The economy of El Salvador expanded 3.3% in the first quarter of 2021, rebounding from a 2.1% contraction in the previous period, as the economy benefited from a gradually receding pandemic and an improving global economic context. From the spending perspective, there was a solid recovery in household consumption (2.6% vs -4.2% in 4Q 2020), while the pace of growth slowed in government spending (4.8% vs 8.5%) and fixed investment (11.2% vs 15.4%). In contrast, exports fell marginally (-0.7% vs -5.8%) while import growth rose markedly (9.2% vs 1.4%). On the production side, the contraction in output of food & accommodation services slowed abruptly (-0.7% vs -16.9% in 4Q 2020), while there were solid recovery levels in wholesale & retail trade (3.1% vs 0.8%) and in manufacturing (2.5% vs -2.7%). On a seasonally adjusted quarterly basis, GDP advanced 3.7%, slowing from a revised 9.0% jump in the fourth quarter of 2020. source: Central Reserve Bank of El Salvador
GDP Annual Growth Rate in El Salvador averaged 2.73 percent from 1991 until 2021, reaching an all time high of 8.10 percent in the second quarter of 1995 and a record low of -19.80 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 August of 2021.
GDP Annual Growth Rate in El Salvador is expected to be 8.00 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 1.50 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.