Analysis of the Economic Growth of Ecuador and its relationship with the Primary, Secondary and Tertiary sectors of the Milagro Canton Análisis del crecimiento Económico del Ecuador y su relación con los sectores Primario, Secundario y Terciario del Cantón Milagro

Abstract

This study aims to analyze the relationship between Ecuador’s economic growth and the sectors of the San Francisco de Milagro canton from 2007 to 2020. Using data from the Central Bank of Ecuador, the analysis applies multiple linear regression and multivariate statistical techniques, particularly Principal Component Analysis (PCA), to identify significant variables affecting economic growth. The results reveal that the tertiary sector is the main contributor to Milagro’s economy, followed by the primary sector, while the secondary sector shows a negative relationship with national economic growth. These findings highlight the need to strengthen the secondary sector for sustainable economic development. This study serves as a foundation for future analyses, particularly in the post-pandemic context.