El Salvador Economy

El Salvador Economy  | read this item

The population of El Salvador comes up to 6,822,378 people. The indicator of GDP expressed itself through 2.80% in 2006. Actually, agricultural economy is the most typical of El Salvador. But nowadays, services sector and industrial one take a higher percentage than before.

Coffee is the main El Salvador export. Industrial sector finds its expression in the domestic and the Central American markets. Anyway, we still do outline a low level of indebtedness.

El Salvador adopted dollar as its national currency only in 2001. Corn is the country’s prime subsistence crop. Rice, beans, oilseeds are also among agricultural produce. Petroleum, light metals, chemicals, furniture are said to be leading manufacturing industries. Among the country’s leading imports we observe electricity, raw materials, consumer goods and fuel. Here we do mention the names of the United States as a leading partner of El Salvador.

While analyzing the economy of El Salvador in 2008 we notice the movement of consumer price index. Inflation stood at 6.8% in April of 2008. Transport prices have risen considerably because of oil prices. Specialists predict that higher industrial prices will lead to the rising of consumer prices. In order to perform containment of inflation the country has to stabilize oil prices.

Topics: agricultural economy, american markets, Central American, consumer, consumer price index, Corn, country, economy, El Salvador, inflation, light metals, manufacturing industries, national currency, oil, petroleum light, population, population of el salvador, sector, United States