El Salvador Economy: from the All Country Info reference guide to country facts

El Salvador Economy

El Salvador Economy: A summary of information about El Salvador Economy, from government research data as well as independent research and other sources.

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El Salvador: Economy

Economy - overview
El Salvador is a poor Central American economy
which has been suffering from a weak tax collection system, factory
closings, the aftermath of Hurricane Mitch, and weak world coffee
prices. On the bright side, in recent years inflation has fallen to
single digit levels, and total exports have grown substantially. The
substantial trade deficit has been offset by remittances from the
large number of Salvadorans living abroad and from external aid.
GDP
purchasing power parity - $18.1 billion (1999 est.)
GDP - real growth rate
2.2% (1999 est.)
GDP - per capita
purchasing power parity - $3,100 (1999 est.)
GDP - composition by sector
agriculture: 12%
industry: 22%
services: 66% (1999 est.)
Population below poverty line
48% (1999 est.)
Household income or consumption by percentage share
lowest 10%: 1.2%
highest 10%: 38.3% (1995)
Inflation rate (consumer prices)
1.3% (1999 est.)
Labor force
2.35 million (1999)
Labor force - by occupation
agriculture 30%, industry 15%, services
55% (1999 est.)
Unemployment rate
7.7% (1997 est.)
Budget
revenues: $1.5 billion
expenditures: $1.73 billion, including capital expenditures of $NA
(1999)
Industries
food processing, beverages, petroleum, chemicals,
fertilizer, textiles, furniture, light metals
Industrial production growth rate
3.5% (1999 est.)
Electricity - production
4.1 billion kWh (1999 est.)
Electricity - production by source
fossil fuel: 49.32%
hydro: 36.46%
nuclear: 0%
other: 14.22% (1998)
Electricity - consumption
4.17 billion kWh (1999)
Electricity - exports
30 million kWh (1999)
Electricity - imports
65 million kWh (1999)
Agriculture - products
coffee, sugarcane, corn, rice, beans, oilseed,
cotton, sorghum; beef, dairy products; shrimp
Exports
$2.5 billion (f.o.b., 1999)
Exports - commodities
offshore assembly exports, coffee, sugar,
shrimp, textiles, chemicals, electricity
Exports - partners
US 59%, Guatemala 12%, Germany 6%, Costa Rica 4%,
Honduras (1998)
Imports
$4.15 billion (c.i.f., 1999)
Imports - commodities
raw materials, consumer goods, capital goods,
fuels, foodstuffs, petroleum, electricity
Imports - partners
US 51%, Guatemala 9%, Mexico 6%, Japan 3%, Costa
Rica (1999)
Debt - external
$3.3 billion (1999 est.)
Economic aid - recipient
total $252 million; $57 million from US
(1999 est.)
Currency
1 Salvadoran colon (C) = 100 centavos
Exchange rates
Salvadoran colones (C) per US$1 (end of period) -
8.755 fixed rate since 1993
Fiscal year
calendar year
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