Current Account in El Salvador
El Salvador - Current AccountAfter the economy grew at a softer pace in the fourth quarter of 2021, it is expected to have cooled further in the first quarter of this year. Economic activity contracted year on year in January. Meanwhile, household spending was likely constrained by softer growth in remittances and rising inflation amid the fallout of the war in Ukraine. On the other hand, annual growth rebounded in February, as industrial production, and retail and wholesale trade, swung back into expansions. Additionally, the merchandise trade deficit narrowed slightly as imports lost considerable steam, hinting at a softer drag from the external sector. In other news, the country failed to issue a bitcoin-denominated bond worth USD 1 billion in mid-March. This, combined with stalled debt relief talks with the IMF, increased commodity prices and ballooning fiscal deficit, is increasing concerns over a default.
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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