Print this page

El Salvador registers an economic growth of 2.5 % in 2018

Written by 
Rate this item
(1 Vote)

El Salvador recorded a growth rate of 2.5 % in 2018, an increase of two decimal points compared to 2017. The factors that contributed most to this growth were final consumption of 2.4 % and investment 6.8 %, according to the Central Reserve Bank (BCR).

 

 The economic activities with greater dynamism during the year were: Exploitation of Mines and Quarries with an interannual growth rate of 6.8 %; Construction, 6.6 %; Administrative and Support Services Activities, 4.8 %; and Housing and Services Activities, 4.2 %.

 

In the Foreign Sector, exports registered a value of US$ 5,904.06 million in 2018 with an increase of US$ 144.6 million with respect to the previous year.  Exports from the Manufacturing Industry 2.8 % and Maquila 14.3 %, were the sectors of greatest growth. Agricultural goods had a reduction of 3.3 % due to the drop in sales of plants with which drinks are prepared, such as coffee, and the environmental effects caused by drought.

 

Imports, on the other hand, amounted to US$ 1,258.3 million presenting a growth of 11.9 %. The items with the highest growth were consumer goods with a rate of 8.7 %, intermediate consumer goods, 11.4 %; and capital, 8.8 %.

 

At the end of 2018, investment increases totaled US$ 1,855.1 million, representing an interannual variation of 5.4 %. In net terms, Foreign Direct Investment (FDI) ended the year with US$ 839.6 million. FDI flows received by the country are mainly linked to Industrial Activity of 49.2 %;  Trade, 11.7 %; and Financial Sector, 10.6 %.

Actualizado 04/29/2019

Latest from Vanessa Bandak