BCE reported growth of 3.5% in the Ecuadorian economy

The Central Bank of Ecuador (BCE) said in a statement that the Ecuadorian economy grew 3.5% in the second quarter of this year compared to the same period in 2013.

The growth is mainly by the performance of non-oil sector, which contributed 2.85 percentage points, confirming that the country will achieve the expected growth projection for this year of 4%, according to the manager of the BCE, Mateo Villalba.

“Ecuador is one of the fastest growing economies. Keeps fairly high quarterly growth, followed by Uruguay, “the official said.

The report notes that in supply and end-use of goods and services in the second quarter of 2014, what grew by more were goods and services exports (7.3%) and the gross fixed capital formation (4.6 %).

While the sectors that decreased were oil refining (-15.4,) post and communications (-1.9) and teaching, health and social services (0-0.7%).