The economy of El Salvador expanded by 2.1 percent in the third quarter of 2022, the least since the fourth quarter of 2020 and easing from the downwardly revised 2.4 percent growth in the previous period. Contractions were noted for government expenditure (-1.8 percent vs -7.7 percent in Q2), while slower growth took place in household consumption (1.9 percent vs 2.6 percent). In the meantime, a faster increase in gross fixed capital formation (10.4 percent vs 6.9 percent) limited the slowdown in El Salvador’s GDP. Also, net foreign demand contributed positively to the GDP as exports (12.7 percent) grew faster than imports (2.5 percent). On a quarterly basis, the economy grew by 0.5 percent after contracting 0.5 percent in the prior quarter. 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 March of 2023.

GDP Annual Growth Rate in El Salvador is expected to be 2.60 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 2.80 percent in 2023 and 4.00 percent in 2024, according to our econometric models.

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El Salvador GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-05 12:45 PM Q2 2.6% 3.1% 8%
2022-12-23 07:00 PM Q3 2.1% 2.4% 2%
2023-03-31 06:00 PM Q4 2.1% 2.6%


Related Last Previous Unit Reference
GDP Growth Rate 0.50 -0.50 percent Sep 2022
GDP Annual Growth Rate 2.10 2.40 percent Sep 2022
GDP Constant Prices 7887.10 7875.20 USD Million Sep 2022
Gross Fixed Capital Formation 6030.06 4364.71 USD Million Dec 2021
GDP from Utilities 273.60 289.04 USD Million Sep 2022
GDP from Transport 345.38 361.96 USD Million Sep 2022
GDP from Services 865.79 906.45 USD Million Sep 2022
GDP from Public Administration 679.73 615.65 USD Million Sep 2022
GDP from Mining 17.69 19.23 USD Million Sep 2022
GDP from Manufacturing 1175.69 1170.98 USD Million Sep 2022
GDP from Construction 447.78 439.75 USD Million Sep 2022
GDP from Agriculture 392.26 426.23 USD Million Sep 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
2.10 2.40 26.46 -19.76 1991 - 2022 percent Quarterly

News Stream
El Salvador GDP Grows by 2.1% in Q3
The economy of El Salvador expanded by 2.1 percent in the third quarter of 2022, the least since the fourth quarter of 2020 and easing from the downwardly revised 2.4 percent growth in the previous period. Contractions were noted for government expenditure (-1.8 percent vs -7.7 percent in Q2), while slower growth took place in household consumption (1.9 percent vs 2.6 percent). In the meantime, a faster increase in gross fixed capital formation (10.4 percent vs 6.9 percent) limited the slowdown in El Salvador’s GDP. Also, net foreign demand contributed positively to the GDP as exports (12.7 percent) grew faster than imports (2.5 percent). On a quarterly basis, the economy grew by 0.5 percent after contracting 0.5 percent in the prior quarter.
2022-12-23
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