Current Account in El Salvador
El Salvador - Current AccountAnnual economic growth ticked up in the second quarter according to monthly activity estimates, although GDP figures will not be released until 30 September. A surge in construction activity, continued strong growth in the financial services sector and a rebound in merchandise exports all supported Q2’s reading. However, agricultural activity decreased in Q2, partly due to recent dry weather. In addition, remittances growth slowed in Q2 despite a still-tight labor market in the United States, where most remittances originate from, which will have dampened private consumption somewhat. In politics, the Salvadoran and U.S. governments reached an agreement in August to increase cooperation on migration. This could reduce the number of Salvadorans gaining entry into the U.S., hitting future remittance growth.
El Salvador - Current Account Data
|Current Account (% of GDP)||-6.9||-5.4||-3.2||-2.1||-1.9|
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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