVLELOLGDG�GH�DKRUUR�HV�OLPLWDGD��SRU�OR�TXH�QR�SXHGHQ�SURWHJHU�VX�GLQHUR�LQYLUWLHQGR�HQ�RWURV�DFWLYRV�ILQDQFLHURV�TXH�QR�SLHUGDQ�VX�YDORU��6LQ�HPEDUJR��HVWR�QR�VLJQLILFD�TXH�XQD�SROtWLFD�HFRQyPLFD�DQWL�LQIODFLRQDULD�VHD�VXILFLHQWH�SDUD�GLVPLQXLU�OD�SREUH]D��GHELHQGR��PiV�ELHQ��FRPSOHPHQWDUVH�FRQ�OD�SROtWLFD�VRFLDO��

/D� GLVPLQXFLyQ� GH� OD� LQIODFLyQ� VLJQLILFD� TXH� OD� WDVD� GH� FUHFLPLHQWR� GH� ORV� SUHFLRV� VH� KD�UHGXFLGR�\�QR�TXH�ORV�SUHFLRV�KDQ�GLVPLQXLGR��(VWD�HV�XQD�FRQIXVLyQ�KDELWXDO�GH�LQWHUSUHWDFLyQ�HQ�DPSOLRV�JUXSRV�GH�OD�SREODFLyQ��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(� �0HWRGRORJtD�GH�ELHQHV�\�VHUYLFLRV�� &XHQWDV�QDFLRQDOHV�GHO�(FXDGRU��4XLWR��%&(���1R������

�����%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�

(GLWRUHV�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 42: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�,1)/$&,21

��������� ��������� ��������� ��������� ��������� ���� ���� ���� ���� ���� ���� ���� ���� ����

,QIODFLyQ9DULDFLRQHV�3RUFHQWXDOHV

,3&�3URPHGLR ���� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����'HIODFWRU�GHO�&RQVXPR�GH�ORV�+RJDUHV ���� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����'HIODFWRU�GHO�3,% ���� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

,QIODFLyQ

��

���

���

���

���

���

���

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

,3& 'HIODFWRU�GHO�3,%

Page 43: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

���68%6(&725�&20(5&,2�(;7(5,25

����%DODQ]D�FRPHUFLDO�\�6DOGR�HQ�FXHQWD�FRUULHQWH

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/D�%DODQ]D�FRPHUFLDOPLGH�HO�VDOGR�QHWR��SRVLWLYR�R�QHJDWLYR��GH�ODV�H[SRUWDFLRQHV�GH�ELHQHV�GH�XQ� SDtV� DO� UHVWR� GHO�PXQGR�PHQRV� VXV� LPSRUWDFLRQHV� GH� ELHQHV� GHVGH� HO� UHVWR� GHO�PXQGR� HQ� XQ�SHUtRGR�GHWHUPLQDGR��1R�LQFOX\H�OD�SUHVWDFLyQ�QL�OD�FRQWUDWDFLyQ�GH�VHUYLFLRV�DO�\�FRQ�HO�H[WHULRU��FRPR�SRU�HMHPSOR��WUDQVSRUWH��VHJXURV�R�LQWHUHVHV��

(Q�HO�FDVR�GHO�(FXDGRU��GDGD�OD�LPSRUWDQFLD�GH�ODV�H[SRUWDFLRQHV�SHWUROHUDV�HQ�OD�HFRQRPtD��HV�QHFHVDULR�VHSDUDU� OD�EDODQ]D�FRPHUFLDO�HQ�SHWUROHUD�\�QR�SHWUROHUD��D� ILQ�GH� WHQHU�XQD� LGHD�GHO�GHVHQYROYLPLHQWR� GH� ODV� WUDQVDFFLRQHV� QHWDV� FRQ� HO� H[WHULRU� GH� ORV� VHFWRUHV� QR� SHWUROHURV� GH� OD�HFRQRPtD�

/D�%DODQ]D� FRPHUFLDO� SHWUROHUDPLGH� HO� VDOGR� QHWR� GH� ODV� H[SRUWDFLRQHV� GH� SHWUyOHR� \�GHULYDGRV� GHO� SHWUyOHR� GHO� SDtV� DO� UHVWR� GHO� PXQGR� PHQRV� ODV� LPSRUWDFLRQHV� GH� GHULYDGRV� GH�SHWUyOHR�GHVGH�HO�UHVWR�GHO�PXQGR�HQ�XQ�SHUtRGR�GHWHUPLQDGR��

/D�%DODQ]D� FRPHUFLDO� QR� SHWUROHUD�PLGH� HO� VDOGR� QHWR� GH� ODV� H[SRUWDFLRQHV� GH� ELHQHV��GLVWLQWRV�GHO�SHWUyOHR��GHO�SDtV�DO�UHVWR�GHO�PXQGR�PHQRV�VXV�LPSRUWDFLRQHV�GH�ELHQHV��GLVWLQWDV�GH�ORV�GHULYDGRV�GH�SHWUyOHR��GHVGH�HO�UHVWR�GHO�PXQGR�HQ�XQ�SHUtRGR�GHWHUPLQDGR��

(O�6DOGR�HQ�FXHQWD�FRUULHQWHPLGH�HO�VDOGR�QHWR��SRVLWLYR�R�QHJDWLYR��GH�ODV�H[SRUWDFLRQHV�GH�ELHQHV�\�VHUYLFLRV�GH�XQ�SDtV�DO�UHVWR�GHO�PXQGR�PHQRV�VXV�LPSRUWDFLRQHV�GH�ELHQHV�\�VHUYLFLRV�GHVGH�HO� UHVWR�GHO�PXQGR�HQ�XQ�SHUtRGR�GHWHUPLQDGR��/D�GLIHUHQFLD�FRQ� OD�%DODQ]D�FRPHUFLDO�HV�TXH�LQFOX\H�ODV�GRQDFLRQHV�R�WUDQVIHUHQFLDV�XQLODWHUDOHV�\�OD�SUHVWDFLyQ�\�FRQWUDWDFLyQ�GH�VHUYLFLRV�DO�\�FRQ�HO� H[WHULRU�� FRPR�SRU�HMHPSOR�� WUDQVSRUWH�� VHJXURV�R� LQWHUHVHV��/D�%DODQ]D�FRPHUFLDO� HV�SDUWH�GHO�6DOGR�HQ�FXHQWD�FRUULHQWH��

'HILQLFLyQ%DODQ]D�FRPHUFLDO�HQ�PLOORQHV�GH�GyODUHV�6L�HO�YDORU�GH�ODV�H[SRUWDFLRQHV�HV�PD\RU�DO�YDORU�GH�ODV�LPSRUWDFLRQHV�VH�WLHQH�XQD�EDODQ]D�FRPHUFLDO�IDYRUDEOH�R�VXSHUDYLWDULD��HQ�HO�FDVR�FRQWUDULR��VH�WLHQH�XQD�EDODQ]D�FRPHUFLDO�GHVIDYRUDEOH�R�GHILFLWDULD��6X�IRUPD�GH�FiOFXOR�HV�OD�VLJXLHQWH�

%&� �;�� 0GRQGH�%&�HV�OD�EDODQ]D�FRPHUFLDO��;�VRQ�ODV�H[SRUWDFLRQHV�GH�ELHQHV�HQ�PLOORQHV�GH�GyODUHV�)2%�\� 0� VRQ� ODV� LPSRUWDFLRQHV� GH� ELHQHV� HQ� PLOORQHV� GH� GyODUHV� )2%�� (O� WpUPLQR� )2%� �³IUHH� RQ�ERDUG´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�D�ERUGR�HQ�HO�SXHUWR�GH�HPEDUTXH��/D�IRUPD�GH�FiOFXOR�GH�ODV�EDODQ]DV�FRPHUFLDOHV�SHWUROHUD�\�QR�SHWUROHUD�HV� OD�PLVPD��FRQ�OD�VDOYHGDG�GHO� WLSR�GH�ELHQHV�TXH�VH�FRQVLGHUDQ��ORV�TXH�GHEHQ�FRUUHVSRQGHU�D�ODV�GHILQLFLRQHV�VHxDODGDV�DQWHULRUPHQWH��

%DODQ]D� FRPHUFLDO� FRPR� SRUFHQWDMH� GHO� 3,%�� PLGH� HO� WDPDxR� GHO� VDOGR� FRPHUFLDO� HQ�UHODFLyQ�DO�WDPDxR�GH�OD�HFRQRPtD�

%& ; 03,% � ���

GRQGH�%&�HV�OD�EDODQ]D�FRPHUFLDO�FRPR�SRUFHQWDMH�GHO�3,%��;�VRQ�ODV�H[SRUWDFLRQHV�GH�ELHQHV�HQ�PLOORQHV�GH�GyODUHV�)2%��0�VRQ�ODV�LPSRUWDFLRQHV�GH�ELHQHV�HQ�PLOORQHV�GH�GyODUHV�)2%�\�3,%�HV�HO�3URGXFWR�,QWHUQR�%UXWR�HQ�PLOORQHV�GH�GyODUHV��/D�IRUPD�GH�FiOFXOR�GH�ODV�EDODQ]DV�FRPHUFLDOHV�SHWUROHUD�\�QR�SHWUROHUD�FRPR�SRUFHQWDMH�GHO�3,%�HV�OD�PLVPD��FRQ�OD�VDOYHGDG�GHO�WLSR�GH�ELHQHV�TXH�VH�FRQVLGHUDQ��ORV�TXH�GHEHQ�FRUUHVSRQGHU�D�ODV�GHILQLFLRQHV�VHxDODGDV�DQWHULRUPHQWH�

(O� 6DOGR� HQ� FXHQWD� FRUULHQWH�HV� HO� UHVXOWDQWH� GH� OD� VXPD� GH� ORV� VDOGRV� HQ� OD� %DODQ]D�FRPHUFLDO�� HQ� OD� %DODQ]D� GH� VHUYLFLRV� \� UHQWD� \� GH� ODV� 7UDQVIHUHQFLDV� XQLODWHUDOHV�� 6H� PLGH� HQ�PLOORQHV� GH� GyODUHV� \� FRPR� SRUFHQWDMH� GHO� 3,%�� 6L� HO� VDOGR� HV� QHJDWLYR� VH� WLHQH� XQ� GpILFLW� HQ�&XHQWD�FRUULHQWH�\�VLJQLILFD�TXH�HO�SDtV�KD�REWHQLGR�XQ�SUpVWDPR�QHWR�GHO�UHVWR�GHO�PXQGR��

0HGLGD

Page 44: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

0LOORQHV�GH�GyODUHV3RUFHQWDMH��GHO�3,%�

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO�

6HULH�FURQROyJLFDV�GLVSRQLEOH����������

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6(�HVWRV�LQGLFDGRUHV�HVWiQ�GHILQLGRV�SDUD�HO�SHUtRGR�����������\�VRQ�FRPSDUDEOHV��FRQ�OD� SUHFDXFLyQ� GH� TXH� HQ� HO� WUDQVFXUVR� GHO� WLHPSR� VH� LQFRUSRUDQ� QXHYRV� ELHQHV� H[SRUWDEOHV� R�LPSRUWDEOHV� \� GHVDSDUHFHQ� RWURV�� SRU� OR� TXH� DO� DQDOL]DU� YDULRV� DxRV� QR� VH� HVWiQ� FRPSDUDQGR�H[DFWDPHQWH�HO�PLVPR�WLSR�GH�ELHQHV��HQ�HVSHFLDO�FXDQGR�VH�FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR�� (O� SHUtRGR� HVFRJLGR�� ����� ± ������ VH� GHEH� D� TXH� ODV� FLIUDV� GH� HVWH� ODSVR� GH� WLHPSR�FRUUHVSRQGHQ�D�XQD�PLVPD�PHWRGRORJtD�GH�EDODQ]D�GH SDJRV�XWLOL]DGD�SRU�HO�%DQFR�&HQWUDO��/RV�GDWRV� GH� OD� EDODQ]D� GH� SDJRV� GH� DxRV� DQWHULRUHV� D� ������ GHELGR� DO� XVR� GH� XQD� PHWRGRORJtD�GLIHUHQWH�� QR� VRQ� FRPSDUDEOHV� FRQ� ORV� DFWXDOHV�� (O� %&(� VH� HQFXHQWUD� UHFDOFXODQGR� EDMR� OD�PHWRGRORJtD�DFWXDO�ODV�FLIUDV�DQWHULRUHV�D������D�ILQ�GH�YROYHU�FRPSDUDEOHV�ODV�VHULHV�

2EVHUYDFLRQHV�(Q� OD� EDODQ]D� FRPHUFLDO� ODV� LPSRUWDFLRQHV� VH� UHJLVWUDQ� HQ� YDORUHV� )2%�� HQ� WDQWR�� TXH� HQ� ODV�&XHQWDV�QDFLRQDOHV�ODV�LPSRUWDFLRQHV�VH�UHJLVWUDQ�HQ�YDORUHV�&,)��(VWR�VH�GHEH�D�TXH�HQ�OD�%DODQ]D�GH�SDJRV��ORV�FRVWRV�\�IOHWHV�VH�UHJLVWUDQ�HQ�OD�%DODQ]D�GH�VHUYLFLRV�\�UHQWD��(O�WpUPLQR�&,)��³FRVW��LQVXUDQFH�DQG�IUHLJKW´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�HQ�HO�SXHUWR�GH�GHVWLQR��SRU�OR�TXH�DO�YDORU�)2%�VH�GHEHQ�VXPDU�ORV�FRVWRV�GH�ORV�VHJXURV�\�GH�ORV�IOHWHV��(O�WpUPLQR�)2%��³IUHH�RQ�ERDUG´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�D�ERUGR�HQ�HO�SXHUWR�GH�HPEDUTXH�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�

(GLWRUHV�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 45: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25

%DODQ]D�&RPHUFLDO�\�6DOGR�HQ�&XHQWD�&RUULHQWH���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

%DODQ]D�&RPHUFLDO0LOORQHV�GH�GyODUHV ��� ��� ��� ���� ��� ���� ��� ��� ��� ���� ��� ������GHO�3,% ����� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� �����

3HWUROHUD0LOORQHV�GH�GyODUHV ��� ��� ���� ���� ���� ���� ���� ���� ���� ���� ���� �����GHO�3,% ���� ����� ����� ����� ���� ���� ���� ���� ���� ���� ���� ����

1R�3HWUROHUD0LOORQHV�GH�GyODUHV ���� ���� ���� ���� ���� ���� ���� ���� ����� ���� ���� �������GHO�3,% ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

6DOGR�HQ�&WD��&WH�0LOORQHV�GH�GyODUHV ����� ���� ���� ���� ���� ���� ���� ���� ���� ��� ���� �������GHO�3,% ������ ����� ����� ����� ����� ����� ����� ����� ����� ���� ����� ������

5HVXOWDGRV�HQ�ODV�FXHQWDV�FRPHUFLDO�\�FRUULHQWH���GHO�3,%�

����

����

���

��

��

���

���

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

%DODQ]D�FRPHUFLDO 6DOGR�HQ�&XHQWD�&RUULHQWH

Page 46: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����$SHUWXUD�GH�OD�(FRQRPtD�

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/D�$SHUWXUD�GH� OD� HFRQRPtD� �$(��HV� OD� LQWHJUDFLyQ�GH� XQ�SDtV� D� OD� HFRQRPtD�PXQGLDO�� TXH� VH�SURGXFH�D�WUDYpV�GH�OD�H[SRUWDFLyQ�H�LPSRUWDFLyQ�GH�ELHQHV�\�VHUYLFLRV��

/DV�H[SRUWDFLRQHV VRQ�HO�FRQMXQWR�GH�ELHQHV�\�VHUYLFLRV�TXH�HO SDtV�YHQGH D RWURV�SDtVHV��/DV�LPSRUWDFLRQHV VRQ�HO�FRQMXQWR�GH�ELHQHV�\�VHUYLFLRV�TXH�HO SDtV�FRPSUD D�RWURV�SDtVHV��/DV�H[SRUWDFLRQHV�MXQWR�FRQ�ODV�LPSRUWDFLRQHV�IRUPDQ�SDUWH�GHO�FRPHUFLR�H[WHULRU�GH�XQ�SDtV��

'HILQLFLyQ/D�$SHUWXUD�GH�OD�HFRQRPtDVH�FDOFXOD�GH�OD�VLJXLHQWH�PDQHUD�

$( ; 03,% � ���

GRQGH� $( HV� HO� JUDGR� GH� DSHUWXUD� GH� OD� HFRQRPtD�� ; VRQ� ODV� H[SRUWDFLRQHV� )2%� D� SUHFLRV�FRQVWDQWHV��0 VRQ�ODV�LPSRUWDFLRQHV�&,)�D�SUHFLRV�FRQVWDQWHV�\�3,%�HV�HO�3URGXFWR�,QWHUQR�%UXWR�D�SUHFLRV�FRQVWDQWHV��(O�WpUPLQR�&,)��³FRVW��LQVXUDQFH�DQG�IUHLJKW´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�HQ�HO�SXHUWR�GH�GHVWLQR��SRU�OR�TXH�DO�YDORU�)2%�VH�GHEHQ�VXPDU�ORV�FRVWRV�GH�ORV�VHJXURV�\�GH�ORV�IOHWHV��(O�WpUPLQR�)2%��³IUHH�RQ�ERDUG´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�D�ERUGR�HQ HO�SXHUWR�GH�HPEDUTXH�� 6H� FDOFXOD� D� SUHFLRV� FRQVWDQWHV� �SUHFLRV� GH� ������ D� ILQ� GH� HOLPLQDU� HO� HIHFWR� GH� OD�YDULDFLyQ�GH�ORV�SUHFLRV��8Q�DXPHQWR�GHO�FRHILFLHQWH�$( VLJQLILFD�XQD�PD\RU�DSHUWXUD�GHO�SDtV�D�OD�HFRQRPtD�PXQGLDO�\�YLFHYHUVD��

/DV�([SRUWDFLRQHV VH�H[SUHVDQ�HQ�PLOORQHV�GH�GyODUHV�FRUULHQWHV�)2%�\�ODV�,PSRUWDFLRQHVHQ� PLOORQHV� GH� GyODUHV� FRUULHQWHV� &,)�� D� ILQ� GH� WHQHU� XQD� LGHD� GHO� PRQWR� WRWDO� GH� HVWDV�WUDQVDFFLRQHV��

/DV�H[SRUWDFLRQHV�H� LPSRUWDFLRQHV VH�H[SUHVDQ�WDPELpQ�FRPR�SRUFHQWDMH�GHO�3,%�FRQ�HO�SURSyVLWR�GH�FRPSDUDU�VX�WDPDxR�UHVSHFWR�GHO�WDPDxR�GH�OD�HFRQRPtD��

[ ;3,% ���

P 03,% ���

GRQGH�[ VRQ� ODV� H[SRUWDFLRQHV�FRPR�SRUFHQWDMH�GHO�3,%��; VRQ� ODV� H[SRUWDFLRQHV�HQ�PLOORQHV�GH�GyODUHV�)2%�FRUULHQWHV��0 VRQ�ODV�LPSRUWDFLRQHV�HQ�PLOORQHV�GH�GyODUHV�&,)�FRUULHQWHV�\�3,% HV�HO�3URGXFWR�,QWHUQR�%UXWR�HQ�PLOORQHV�GH�GyODUHV�FRUULHQWHV��

0HGLGD3RUFHQWDMH0LOORQHV�GH�GyODUHV3RUFHQWDMH�GHO�3,%

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q� HO� 6,,6(� ORV� GDWRV� GH� $SHUWXUD� GH� OD� HFRQRPtD�� ([SRUWDFLRQHV� H� LPSRUWDFLRQHV� HVWiQ�GHILQLGRV�SDUD�HO�SHUtRGR������������HQ�ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR��D������VHPLGHILQLWLYR������������SURYLVLRQDO�

2EVHUYDFLRQHV�

Page 47: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

(Q� OD� EDODQ]D� FRPHUFLDO� ODV� LPSRUWDFLRQHV� VH� UHJLVWUDQ� HQ� YDORUHV� )2%�� HQ� WDQWR�� TXH� HQ� ODV�&XHQWDV� 1DFLRQDOHV� ODV� LPSRUWDFLRQHV� VH� UHJLVWUDQ� HQ� YDORUHV� &,)�� (O� WpUPLQR� &,)� �³FRVW��LQVXUDQFH�DQG� IUHLJKW´�� HV� HO�YDORU�GH� ORV�ELHQHV�SXHVWRV�HQ�HO�SXHUWR�GH�GHVWLQR��SRU� OR�TXH�DO�YDORU�)2%�VH�GHEHQ�VXPDU� ORV�FRVWRV�GH� ORV�VHJXURV�\�GH� ORV� IOHWHV��(O� WpUPLQR�)2%��³IUHH�RQ�ERDUG´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�D�ERUGR�HQ�HO�SXHUWR�GH�HPEDUTXH�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 48: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25

$SHUWXUD�GH�OD�(FRQRPtD���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

$SHUWXUD�GH�OD�(FRQRPtD��GHO�3,% ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

([SRUWDFLRQHV�)2%0LOORQHV�GH�GyODUHV ����� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������ ������ ������ ��������GHO�3,% ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

,PSRUWDFLRQHV�&,)0LOORQHV�GH�GyODUHV ����� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������ ������ ������ ��������GHO�3,% ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

���

����

����

����

����

����

����

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

$SHUWXUD�GH�OD�HFRQRPtD

Page 49: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����5HVHUYD�0RQHWDULD�,QWHUQDFLRQDO�H�,QYHUVLyQ�H[WUDQMHUD�GLUHFWD

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/D�5HVHUYD�0RQHWDULD�,QWHUQDFLRQDOFRQVLVWH�HQ�ODV�H[LVWHQFLDV�GH�GLYLVDV�\�RUR�PDQWHQLGRV�HQ�HO�%&(��TXH�VH�XWLOL]DQ�SDUD�LQWHUYHQLU�HQ�HO�PHUFDGR�GH�GLYLVDV�FRQ�HO�ILQ�GH�HVWDELOL]DU�HO�YDORU�GHO�GyODU��YHQGLHQGR�GyODUHV�FXDQGR�H[LVWH�XQ�H[FHVR�GH�GHPDQGD�GH�GLYLVDV�\�FRPSUDQGR�FXDQGR�H[LVWH� XQ� H[FHVR� GH� RIHUWD�� (Q� HVH� VHQWLGR� HV� XQ� LQGLFDGRU� GH� ODV� SUHVLRQHV� VREUH� OD� EDODQ]D� GH�SDJRV�� 6H� XWLOL]D� WDPELpQ� FRPR� XQ� LQGLFDGRU� GH� OD� FDSDFLGDG� GH� XQ� SDtV� SDUD� ILQDQFLDU� VXV�LPSRUWDFLRQHV��

/D� ,QYHUVLyQ� H[WUDQMHUD� GLUHFWD�HVWi� FRQIRUPDGD� SRU� ODV� DSRUWDFLRQHV� R� FRORFDFLRQHV�GLUHFWDV�GH�FDSLWDOHV�H[WUDQMHURV�GH� ODUJR�SOD]R�SDUD� OD� FUHDFLyQ�R�DPSOLDFLyQ�GH�HPSUHVDV�HQ�HO�SDtV�� 3XHGH� UHDOL]DUVH� D WUDYpV� GH� DFFLRQHV� \� RWUDV� SDUWLFLSDFLRQHV� GH� FDSLWDO� \� GH� XWLOLGDGHV�UHLQYHUWLGDV�

'HILQLFLyQ(Q�HO�6,,6(��OD�5HVHUYD�PRQHWDULD�LQWHUQDFLRQDOHVWi�H[SUHVDGD�HQ�PLOORQHV�GH�GyODUHV�DO����GH�GLFLHPEUH� GH� FDGD� DxR�� FRPR� SRUFHQWDMH� GHO� 3,% \� FRPR� SRUFHQWDMH� \� Q~PHUR� GH� PHVHV� GH�LPSRUWDFLRQHV� GH� ELHQHV� \� VHUYLFLRV�� 3DUD� HO� FiOFXOR� GH� HVWRV� GRV� ~OWLPRV� LQGLFDGRUHV� VH� KD�XWLOL]DGR� ORV� UXEURV� GH� LPSRUWDFLRQHV� GH� ELHQHV� H� LPSRUWDFLRQHV� GH� VHUYLFLRV� GH� OD� EDODQ]D� GH�SDJRV��/D�UHVHUYD�PRQHWDULD�LQWHUQDFLRQDO�H[SUHVDGD�FRPR�Q~PHUR�GH�PHVHV�GH�LPSRUWDFLRQHV�GH�ELHQHV� \� VHUYLFLRV� VH� REWLHQH� GLYLGLHQGR� OD� 50,� SDUD� HO� YDORU� PHQVXDO� SURPHGLR� GH� ODV�LPSRUWDFLRQHV�GH�ELHQHV�\�VHUYLFLRV�

F 50,0%6 §

©̈·¹̧��

GRQGH�F�HV�HO�FRHILFLHQWH�TXH�PLGH�HO�Q~PHUR�GH�PHVHV�TXH�SXHGH�FXEULU�SRWHQFLDOPHQWH�OD�UHVHUYD�PRQHWDULD��50,�HV�OD�UHVHUYD�PRQHWDULD�LQWHUQDFLRQDO�HQ�PLOORQHV�GH�GyODUHV�DO����GH�GLFLHPEUH�GH�FDGD�DxR�\�0%6�HV� OD� LPSRUWDFLyQ�GH�ELHQHV� \� VHUYLFLRV� GH� OD�EDODQ]D�GH�SDJRV�HQ�PLOORQHV�GH�GyODUHV�

/D�,QYHUVLyQ�H[WUDQMHUD GLUHFWD FRUUHVSRQGH�DO� UXEUR� ,QYHUVLyQ�GLUHFWD�GH� OD�EDODQ]D�GH�SDJRV�\�HVWi�GHILQLGR�HQ�PLOORQHV�GH�GyODUHV�\�FRPR�SRUFHQWDMH�GHO�3,%�

0HGLGD0LOORQHV�GH�GyODUHV3RUFHQWDMH�GHO�3,%3RUFHQWDMH�GH�ODV�LPSRUWDFLRQHV�GH�ELHQHV�\�VHUYLFLRV�0HVHV�GH�LPSRUWDFLRQHV�GH�ELHQHV�\�VHUYLFLRV�

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULH�FURQROyJLFD�GLVSRQLEOH�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6(��OD�5HVHUYD�PRQHWDULD�LQWHUQDFLRQDO�HVWi�GHILQLGD�SDUD�HO�SHUtRGR������������HQ�ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\�D������SURYLVLRQDO��/D�,QYHUVLyQ�H[WUDQMHUD�GLUHFWD�HVWi� GHILQLGD� SDUD� FDGD� DxR� GHO� SHUtRGR� ����������� /DV� FLIUDV� VRQ� FRPSDUDEOHV�� (O� SHUtRGR�HVFRJLGR�������± ������VH�GHEH�D�TXH�ODV�FLIUDV�GH�HVWH�ODSVR�GH�WLHPSR�FRUUHVSRQGHQ�D�XQD�PLVPD�PHWRGRORJtD� GH� EDODQ]D� GH� SDJRV� XWLOL]DGD� SRU� HO�%&(��/RV� GDWRV� GH� EDODQ]D� GH� SDJRV� GH� DxRV�DQWHULRUHV�D������GHELGR�DO�XVR�GH�XQD�PHWRGRORJtD�GLIHUHQWH�QR�VRQ�FRPSDUDEOHV�FRQ�ORV�DFWXDOHV��

Page 50: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

(O %&( VH�HQFXHQWUD�UHFDOFXODQGR�EDMR�OD�PHWRGRORJtD�DFWXDO�ODV�FLIUDV�DQWHULRUHV�D������D�ILQ�GH�YROYHU�FRPSDUDEOHV�ODV�VHULHV�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�

(GLWRUHV�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

���

��

��

��

��

��

���

���

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

5HVHUYD�PRQHWDULD�LQWHUQDFLRQDO���GHO�3,%�

Page 51: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25

5HVHUYD�0RQHWDULD�H�,QYHUVLyQ�([WUDQMHUD���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

5HVHUYD�0RQHWDULD�,QWHUQDFLRQDO0LOORQHV�GH�GyODUHV ���� ���� ����� ����� ����� ������ ������ ����� ����� ����� ����� ������ ������ ������ ������ ������ ��������GHO�3,% ���� ���� ���� ���� ���� ����� ����� ���� ���� ���� ���� ���� ����� ���� ���� ����� ����

5HVHUYD�0RQHWDULD�,QWHUQDFLRQDO ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ������GH�ODV�,PSRUWDFLRQHV�GH�%LHQHV�\�6HUYLFLRV ����� ����� ���� ����� ����� ����� ����� ����� ����� ����� ����� �����1~PHUR�GH�PHVHV�GH�,PSRUWDFLRQHV�GH�%LHQHV�\�6HUYLFLRV ���� ���� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���,QYHUVLyQ�([WUDQMHUD�'LUHFWD0LOORQHV�GH�GyODUHV ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �������GHO�3,% ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

Page 52: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

�����7LSR�GH�FDPELR�\�'HYDOXDFLyQ

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR(O� WLSR� GH� FDPELR� QRPLQDO HV� HO� SUHFLR� R� FRWL]DFLyQ� GH� XQD�PRQHGD� FRPSDUDGD� FRQ� RWUD�� SRU�HMHPSOR��XQ�GyODU�LJXDO�D������VXFUHV��QRYLHPEUH�GH��������(O�WLSR�GH�FDPELR�QRPLQDO�SXHGH�VHU�GH�YHQWD�R�GH�FRPSUD��(O�WLSR�GH�FDPELR�GH�YHQWD HV�HO�SUHFLR�TXH�FREUDQ�HO�%DQFR�&HQWUDO��ODV�LQVWLWXFLRQHV� ILQDQFLHUDV� R� FDVDV� GH� FDPELR�� FXDQGR� YHQGHQ� GyODUHV� D� ORV� LQGLYLGXRV� R� DJHQWHV�HFRQyPLFRV�� (O� WLSR� GH� FDPELR� GH� FRPSUD HV� HO� SUHFLR� TXH� SDJDQ� HO� %DQFR� &HQWUDO�� ODV�LQVWLWXFLRQHV� ILQDQFLHUDV� R� FDVDV� GH� FDPELR�� FXDQGR� FRPSUDQ�GyODUHV� D� ORV� LQGLYLGXRV� R� DJHQWHV�HFRQyPLFRV��

/D�GHYDOXDFLyQ�HV�XQ�DXPHQWR�GHO�WLSR�GH�FDPELR�QRPLQDO�H�LPSOLFD�XQD�SpUGLGD�GH�YDORU�GHO�VXFUH�UHVSHFWR�D�RWUD�PRQHGD��SRU�OR�JHQHUDO�HO�GyODU��HV�GHFLU��VH�GHEHQ�HQWUHJDU�PiV�VXFUHV�SRU�FDGD�GyODU��(Q�FDPELR��XQD�GLVPLQXFLyQ�GHO�WLSR�GH�FDPELR�QRPLQDO�FRQVWLWX\H�XQD�UHYDOXDFLyQ�R�UHFXSHUDFLyQ�GH�YDORU�GHO�VXFUH�UHVSHFWR�DO�GyODU��

(O� WLSR� GH� FDPELR� UHDO UHODFLRQD� ORV� SUHFLRV� GH� ORV� ELHQHV� SURGXFLGRV� HQ� HO� H[WUDQMHUR��H[SUHVDGRV� HQ� PRQHGD� � QDFLRQDO�� FRQ� ORV� SUHFLRV� GH� ORV� ELHQHV� SURGXFLGRV� HQ� HO� SDtV��&RQFHSWXDOPHQWH�VH�XWLOL]D�OD VLJXLHQWH�H[SUHVLyQ�

H ( 3 [3 Q

'RQGH�H� HV�HO�WLSR�GH�FDPELR�UHDO��( HV�HO�WLSR�GH�FDPELR�QRPLQDO��3[ HV�HO�QLYHO�GH�SUHFLRV�GH�ORV�ELHQHV�H[WHUQRV�\�3Q HV�HO�QLYHO�GH�SUHFLRV�GH�ORV�ELHQHV�QDFLRQDOHV��(O�WLSR�GH�FDPELR�UHDO�HV�XQ�SUHFLR�UHODWLYR�TXH�VH�XWLOL]D�FRPR�LQGLFDGRU�GH�ORV�SUHFLRV�GH�ORV�ELHQHV�H[WHUQRV�UHVSHFWR�GH�ORV�SUHFLRV�GH�ORV�ELHQHV�QDFLRQDOHV��(Q�HVH�VHQWLGR��HV�XWLOL]DGR�WDPELpQ�FRPR�XQR�GH�ORV�LQGLFDGRUHV�TXH�PLGHQ�OD�FRPSHWLWLYLGDG�GH�XQ�SDtV�HQ�HO�FRPHUFLR�LQWHUQDFLRQDO��HV�GHFLU��SHUPLWH�VDEHU�VL�ORV�ELHQHV� SURGXFLGRV� HQ� HO� SDtV� HVWiQ� DEDUDWiQGRVH� R� HQFDUHFLpQGRVH� HQ� UHODFLyQ� D� ORV� ELHQHV�SURGXFLGRV�HQ�HO�H[WHULRU�

8Q� DXPHQWR� GH� H FRUUHVSRQGH� D� XQD�GHSUHFLDFLyQ�GHO� WLSR� GH� FDPELR� UHDO�� HV� GHFLU�� ORV�ELHQHV�H[WHUQRV�VH�KDQ�YXHOWR�PiV�FDURV�UHVSHFWR�D� ORV�ELHQHV�QDFLRQDOHV�R�YLVWR�GH�RWUD�PDQHUD��ORV� ELHQHV� QDFLRQDOHV� VH� KDQ� YXHOWR�PiV� EDUDWRV� HQ� UHODFLyQ� D� ORV� ELHQHV� H[WHUQRV�� (Q� HVWH� FDVR�KDEUtD� XQ� DXPHQWR� GH� FRPSHWLWLYLGDG� GH� ORV� ELHQHV� QDFLRQDOHV�� OR� TXH� VLJQLILFD� TXH� ORV� DJHQWHV�HFRQyPLFRV� SUHIHULUiQ� FRPSUDU� ELHQHV� QDFLRQDOHV� D� ELHQHV� H[WUDQMHURV�� 3RU� VX� SDUWH�� XQD�GLVPLQXFLyQ�GH�H HV�XQD�DSUHFLDFLyQ GHO�WLSR�GH�FDPELR�UHDO��HV�GHFLU��ORV�ELHQHV�H[WHUQRV�VH�KDQ�YXHOWR�PiV�EDUDWRV�UHVSHFWR�GH�ORV�ELHQHV�QDFLRQDOHV�R� GLFKR�GH�RWUD�PDQHUD��ORV�ELHQHV�QDFLRQDOHV�VH�KDQ�YXHOWR�PiV�FDURV�HQ� UHODFLyQ�D� ORV�ELHQHV�H[WHUQRV��(Q�HVWH�FDVR��VH� WLHQH�XQD�SpUGLGD�GH�FRPSHWLWLYLGDG�GH�ORV�ELHQHV�QDFLRQDOHV�

'HILQLFLyQ(O�7LSR�GH�FDPELR�QRPLQDOGH�YHQWD��FRUUHVSRQGH�DO�WLSR�GH�FDPELR�GH�YHQWD�SURPHGLR�DQXDO�GHO�PHUFDGR�OLEUH�GH�FDPELRV��(O�7LSR�GH�FDPELR�QRPLQDOGH�FRPSUD��FRUUHVSRQGH�DO�WLSR�GH�FDPELR�GH�FRPSUD�SURPHGLR�DQXDO�GHO�PHUFDGR�OLEUH�GH�FDPELRV��

/D�'HYDOXDFLyQ HV� OD� WDVD� GH� FUHFLPLHQWR� LQWHUDQXDO� GHO� WLSR� GH� FDPELR� QRPLQDO� SDUD� HO�SHUtRGR�����������R� OD� WDVD�GH�FUHFLPLHQWR�SURPHGLR�DQXDO�SDUD� ORV�SHUtRGRV���������������������������������\�����������

/D�7DVD�GH�GHYDOXDFLyQ�LQWHUDQXDOVH�FDOFXOD�PHGLDQWH�OD�YDULDFLyQ�SRUFHQWXDO�GHO�WLSR�GH�FDPELR�QRPLQDO�HQWUH�XQ�DxR�\�HO�DxR�LQPHGLDWR�DQWHULRU�DSOLFDQGR�OD�VLJXLHQWH�IyUPXOD�

WGL ((

W

W �§©̈

·¹̧� �� ���

GRQGH�WGL HV�OD�WDVD�GH�GHYDOXDFLyQ�LQWHUDQXDO�\�(�HV�HO�WLSR�GH�FDPELR�QRPLQDO�

Page 53: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

/D� 7DVD� GH� GHYDOXDFLyQ� SURPHGLR� DQXDO FRUUHVSRQGLHQWH� D� XQ� SHUtRGR� GH� WLHPSR� VH�FDOFXOD� D� WUDYpV� GH� XQ�PRGHOR� GH� FUHFLPLHQWR� JHRPpWULFR�� XWLOL]DQGR�XQD� UHJUHVLyQ� OLQHDO� SRU� HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV��

WG((W ��� � � VH�REWLHQH�OD�WUDQVIRUPDFLyQ�ORJDUtWPLFD�GH�OD�H[SUHVLyQ�DQWHULRU�

WED( OQ � GRQGH�( HV�HO� WLSR�GH�FDPELR�QRPLQDO�� W HV�HO� WLHPSR��D � OQ�(R��E � OQ� ���G��\�G�HV� OD� WDVD�GH�GHYDOXDFLyQ� LQVWDQWiQHD��&RQ�HVWD�HVSHFLILFDFLyQ�VH�XWLOL]D�XQD� UHJUHVLyQ� OLQHDO�SRU�HO�PpWRGR�GH�PtQLPRV�FXDGUDGRV�SDUD�HVWLPDU�D \�E��HQ�OD�TXH�OD�YDULDEOH�GHSHQGLHQWH�HV�HO�ORJDULWPR�QDWXUDO�GHO�WLSR�GH�FDPELR�QRPLQDO�\�OD�YDULDEOH�LQGHSHQGLHQWH�HV�HO�WLHPSR�

8QD�YH]�HVWLPDGRV�ORV�SDUiPHWURV�D \�E���SDUD�REWHQHU�G VH�GHEH�FDOFXODU�HO�DQWLORJDULWPR�GH�E \�UHVWDUOH����GHELGR�D�TXH�E HV�OD�WDVD�GH�GHYDOXDFLyQ�LQVWDQWiQHD�\�OR�TXH�VH�GHVHD REWHQHU�HV�OD�WDVD�GH�GHYDOXDFLyQ�SURPHGLR�DQXDO�GHO�SHUtRGR�

� �G HE �� ��� (O�,QGLFH�GH�WLSR�GH�FDPELR�UHDOHV�FDOFXODGR�SRU�HO�%DQFR�&HQWUDO�GHO�(FXDGRU��FRQIRUPH�

D�XQD�PXHVWUD�GH����SDtVHV��TXH�FXEUH�PiV�GHO�����GHO� WRWDO�GHO� FRPHUFLR�H[WHULRU� HFXDWRULDQR��WDQWR�GH� LPSRUWDFLyQ�FRPR�GH�H[SRUWDFLyQ��H[FOX\HQGR�HO�SHWUyOHR��(O�SHUtRGR�EDVH�HV�DJRVWR�GH������ �����\�HQ�HO�6,,6(�HO� tQGLFH�FRUUHVSRQGH�DO�SURPHGLR�DQXDO��/D� IyUPXOD�GH�FiOFXOR�HV� OD�VLJXLHQWH�

,7&(53L(L

D

3(

L

L

Q

§©̈

·¹̧

�� ���

GRQGH� ,7&(5 HV� HO� ,QGLFH� GH� 7LSR� GH� FDPELR� HIHFWLYR� UHDO�� 3L HV� HO� ,QGLFH� GH� 3UHFLRV� DO�&RQVXPLGRU�GHO�SDtV�L FRQ�HO�TXH�FRPHUFLD�HO�(FXDGRU��(L HV�HO�,QGLFH�GH�WLSR�GH�FDPELR�QRPLQDO�GHO�SDtV�L FRQ�HO�TXH�FRPHUFLD�HO�(FXDGRU��XQLGDGHV�GH�OD�PRQHGD�GHO�SDtV�L SRU�GyODUHV GH�(VWDGRV�8QLGRV���3 HV�HO�,3&�GHO�(FXDGRU��( HV�HO�,QGLFH�GH�WLSR�GH�FDPELR�QRPLQDO�GHO�(FXDGRU��VXFUHV�SRU�GyODU�GH�(VWDGRV�8QLGRV���DL HV�OD�SRQGHUDFLyQ�GHO�SDtV�L HQ�HO�FRPHUFLR�H[WHULRU�GHO�(FXDGRU�\�Q HV� HO� Q~PHUR� GH� SDtVHV� GH� OD� PXHVWUD�� (O� VtPEROR� 3� HV� HO� SURGXFWRU� \� HV� OD� RSHUDFLyQ�PXOWLSOLFDWRULD�SDUD�WRGRV�ORV�L��

8Q� DXPHQWR�GHO� tQGLFH� VLJQLILFD� GHSUHFLDFLyQ� UHDO�� HQ� WDQWR� TXH�XQD�GLVPLQXFLyQ� LPSOLFD�DSUHFLDFLyQ�UHDO�

0HGLGD7LSR�GH�&DPELR�1RPLQDO��&RPSUD�\�9HQWD���6XFUHV�SRU�GyODU'HYDOXDFLyQ� 3RUFHQWDMH,QGLFH�GHO�7LSR�GH�&DPELR�5HDO��$xR�%DVH� ����

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6( HVWH�LQGLFDGRU�HVWi�GHILQLGR�SDUD�HO�SHUtRGR������������HQ�ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\������SURYLVLRQDO��/DV�FLIUDV�VRQ�FRPSDUDEOHV�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD�4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU�4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������

Page 54: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��0F*UDZ�+LOO�������

/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�(GLWRUHV�������

6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

��

��

��

��

���

���

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

,QGLFH�GHO�WLSR�GH�FDPELR�UHDO$JRVWR������ ����

Page 55: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25

7LSR�GH�&DPELR�\ 'HYDOXDFLyQ7LSR�GH�&DPELR��0HUFDGR�/LEUH� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����6XFUHV�SRU�GyODU&RPSUD� ���� ���� ���� ���� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������9HQWD ���� ���� ���� ���� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������

,QGLFH�GH�WLSR�GH�FDPELR�UHDO ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����%DVH�$JRVWR������ ���� ���� ���� ���� ���� ����� ����� ����� ���� ���� ���� ���� ���� ����

��������� ��������� ��������� ��������� ��������� ���� ���� ���� ���� ���� ���� ���� ���� ����

'HYDOXDFLyQ ���� ���� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

Page 56: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����(VWUXFWXUD�GH�ODV�H[SRUWDFLRQHV������([SRUWDFLRQHV�VHJ~Q�OXJDU�GH�GHVWLQR

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/DV�H[SRUWDFLRQHV VRQ�HO�FRQMXQWR�GH�ELHQHV�\�VHUYLFLRV�TXH�HO SDtV�YHQGH D�RWURV�SDtVHV��3DUD�HO�DQiOLVLV�GH�OD�HVWUXFWXUD�GH�ODV�H[SRUWDFLRQHV�SRU�SDtV��iUHD�HFRQyPLFD�R�FRQWLQHQWH��VH�FRQVLGHUDQ�~QLFDPHQWH�ODV�H[SRUWDFLRQHV�GH�ELHQHV��

'HILQLFLyQ/DV�H[SRUWDFLRQHV�GHO�SDtV�VH�HQFXHQWUDQ�HVWUXFWXUDGDV�GH�DFXHUGR�DO�FRQWLQHQWH��iUHD�HFRQyPLFD�\�SDtV�GH�GHVWLQR��FRQIRUPH�D�OD�VLJXLHQWH�FODVLILFDFLyQ�

$0(5,&$

���(67$'26�81,'26���0(5&$'2�&2081�&(1752$0(5,&$12���$62&,$&,21�/$7,12$0(5,&$1$�'(�,17(*5$&,21

$UJHQWLQD%UDVLO&KLOH�����0p[LFR2WURV�SDtVHV*5832�$1',12

%ROLYLD&RORPELD3HU~9HQH]XHOD�����

���5(672�'(�$0(5,&$

(8523$

���81,21�(8523($����%pOJLFD�\�/X[HPEXUJR)UDQFLD+RODQGD,WDOLD5HLQR�8QLGR$OHPDQLD�����(VSDxD�2WURV�SDtVHV�

���$62&,$&,21�(8523($�'(�/,%5(�&20(5&,2����5(672�'(�(8523$�

$6,$7DLZDQ-DSyQ2WURV�SDtVHV

$)5,&$2&($1,$27526�3$,6(6�1(3

����&KLOH�VH�VHSDUD�GHO�3DFWR�$QGLQR�HO����GH�VHSWLHPEUH�GH����������9HQH]XHOD�LQJUHVD�DO�3DFWR�$QGLQR�HQ�HQHUR�GH���������(Q�������H[FOX\H�(VSDxD�\�3RUWXJDO��SDtVHV�TX H�LQJUHVDQ�D�OD�8QLyQ�(XURSHD�HQ����������$�SDUWLU�GH�������LQFOX\H�OD�5HS~EOLFD�'HPRFUiWLFD�GH�$OHPDQLD

$� SDUWLU� GH� ODV� H[SRUWDFLRQHV� HQ� PLOORQHV� GH� GyODUHV� FRUULHQWHV� )2%� SRU� FRQWLQHQWH�� iUHD�HFRQyPLFD�\�SDtV�GH�GHVWLQR��VH�FDOFXOD�OD�SDUWLFLSDFLyQ�SRUFHQWXDO�GH�FDGD�XQR�GH�HVWRV�JUXSRV�R�

Page 57: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

SDtVHV�GH�GHVWLQR�HQ�ODV�H[SRUWDFLRQHV�WRWDOHV�GHO�(FXDGRU��(O�WpUPLQR�)2%��³IUHH�RQ�ERDUG´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�D�ERUGR�HQ�HO�SXHUWR�GH�HPEDUTXH�

[ ;;7L

L ���

GRQGH�[L HV�OD�SDUWLFLSDFLyQ�SRUFHQWXDO�GH�FDGD�SDtV�R�UHJLyQ�GH�GHVWLQR�HQ�ODV�H[SRUWDFLRQHV�WRWDOHV�GHO� SDtV��;L HV� HO� YDORU� GH� ODV� H[SRUWDFLRQHV� SRU� FDGD� SDtV� R� UHJLyQ� GH� GHVWLQR� HQ� PLOORQHV� GH�GyODUHV�)2%�\�;7 HV�HO�YDORU�GH�ODV�H[SRUWDFLRQHV�WRWDOHV�GHO�SDtV�HQ�PLOORQHV�GH�GyODUHV )2%��

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�����������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV��������� �TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV&RQWLQHQWH��SDtV$UHD�HFRQyPLFD

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6( HO�LQGLFDGRU�HVWi�GHILQLGR�SDUD�HO�SHUtRGR������������HQ�ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\�D������SURYLVLRQDO��/DV�FLIUDV�VRQ�FRPSDUDEOHV��FRQ�OD�SUHFDXFLyQ�GH�TXH�HQ�HO�WUDQVFXUVR�GHO�WLHPSR�VH�LQFRUSRUDQ�QXHYRV�ELHQHV�H[SRUWDEOHV�\�GHVDSDUHFHQ�RWURV��SRU�OR�TXH�DO�DQDOL]DU�YDULRV�DxRV�QR�VH�HVWiQ�FRPSDUDQGR�H[DFWDPHQWH�HO�PLVPR�WLSR�GH�ELHQHV��HQ�HVSHFLDO�FXDQGR�VH�FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XDGHUQRV�GH�WUDEDMR �4XLWR���1R�������MXQLR�GH������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������

Page 58: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25(VWUXFWXUD�GH�ODV�([SRUWDFLRQHV

(;3257$&,21(6�325�&217,1(17(��$5($�(&2120,&$�<�3$,6�(VWUXFWXUD�3RUFHQWXDO�

$f2�3$,6 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����727$/�*(1(5$/ ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����$0(5,&$ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����(67$'26�81,'26 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0(5&$'2�&2081�

&(1752$0(5,&$12��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

$62&��/$7,12$0(5,&$1$'(�,17(*5$&,21 ��� ���� ���� ���� ��� ���� ���� ���� ���� ���� ���� ���� ���� ����$UJHQWLQD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���%UDVLO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&KLOH����� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���0p[LFR ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV�SDtVHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���*5832�$1',12 ��� ��� ��� ��� ��� ��� ��� ��� ��� ���� ��� ��� ���� ����%ROLYLD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RORPELD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���3HU~ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���9HQH]XHOD����� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

5(672�$0(5,&$ ��� ��� ���� ���� ��� ���� ��� ��� ��� ��� ��� ��� ��� ���(8523$ ���� ���� ���� ���� ��� ���� ���� ���� ���� ���� ���� ���� ���� ����81,21�(8523($���� ���� ���� ��� ��� ��� ���� ���� ���� ���� ���� ���� ���� ���� ����$62&�(8523($�'(�/,%5(�

&20(5&,2��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

5(672�'(�(8523$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$6,$ ��� ���� ��� ���� ���� ��� ���� ���� ���� ���� ���� ���� ���� ���7DLZiQ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���-DSyQ ��� ���� ��� ���� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV�SDtVHV ��� ��� ��� ��� ���� ��� ���� ���� ���� ��� ��� ��� ��� ���

$)5,&$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2&($1,$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���27526�3$,6(6�1(3 ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

Page 59: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

������([SRUWDFLRQHV�VHJ~Q�SURGXFWRV

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/DV�([SRUWDFLRQHV VRQ�HO�FRQMXQWR�GH�ELHQHV�\�VHUYLFLRV�TXH�HO SDtV�YHQGH D�RWURV�SDtVHV��3DUD�HO�DQiOLVLV�GH�OD�HVWUXFWXUD�GH�ODV�H[SRUWDFLRQHV�SRU�JUXSR�GH�SURGXFWRV��VH�FRQVLGHUDQ�~QLFDPHQWH�ODV�H[SRUWDFLRQHV�GH�ELHQHV�

'HILQLFLyQ/DV� H[SRUWDFLRQHV� GHO� SDtV� VH� HQFXHQWUDQ� HVWUXFWXUDGDV� SRU� JUXSRV� GH� SURGXFWRV�� FRQIRUPH� D� OD�VLJXLHQWH�FODVLILFDFLyQ�

([SRUWDFLRQHV�SRU�JUXSR�GH�SURGXFWRV

([SRUWDFLRQHV�SHWUROHUDV3HWUyOHR�&UXGR'HULYDGRV�GH�3HWUyOHR

([SRUWDFLRQHV�QR�SHWUROHUDV7UDGLFLRQDOHV

%DQDQR�\�SOiWDQR&DIp�\�HODERUDGRV&DPDUyQ&DFDR \�HODERUDGRV$W~Q�\�HODERUDGRV

1R�WUDGLFLRQDOHV$�SDUWLU�GH�ODV�([SRUWDFLRQHV�HQ�PLOORQHV�GH�GyODUHV�FRUULHQWHV�)2%�SRU�JUXSRV�GH�SURGXFWRV��VH�FDOFXOD� OD� SDUWLFLSDFLyQ� SRUFHQWXDO� GH� FDGD� XQR� GH� HVWRV� JUXSRV� HQ� ODV� H[SRUWDFLRQHV� WRWDOHV� GHO�SDtV��(O� WpUPLQR�)2%��³IUHH�RQ�ERDUG´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�D�ERUGR�HQ�HO�SXHUWR�GH�HPEDUTXH�

[ ;;7L

L ���

GRQGH�[L HV�OD�SDUWLFLSDFLyQ�SRUFHQWXDO�GH�FDGD�JUXSR�GH�SURGXFWRV�HQ�ODV�H[SRUWDFLRQHV�WRWDOHV�GHO�SDtV��;L HV� HO� YDORU�GH� ODV� H[SRUWDFLRQHV�GH� � FDGD�JUXSR�HQ�PLOORQHV�GH�GyODUHV�)2%�\�;7 HV�HO�YDORU�GH�ODV�H[SRUWDFLRQHV�WRWDOHV�GHO�SDtV�HQ�PLOORQHV�GH�GyODUHV�)2%��

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV*UXSRV�GH�SURGXFWRV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6( HO� LQGLFDGRU�HVWi�GHILQLGR�SDUD�HO�SHUtRGR������������HQ� ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\�D������SURYLVLRQDO��/DV�FLIUDV�VRQ�FRPSDUDEOHV��FRQ�OD�SUHFDXFLyQ�GH�TXH�HQ�HO�WUDQVFXUVR�GHO�WLHPSR�VH�LQFRUSRUDQ�QXHYRV�ELHQHV�H[SRUWDEOHV�\�GHVDSDUHFHQ�RWURV��SRU�

Page 60: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

OR�TXH�DO� DQDOL]DU�YDULRV�DxRV�QR� VH�HVWiQ�FRPSDUDQGR�H[DFWDPHQWH�HO�PLVPR� WLSR�GH�ELHQHV�� HQ�HVSHFLDO�FXDQGR�VH�FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������

Page 61: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25

(VWUXFWXUD�GH�ODV�([SRUWDFLRQHV(;3257$&,21(6�325�*58326�'(�352'8&726

(VWUXFWXUD�3RUFHQWXDO3(752/(5$6��� 12�3(752/(5$6

3HUtRGR 727$/ 7RWDO 3HWUyOHR�FUXGR

'HULYDGRV 7RWDO 7UDGLFLRQDOHV 2WUDV

7RWDO %DQDQR\�SOiWDQR

&DIp�\HODERUDGRV

&DPDUyQ &DFDR�\�HODERUDGRV

$W~Q�\SHVFDGR

D E�H E F�G F G H I�OI J�K�L�M�N

J K L M N O���� ����� ��� ��� ���� ���� ���� ���� ��� ���� ��� �������� ����� ��� ��� ��� ���� ���� ���� ���� ��� ���� ��� �������� ����� ���� ���� ��� ���� ���� ���� ��� ��� ��� ��� ������� ����� ���� ���� ��� ���� ���� ��� ��� ��� ��� ��� �������� ����� ���� ���� ��� ���� ���� ��� ��� ��� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ���� ���� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ���� ���� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� ������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� �������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� �������� ����� ���� ���� ��� ���� ���� ���� ���� ���� ��� ��� �������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� �������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� �������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� �������� ����� ���� ���� ��� ���� ���� ���� ��� ���� ��� ��� ����

�����(QWUH������D������HO�GDWR�UHIHUHQWH�D�3HWUyOHR�&UXGR�LQFOX\H�FUXGR�\�GHULYDGRV

Page 62: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����(VWUXFWXUD�GH�ODV�LPSRUWDFLRQHV������,PSRUWDFLRQHV�VHJ~Q�OXJDU�GH�RULJHQ

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/DV�,PSRUWDFLRQHV�VRQ�HO�FRQMXQWR�GH�ELHQHV�\�VHUYLFLRV�TXH�HO SDtV�FRPSUD�D�RWURV�SDtVHV��3DUD�HO� DQiOLVLV� GH� OD� HVWUXFWXUD� GH� ODV� LPSRUWDFLRQHV� SRU� SDtV�� iUHD� HFRQyPLFD� R� FRQWLQHQWH�� VH�FRQVLGHUDQ�~QLFDPHQWH�ODV�LPSRUWDFLRQHV�GH�ELHQHV�

'HILQLFLyQ/DV�LPSRUWDFLRQHV�GHO�SDtV�VH�HQFXHQWUDQ�HVWUXFWXUDGDV�GH�DFXHUGR�DO�FRQWLQHQWH��iUHD�HFRQyPLFD�\�SDtV�GH�RULJHQ��FRQIRUPH�D�OD�VLJXLHQWH�FODVLILFDFLyQ�

$0(5,&$

���(67$'26�81,'26���0(5&$'2�&2081�&(1752$0(5,&$12���$62&,$&,21�/$7,12$0(5,&$1$�'(�,17(*5$&,21

$UJHQWLQD%UDVLO&KLOH�����0p[LFR2WURV�SDtVHV*5832�$1',12

%ROLYLD&RORPELD3HU~9HQH]XHOD�����

���5(672�'(�$0(5,&$

(8523$

���81,21�(8523($����%pOJLFD�\�/X[HPEXUJR)UDQFLD+RODQGD,WDOLD5HLQR�8QLGR$OHPDQLD�����(VSDxD�2WURV�SDtVHV�

���$62&,$&,21�(8523($�'(�/,%5(�&20(5&,2����5(672�'(�(8523$�

$6,$7DLZDQ-DSyQ2WURV�SDtVHV

$)5,&$2&($1,$27526�3$,6(6�1(3

����&KLOH�VH�VHSDUD�GHO�3DFWR�$QGLQR�HO����GH�VHSWLHPEUH�GH����������9HQH]XHOD�LQJUHVD�DO�3DFWR�$QGLQR�HQ�HQHUR�GH���������(Q�������H[FOX\H�(VSDxD�\�3RUWXJDO��SDtVHV�TXH�LQJUHVDQ�D�OD�8QLyQ�(XURSHD�HQ����������$�SDUWLU�GH�������LQFOX\H�OD�5HS~EOLFD�'HPRFUiWLFD�GH�$OHPDQLD

$� SDUWLU� GH� ODV� ,PSRUWDFLRQHV� HQ� PLOORQHV� GH� GyODUHV� FRUULHQWHV� &,)� SRU� FRQWLQHQWH�� iUHD�HFRQyPLFD�\�SDtV�GH�RULJHQ��VH�FDOFXOD� OD�SDUWLFLSDFLyQ�SRUFHQWXDO�GH�FDGD�XQR�GH�HVWRV�JUXSRV�R�

Page 63: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

SDtVHV� GH� RULJHQ� HQ� ODV� LPSRUWDFLRQHV� WRWDOHV� GHO�(FXDGRU��(O� WpUPLQR�&,)� �³FRVW�� LQVXUDQFH� DQG�IUHLJKW´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�HQ�HO�SXHUWR�GH�GHVWLQR�

��� 070P L

L

GRQGH�PL HV�OD�SDUWLFLSDFLyQ�SRUFHQWXDO�GH�FDGD�SDtV�R�UHJLyQ�GH�RULJHQ�HQ�ODV�LPSRUWDFLRQHV�WRWDOHV�GHO� SDtV��0L HV� HO� YDORU� GH� ODV� LPSRUWDFLRQHV� SRU� FDGD� SDtV� R� UHJLyQ� GH� RULJHQ� HQ� PLOORQHV� GH�GyODUHV�&,)�\�07 HV�HO�YDORU�GH�ODV�LPSRUWDFLRQHV�WRWDOHV�GHO�SDtV�HQ�PLOORQHV�GH�GyODUHV�&,)�0HGLGD

3RUFHQWDMH)XHQWHV�GH�ORV�GDWRV�SULPDULRV

%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV&RQWLQHQWH��SDtV$UHD HFRQyPLFD

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6( HO� LQGLFDGRU�HVWi�GHILQLGR�SDUD�HO�SHUtRGR������������HQ� ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\������SURYLVLRQDO��/DV�FLIUDV�VRQ�FRPSDUDEOHV��FRQ�OD�SUHFDXFLyQ�GH�TXH�HQ�HO� WUDQVFXUVR�GHO� WLHPSR�VH� LQFRUSRUDQ�QXHYRV�ELHQHV� LPSRUWDEOHV�\�GHVDSDUHFHQ�RWURV��SRU� OR�TXH� DO� DQDOL]DU� YDULRV� DxRV� QR� VH� HVWiQ� FRPSDUDQGR� H[DFWDPHQWH� HO� PLVPR� WLSR� GH� ELHQHV�� HQ�HVSHFLDO�FXDQGR�VH�FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������

Page 64: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25

(VWUXFWXUD�GH�ODV�,PSRUWDFLRQHV,03257$&,21(6�325�&217,1(17(��$5($�(&2120,&$�<�3$,6

�(VWUXFWXUD�3RUFHQWXDO�$f2�3$,6 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

727$/�*(1(5$/ ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����$0(5,&$ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����(67$'26�81,'26 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0(5&$'2�&2081�

&(1752$0(5,&$12��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

$62&��/$7,12$0(5,&$1$'(�,17(*5$&,21 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����$UJHQWLQD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���%UDVLO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&KLOH����� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���0p[LFR ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV�SDtVHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���*5832�$1',12 ��� ��� ��� ��� ��� ��� ��� ��� ��� ���� ���� ���� ���� ����%ROLYLD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RORPELD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���� ���� ����3HU~ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���9HQH]XHOD����� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

5(672�$0(5,&$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���(8523$ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����81,21�(8523($���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����$62&�(8523($�'(�/,%5(�

&20(5&,2��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

5(672�'(�(8523$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$6,$ ��� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����7DLZiQ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���-DSyQ ��� ��� ���� ���� ���� ��� ��� ���� ���� ���� ��� ��� ��� ���2WURV�SDtVHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

$)5,&$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2&($1,$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���27526�3$,6(6�1(3 ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

Page 65: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

������,PSRUWDFLRQHV�VHJ~Q�XVR�R�GHVWLQR�HFRQyPLFR

6HFWRU(FRQRPtD

6XEVHFWRU&RPHUFLR�H[WHULRU

)XQGDPHQWR/DV�,PSRUWDFLRQHV VRQ�HO�FRQMXQWR�GH�ELHQHV�\�VHUYLFLRV�TXH�HO SDtV�FRPSUD D�RWURV�SDtVHV��3DUD�HO� DQiOLVLV� GH� OD� HVWUXFWXUD� GH� ODV� LPSRUWDFLRQHV� SRU� XVR� R� GHVWLQR� HFRQyPLFR�� VH� FRQVLGHUDQ�~QLFDPHQWH�ODV�LPSRUWDFLRQHV�GH�ELHQHV�

'HILQLFLyQ/DV� LPSRUWDFLRQHV� GHO� SDtV� VH� HQFXHQWUDQ� HVWUXFWXUDGDV� SRU� JUXSRV� GH� SURGXFWRV�� FRQIRUPH� D� OD�VLJXLHQWH�FODVLILFDFLyQ�

,03257$&,21(6�6(*h1�862�2�'(67,12�(&2120,&2%LHQHV�GH�&RQVXPR

1R�GXUDGHURV'XUDGHURV

&RPEXVWLEOHV�\�/XEULFDQWHV0DWHULDV�3ULPDV�

$JUtFRODV,QGXVWULDOHV0DWHULDOHV�GH�&RQVWUXFFLyQ

%LHQHV�GH�&DSLWDO$JUtFRODV,QGXVWULDOHV(TXLSRV�GH�7UDQVSRUWH

'LYHUVRV$�SDUWLU�GH�ODV�,PSRUWDFLRQHV�HQ�PLOORQHV�GH�GyODUHV�FRUULHQWHV�&,)�SRU�JUXSRV�GH�SURGXFWRV��VH�FDOFXOD� OD� SDUWLFLSDFLyQ�SRUFHQWXDO� GH� FDGD�XQR�GH� HVWRV� JUXSRV� HQ� ODV� LPSRUWDFLRQHV� WRWDOHV� GHO�SDtV��(O�WpUPLQR�&,)��³FRVW��LQVXUDQFH�DQG�IUHLJKW´��HV�HO�YDORU�GH�ORV�ELHQHV�SXHVWRV�HQ�HO�SXHUWR�GH�GHVWLQR�

��� 070P L

L

GRQGH�PL HV� OD�SDUWLFLSDFLyQ�SRUFHQWXDO�GH�FDGD�JUXSR�GH�ELHQHV�HQ� ODV� LPSRUWDFLRQHV� WRWDOHV�GHO�SDtV��0L HV�HO�YDORU�GH�ODV�LPSRUWDFLRQHV�SRU�FDGD�JUXSR�GH�ELHQHV�HQ�PLOORQHV�GH�GyODUHV�&,)�\�07HV�HO�YDORU�GH�ODV�LPSRUWDFLRQHV�WRWDOHV GHO�SDtV�HQ�PLOORQHV�GH�GyODUHV�&,)�

0HGLGD3RUFHQWDMH

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV8VR�R�GHVWLQR�HFRQyPLFR

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q�HO�6,,6( HO� LQGLFDGRU�HVWi�GHILQLGR�SDUD�HO�SHUtRGR������������HQ� ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\������SURYLVLRQDO��/DV�FLIUDV�VRQ�FRPSDUDEOHV��FRQ�OD�SUHFDXFLyQ�GH�TXH�

Page 66: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

HQ�HO� WUDQVFXUVR�GHO� WLHPSR�VH� LQFRUSRUDQ�QXHYRV�ELHQHV� LPSRUWDEOHV�\�GHVDSDUHFHQ�RWURV��SRU� OR�TXH� DO� DQDOL]DU� YDULRV� DxRV� QR� VH� HVWiQ� FRPSDUDQGR� H[DFWDPHQWH� HO� PLVPR� WLSR� GH� ELHQHV�� HQ�HVSHFLDO�FXDQGR�VH�FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR�

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������

Page 67: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�&20(5&,2�(;7(5,25(VWUXFWXUD�GH�ODV�,PSRUWDFLRQHV

,03257$&,21(6�325�862�2�'(67,12�(&2120,&2�(VWUXFWXUD�3RUFHQWXDO

727$/�,03257$&,21

(6%LHQHV�GH�FRQVXPR 0DWHULDV�3ULPDV %LHQHV�GH�&DSLWDO 'LYHUVRV

3HUtRGR 7RWDO 1R�GXUDGHURV 'XUDGHURV

&RPEXVWLEOHV�\OXEULFDQWHV

7RWDO $JUtFRODV ,QGXVWULDOHV 0DWHULDOHV�GHFRQVWUXFFLyQ

7RWDO $JUtFRODV ,QGXVWULDOHV (TXLSRV�GHWUDQVSRUWH

D E�H�I�M�Q E F�G F G H I J�K�L J K L M N�O�P N O P Q���� ����� ���� ���� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ��� ��� ��� ���� ���� ��� ���� ��� ���� ��� ���� ��� ������� ����� ��� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ��� ��� ��� ���� ���� ��� ���� ��� ���� ��� ���� ��� ������� ����� ��� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ��� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ��� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ���� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ��� ���� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ���� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ������� ����� ���� ���� ��� ��� ���� ��� ���� ��� ���� ��� ���� ��� ������� ����� ���� ���� ��� ��� ���� ��� ���� ��� ���� ��� ���� ��� ������� ����� ���� ���� ��� ��� ���� ��� ���� ��� ���� ��� ���� ���� ���

Page 68: Indicadores Economicos Del Ecuador - Medicion y Fundamento

���68%6(&725�7(50,126�'(�,17(5&$0%,2����7pUPLQRV�GH�LQWHUFDPELR�LQWHUQDFLRQDO

6HFWRU(FRQRPtD

6XEVHFWRU7pUPLQRV�GH�LQWHUFDPELR

)XQGDPHQWR/RV�7pUPLQRV�GH� LQWHUFDPELR� LQWHUQDFLRQDO�VRQ� OD� UHODFLyQ�HQWUH� ORV�SUHFLRV�SURPHGLR�TXH�XQ�SDtV�REWLHQH�SRU� VXV�H[SRUWDFLRQHV� \� ORV�SUHFLRV�SURPHGLR�TXH�SDJD�SRU� VXV� LPSRUWDFLRQHV��8QD�GLVPLQXFLyQ�R�GHWHULRUR��DXPHQWR��HQ�ORV�WpUPLQRV�GH�LQWHUFDPELR�VLJQLILFD�TXH�ORV�SUHFLRV�GH�ODV�H[SRUWDFLRQHV� GH� XQ� SDtV� VH� KDQ� UHGXFLGR� �LQFUHPHQWDGR�� HQ� UHODFLyQ� D� ORV� SUHFLRV� GH� VXV�LPSRUWDFLRQHV��SRU�OR�TXH��FRQ�XQ�PLVPR�YROXPHQ�GH�H[SRUWDFLRQHV��DKRUD�HO�SDtV�SXHGH�LPSRUWDU�XQD� PHQRU� �PD\RU�� FDQWLGDG� GH� ELHQHV�� (Q� WDO� VHQWLGR�� ORV� WpUPLQRV� GH� LQWHUFDPELR� VRQ� XQ�LQGLFDGRU�GH�OD�FDSDFLGDG�GH�XQ�SDtV�GH�ILQDQFLDU�VXV�LPSRUWDFLRQHV�FRQ�ODV�H[SRUWDFLRQHV��

'HILQLFLyQ/RV�7pUPLQRV�GH�LQWHUFDPELR�LQWHUQDFLRQDOORV�PLGH�HO�%DQFR�&HQWUDO�GHO�(FXDGRU�PHGLDQWH�OD�FRQVWUXFFLyQ�GH�XQ� ,QGLFH�GH� ORV�7pUPLQRV�GH� ,QWHUFDPELR�TXH�HV�HO� FRFLHQWH�HQWUH�XQ� tQGLFH�GH�SUHFLRV�GH�ODV�H[SRUWDFLRQHV�\�XQ�tQGLFH�GH�SUHFLRV�GH�ODV�LPSRUWDFLRQHV�FRQ�XQ�PLVPR�DxR�EDVH�

,7, ,3;,30W

W

W ���

GRQGH�,7,W HV�HO�,QGLFH�GH�7pUPLQRV�GH�,QWHUFDPELR�LQWHUQDFLRQDO�HQ�HO�SHUtRGR�W��,3;W HV�HO�tQGLFH�GH� SUHFLRV�� HQ� 86� GyODUHV�� GH� ODV� H[SRUWDFLRQHV� GHO� SDtV� HQ� HO� SHUtRGR� W�� ,30W HV� HO� tQGLFH� GH�SUHFLRV�� HQ� 86� GyODUHV�� GH� ODV� LPSRUWDFLRQHV� GHO� SDtV� HQ� HO� SHUtRGR� W�� /RV� tQGLFHV� VH� FDOFXODQ�WRPDQGR�FRPR�DxR�EDVH�������(O�,3;�FRQVLGHUD�ORV�SULQFLSDOHV�SURGXFWRV�GH�H[SRUWDFLyQ�GHO�SDtV��SHWUyOHR�� EDQDQR�� FDPDUyQ�� FDIp� HQ� JUDQR� \� HODERUDGR�� FDFDR� HQ� JUDQR� H� LQGXVWULDOL]DGR� \� ORV�SURGXFWRV� GH� H[SRUWDFLyQ� QR� WUDGLFLRQDOHV�� (O� ,30� WRPD� HQ� FXHQWD� D� ODV� LPSRUWDFLRQHV�SURYHQLHQWHV� GH� ORV� SULQFLSDOHV� SURYHHGRUHV� GHO� SDtV� HQ�������(VWDGRV�8QLGRV� GH�1RUWHDPpULFD��-DSyQ��$OHPDQLD��&RORPELD���(VSDxD�\�5HVWR�GH�3DtVHV��

0HGLGD,QGLFH�DxR�EDVH������ ����

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��&XDGHUQRV�GH�WUDEDMR��1R�������������

6HULH�FURQROyJLFD�GLVSRQLEOH���������

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV/RV�7pUPLQRV�GH�,QWHUFDPELR�HVWiQ�GHILQLGRV�SDUD�HO�SHUtRGR������������/DV�FLIUDV�VRQ�FRPSDUDEOHV��FRQ�OD�SUHFDXFLyQ�GH�TXH�HQ�HO�WUDQVFXUVR�GHO�WLHPSR�VH�LQFRUSRUDQ�QXHYRV�ELHQHV�H[SRUWDEOHV�R�LPSRUWDEOHV�\�GHVDSDUHFHQ�RWURV��SRU�OR�TXH�DO�DQDOL]DU�YDULRV�DxRV�QR�VH�HVWiQ�FRPSDUDQGR�H[DFWDPHQWH�HO�PLVPR�WLSR�GH�ELHQHV��HQ�HVSHFLDO�FXDQGR�VH�FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR��

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��&XDGHUQRV�GH�7UDEDMR �4XLWR���1R�������MXQLR�GH������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 69: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�7(50,126�'(�,17(5&$0%,2

���� ���� ���� ���� ���� ���� ���� ���� ���� ����7pUPLQRV�GH�,QWHUFDPELR�LQWHUQDFLRQDO,QGLFH�$xR�%DVH������ ���� ����� ����� ����� ����� ����� ����� ����� ����� ����� �����

���� ���� ���� ���� ���� ���� ���� ���� ���� ��������� ����� ����� ����� ����� ����� ����� ����� ���� ��������� ���� ���� ���� ���� ���� ���� ���� ��������� ����� ����� ���� ���� ���� ����� ����� ����

7pUPLQRV�GH�LQWHUFDPELR�LQWHUQDFLRQDO������ ���

��

��

���

���

���

���

���

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

Page 70: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����7pUPLQRV�GH�LQWHUFDPELR�GRPpVWLFR

6HFWRU(FRQRPtD

6XEVHFWRU7pUPLQRV�GH�LQWHUFDPELR

)XQGDPHQWR/RV�7pUPLQRV�GH�LQWHUFDPELR�GRPpVWLFR UHSUHVHQWDQ�OD�UHODFLyQ�HQWUH�ORV�SUHFLRV�SURPHGLRV�GH�ORV�ELHQHV�DJURSHFXDULRV�\�ORV�SUHFLRV�SURPHGLRV�GH�ORV�ELHQHV�QR�DJURSHFXDULRV�

8QD�GLVPLQXFLyQ�R�GHWHULRUR��DXPHQWR��HQ�ORV�WpUPLQRV�GH�LQWHUFDPELR�GRPpVWLFRV�VLJQLILFD�TXH�ORV�SUHFLRV�GH ORV�ELHQHV�QR�DJURSHFXDULRV�KDQ�DXPHQWDGR�HQ�XQD�PD\RU��PHQRU��SURSRUFLyQ�TXH�ORV�SUHFLRV�GH�ORV�ELHQHV�DJURSHFXDULRV���(V�GHFLU��SDUD�REWHQHU�XQ�PLVPR�YROXPHQ�GH�ELHQHV�QR� DJURSHFXDULRV� VH� KDFH� QHFHVDULR� FRQWDU� FRQ� XQD� PD\RU� �PHQRU�� FDQWLGDG� GH� ELHQHV�DJURSHFXDULRV�

'HILQLFLyQ/RV�WpUPLQRV�GH�LQWHUFDPELR�GH�ORV�ELHQHV�DJURSHFXDULRV�UHVSHFWR�GH�ORV�ELHQHV�QR�DJURSHFXDULRV��7,'��VH�FDOFXODURQ�GH�OD�VLJXLHQWH�PDQHUD�

3,%1$LPSOtFLWRGHIODFWRU3,%$LPSOtFLWRGHIODFWRU7,'

GRQGH�3,%$ �3,% GH�ORV�ELHQHV�DJURSHFXDULRV3,%�1$� �3,% GH�ORV�ELHQHV�QR�DJURSHFXDULRV�

'HQWUR�GH�ORV�ELHQHV�DJURSHFXDULRV�VH�KD�LQFOXLGR�D�ORV�ELHQHV�GH�OD�SULPHUD�UDPD�GH�OD�HFRQRPtD��GH�DFXHUGR�D�&,,8��HV�GHFLU��ORV�ELHQHV�GH�OD�UDPD�DJULFXOWXUD��FD]D��VLOYLFXOWXUD�\�SHVFD���(Q�WDQWR�TXH� GHQWUR� GH� ORV� ELHQHV� QR� DJURSHFXDULRV� VH� KD� FRQVLGHUDGR� D� ORV� GH� ODV� UHVWDQWHV� UDPDV� GH� OD�&,,8�� HV� GHFLU�� SHWUyOHR� \� RWUDV� PLQDV�� LQGXVWULDV� PDQXIDFWXUHUDV�� HOHFWULFLGDG�� JDV� \� DJXD��FRQVWUXFFLyQ�� FRPHUFLR� DO� SRU� PD\RU�� DO� SRU� PHQRU�� UHVWDXUDQWHV� \� KRWHOHV�� WUDQVSRUWH��DOPDFHQDPLHQWR� \�FRPXQLFDFLRQHV�� HVWDEOHFLPLHQWRV� ILQDQFLHURV�� VHJXURV� \� VHUYLFLRV�SUHVWDGRV�D�ODV�HPSUHVDV��\��VHUYLFLRV�FRPXQDOHV��VRFLDOHV�\�SHUVRQDOHV�

$� VX� YH]�� HO� GHIODFWRU� LPSOtFLWR� GHO� 3,% GH� ORV� ELHQHV� DJURSHFXDULRV� WDQWR� FRPR� GH� ORV�ELHQHV�QR�DJURSHFXDULRV�VH�FDOFXOy�GLYLGLHQGR�HO�3,%�QRPLQDO� �HQ�VXFUHV�FRUULHQWHV��SDUD�HO�3,%�UHDO��HQ�VXFUHV�GH�������GH�ORV�UHVSHFWLYRV�ELHQHV�\�PXOWLSOLFDQGR�OXHJR�HVWH�UHVXOWDGR�SRU������GH�OD�VLJXLHQWH�PDQHUD�

GHILPS3,%$ 3,%$3,%$

Q

U ���

GHILPS3,%1$ 3,%1$3,%1$

Q

U ���

GRQGH�3,%$Q �3,% GH�ORV�ELHQHV�DJURSHFXDULRV�HQ�WpUPLQRV�QRPLQDOHV3,%$U �3,% GH�ORV�ELHQHV�DJURSHFXDULRV�HQ�WpUPLQRV�UHDOHV3,%1$Q �3,% GH�ORV�ELHQHV�QR�DJURSHFXDULRV�HQ�WpUPLQRV�QRPLQDOHV3,%1$U �3,% GH�ORV�ELHQHV�QR�DJURSHFXDULRV�HQ�WpUPLQRV�UHDOHV�

0HGLGD,QGLFH��DxR�EDVH����� ���

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO�

Page 71: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

�����������DQXDO�'HVJORVHV�GLVSRQLEOHV

(VSDFLDO��SDtV&RPSDUDELOLGDG�GH�ODV�IXHQWHV

(Q�HO�6,,6(��ORV�GDWRV�GH�ORV�7pUPLQRV�GH�LQWHUFDPELR�GRPpVWLFRV�HVWiQ�GHILQLGRV�SDUD�HO�SHUtRGR������������ SDUD� FDGD� DxR� GHO� SHUtRGR�� /RV� GDWRV� FRUUHVSRQGLHQWHV� DO� SHUtRGR� ���������� WLHQHQ�FDUiFWHU�GHILQLWLYR��D������VHPLGHILQLWLYR��\�D�����������SURYLVLRQDO�

%LEOLRJUDItD�%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU�4XLWR��%&(��YDULRV�Q~PHURV�

Page 72: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�7(50,126�'(�,17(5&$0%,2

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����7pUPLQRV�GH�LQWHUFDPELR�GRPpVWLFR,QGLFH�$xR�%DVH������ ���� ����� ����� ����� ���� ���� ���� ���� ����� ����� ����� ����� ����� ����� ����� ���� ���� ���� ����

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� �������� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

7pUPLQRV�GH�LQWHUFDPELR�GRPpVWLFR����� ����

��

��

��

��

��

���

���

�������

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

Page 73: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

����7pUPLQRV�GH�LQWHUFDPELR�ELHQHV�WUDQVDEOHV�� QR�WUDQVDEOHV

6HFWRU(FRQRPtD

6XEVHFWRU7pUPLQRV�GH�LQWHUFDPELR

)XQGDPHQWR/RV�ELHQHV�WUDQVDEOHV�VRQ�ORV�TXH�HVWiQ�H[SXHVWRV�DO�FRPHUFLR�LQWHUQDFLRQDO��HV�GHFLU��VRQ�ELHQHV�TXH�VH�SXHGHQ�H[SRUWDU�R�LPSRUWDU�\�TXH��SRU�OR�WDQWR��HVWiQ�VXMHWRV�D�OD�FRPSHWHQFLD�H[WHUQD��/RV�ELHQHV� QR� WUDQVDEOHV� VyOR� SXHGHQ� FRQVXPLUVH� GHQWUR� GH� OD� HFRQRPtD� HQ� OD� TXH� VH� SURGXFHQ�� HV�GHFLU��QR�SXHGHQ�LPSRUWDUVH�QL�H[SRUWDUVH�

/RV�WpUPLQRV�GH�LQWHUFDPELR�HQWUH�ORV�ELHQHV�WUDQVDEOHV�\�ORV�ELHQHV�QR�WUDQVDEOHV�UHIOHMDQ�OD�UHODFLyQ�TXH�H[LVWH�HQWUH�ORV�SUHFLRV�SURPHGLR�TXH�VH�SDJD�SRU�ORV�ELHQHV�WUDQVDEOHV�\�ORV�SUHFLRV�SURPHGLR�TXH�VH�SDJD�SRU�ORV�ELHQHV�QR�WUDQVDEOHV��8QD�GLVPLQXFLyQ�R�GHWHULRUR��DXPHQWR��HQ�ORV�WpUPLQRV� GH� LQWHUFDPELR� VLJQLILFD� TXH� ORV� SUHFLRV� GH� ORV� ELHQHV� QR� WUDQVDEOHV� KDQ� DXPHQWDGR��GLVPLQXLGR�� HQ� XQD� PD\RU� SURSRUFLyQ� TXH� ORV� SUHFLRV� GH� ORV� ELHQHV� WUDQVDEOHV�� (V� GHFLU�� SDUD�REWHQHU� XQ� PLVPR� YROXPHQ� GH� ELHQHV� QR� WUDQVDEOHV� VH� KDFH� QHFHVDULR� FRQWDU� FRQ� XQD� PD\RU��PHQRU��FDQWLGDG�GH�ELHQHV�WUDQVDEOHV�

/RV� WpUPLQRV� GH� LQWHUFDPELR� GH� ORV� ELHQHV� WUDQVDEOHV� UHVSHFWR� D� ORV� QR� WUDQVDEOHV�UHSUHVHQWDQ�RWUD�IRUPD�GH�GHILQLU�HO�WLSR�GH FDPELR�UHDO�

'HILQLFLyQ/RV�WpUPLQRV�GH�LQWHUFDPELR�GH�ORV�ELHQHV�WUDQVDEOHV�UHVSHFWR�GH�ORV�ELHQHV�QR�WUDQVDEOHV��7,717��VH�FDOFXODURQ�GH�OD�VLJXLHQWH�PDQHUD�

3,%17LPSOtFLWRGHIODFWRU3,%7LPSOtFLWRGHIODFWRU7,717

GRQGH�3,%7 HV�HO�3URGXFWR�,QWHUQR�%UXWR�GH�ORV�ELHQHV�WUDQVDEOHV�\�3,%17 HV�HO�3URGXFWR�,QWHUQR�%UXWR�GH�ORV�ELHQHV�QR�WUDQVDEOHV�

'HQWUR� GH� ORV� ELHQHV� WUDQVDEOHV� VH� KD� LQFOXLGR� D� ORV� ELHQHV� GH� ODV� VLJXLHQWHV� UDPDV� GH� OD�HFRQRPtD�� DJULFXOWXUD�� FD]D�� VLOYLFXOWXUD� \� SHVFD�� SHWUyOHR� \� RWUDV� PLQDV�� H�� LQGXVWULDV�PDQXIDFWXUHUDV�� HV� GHFLU�� ODV� UDPDV� ��� �� \� �� GH� DFXHUGR� D� OD�&,,8�� � (Q� WDQWR� TXH� GHQWUR� GH� ORV�ELHQHV�QR�WUDQVDEOHV�VH�KD�FRQVLGHUDGR�D�ORV�GH�ODV�UDPDV���������������\���GH�OD�&,,8��HV�GHFLU��ORV�ELHQHV�GH� ODV�VLJXLHQWHV� UDPDV��HOHFWULFLGDG��JDV�\�DJXD��FRQVWUXFFLyQ��FRPHUFLR�DO�SRU�PD\RU��DO�SRU�PHQRU��UHVWDXUDQWHV�\�KRWHOHV��WUDQVSRUWH��DOPDFHQDPLHQWR�\�FRPXQLFDFLRQHV��HVWDEOHFLPLHQWRV�ILQDQFLHURV�� VHJXURV� \� VHUYLFLRV� SUHVWDGRV� D� ODV� HPSUHVDV�� \�� VHUYLFLRV� FRPXQDOHV�� VRFLDOHV� \�SHUVRQDOHV�

$�VX�YH]��HO�GHIODFWRU�LPSOtFLWR�GHO�3,% GH�ORV�ELHQHV�WUDQVDEOHV�WDQWR�FRPR�GH�ORV�ELHQHV�QR�WUDQVDEOHV�VH�FDOFXOy�GLYLGLHQGR�HO�3,%�QRPLQDO��HQ�VXFUHV�FRUULHQWHV��SDUD�HO�3,%�UHDO��HQ�VXFUHV�GH�������GH� ORV� UHVSHFWLYRV�ELHQHV� \�PXOWLSOLFDQGR� OXHJR�HVWH� UHVXOWDGR�SRU������GH� OD� VLJXLHQWH�PDQHUD�

GHILPS3,%7 3,%73,%7

Q

U ���

GHILPS3,%17 3,%173,%17

Q

U ���

GRQGH�3,%7Q UHSUHVHQWD�HO�3,% GH�ORV�ELHQHV�WUDQVDEOHV�HQ�WpUPLQRV�QRPLQDOHV��3,%7U UHSUHVHQWD�HO�3,% GH� ORV� ELHQHV� WUDQVDEOHV� HQ� WpUPLQRV� UHDOHV�� 3,%17Q UHSUHVHQWD� HO� 3,% GH� ORV� ELHQHV� QR�WUDQVDEOHV� HQ� WpUPLQRV� QRPLQDOHV� \� 3,%17U UHSUHVHQWD� HO� 3,% GH� ORV� ELHQHV� QR� WUDQVDEOHV� HQ�WpUPLQRV�UHDOHV�

0HGLGD,QGLFH��DxR�EDVH������ ����

)XHQWHV�GH�ORV�GDWRV�SULPDULRV

Page 74: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

%DQFR�&HQWUDO�GHO�(FXDGRU��&XHQWDV�QDFLRQDOHV�6HULHV�FURQROyJLFDV�GLVSRQLEOHV

�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV(VSDFLDO��SDtV

&RPSDUDELOLGDG�GH�ODV�IXHQWHV(Q� HO� 6,,6(�� ORV� GDWRV� GH� ORV� 7pUPLQRV� GH� LQWHUFDPELR� GH� ORV� ELHQHV� WUDQVDEOHV� UHVSHFWR� D� ORV�ELHQHV� QR� WUDQVDEOHV� HVWiQ�GHILQLGRV� SDUD� HO� SHUtRGR������������SDUD� FDGD� DxR�GHO� SHUtRGR��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR��D������VHPLGHILQLWLYR��\�D�����������SURYLVLRQDO�/DV� FLIUDV� VRQ� FRPSDUDEOHV� FRQ� OD� SUHFDXFLyQ� GH� TXH� HQ� HO� WUDQVFXUVR� GHO� WLHPSR� VH� LQFRUSRUDQ�QXHYRV�ELHQHV�H[SRUWDEOHV�R�LPSRUWDEOHV�\�GHVDSDUHFHQ�RWURV��SRU�OR�TXH�DO�DQDOL]DU�YDULRV�DxRV�QR�VH� HVWiQ� FRPSDUDQGR� H[DFWDPHQWH� HO� PLVPR� WLSR� GH� ELHQHV�� HQ� HVSHFLDO� FXDQGR� VH� FRPSDUDQ�SHUtRGRV�SURORQJDGRV�GH�WLHPSR�

%LEOLRJUDItD�%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�

x 6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD�HGLFLyQ��0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

Page 75: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�7(50,126�'(�,17(5&$0%,2

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����7pUPLQRV�GH�LQWHUFDPELR�ELHQHV�WUDQVDEOHV�� QR�WUDQVDEOHV,QGLFH�$xR�%DVH������ ���� ����� ����� ����� ����� ����� ����� ����� ���� ���� ����� ����� ���� ���� ���� ����� ���� ���� ����

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ��������� ����� ����� ���� ���� ���� ����� ����� ����� ����� ���� ���� ���� ���� ���� ����

7pUPLQRV�GH�LQWHUFDPELR�ELHQHV�WUDQVDEOHV���QR�WUDQVDEOHV�

����� ����

��

��

��

���

���

���

���

���

1965

1967

1969

1971

1973

1975

1977

1979

1981

1983

1985

1987

1989

1991

1993

1995

1997

Page 76: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

���68%6(&725�'(8'$�(;7(51$�����'HXGD�H[WHUQD

6HFWRU(FRQRPtD

6XEVHFWRU'HXGD�H[WHUQD

)XQGDPHQWR/D�GHXGD�H[WHUQD HV�HO�FRQMXQWR�GH�REOLJDFLRQHV��IUXWR�GH�OD�FRQWUDWDFLyQ�GH�FUpGLWRV�H[WHUQRV��TXH�ORV�DJHQWHV�HFRQyPLFRV�GHO�SDtV�GHEHQ�VDOGDU�FRQ�DFUHHGRUHV�H[WHUQRV�HQ�XQ�SOD]R�GHWHUPLQDGR��/D�GHXGD� H[WHUQD� SXHGH� VHU� � S~EOLFD� \� SULYDGD�� /D� GHXGD� H[WHUQD� S~EOLFD HV� HO� FRQMXQWR� GH�REOLJDFLRQHV�TXH�HO�6HFWRU�3~EOLFR�GHO�SDtV�GHEH�VDOGDU�FRQ�DFUHHGRUHV�H[WHUQRV��/D�GHXGD�H[WHUQD�SULYDGD HV�HO�FRQMXQWR�GH�REOLJDFLRQHV�TXH�HO�6HFWRU�3ULYDGR�GHO�SDtV GHEH�VDOGDU�FRQ�DFUHHGRUHV�H[WHUQRV��(O� VHUYLFLR� GH� OD� GHXGD� H[WHUQD�FRQVLVWH� GH� ORV� UHFXUVRV� GHVWLQDGRV� D� DWHQGHU� HO� SDJR� GH�DPRUWL]DFLyQ��LQWHUHVHV��FRPLVLRQHV�GH�FRUWR�\�ODUJR�SOD]RV��D�ORV�DFUHHGRUHV�H[WHUQRV�GHO�SDtV��/D�DPRUWL]DFLyQ HV� OD� GLVPLQXFLyQ� JUDGXDO� GHO� PRQWR� R� YDORU� WRWDO� GH� XQ� FUpGLWR� PHGLDQWH� SDJRV�SDUFLDOHV�R�UHHPEROVRV��(O�LQWHUpV HV�OD�UHPXQHUDFLyQ�TXH�UHFLEH�HO�DFUHHGRU�R�GXHxR�GHO�FDSLWDO�GH�FUpGLWR��HQ�XQ�SHUtRGR�GH�WLHPSR��SRU�SRQHUOR�D�GLVSRVLFLyQ�GHO�GHXGRU�

'HILQLFLyQ(Q�HO�6,,6( HO�QLYHO�GH�GHXGD�H[WHUQD�HFXDWRULDQD�VH�PLGH�XWLOL]DQGR�HO�6DOGR�ILQDO�PiV�DWUDVRV�GH�LQWHUHVHV��TXH�HV�HO�PRQWR�WRWDO�GH�FUpGLWRV�SHQGLHQWHV�GH�UHHPEROVR�DO����GH�GLFLHPEUH�GH�FDGD�DxR��VDOGR�LQLFLDO�PiV�GHVHPEROVRV�PHQRV�DPRUWL]DFLRQHV�PiV�DMXVWHV�SRU�YDULDFLyQ�HQ�HO�WLSR�GH�FDPELR��PiV�HO�PRQWR�DFXPXODGR�GH�LQWHUHVHV�DGHXGDGRV�\�QR�SDJDGRV�HQ�ODV�IHFKDV�HVWDEOHFLGDV�FRQWUDFWXDOPHQWH��1R�LQFOX\H�LQWHUHVHV�VREUH�DWUDVRV�GH�LQWHUHVHV��6H�XWLOL]DQ�WUHV��LQGLFDGRUHV�GHO�QLYHO�GH�GHXGD�H[WHUQD��HQ�PLOORQHV�GH�GyODUHV��FRPR�SRUFHQWDMH�GHO�3,%�\�SHU�FiSLWD��(O� VHUYLFLR� GH� OD� GHXGD� H[WHUQD VH� PLGH� XWLOL]DQGR� HO� WRWDO� GH� ORV� UXEURV� DPRUWL]DFLRQHV� H�LQWHUHVHV��HQ�PLOORQHV�GH�GyODUHV�\�FRPR�SRUFHQWDMH�GHO�3,%��/DV�DPRUWL]DFLRQHV� WRWDOHV VRQ�HO� UHVXOWDQWH�GH� OD�VXPD�GH� ODV�DPRUWL]DFLRQHV�HIHFWLYDV�PiV� ODV�DPRUWL]DFLRQHV� UHILQDQFLDGDV� \� FRQGRQDGDV�� /DV� DPRUWL]DFLRQHV� HIHFWLYDV� FRQVLVWHQ� HQ� OD�FDQFHODFLyQ�HQ�HIHFWLYR��GXUDQWH�XQ�SHUtRGR�GHWHUPLQDGR��GH�ODV�FXRWDV�GH�FDSLWDO�GH�ORV�FUpGLWRV��LQFOX\HQGR� ORV� YHQFLPLHQWRV� GH� HVH� SHUtRGR� \�R� GH� DQWHULRUHV� �SDJR� GH� DWUDVRV��� /DV�DPRUWL]DFLRQHV�UHILQDQFLDGDV�\�FRQGRQDGDV�FRUUHVSRQGHQ�DO�PRQWR�GH�FDSLWDO�UHRUJDQL]DGR�GXUDQWH�XQ�SHUtRGR�GHWHUPLQDGR�� LQFOX\HQGR�YHQFLPLHQWRV�GHO�SHUtRGR�FRUULHQWH� \�GH�SHUtRGRV�DQWHULRUHV��DWUDVRV�GH�FDSLWDO���/RV� LQWHUHVHV� WRWDOHV VRQ� HO� UHVXOWDQWH� GH� OD� VXPD� GH� ORV� LQWHUHVHV� HIHFWLYRV� PiV� ORV� LQWHUHVHV�UHILQDQFLDGRV� \� FRQGRQDGRV�� /RV� LQWHUHVHV� HIHFWLYRV� FRQVLVWHQ� HQ� OD� FDQFHODFLyQ� HQ� HIHFWLYR� GH�LQWHUHVHV�� GXUDQWH� XQ� SHUtRGR� GHWHUPLQDGR�� LQFOX\HQGR� ORV� YHQFLPLHQWRV� GH� HVH� SHUtRGR� \�R� GH�DQWHULRUHV��SDJR�GH�DWUDVRV���DVt�FRPR�HO�SDJR�GH�LQWHUHVHV�GH�PRUD��FRPLVLRQHV�\�RWURV�JDVWRV��/RV�LQWHUHVHV�UHILQDQFLDGRV�\�FRQGRQDGRV�FRUUHVSRQGHQ�DO�PRQWR�GH�LQWHUHVHV�FRQYHUWLGRV�HQ�SDVLYR�GH�FDSLWDO� GXUDQWH� XQ� SHUtRGR� GHWHUPLQDGR�� LQFOX\HQGR� YHQFLPLHQWRV� GHO� SHUtRGR� FRUULHQWH� \� GH�SHUtRGRV�DQWHULRUHV��DWUDVRV��

0HGLGD0LOORQHV�GH�GyODUHV3RUFHQWDMH�GHO�3,%'yODUHV�SHU�FiSLWD

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��HQHUR�GH������%DQFR�&HQWUDO�GHO�(FXDGRU��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD������������

6HULHV�FURQROyJLFDV�GLVSRQLEOHV�����������TXLQTXHQDO������������DQXDO�

'HVJORVHV�GLVSRQLEOHV

Page 77: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

(VSDFLDO� SDtV&RPSDUDELOLGDG�GH�ODV�IXHQWHV

(Q�HO�6,,6( HVWH�LQGLFDGRU�HVWi�GHILQLGR�SDUD�HO�SHUtRGR������������HQ�ODSVRV�GH�FLQFR�DxRV�KDVWD������\�SDUD�FDGD�DxR�HQ�OD�GpFDGD�GHO�QRYHQWD��/RV�GDWRV�FRUUHVSRQGLHQWHV�DO�SHUtRGR�����������WLHQHQ�FDUiFWHU�GHILQLWLYR�\������D�SURYLVLRQDO��/DV�FLIUDV�VRQ�FRPSDUDEOHV��

2EVHUYDFLRQHV�/DV� FLIUDV� GH� ����� LQFOX\HQ� OD� UHQHJRFLDFLyQ� GH� OD� GHXGD� H[WHUQD� S~EOLFD� HFXDWRULDQD� HQ� HO�FRQWH[WR� GHO�3ODQ�%UDG\��3RU� WDO�PRWLYR�� DSDUHFHQ� HQ� HVH� DxR�YDORUHV� DOWRV� GH� DPRUWL]DFLRQHV� H�LQWHUHVHV���

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO��0HWRGRORJtD� 4XLWR��%&(�������%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��&XHQWDV�QDFLRQDOHV�GHO�(FXDGRU� 4XLWR��%&(��YDULRV�Q~PHURV�%&(��6HWHQWD�DxRV�GH�LQIRUPDFLyQ�HVWDGtVWLFD�������������4XLWR��%&(�������'251%86&+� 5XGLJHU�� ),6&+(5�� 6WDQOH\� \� 6&+0$/(16((��5LFKDUG��(FRQRPtD� 6HJXQGD�

HGLFLyQ��0p[LFR��0F*UDZ�+LOO�������'251%86&+� 5XGLJHU� \� ),6&+(5�� 6WDQOH\� 0DFURHFRQRPtD�� 4XLQWD� HGLFLyQ�� 0DGULG��

0F*UDZ�+LOO�������/25$� (GXDUGR�� 7pFQLFDV� GH� PHGLFLyQ� HFRQyPLFD�� 6HJXQGD� (GLFLyQ�� %RJRWi�� 7HUFHU� 0XQGR�

(GLWRUHV�������6$&+6� -HIIUH\� \� /$55$Ë1�� )HOLSH��0DFURHFRQRPtD� HQ� OD� HFRQRPtD� JOREDO�� 3ULPHUD� HGLFLyQ��

0p[LFR��3UHQWLFH�+DOO�+LVSDQRDPHULFDQD�������

���

���

���

���

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

����

'HXGD�H[WHUQD��GyODUHV�SHU�FiSLWD�

3~EOLFD 3ULYDGD

Page 78: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�'(8'$�(;7(51$

'(8'$�(;7(51$ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����6DOGR�)LQDO�GH�OD�'HXGD�([WHUQD0LOORQHV�GH�GyODUHV7RWDO ����� ����� ����� ������ ������ ������� ������� ������� ������� ������� ������� ������� ������� �������3~EOLFD ����� ����� ����� ������ ������ ������� ������� ������� ������� ������� ������� ������� ������� �������3ULYDGD ��� ���� ���� ������ ����� ����� ����� ����� ����� ����� ������ ������ ������ ������

��GHO�3,%7RWDO ����� ����� ����� ����� ����� ������ ������ ������ ����� ����� ����� ����� ����� �����3~EOLFD ����� ����� ����� ����� ����� ������ ������ ������ ����� ����� ����� ����� ����� �����3ULYDGD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ����� �����

'yODUHV�SHU�FiSLWD7RWDO ���� ���� ���� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������ ������3~EOLFD ���� ���� ���� ����� ����� ������ ������ ������ ������ ������ ������ ������ ������ ������3ULYDGD ��� ��� ��� ����� ���� ���� ���� ���� ���� ���� ����� ����� ����� �����

6(&725�(&2120,$68%6(&725�'(8'$�(;7(51$

6HUYLFLR�GH�OD�'HXGD�([WHUQD7RWDO��3~EOLFD�\ 3ULYDGD� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0LOORQHV�GH�GyODUHV7RWDO ���� ���� ���� ������ ������ ������ ������ ������ ������ ������ ������� ������ ������ ������$PRUWL]DFLyQ ���� ���� �� ����� ������ ����� ����� ���� ����� ������ ������ ������ ������ ������,QWHUHVHV ��� ��� ���� ����� ����� ����� ����� ����� ����� ����� ������ ����� ����� ���

��GHO�3,%7RWDO ���� ���� ���� ����� ����� ����� ����� ����� ���� ����� ����� ����� ����� �����$PRUWL]DFLyQ ���� ���� ���� ���� ����� ���� ���� ���� ���� ���� ����� ����� ����� �����,QWHUHVHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ���� ���� ����

Page 79: Indicadores Economicos Del Ecuador - Medicion y Fundamento

6(&725�(&2120,$68%6(&725�'(8'$�(;7(51$

6HUYLFLR�GH�OD�'HXGD�([WHUQD3~EOLFD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0LOORQHV�GH�GyODUHV7RWDO ���� ���� ���� ����� ������ ������ ������ ������ ����� ������ ������ ������ ������ ������$PRUWL]DFLyQ ���� ���� ���� ����� ������ ����� ����� ������ ����� ����� ������ ����� ������ �����,QWHUHVHV ��� � ���� ����� ����� ����� ����� ����� ����� ����� ������ ����� ����� �����

��GHO�3,%7RWDO ���� ���� ���� ���� ����� ����� ����� ����� ���� ���� ����� ���� ���� ����$PRUWL]DFLyQ ���� ���� ���� ���� ����� ���� ���� ���� ���� ���� ����� ���� ���� ����,QWHUHVHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ���� ���� ����

6(&725�(&2120,$68%6(&725�'(8'$�(;7(51$

6HUYLFLR�GH�OD�'HXGD�([WHUQD3ULYDGD ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����0LOORQHV�GH�GyODUHV7RWDO ��� ��� ���� ����� ����� ���� ���� ���� ����� ������ ������ ������ ������ ������$PRUWL]DFLyQ ��� ��� ��� ����� ����� ���� ���� ���� ����� ������ ������ ������ ������ ������,QWHUHVHV ��� ��� ��� ����� ���� ���� ���� ���� ���� ����� ����� ����� ����� �����

��GHO�3,%7RWDO ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ����� ����� �����$PRUWL]DFLyQ ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����� ����� ����� �����,QWHUHVHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

Page 80: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

���68%6(&725�),1$1=$6�38%/,&$6

�����)LQDQ]DV�S~EOLFDV6HFWRU

(FRQRPtD6XEVHFWRU

)LQDQ]DV�S~EOLFDV)XQGDPHQWR

/DV�)LQDQ]DV�S~EOLFDVFRPSUHQGHQ�HO�FRQMXQWR�GH�HOHPHQWRV�R�LQVWUXPHQWRV�ILVFDOHV�TXH�SDUWLFLSDQ�HQ�OD�FDSWDFLyQ�GH�UHFXUVRV��DGPLQLVWUDFLyQ�GH�ORV�PLVPRV�\�JDVWRV�TXH�UHDOL]D�HO�(VWDGR�D�WUDYpV�GH�ODV�GLIHUHQWHV�LQVWLWXFLRQHV�GHO�VHFWRU�S~EOLFR��

(Q� HO�6,,6(�� SDUD� DQDOL]DU� HO� GHVHPSHxR�GH� ODV� ILQDQ]DV� S~EOLFDV� HFXDWRULDQDV� VH� XWLOL]DQ� ODV�RSHUDFLRQHV� GHO� 6HFWRU� S~EOLFR� QR� ILQDQFLHUR� �631)� TXH� FRPSUHQGH� DO� *RELHUQR� FHQWUDO�� ODV�(PSUHVDV�S~EOLFDV�\�HO�UHVWR�GHO�*RELHUQR�JHQHUDO��(VWD�FODVLILFDFLyQ�HV�SXUDPHQWH�PDFURHFRQyPLFD��VH�XWLOL]D�HQ�ODV�QHJRFLDFLRQHV�FRQ�HO�)0, \�QR�QHFHVDULDPHQWH�FRLQFLGH�FRQ�OD�FODVLILFDFLyQ�TXH�FRQVWD�HQ�OD�/H\�GH�3UHVXSXHVWRV��

(O�*RELHUQR� FHQWUDO� LQFRUSRUD� HO� 3UHVXSXHVWR� GHO� (VWDGR� \� HO� )RQGR� GH�'HVDUUROOR� 6HFFLRQDO��)2'(6(&��� (O� 3UHVXSXHVWR� GHO� (VWDGR� HV� HO� TXH� VH� HQYtD� DO� &RQJUHVR� FDGD� DxR�� (O� )2'(6(&�FRQVLVWH�HQ�XQ�IRQGR�TXH�VH�HQWUHJD�D�WUDYpV�GHO�3UHVXSXHVWR�GHO�(VWDGR�D�ORV�*RELHUQRV�VHFFLRQDOHV�

6(&725�38%/,&2�12�),1$1&,(52

*2%,(512�&(175$/ (035(6$6�38%/,&$6 5(672�'(/�*2%,(512�*(1(5$/35(6838(672 3(752(&8$'25 ,(66)2'(6(& (0(7(/ %'(

,1(&(/ *2%,(5126��6(&&,21$/(6275$6 27526

/D�VLWXDFLyQ�ILQDQFLHUD�GHO�631)�WDPELpQ�LQFRUSRUD�ORV�UHVXOWDGRV�GH�ODV�(PSUHVDV�3~EOLFDV��HQWUH�ODV�FXDOHV�SULQFLSDOPHQWH�HVWiQ�3HWURHFXDGRU��(0(7(/��,1(&(/�\�HO�UHVWR�GH�HPSUHVDV� 'H�LJXDO�PDQHUD�GHQWUR�GHO�631)�VH� LQFOX\H�HO� UHVXOWDGR�GHO� UHVWR�GHO�*RELHUQR�JHQHUDO� HQ�HO�TXH�FRQVWD�HO� ,(66��HO�%('(��ORV�*RELHUQRV�VHFFLRQDOHV�\�2WURV�UHVLGXDOHV�FRPR�SRU�HMHPSOR�ODV�$XWRULGDGHV�3RUWXDULDV�

(O�5HVXOWDGR�ILVFDO��GpILFLW�R�VXSHUiYLW��UHSUHVHQWD�OD�GLIHUHQFLD�HQWUH�ORV�LQJUHVRV�\�JDVWRV�GHO�VHFWRU�S~EOLFR��&XDQGR�ORV�LQJUHVRV�VRQ�PD\RUHV�D�ORV�JDVWRV�VH�WLHQH�XQ�VXSHUiYLW��HQ�WDQWR��TXH�VL�ORV�JDVWRV�VRQ�PD\RUHV�D�ORV�LQJUHVRV�VH�WLHQH�XQ�GpILFLW��(VWH�UHVXOWDGR�SXHGH�GHWHUPLQDUVH�HQ�WpUPLQRV�GH�FDMD�R�GHYHQJDGR�� HV�GHFLU�� HQ�HO�SULPHU�FDVR�� UHJLVWUDQGR� WDQWR� LQJUHVRV�FRPR�JDVWRV�HIHFWLYDPHQWH�UHFDXGDGRV�R� UHDOL]DGRV� \�� HQ� HO� VHJXQGR� FDVR�� UHJLVWUDQGR� ORV� LQJUHVRV� \� ORV� JDVWRV� HQ� WpUPLQRV� GH�FRPSURPLVRV� R� GHYHQJDGR�� (O� UHJLVWUR� GH� ORV� GDWRV� HQ� WpUPLQRV� GH� FRPSURPLVR� R� GHYHQJDGR�FRPSUHQGH�WDQWR�ORV�JDVWRV�HIHFWLYDPHQWH�UHDOL]DGRV�FRPR�DTXHOORV�TXH�HVWiQ�FRPSURPHWLGRV�SHUR�TXH�D~Q� QR� KDQ� VLGR� FDQFHODGRV�� 3RU� OR� JHQHUDO�� SDUD� HO� VHJXLPLHQWR� GH� OD� SRVLFLyQ� ILVFDO� VH� XWLOL]D� HO�FRQFHSWR�PL[WR�GH�LQJUHVRV�HQ�HIHFWLYR�\�JDVWRV�HQ�GHYHQJDGR��\D�TXH�HO�YDORU�GH�ORV�JDVWRV�HIHFWLYRV�VXEHVWLPDQ�ORV�UHTXHULPLHQWRV�GH�UHFXUVRV�GHO�*RELHUQR��

'H� LJXDO� PDQHUD�� GHSHQGLHQGR� GHO� RUGHQDPLHQWR� GH� ORV� LQJUHVRV� \� GH� ORV� JDVWRV� VH� WLHQH�GLIHUHQWHV�FRQFHSWRV�GH�UHVXOWDGR�ILVFDO�R�GpILFLW�ILVFDO��(O�SULPHUR�FRUUHVSRQGH�DO�UHVXOWDGR�R�GpILFLW�JOREDO \� HV� DTXHO� TXH� VH� REWLHQH� GH� OD� GLIHUHQFLD� HQWUH� ORV� LQJUHVRV� �VLQ� LQFOXLU� GHVHPEROVRV�� \� ORV�JDVWRV� �VLQ� LQFOXLU� DPRUWL]DFLRQHV�SHUR� LQFOX\HQGR�HO�SDJR�GH� LQWHUHVHV���8Q VHJXQGR�FRQFHSWR�HV� HO�UHVXOWDGR�R�GpILFLW�SULPDULR��TXH�FRQVLVWH�HQ�OD�GLIHUHQFLD�HQWUH�LQJUHVRV��VLQ�LQFOXLU�GHVHPEROVRV��\�JDVWRV��VLQ�LQFOXLU�QL�DPRUWL]DFLRQHV�QL�HO�SDJR�GH�LQWHUHVHV���8QD�WHUFHUD�GHILQLFLyQ�HV�HO�UHVXOWDGR�R�GpILFLW� SUHVXSXHVWDULR�� HO� FXDO� UHVXOWD� GH� OD� GLIHUHQFLD� HQWUH� LQJUHVRV� �LQFOX\HQGR� GHVHPEROVRV�� \�

Page 81: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

JDVWRV��LQFOX\HQGR�DPRUWL]DFLRQHV���(VWH�~OWLPR�RUGHQDPLHQWR�HV�HO�TXH�VH�XWLOL]D�HQ�OD�IRUPXODFLyQ�GHO�3UHVXSXHVWR�GHO�(VWDGR�TXH� VH�HQYtD�DO�&RQJUHVR�1DFLRQDO��(Q�HO� FDVR�GHO�6,,6( VH�XWLOL]DQ� ODV�GRV�SULPHUDV�GHILQLFLRQHV�GH�GpILFLW��

(O� UHVXOWDGR� JOREDO� HV� XQ� LQGLFDGRU� LPSRUWDQWH� GH� SROtWLFD� ILVFDO�� /D� FRPSDUDFLyQ� HQWUH� ORV�UHVXOWDGRV�JOREDO�\�SULPDULR�SHUPLWH�UHYHODU�OD�FDUJD�TXH�UHSUHVHQWD�OD�GHXGD�HQ�HO�SDtV��SULQFLSDOPHQWH�OD GHXGD�H[WHUQD��(V�GHFLU��PLHQWUDV�HO�UHVXOWDGR�SULPDULR�SXHGH�VHU�VXSHUDYLWDULR��HO�UHVXOWDGR�JOREDO�SXHGH�VHU�GHILFLWDULR�GHELGR�D�OD�LQFOXVLyQ�GH�ORV�SDJRV�SRU�LQWHUHVHV�SDUD�VX�FiOFXOR�(O�GpILFLW�JOREDO��VL�QR�HV�UHGXFLGR�D�WUDYpV�GHO�DXPHQWR�GH�LQJUHVRV�R�OD�GLVPLQXFLyQ�GH�JDVWRV��GHEH�QHFHVDULDPHQWH�ILQDQFLDUVH�PHGLDQWH�ODV�VLJXLHQWHV�DOWHUQDWLYDV�

D�� �)LQDQFLDPLHQWR�H[WHUQR�QHWR��HV�GHFLU�� ORV�GHVHPEROVRV�H[WHUQRV�TXH�VH� UHFLEHQ�PHQRV� ODV�DPRUWL]DFLRQHV�TXH�VH�SDJDQ��

E���)LQDQFLDPLHQWR�LQWHUQR�QHWR��FRUUHVSRQGH�D�OD�FRORFDFLyQ�GH�ERQRV�HQ�HO�PHUFDGR�QDFLRQDO�PHQRV�OD�DPRUWL]DFLyQ�GH�ERQRV��

F� 9DULDFLyQ�GH�6DOGRV�HQ�HO�%DQFR�&HQWUDO��/RV� LQJUHVRV� WRWDOHV� GHO� 631) VH� GLYLGHQ� HQ� WUHV� JUDQGHV� JUXSRV�� LQJUHVRV� SHWUROHURV�� LQJUHVRV� QR�SHWUROHURV�\�VXSHUiYLW�RSHUDFLRQDO�GH�ODV�HPSUHVDV�S~EOLFDV��'HQWUR�GH�ORV�LQJUHVRV�SHWUROHURV�VH�WLHQHQ�D� ORV� LQJUHVRV� SRU� H[SRUWDFLRQHV� GH� SHWUyOHR� \� GHULYDGRV� \� D� ORV� LQJUHVRV� SRU� YHQWD� LQWHUQD� GH�GHULYDGRV��3RU�VX�SDUWH��ORV�LQJUHVRV�QR�SHWUROHURV�LQFOX\HQ�SULQFLSDOPHQWH�ORV�LQJUHVRV�WULEXWDULRV�\�ODV�FRQWULEXFLRQHV�D� OD�VHJXULGDG�VRFLDO��(O� WRWDO�GH� �,QJUHVRV�7ULEXWDULRV�FRPR�SRUFHQWDMH�GHO�3,%�HV�XQ�LQGLFDGRU�GHO�HVIXHU]R�GH�UHFDXGDFLyQ�R�FDUJD�WULEXWDULD�GH�XQ�SDtV���'HQWUR�GH�ORV�,QJUHVRV�WULEXWDULRV�VH�WLHQH�SULQFLSDOPHQWH�D�ORV�LPSXHVWRV�DO�YDORU�DJUHJDGR��,9$���D�OD�UHQWD��D�ORV�FRQVXPRV�HVSHFLDOHV��,&(��\�ORV�LQJUHVRV�DUDQFHODULRV�'HQWUR�GHO�JDVWR FRUULHQWH�ORV�SULQFLSDOHV�UXEURV�FRUUHVSRQGHQ�D�6XHOGRV�\�VDODULRV��3DJR�GH�LQWHUHVHV�LQWHUQRV�\�H[WHUQRV�\�&RPSUD�GH�ELHQHV�\�VHUYLFLRV��5HVSHFWR�D�ORV�JDVWRV�GH�FDSLWDO��HO�SULQFLSDO�UXEUR�FRUUHVSRQGH�D�OD�)RUPDFLyQ�GH�FDSLWDO�ILMR�

'HILQLFLyQ&DGD�UXEUR�GH�ORV�UHVXOWDGRV�ILVFDOHV�VH�PLGH�FRPR�SRUFHQWDMH�GHO�3,%��D�ILQ�GH�WHQHU�XQD�LGHD�GH�VX�GLPHQVLyQ�HQ�UHODFLyQ�FRQ�HO�WDPDxR�GH�OD�HFRQRPtD�\�IDFLOLWDU�OD�FRPSDUDFLyQ�LQWHUWHPSRUDO�

0HGLGD3RUFHQWDMH�GHO�3,%

)XHQWHV�GH�ORV�GDWRV�SULPDULRV%DQFR�&HQWUDO�GHO�(FXDGRU��%ROHWtQ�DQXDULR��1R�����������

6HULH�FURQROyJLFD�GLVSRQLEOH���������

'HVJORVHV�GLVSRQLEOHV(VSDFLDO� SDtV

%LEOLRJUDItD%&(��,QIRUPDFLyQ�HVWDGtVWLFD�PHQVXDO� 4XLWR��%&(�������%&(��%ROHWtQ�DQXDULR �4XLWR���1R�����������&$55(5$�� -RVp� \� /(Ï1�� 0DXULFLR�� �(VWUXFWXUD� \� SULQFLSDOHV� WHQGHQFLDV� GHO� VLVWHPD� ILVFDO�

HFXDWRULDQR���,QIRUPH�GH�FRQVXOWRUtD��4XLWR��&21$0��3UR\HFWR�0267$��VHSWLHPEUH�GH������

Page 82: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�),1$1=$6�38%/,&$6

23(5$&,21(6�'(/�6(&725�38%/,&2�12�),1$1&,(523RUFHQWDMHV�GHO�3,%

&RQFHSWR��������$xRV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����,1*5(626�727$/(6 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����3HWUROHURV ��� ��� ��� ���� ��� ��� ��� ��� ��� ��� ��� ���3RU�H[SRUWDFLRQHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���3RU�YHQWD�GH�GHULYDGRV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

1R�3HWUROHURV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����,9$ ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���,&( ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$�OD�UHQWD ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$UDQFHODULRV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$�OD�VDOLGD�GHO�SDtV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$�OD�FRPSUD�YHQWD�GH�GLYLVDV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���$�ODV�RSHUDFLRQHV�GH�FUpGLWR�HQ�P�Q ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RQWULEXFLRQHV�6HJXULGDG�6RFLDO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

6XSHUiYLW�2SHUDFLRQDO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���3HWURHFXDGRU ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���,QHFHO ��� ��� ��� ��� ��� ��� ��� ��� ��� ���� ��� ����(PHWHO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

Page 83: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�),1$1=$6�38%/,&$6

23(5$&,21(6�'(/�6(&725�38%/,&2�12�),1$1&,(523RUFHQWDMHV�GHO�3,%

&RQFHSWR��������$xRV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����*$6726�727$/(6 ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����*DVWRV�&RUULHQWHV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

,QWHUHVHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���([WHUQRV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���,QWHUQRV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

6XHOGRV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���&RPSUD�GH�ELHQHV�\�VHUYLFLRV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���7UDQVIHUHQFLDV�6HJXULGDG�6RFLDO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

*DVWRV�GH�&DSLWDO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���)RUP�%UXWD�&DSLWDO�)LMR ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���*RELHUQR�FHQWUDO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���(PSUHVDV�S~EOLFDV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

3HWURHFXDGRU ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���,QHFHO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���(PHWHO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WUDV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

5HVWR�VHFWRU�S~EOLFR ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���*RELHUQRV�VHFFLRQDOHV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���2WURV ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

2WURV�GH�&DSLWDO ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ���

Page 84: Indicadores Economicos Del Ecuador - Medicion y Fundamento

��

6(&725�(&2120,$68%6(&725�),1$1=$6�38%/,&$6

23(5$&,21(6�'(/�6(&725�38%/,&2�12�),1$1&,(523RUFHQWDMHV�GHO�3,%

&RQFHSWR��������$xRV ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

5(68/7$'2�*/2%$/ ���� ���� ���� ��� ���� ���� ���� ��� ���� ���� ���� ����5(68/7$'2�35,0$5,2 ���� ��� ��� ��� ��� ��� ��� ��� ��� ��� ��� ����

������������������������������������

���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ���� ����

'pILFLW�R�VXSHUiYLW�ILVFDO

'pILFLW�JOREDO 'pILFLW�SULPDULR