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.