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El Salvador Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











El Salvador Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 22, 2014

Economy - overview:
The smallest country in Central America geographically, El Salvador has the fourth largest economy in the region. With the global recession, real GDP contracted in 2009 and economic growth has since remained low, averaging less than 2% from 2010 to 2013. Remittances accounted for 16% of GDP in 2013 and were received by about a third of all households. In 2006, El Salvador was the first country to ratify the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR), which has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the apparel sector amid increased Asian competition. The Salvadoran Government maintained fiscal discipline during post-war reconstruction and reconstruction following earthquakes in 2001 and hurricanes in 1998 and 2005, but El Salvador's external debt has been growing over the last several years, amounting to some 57% of GDP in 2013. In September 2013, El Salvador was awarded a $277 million second compact with the Millennium Challenge Corporation (MCC) - a United States Government agency aimed at stimulating economic growth and reducing poverty - to improve El Salvador's competitiveness and productivity in international markets.

GDP (purchasing power parity):
$47.47 billion (2013 est.)
country comparison to the world: 99

$46.72 billion (2012 est.)
$45.84 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$24.67 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.6% (2013 est.)
country comparison to the world: 158

1.9% (2012 est.)
2.2% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$7,500 (2013 est.)
country comparison to the world: 137

$7,400 (2012 est.)
$7,300 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
9% of GDP (2013 est.)
country comparison to the world: 141

8.9% of GDP (2012 est.)
9.3% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 93.9%
government consumption: 11.1%
investment in fixed capital: 14.5%
investment in inventories: 0%
exports of goods and services: 29%
imports of goods and services: -48.5%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 10.3%
industry: 29.5%
services: 60.1% (2013 est.)

Agriculture - products:
coffee, sugar, corn, rice, beans, oilseed, cotton, sorghum; beef, dairy products

Industries:
food processing, beverages, petroleum, chemicals, fertilizer, textiles, furniture, light metals

Industrial production growth rate:
2.1% (2013 est.)
country comparison to the world: 123
[see also: Industrial production growth rate country ranks ]

Labor force:
2.738 million (2013 est.)
country comparison to the world: 107
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 21%
industry: 20%
services: 58% (2011 est.)

Unemployment rate:
6.3% (2013 est.)
country comparison to the world: 64

6.1% (2012 est.)
note: data are official rates; but underemployment is high
[see also: Unemployment rate country ranks ]

Population below poverty line:
36.5% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1%
highest 10%: 37% (2009 est.)

Distribution of family income - Gini index:
46.9 (2007)
country comparison to the world: 30

52.5 (2001)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $4.683 billion
expenditures: $5.666 billion (2013 est.)

Taxes and other revenues:
19% of GDP (2013 est.)
country comparison to the world: 171
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4% of GDP (2013 est.)
country comparison to the world: 147
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
62% of GDP (2013 est.)
country comparison to the world: 46

59.2% of GDP (2012 est.)
note: El Salvador's total public debt includes non-financial public sector debt, financial public sector debt, and central bank debt
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.9% (2013 est.)
country comparison to the world: 20

1.8% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
$NA (31 December 2013 est.)
country comparison to the world: 140

5.6% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.914 billion (31 December 2013 est.)
country comparison to the world: 115

$2.796 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$10.12 billion (31 December 2013 est.)
country comparison to the world: 105

$9.847 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$11.16 billion (31 December 2013 est.)
country comparison to the world: 94

$10.51 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$10.74 billion (31 December 2012 est.)
country comparison to the world: 77

$5.474 billion (31 December 2011)
$NA (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.331 billion (2013 est.)
country comparison to the world: 128

-$1.257 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$5.112 billion (2013 est.)
country comparison to the world: 115

$5.447 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
offshore assembly exports, coffee, sugar, textiles and apparel, gold, ethanol, chemicals, electricity, iron and steel manufactures

Exports - partners:
US 47.3%, Guatemala 13.8%, Honduras 9.6%, Nicaragua 5.4% (2012)

Imports:
$10.03 billion (2013 est.)
country comparison to the world: 102

$9.912 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
raw materials, consumer goods, capital goods, fuels, foodstuffs, petroleum, electricity

Imports - partners:
US 35.4%, Guatemala 12.7%, Mexico 7%, China 5.6%, Germany 4.2% (2012)

Reserves of foreign exchange and gold:
$2.855 billion (31 December 2013 est.)
country comparison to the world: 109

$3.176 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$14.44 billion (31 December 2013 est.)
country comparison to the world: 91

$13.56 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$8.879 billion (31 December 2013 est.)
country comparison to the world: 86

$8.635 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$5.7 million (31 December 2013 est.)
country comparison to the world: 92

$5.7 million (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:

note: the US dollar is used as a medium of exchange and circulates freely in the economy, 1 (2013 est.)

1 (2012 est.)


NOTE: 1) The information regarding El Salvador on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of El Salvador Economy 2015 information contained here. All suggestions for corrections of any errors about El Salvador Economy 2015 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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