The economy of El Salvador grew by 3.6 percent in the third quarter of 2023, the most since the first quarter of 2022. Trade grew for net foreign demand (3.6 vs -1.7 percent in Q2) and imports (1 percent vs -6.8 percent). From the spending perspective, the pace of growth accelerated for household consumption (2.9 percent vs 2.5 percent) and gross fixed capital formation (5.9 percent vs 5.5 percent), while growth slowed for government expenditure (2.4 percent vs 5.3 percent). On a quarterly basis, the economy grew by 0.66 percent compared to 1.2 percent in the prior quarter. source: Central Reserve Bank of El Salvador

The Gross Domestic Product (GDP) in El Salvador expanded 3.60 percent in the third quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in El Salvador averaged 2.96 percent from 1991 until 2023, 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 February of 2024.

The Gross Domestic Product (GDP) in El Salvador expanded 3.60 percent in the third quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in El Salvador is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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El Salvador GDP Annual Growth Rate


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-10-05 06:00 PM
GDP Growth Rate YoY
Q2 3% 0.8% 1.5%
2023-12-22 03:00 PM
GDP Growth Rate YoY
Q3 3.6% 3% 2.4%
2024-03-21 05:30 PM
GDP Growth Rate YoY
Q4 3.6% 3.8%


Related Last Previous Unit Reference
GDP Growth Rate 0.66 1.20 percent Sep 2023
GDP Annual Growth Rate 3.60 3.00 percent Sep 2023
GDP Constant Prices 8580.76 8607.77 USD Million Sep 2023
Gross Fixed Capital Formation 6510.58 5935.38 USD Million Dec 2022
GDP from Utilities 308.14 292.72 USD Million Sep 2023
GDP from Transport 349.03 368.05 USD Million Sep 2023
GDP from Services 881.40 931.98 USD Million Sep 2023
GDP from Public Administration 776.46 722.91 USD Million Sep 2023
GDP from Mining 16.14 24.50 USD Million Sep 2023
GDP from Manufacturing 1188.63 1210.53 USD Million Sep 2023
GDP from Construction 507.23 555.80 USD Million Sep 2023
GDP from Agriculture 433.44 467.59 USD Million Sep 2023

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
3.60 3.00 26.46 -19.76 1991 - 2023 percent Quarterly

News Stream
El Salvador GDP Growth Accelerates Further in Q3
The economy of El Salvador grew by 3.6 percent in the third quarter of 2023, the most since the first quarter of 2022. Trade grew for net foreign demand (3.6 vs -1.7 percent in Q2) and imports (1 percent vs -6.8 percent). From the spending perspective, the pace of growth accelerated for household consumption (2.9 percent vs 2.5 percent) and gross fixed capital formation (5.9 percent vs 5.5 percent), while growth slowed for government expenditure (2.4 percent vs 5.3 percent). On a quarterly basis, the economy grew by 0.66 percent compared to 1.2 percent in the prior quarter.
2023-12-22
El Salvador GDP Growth Accelerates in Q2
The economy of El Salvador grew by 3 percent in the second quarter of 2023, the most since the first quarter of 2022. From the spending perspective, the pace of growth accelerated for household consumption (1.4 percent vs 0.3 percent in Q1), while growth slowed for government expenditure (5.3 percent vs 6.1 percent) and gross fixed capital formation (4.2 percent vs 16.1 percent). Also, net foreign demand fell (-2.3 vs 0 percent) while imports fell at a faster rate (-7 percent vs -5.1 percent). On a quarterly basis, the economy grew by 1.2 percent compared to 0.7 percent in the prior quarter.
2023-10-05
El Salvador GDP Annual Growth Slows Further in Q1
The economy of El Salvador grew by 0.8 percent in the March quarter of 2023, the least since the fourth quarter of 2020 and easing from an upwardly revised 1.3 percent growth in the previous period. From the spending perspective, the pace of growth accelerated for government expenditure (6.1 percent vs 1.9 percent in Q4) and gross fixed capital formation (15.4 percent vs 3.4 percent), while Household consumption (0.2 percent vs 0.9 percent) growth slowed. Also, net foreign demand stalled (vs 6.8 percent) while imports fell at a slower rate (-5.5 percent vs -12 percent). On a quarterly basis, the economy grew by 0.7 percent compared to a downwardly revised 0.5 percent in the prior quarter.
2023-06-30