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    El Salvador Economy - 1990

      Overview: The economy experienced a modest recovery during the period 1983-86, after a sharp decline in the early 1980s. Real GDP grew by 1.5% a year on the strength of value added by the manufacturing and service sectors. In 1987 the economy expanded by 2.5% as agricultural output recovered from the 1986 drought. The agricultural sector accounts for 25% of GDP, employs about 40% of the labor force, and contributes about 66% to total exports. Coffee is the major commercial crop, contributing 60% to export earnings. The manufacturing sector, based largely on food and beverage processing, accounts for 17% of GDP and 16% of employment. Economic losses due to guerrilla sabotage total more than $2.0 billion since 1979. The costs of maintaining a large military seriously constrain the government's ability to provide essential social services.

      GDP: $5.5 billion, per capita $1,020 (1988); real growth rate 0.9% (1989 est.)

      Inflation rate (consumer prices): 16.8% (September 1989)

      Unemployment rate: 10% (1989)

      Budget: revenues $688 million; expenditures $725 million, including capital expenditures of $112 million (1988)

      Exports: $497 million (f.o.b., 1989); commodities--coffee 60%, sugar, cotton, shrimp; partners--US 49%, FRG 24%, Guatemala 7%, Costa Rica 4%, Japan 4%

      Imports: $1.1 billion (c.i.f., 1989); commodities--petroleum products, consumer goods, foodstuffs, machinery, construction materials, fertilizer; partners--US 40%, Guatemala 12%, Venezuela 7%, Mexico 7%, FRG 5%, Japan 4%

      External debt: $1.7 billion (December 1989)

      Industrial production: growth rate 2.9% (1989)

      Electricity: 669,000 kW capacity; 1,813 million kWh produced, 350 kWh per capita (1989)

      Industries: food processing, textiles, clothing, petroleum products, cement

      Agriculture: accounts for 25% of GDP and 40% of labor force (including fishing and forestry); coffee most important commercial crop; other products--sugarcane, corn, rice, beans, oilseeds, beef, dairy products, shrimp; not self-sufficient in food

      Aid: US commitments, including Ex-Im (FY70-88), $2.4 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $353 million

      Currency: Salvadoran colon (plural--colones); 1 Salvadoran colon (C) = 100 centavos

      Exchange rates: Salvadoran colones (C) per US$1--5.0000 (fixed rate since 1986)

      Fiscal year: calendar year

      NOTE: The information regarding El Salvador on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of El Salvador Economy 1990 information contained here. All suggestions for corrections of any errors about El Salvador Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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