The GDP of El Salvador rose 2.7% in the first quarter of 2022, slowing from a 3.7% expansion in the previous period, benefitting from stronger demand conditions abroad. More specifically, exports of goods and services jumped 14.3% (vs 1.6% in Q4 2021), while imports went up 10.6% (vs 19.9%). Also, domestic demand was more robust on the back of private consumption (5.4% vs 8.0%) and a smaller contribution from public expenditure (2.5% vs 6.1%). Lastly, gross fixed capital formation fell for the first time since the third quarter of 2020 (-3.3% vs 6.6%). source: Central Reserve Bank of El Salvador

GDP Annual Growth Rate in El Salvador averaged 2.98 percent from 1991 until 2022, reaching an all time high of 26.46 percent in the second quarter of 2021 and a record low of -19.76 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 July of 2022.

GDP Annual Growth Rate in El Salvador is expected to be 8.30 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 2.40 percent in 2023, according to our econometric models.

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El Salvador GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-31 07:00 PM Q4 3.7% 11.6% 4%
2022-06-30 06:00 PM Q1 2.7% 3.7% 9%
2022-10-05 01:10 PM Q2 2.7% 8%


Related Last Previous Unit Reference
GDP Growth Rate 1.70 -0.06 percent Mar 2022
GDP Annual Growth Rate 2.70 3.70 percent Mar 2022
GDP Constant Prices 7536.20 7739.90 USD Million Mar 2022
Gross Fixed Capital Formation 6030.06 4364.71 USD Million Dec 2021
GDP From Utilities 234.16 199.39 USD Million Mar 2022
GDP From Transport 328.89 336.24 USD Million Mar 2022
GDP From Services 871.43 901.84 USD Million Mar 2022
GDP From Public Administration 535.61 700.56 USD Million Mar 2022
GDP From Mining 29.17 17.37 USD Million Mar 2022
GDP From Manufacturing 1245.79 1151.19 USD Million Mar 2022
GDP From Construction 394.75 400.81 USD Million Mar 2022
GDP From Agriculture 279.36 363.27 USD Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
2.70 3.70 26.46 -19.76 1991 - 2022 percent Quarterly

News Stream
El Salvador GDP Growth Eases in Q4
The economy of El Salvador expanded 3.7 percent in the fourth quarter of 2021, easing from a 11.6 percent jump in the previous period, as the effects of a lower base of comparison started to fade. It was the weakest growth rate since the first quarter of 2021 amid a slowdown in household consumption (7.8 percent vs 16.9 percent), government spending (6.1 percent vs 10.3 percent), and fixed investment (6.6 percent vs 20.3 percent). Also, net exports contributed negatively to the GDP as imports jumped 19.9 percent, while exports advanced at a slower 1.6 percent. Considering the full 2021, the economy grew 10.3 percent.
2022-03-31
El Salvador GDP Growth Eases In Q3
The economy of El Salvador expanded 11.7 percent in the third quarter of 2021, easing from an upwardly revised 25.3 percent jump in the previous period, as the effects of a lower base of comparison started to fade. From the spending perspective, output eased for household consumption (11.8 percent vs 38 percent) and fixed investment (23 percent vs 71.1 percent). Meanwhile, government spending expanded at a higher pace (11 percent vs 4 percent). On the other hand, net exports contributed negatively to the GDP as imports jumped 28.1 percent, while exports advanced at a slower 23 percent. On a seasonally adjusted quarterly basis, GDP advanced 0.5 percent, after an upwardly 0.9 percent contraction in the previous quarter.
2022-01-04
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.
2021-07-01