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.
2.3% (2017 est.)
2.6% (2016 est.)
2.4% (2015 est.)
0% (2019 est.)
1% (2018 est.)
1% (2017 est.)
Fitch rating: B- (2017)
Moody's rating: B3 (2018)
Standard & Poors rating: B- (2018)
$56.636 billion (2019 est.)
$55.318 billion (2018 est.)
$54.005 billion (2017 est.)
note: data are in 2017 dollars
$27.023 billion (2019 est.)
$8,776 (2019 est.)
$8,616 (2018 est.)
$8,454 (2017 est.)
note: data are in 2017 dollars
17% of GDP (2019 est.)
15.6% of GDP (2018 est.)
15% of GDP (2017 est.)
agriculture: 12% (2017 est.)
industry: 27.7% (2017 est.)
services: 60.3% (2017 est.)
household consumption: 84.5% (2017 est.)
government consumption: 15.8% (2017 est.)
investment in fixed capital: 16.9% (2017 est.)
investment in inventories: 0% (2017 est.)
exports of goods and services: 27.6% (2017 est.)
imports of goods and services: -44.9% (2017 est.)
Overall score: 65.3 (2020)
Starting a Business score: 78.6 (2020)
Trading score: 89.8 (2020)
Enforcement score: 51.9 (2020)
sugar cane, maize, milk, poultry, sorghum, beans, coconuts, eggs, apples, oranges
food processing, beverages, petroleum, chemicals, fertilizer, textiles, furniture, light metals
3.6% (2017 est.)
2.908 million (2019 est.)
agriculture: 21%
industry: 20%
services: 58% (2011 est.)
7% (2017 est.)
6.9% (2016 est.)
note: data are official rates; but underemployment is high
22.8% (2019 est.)
38.6 (2018 est.)
38 (2014)
lowest 10%: 2.2%
highest 10%: 32.3% (2014 est.)
revenues: 5.886 billion (2017 est.)
expenditures: 6.517 billion (2017 est.)
23.7% (of GDP) (2017 est.)
-2.5% (of GDP) (2017 est.)
67.9% of GDP (2017 est.)
66.4% of GDP (2016 est.)
note: El Salvador's total public debt includes non-financial public sector debt, financial public sector debt, and central bank debt
calendar year
-$501 million (2017 est.)
-$500 million (2016 est.)
$4.662 billion (2017 est.)
$5.42 billion (2016 est.)
United States 40%, Guatemala 15%, Honduras 15%, Nicaragua 6% (2019)
textiles and apparel, electrical capacitors, plastic lids, raw sugar, toilet paper (2019)
$9.499 billion (2017 est.)
$8.954 billion (2016 est.)
United States 30%, China 14%, Guatemala 13%, Mexico 8%, Honduras 6% (2019)
refined petroleum, packaged medicines, clothing, broadcasting equipment, natural gas (2019)
$3.567 billion (31 December 2017 est.)
$3.238 billion (31 December 2016 est.)
$17.24 billion (2019 est.)
$16.712 billion (2018 est.)
note: the US dollar is used as a medium of exchange and circulates freely in the economy
1 (2017 est.)
NOTE: The information regarding El Salvador on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of El Salvador 2021 information contained here. All suggestions for corrections of any errors about El Salvador 2021 should be addressed to the CIA or the source cited on each page.
This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.