Formal Borrowing Statistics in Ecuador (2026)
As of the 2024 data, 16.1% of adults in Ecuador borrowed from a formal financial institution, per World Bank Global Findex. Down from 23.2% in 2021 to 16.1% in 2024 (−7.1 percentage points). Ecuador ranks #10 of 20 economies in Latin America & Caribbean on this measure, and #69 of 142 globally.
Key Statistics
- Latest value (2024)
- 16.1% (2024)
- Formal Borrowing in Ecuador as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- −7.1 pp (2024)
- Down from 23.2% in 2021 to 16.1% in 2024 (−7.1 percentage points).
- Earliest value in this dataset (2014)
- 16.7% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Down from 16.7% in 2014 to 16.1% in 2024.
- Peak value (2021)
- 23.2% (2021)
- Highest value in the available series; the 2024 value is 16.1%.
- Rank in Latin America & Caribbean
- #10 of 20 (2024)
- Ecuador ranks 10 of 20 countries in Latin America & Caribbean with data, based on each country's latest value.
- Global rank
- #69 of 142 (2024)
- Ecuador ranks 69 of 142 countries with data globally.
- Latin America & Caribbean average
- 18.9% (2024)
- Ecuador (16.1%) is below the average of 18.9% across the 20 countries in Latin America & Caribbean with data.
- Among women (2024)
- 11.6% (2024)
- Value for women in Ecuador, same 2024 World Bank Global Findex data.
- Among men (2024)
- 21% (2024)
- Value for men in Ecuador, same 2024 World Bank Global Findex data.
- Gender gap (women minus men)
- −9.4 pp (2024)
- In 2024, the figure was 11.6% for women and 21% for men — 9.4 percentage points lower among women.
- Among the poorest 40% (2024)
- 10.2% (2024)
- Value for adults in the poorest 40% of households in Ecuador in 2024.
- Poorest-40% gap vs national
- −5.9 pp (2024)
- The poorest 40% (10.2%) are 5.9 percentage points below the national figure (16.1%).
- Internet use in Ecuador (2024)
- 77.2% (2024)
- 77.2% of the population in Ecuador used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 18.1 million (2024)
- Ecuador had a population of 18.1 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 16.1% | −7.1 pp |
| 2021 | 23.2% | +6.6 pp |
| 2017 | 16.7% | −0.1 pp |
| 2014 | 16.7% | — |
Frequently asked questions
What share of adults in Ecuador borrowed from a formal financial institution?
16.1% of adults in Ecuador borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
Where does the formal borrowing data for Ecuador come from?
The data comes from the World Bank Global Findex (indicator fin22a). The latest observation for Ecuador is from 2024; the snapshot was retrieved on 2026-06-10.
How has formal borrowing in Ecuador changed over time?
World Bank Global Findex data show a decline from 16.7% in 2014 to 16.1% in 2024.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .