Ecuador’s state revenues rise 16% on taxes, oil and mining

Ecuador collected $18.739 billion in General State Budget revenues between January and August 2026, an increase of 16% from the same period last year. The state received $2.992 billion more than during the first eight months of 2025.

Taxes remained the main source of income, generating $13.135 billion, or nearly 70% of the total. Tax collection increased 11% year on year. Electronic invoices reported to the Internal Revenue Service recorded $25.725 billion in transactions in August alone, up 19.1% from the same month of 2025.

President Daniel Noboa called it “the best August in the country’s history” during a radio interview on Sept. 4, referring to tax performance. The figures point to stronger activity in the formal economy, although higher sales do not necessarily translate into an equivalent improvement in every household’s income or purchasing power.

Mining and quarrying posted the largest year-on-year increase in August sales, at 96.9%, according to the tax service. Transport and storage rose 26.9%, commerce increased 24%, electricity supply climbed 20.8% and tourism grew 18.3%. Professional activities rose 14.3%, while real estate activity increased 13.5%.

Oil provided another major boost. Oil revenues rose from $801 million in the first eight months of 2025 to $1.434 billion in the same period of 2026, an increase of $633 million. Mining also contributed to the broader rise in state income. Ecuador’s exports grew 5.2% between January and May, while oil exports increased 16.4%, helped by a higher average crude price.

The stronger revenue performance supports public services, transfers and state obligations. However, the additional income is not automatically available for new programs, as the government must also cover commitments already made and its financing needs.

“

The best August in the country’s history.