The economy of El Salvador grew 1 percent year-on-year in the first quarter of 2020, easing from a 2.8 percent expansion in the previous period. It was the weakest growth rate since the first quarter of 2016, amid a slowdown in construction (4.9 percent vs 13.1 percent in Q4 2019); wholesale & retail trade (2 percent vs 2.6 percent); real estate (1.1 percent vs 2.8 percent); and education (0.2 percent vs 0.3 percent). Also, output shrank in manufacturing (-2.6 percent vs 2.3 percent); hotels & restaurants (-6.1 percent vs 3.6 percent); transport (-2.7 percent vs 5.8 percent); professional services (-9.1 percent vs 4.5 percent); recreation activities (-7.3 percent vs 2.3 percent); agriculture, forestry & fishing (-1.8 percent vs 3.9 percent); mining & quarrying (-2.3 percent vs 3.9 percent); and utilities (-0.5 percent v 7.5 percent). On a quarterly basis, the GDP contracted 0.8 percent, after expanding a downwardly revised 0.5 percent.
GDP Annual Growth Rate in El Salvador averaged 3.09 percent from 1991 until 2019, reaching an all time high of 8.10 percent in the second quarter of 1995 and a record low of -2.60 percent in the third quarter of 2009. 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 September of 2020.
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. Looking forward, we estimate GDP Annual Growth Rate in El Salvador to stand at 1.10 in 12 months time. In the long-term, the El Salvador GDP Annual Growth Rate is projected to trend around 2.50 percent in 2021 and 2.30 percent in 2022, according to our econometric models.