Current Account in El Salvador
El Salvador - Current AccountThe economy should have lost some steam in the opening quarter of the year. However, activity gathered pace in the tail end of the period. GDP expanded at a four-month quick pace in March on the back of firm expansions in the construction, real estate and financial services sectors. Less positively, activity in the industrial sector contracted year on year. Furthermore, household spending was likely hampered by a notable pickup in inflation amid pricier commodities due to the war in Ukraine. Softening domestic demand is further hinted at by moderating merchandise import growth in the quarter. Turning to the second quarter, domestic demand is expected to have cooled further. Despite easing slightly in April, inflation remained elevated and will have weighed on private consumption. Furthermore, rising core inflation points to more persistent price pressures.
El Salvador - Current Account Data
|Current Account (% of GDP)||-3.2||-2.3||-1.9||-4.7||-2.1|
5 years of economic forecasts for more than 30 economic indicators.
El Salvador Current Account Chart
Source: Central Bank of El Salvador and FocusEconomics calculations.
El Salvador Facts
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