The economy of El Salvador advanced 2.7% year-on-year in the third quarter of 2019, following a 1.9% expansion in the prior period. It is the fastest growth in five quarters, nudged mainly by agriculture (2.2% vs 1.9% in Q2), mining (6.8% vs 4.3%), utilities (11.8% vs 5.6%), construction (12.5% vs 6.6%), commercial services (2.0% vs 1.8%), transport (2.2% vs 1.0%), and health services (2.4% vs 1.6%). In contrast, manufacturing (1.2% vs 1.7%) and information & communication services (0.5% vs 1.1%) lost steam. On a seasonally adjusted quarter basis, the GDP went up 1.1%, after a 0.2% rise in Q2.

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.

GDP Annual Growth Rate in El Salvador is expected to be 2.40 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 2.10 in 12 months time. In the long-term, the El Salvador GDP Annual Growth Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.


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El Salvador GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.70 1.80 8.10 -2.60 1991 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-03-29 05:00 PM Q4 2.2% 2.2% 2.9%
2019-06-28 10:55 PM Q1 2.3% 2.2% 2.4%
2019-09-30 10:00 PM Q2 1.8% 2.5% 1.7%
2019-12-23 11:30 PM Q3 2.7% 1.9% 2.9%
2020-03-31 05:00 PM Q4 2.7% 2.3%


News Stream
2019-09-30
El Salvador Annual GDP Growth Slowest since 2017
The economy of El Salvador advanced 1.8% year-on-year in the second quarter of 2019, following an upwardly revised 2.5% expansion in the prior period. It is the weakest growth since Q2 2017, amid slower rises in manufacturing (0.7% vs 1.1% in Q1); electricity supply (3.9% vs 10.8%); construction (8.2% vs 9.3%); wholesale & retail trade (2% vs 2.1%) and transport & storage (1.5% vs 1.6%). In addition, output shrank in professional, scientific and technical activities (-12.2% vs 4.6%); health & social assistance (-1.1% vs 4.2%) and public administration (-1.4% vs 2.2%). In contrast, the best performing sectors were finance & insurance (4.5%, the same pace as in Q1); food & accommodation services (5.5% vs 2.6%); mining (3.9% vs 2.2%); water supply (4.5% vs -1.8%); real estate activities (3.4% vs 2.7%); administrative services (3.7% vs 3.4%) and agriculture (1.4% vs -0.4%). On a seasonally adjusted quarter basis, the GDP went up 0.3%, after an upwardly revised 0.2% rise in Q1.

2019-06-28
El Salvador Economy Expands 2.3% YoY in Q1
The economy of El Salvador advanced 2.3 percent year-on-year in the first quarter of 2019, following a 2.2 percent expansion in the previous period. Public spending grew 2.5 percent, after shrinking 0.5 percent in the last quarter of 2018; and both household consumption (4.7 percent from 1.8 percent in Q4) and gross fixed capital formation expanded further (9.7 percent from 1.2 percent). Exports rose 5.5 percent (vs 2.2 percent in Q4) and imports advanced at a faster 7.3 percent (vs 2.6 percent in Q4).

2019-03-29
El Salvador GDP Growth Steady at 2.2%
The economy of El Salvador expanded 2.2 percent year-on-year in the last three months of 2018, the same as in the previous period, mainly due to a rebound in exports (2.2 percent compared to -0.8 percent in Q3) and a slowdown in imports (2.6 percent compared to 8.9 percent). On the other hand, softer increases were seen for private spending (1.8 percent compared to 4.9 percent) and gross fixed capital formation (1.2 percent compared to 12.5 percent) while public expenditure contracted (-0.5 percent compared to 1.5 percent). On a quarterly basis, the economy advanced 1.1 percent, higher than 0.6 percent in Q3. Considering full 2018, the economy expanded 2.5 percent, above 2.3 percent in 2017.


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.

El Salvador GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.10 0.20 3.60 -3.50 percent [+]
GDP Annual Growth Rate 2.70 1.80 8.10 -2.60 percent [+]
GDP 26.06 24.93 26.06 0.63 USD Billion [+]
GDP Constant Prices 6665.20 6712.30 6903.90 1069.80 USD Million [+]
Gross Fixed Capital Formation 4288.00 3879.60 4288.00 2394.70 USD Million [+]
GDP per capita 3511.36 3441.95 3511.36 1678.90 USD [+]
GDP per capita PPP 7392.90 7246.76 7392.90 4511.99 USD [+]
GDP From Agriculture 336.92 377.16 457.35 168.90 USD Million [+]
GDP From Construction 361.71 374.83 374.83 36.40 USD Million [+]
GDP From Manufacturing 1027.74 1058.03 1119.66 586.72 USD Million [+]
GDP From Mining 15.69 21.23 26.52 6.16 USD Million [+]
GDP From Public Administration 499.62 496.40 573.42 86.30 USD Million [+]
GDP From Services 760.18 806.64 833.88 394.95 USD Million [+]
GDP From Transport 330.30 350.99 377.00 84.10 USD Million [+]
GDP From Utilities 209.30 197.28 222.47 8.90 USD Million [+]