The economy of El Salvador shrank 10.2 percent year-on-year in the third quarter of 2020, after a record 20 percent contraction in the previous period. Private consumption contracted at a much softer pace (-9.6 percent vs -20.8 percent in Q2) while government spending increased less (4.5 percent vs 11.4 percent). On the production front, improvements were seen wholesale and retail trade (-6.3 percent vs 26.4 percent) and construction (-19.4 percent vs 37.3 percent). On a quarterly basis, the GDP rebounded 12.0 percent, from an 18.4 percent drop in the prior period. source: Central Reserve Bank of El Salvador
GDP Annual Growth Rate in El Salvador averaged 2.75 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 March of 2021.
GDP Annual Growth Rate in El Salvador is expected to be 1.50 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 5.00 in 12 months time. In the long-term, the El Salvador GDP Annual Growth Rate is projected to trend around 2.30 percent in 2022, according to our econometric models.