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El Salvador
| Economy Overview |
| The smallest country in Central America, El Salvador has the third largest economy, but growth has been minimal in recent years. Hoping to stimulate the sluggish economy, the government is striving to open new export markets, encourage foreign investment, and modernize the tax and healthcare systems. Implementation in 2006 of the Central America-Dominican Republic Free Trade Agreement, which El Salvador was the first to ratify, is viewed as a key policy to help achieve these objectives. The trade deficit has been offset by annual remittances from Salvadorans living abroad - 16.6% of GDP in 2005 - and external aid. With the adoption of the US dollar as its currency in 2001, El Salvador has lost control over monetary policy and must concentrate on maintaining a disciplined fiscal policy. |
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| Economy Statistics |
| Exports: |
$3.586 billion (2005 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
offshore assembly exports, coffee, sugar, shrimp, textiles, chemicals, electricity [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 65.6%, Guatemala 11.8%, Honduras 6.3% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$6.678 billion (2005 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
raw materials, consumer goods, capital goods, fuels, foodstuffs, petroleum, electricity [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
US 46.3%, Guatemala 8.1%, Mexico 6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| American Chamber of Commerce of El Salvador |
| Address: |
WORLD TRADE CENTER TORRE II LOCAL 308
89 AVENIDA NORTE
COLONIA ESCALON |
| Phone: |
(503)2263-9494 |
| Fax: |
(503)2263-9393 |
| Website: |
http://www.amchamsal.com/ |
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