GDP in El Salvador
El Salvador - GDPEconomic growth accelerated to 24.5% year-on-year in the second quarter (Q1: +2.8% yoy), thanks to skyrocketing household consumption, fixed investment and exports. Private consumption benefited from strong growth in remittances in the quarter, while the steep rise in capital expenditure was likely influenced by improved demand and output expectations. Moreover, the sizable expansion in exports reflected a healthier external backdrop. Turning to the third quarter, momentum slowed at the outset of the period amid a less supportive base effect. The monthly economic activity index rose at a softer rate in July, and growth in remittances eased in July–August, likely tempering household spending. Meanwhile, the government tabled its draft 2022 budget on 30 September, which will see spending increase with a focus on public investment, education, and security and defense.
El Salvador - GDP Data
|Economic Growth (GDP, annual variation in %)||2.4||2.5||2.3||2.4||2.4|
5 years of economic forecasts for more than 30 economic indicators.
El Salvador GDP Chart
Source: Central Bank of El Salvador.
El Salvador Facts
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