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. source: Central Reserve Bank of El Salvador
GDP Annual Growth Rate in El Salvador averaged 2.71 percent from 1991 until 2020, reaching an all time high of 8.10 percent in the second quarter of 1995 and a record low of -20 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 May of 2021.
GDP Annual Growth Rate in El Salvador is expected to be 14.00 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 2.70 in 12 months time. 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.