GFmag Online Readers Survey 2012
El Salvador


El Salvador Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in El Salvador; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Reserve Bank of El Salvador
International ReservesUS$ 2.880 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 23.169 billion (2010 estimate)
GDP (Purchasing Power Parity)45.145 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
2.2%1.7%2.3%2.3%1.9%3.3%4.2%4.3%
2008200920102011*
2.4%-3.5%0.7%2.5%

*Estimate

GDP per capita - current pricesUS$ 3,924 (2007 estimate)
GDP per capita - PPP$7,646 International Dollars (2007 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.09%0.06%0.07%0.06%0.06%

**Forecast

GDP - composition by sector
  • agriculture: 11.1% 
  • industry: 30.1% 
  • services: 58.7% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
7.3%(2008)0.4%1.2%3.5%

*Estimate

Unemployment rate
2008200920102011*
5.9%8.9%6.7%(2009)5.9%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
38.8%39.7%49%50.8%50.6%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-1.9%-2.6%-5.6%-4.9%-4.4%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB/Stable/B

Moody's rating: Ba1

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$6.743 billionUS$4.656 billionUS$4.432 billion
Largest companies in El SalvadorN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -0.9 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-3.8% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

22.5% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.03%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.03%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$4.377 billion f.o.b. (2010 estimate)
Export commoditiesoffshore assembly exports, coffee, sugar, textiles and apparel, gold, ethanol, chemicals
Total importsUS$9.75 billion (2008 estimate)
Import commoditiesraw materials, consumer goods, capital goods, fuels, foodstuffs, petroleum, electricity
Exports - major partnersUS 51%, Guatemala 13.6%, Honduras 11.2%, Nicaragua 5.5% (2007)
Imports - major partnersUS 35.7%, Mexico 9.8%, Guatemala 8.5%, China 4.7% (2007)
FDI inflows
200820092010
US$903 millionUS$366 million(2009)US$78 million(2009)
FDI outflows
200820092010
US$-80 millionN/AN/A
Value of cross-border M&A, by country of purchaser
2008200920102011
N/AN/A(2009)N/A(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 86 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 129 out of 183 countries(2009)

Registering property: 49 out of 183 countries

Paying Taxes: 137 out of 183 countries

Getting credit: 46 out of 183 countries

Protecting investors: 120 out of 183 countries

Trading across border: 65 out of 183 countries

Enforcing Contracts: 51 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		91

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 39 Score: 68.8 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC-6
Total area 21,041 km2 (2006)
CapitalSan Salvador (2009)
CurrencyUS dollar (USD) (2009)
Government typerepublic (2009)
LanguagesSpanish, Nahua (among some Amerindians)
ReligionsRoman Catholic 57.1%, Protestant 21.2%, Jehovah's Witnesses 1.9%, Mormon 0.7%, other religions 2.3%, none 16.8% (2003 estimate)
Total population
1980199020002010*2015**
4.59 million5.11 million5.47 million5.86 million6.07 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
38.3%44.1%58.4%61%
Population median age24.0 years (2006)
Population growth rate0.5% (2009)
Life expectancy72 years (2007)
Adult literacy86% (2000/2007)
% of population living on less than $2 a day15.22% (2011)
Inequality of wealth distribution (Gini index)

46.6 (2008)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:3 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

140.5% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population15% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

San Salvador: 199th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

0.9966 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Banco Agrícola (National, 2012)
2011:
  • COUNTRY WINNERS Banco Agrícola (National, 2011)
2010:
  • COUNTRY WINNERS Banco Agrícola (National, 2010)
2009:
  • COUNTRY WINNERS Banco Agrícola (National, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:
  • COUNTRY WINNERS Citi (National, 2012)
2011:
  • COUNTRY WINNERS Citi (National, 2011)
2010:
  • COUNTRY WINNERS Citi (National, 2010)
2009:
  • COUNTRY WINNERS Citi (2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE