Budget: Income .............. $1.75 Billion
Expenditure ... $1.85 Billion
Main Crops: coffee, sugarcane, corn, rice, beans, oilseed, cotton, sorghum; beef, dairy products; shrimp.
Natural Resources: Hydropower, geothermal power, petroleum .
Major Industries: Food processing, beverages, petroleum, chemicals, fertilizer, textiles, furniture, light metals
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 2014, but recovered somewhat in 2015-17 with an average annual growth rate of 2.4%. Remittances accounted for approximately 18% of GDP in 2017 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, which has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the apparel sector amid increased Asian competition. In September 2015, El Salvador kicked off a five-year $277 million second compact with the Millennium Challenge Corporation - a US Government agency aimed at stimulating economic growth and reducing poverty - to improve El Salvador's competitiveness and productivity in international markets.
The Salvadoran Government maintained fiscal discipline during reconstruction and rebuilding following earthquakes in 2001 and hurricanes in 1998 and 2005, but El Salvador's public debt, estimated at 59.3% of GDP in 2017, has been growing over the last several years.
GNI, Atlas method (current US$) | $4,739,749,287.36 | $11,209,909,097.79 | $21,763,069,936.58 | $23,515,700,566.78 |
GNI per capita, Atlas method (current US$) | $900.00 | $1,900.00 | $3,440.00 | $3,630.00 |
GNI, PPP (current international $) | $15,014,246,663.97 | $25,735,921,534.95 | $45,817,642,299.87 | $51,685,461,123.20 |
GNI per capita, PPP (current international $) | $2,850.00 | $4,370.00 | $7,240.00 | $7,970.00 |
Income share held by lowest 20% | .. | 3.20 | 6.10 | .. |
GDP (current US$) | $4,817,542,204.03 | $11,784,927,700.00 | $23,438,240,000.00 | $24,638,720,000.00 |
GDP growth (annual %) | 4.832900578 | 1.127906977 | 2.398973133 | -8.581312158 |
Inflation, GDP deflator (annual %) | 5.105728337 | 3.27263167 | 1.308633787 | 0.203941699 |
Agriculture, forestry, and fishing, value added (% of GDP) | 16.01367717 | 7.172784777 | 5.52976674 | 5.112481493 |
Industry (including construction), value added (% of GDP) | 23.30754754 | 26.87772111 | 25.28892954 | 23.80894787 |
Exports of goods and services (% of GDP) | 18.49698742 | 26.82727023 | 29.48617302 | 25.53042528 |
Imports of goods and services (% of GDP) | 31.11864037 | 41.88281868 | 47.07409771 | 43.89655794 |
Gross capital formation (% of GDP) | 13.81290212 | 17.66906046 | 16.01698762 | 17.90620617 |
Revenue, excluding grants (% of GDP) | .. | 15.54197061 | 20.81504314 | .. |
Time required to start a business (days) | .. | .. | 16.5 | .. |
Domestic credit provided by financial sector (% of GDP) | .. | .. | 86.52987105 | 113.120646 |
Tax revenue (% of GDP) | .. | 10.6054957 | 16.75268491 | .. |
Military expenditure (% of GDP) | 3.413665987 | 0.840331038 | 1.056819966 | 1.502118139 |
Mobile cellular subscriptions (per 100 people) | 0 | 12.62968891 | 147.5723164 | .. |
High-technology exports (% of manufactured exports) | .. | .. | 4.97701384 | 6.380281341 |
Statistical Capacity Score (Overall Average) (scale 0 - 100) | .. | .. | 91.11113333 | 82.22223333 |
Merchandise trade (% of GDP) | 38.29753683 | 66.93295199 | 67.419738 | 62.385546 |
Net barter terms of trade index (2000 = 100) | 84.21052632 | 100 | 94.58358485 | .. |
External debt stocks, total (DOD, current US$) | 2232089055 | 4535064825 | 15570377313 | 18333708634 |
Total debt service (% of exports of goods, services and primary income) | 21.66367333 | 14.24738253 | 18.57977893 | 80.09933971 |
Net migration | .. | .. | .. | .. |
Personal remittances, received (current US$) | $366,278,900.10 | $1,764,200,000.00 | $4,274,620,676.03 | $5,936,157,615.33 |
Foreign direct investment, net inflows (BoP, current US$) | $1,898,272.09 | $173,400,000.00 | $494,541,718.09 | .. |
Net official development assistance and official aid received (current US$) | $328,480,010.99 | $192,440,002.44 | $89,699,996.95 | .. |