The Gross Domestic Product (GDP) in El Salvador expanded 24.10 percent in the second quarter of 2021 over the same quarter of the previous year. source: Central Reserve Bank of El Salvador

GDP Annual Growth Rate in El Salvador averaged 2.90 percent from 1991 until 2021, reaching an all time high of 24.10 percent in the second quarter of 2021 and a record low of -19.80 percent in the second quarter of 2020. This page provides the latest reported value for - El Salvador GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. El Salvador GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

GDP Annual Growth Rate in El Salvador is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the El Salvador GDP Annual Growth Rate is projected to trend around 2.80 percent in 2022 and 2.40 percent in 2023, according to our econometric models.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
El Salvador GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-07-01 02:00 PM Q1 3.3% -2.1% -1%
2021-10-05 01:10 PM Q2 24.1% 2.8% 11%
2021-12-21 10:00 PM Q3 24.1% 8%

News Stream
El Salvador Economy Recovers in Q1
The economy of El Salvador expanded 3.3% in the first quarter of 2021, rebounding from a 2.1% contraction in the previous period, as the economy benefited from a gradually receding pandemic and an improving global economic context. From the spending perspective, there was a solid recovery in household consumption (2.6% vs -4.2% in 4Q 2020), while the pace of growth slowed in government spending (4.8% vs 8.5%) and fixed investment (11.2% vs 15.4%). In contrast, exports fell marginally (-0.7% vs -5.8%) while import growth rose markedly (9.2% vs 1.4%). On the production side, the contraction in output of food & accommodation services slowed abruptly (-0.7% vs -16.9% in 4Q 2020), while there were solid recovery levels in wholesale & retail trade (3.1% vs 0.8%) and in manufacturing (2.5% vs -2.7%). On a seasonally adjusted quarterly basis, GDP advanced 3.7%, slowing from a revised 9.0% jump in the fourth quarter of 2020.
El Salvador GDP Contraction Softens Sharply in Q4
The economy of El Salvador shrank 2.1% in the fourth quarter of 2020, following a downwardly revised 10% contraction in the previous period, as the economy gradually recovers from the pandemic crisis. Household consumption contracted at a slower pace (-4.2% vs -11.8% in Q3) while government spending increased further (8.5% vs 4.5%). In addition, fixed investment rebounded strongly (15.4% vs -15.3%). Also, exports fell less (-5.8% vs -23.2%) while imports rose slightly (1.4% vs -12.8%). On the production front, output shrank much less in manufacturing (-2.7% vs -9.8% in Q3); construction (-8.5% vs -18.2%); transport & storage (-9.2% vs -21.6%); restaurants & hotels ( -17.6% vs -37.1%) and real estate activities (-1.8% vs -9.3%). On a seasonally adjusted quarterly basis, the GDP declined 2.3%, after a 9.9% slump in the previous quarter.
El Salvador Economy Shrinks at a Softer Pace in Q3
The economy of El Salvador shrank 10.2 percent year-on-year in the third quarter of 2020, after a record 20 percent contraction in the previous period. Private consumption contracted at a much softer pace (-9.6 percent vs -20.8 percent in Q2) while government spending increased less (4.5 percent vs 11.4 percent). On the production front, improvements were seen wholesale and retail trade (-6.3 percent vs 26.4 percent) and construction (-19.4 percent vs 37.3 percent). On a quarterly basis, the GDP rebounded 12.0 percent, from an 18.4 percent drop in the prior period.

El Salvador Last Unit Reference Previous Highest Lowest
GDP Growth Rate -2.30 percent Jun/21 3.60 12.90 -19.40
GDP Annual Growth Rate 24.10 percent Jun/21 2.80 24.10 -19.80
GDP Constant Prices 7059.80 USD Million Jun/21 6759.60 7076.50 1069.80
Gross Fixed Capital Formation 4411.86 USD Million Dec/20 4539.88 4780.43 2473.80
GDP From Utilities 184.96 USD Million Jun/21 159.77 222.47 8.90
GDP From Transport 344.28 USD Million Jun/21 261.30 377.00 84.10
GDP From Services 789.71 USD Million Jun/21 755.17 849.07 394.95
GDP From Public Administration 562.92 USD Million Jun/21 487.53 622.11 86.30
GDP From Mining 21.78 USD Million Jun/21 30.39 30.39 6.16
GDP From Manufacturing 1044.69 USD Million Jun/21 1119.59 1119.59 586.72
GDP From Construction 348.33 USD Million Jun/21 363.23 426.11 36.40
GDP From Agriculture 393.07 USD Million Jun/21 252.85 457.35 168.89

El Salvador GDP Annual Growth Rate
The most important sector of El Salvador economy is services which accounts for 66 percent of total GDP, including internal trade (14 percent); real estate activities (8 percent); public administration (8 percent); finance and insurance (7 percent) and education (5 percent). Industry constitutes 27 percent of total wealth, with the largest shares for manufacturing (18 percent), construction (6 percent) and utilities (3 percent). Also, agriculture, livestock, forestry and fishing sector accounts for 6 percent of GDP. On the expenditure side, household consumption is the main component of GDP (85 percent), followed by gross fixed capital formation and government spending (16 percent each). Exports of goods and services represent 28 percent of GDP while imports account for 45 percent, subtracting 17 percent of total GDP.