The economy of El Salvador shrank 19.4 percent year-on-year in the second quarter of 2020, after growing 1 percent in the previous period. It was the sharpest contraction on record as the coronavirus pandemic hit the economy. Output shrank in wholesale & retail trade (-32.6% vs 1.7% in Q1); construction (-38.7% vs 5%); real estate (-5.9% vs 1.4%); education (-15.3% vs 0.2%); public administration & defense (-2.2% vs 1.8%); health (-2.3% vs 2.4%); and information & communications (-2.4% vs 0.1%). In addition, output contract further mainly in manufacturing (-34.3% vs -2.7%); hotels & restaurants (-50.5% vs -6.1%); transport (-26.3% vs -2.9%); professional services (-32.5% vs -9.1%); recreation activities (-54.4% vs -7.3%); agriculture, forestry & fishing (-3.6% vs -1.8%); and mining & quarrying (-28.9% vs -2.3%). On a quarterly basis, the GDP slumped 19 percent, following an upwardly revised 1 percent drop in the prior month. source: Central Reserve Bank of El Salvador

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 November 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 14.00 in 12 months time. In the long-term, the El Salvador GDP Annual Growth Rate is projected to trend around 5.00 percent in 2021 and 2.30 percent in 2022, according to our econometric models.

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El Salvador GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-19.40 1.00 8.10 -19.40 1991 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-12-23 11:30 PM Q3 2.7% 1.9% 2.9%
2020-03-31 11:45 PM Q4 3% 3% 1.9%
2020-07-01 02:00 PM Q1 1% 2.8% 0.4%
2020-10-05 02:30 PM Q2 -19.4% 1% -16%
2020-12-21 10:00 PM Q3 -19.4% -9%
2021-03-31 11:45 PM Q4
2021-07-01 02:00 PM Q1
2021-10-05 02:30 PM Q2


News Stream
El Salvador Economy Shrinks the Most on Record
The economy of El Salvador shrank 19.4 percent year-on-year in the second quarter of 2020, after growing 1 percent in the previous period. It was the sharpest contraction on record as the coronavirus pandemic hit the economy. Output shrank in wholesale & retail trade (-32.6% vs 1.7% in Q1); construction (-38.7% vs 5%); real estate (-5.9% vs 1.4%); education (-15.3% vs 0.2%); public administration & defense (-2.2% vs 1.8%); health (-2.3% vs 2.4%); and information & communications (-2.4% vs 0.1%). In addition, output contract further mainly in manufacturing (-34.3% vs -2.7%); hotels & restaurants (-50.5% vs -6.1%); transport (-26.3% vs -2.9%); professional services (-32.5% vs -9.1%); recreation activities (-54.4% vs -7.3%); agriculture, forestry & fishing (-3.6% vs -1.8%); and mining & quarrying (-28.9% vs -2.3%). On a quarterly basis, the GDP slumped 19 percent, following an upwardly revised 1 percent drop in the prior month.
2020-10-05
El Salvador GDP Growth Weakest in 4 Years
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.
2020-07-01
El Salvador GDP Growth Slows in Q4
The economy of El Salvador advanced 2.8 percent year-on-year in the fourth quarter of 2019, after a downwardly revised 2.9 percent expansion in Q3. A slowdown was seen in real estate (2.8 percent vs 2.9 percent in Q3); utilities (7.5 percent vs 11.1 percent); agriculture, forestry & fishing (3.9 percent vs 6 percent); mining & quarrying (3.9 percent vs 10.4 percent); hotels & restaurants (3.6 percent vs 3.9 percent); education (0.3 percent vs 0.9 percent) and health (1.7 percent vs 3.6 percent). Also, information & communication shrank 0.9 percent (vs -0.5 percent in Q3); and public administration & defense contracted 1.3 percent (vs -0.6 percent in Q3). Meanwhile, output growth accelerated in manufacturing (2.3 percent vs 0.9 percent); construction (13.1 percent vs 11.8 percent); and transport (5.8 percent vs 4.1 percent). On a quarterly basis, the GDP rose 0.6 percent, after growing 1.4 percent in Q3. Considering full 2019, the economy grew 2.4 percent.
2020-03-31
El Salvador GDP Growth Accelerates
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 0.3% rise in Q2.
2019-12-24

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.