Central America and the Caribbean > El Salvador > Economy

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Agriculture > products coffee, sugar, corn, rice, beans, oilseed, cotton, sorghum; shrimp; beef, dairy products
Aid as % of GDP	1.4%		[74th of 129]
Debt > External	$9,574,000,000.00		[78th of 136]
Distribution of family income > Gini index	52.4		[2nd of 43]
Economic freedom	2.75		[26th of 156]
Economy > Overview The smallest country in Central America, El Salvador has the third largest economy, but growth has been modest in recent years. Robust growth in non-traditional exports have offset declines in the maquila exports, while remittances and external aid offset the trade deficit from high oil prices and strong import demand for consumer and intermediate goods. El Salvador leads the region in remittances per capita with inflows equivalent to nearly all export income. Implementation in 2006 of the Central America-Dominican Republic Free Trade Agreement (CAFTA), which El Salvador was the first to ratify, has strengthened an already positive export trend. With the adoption of the US dollar as its currency in 2001, El Salvador lost control over monetary policy and must concentrate on maintaining a disciplined fiscal policy. The current government has pursued economic diversification, with some success in promoting textile production, international port services, and tourism through tax incentives. It is committed to opening the economy to trade and investment, and has embarked on a wave of privatizations extending to telecom, electricity distribution, banking, and pension funds. In late 2006, the government and the Millennium Challenge Corporation signed a five-year, $461 million compact to stimulate economic growth and reduce poverty in the country's northern region through investments in education, public services, enterprise development, and transportation infrastructure.
Exports	$4,035,000,000.00		[110th of 189]
GDP	$18,306,150,000.00		[81st of 203]
GDP > PPP	$34,396,000,000.00		[83rd of 163]
GDP > Real growth rate	4.7%		[110th of 198]
GINI index	52.36		[6th of 40]
Gross National Income	$13,030,700,000.00		[71st of 172]
Human Development Index	0.722		[105th of 178]
Income category	Lower middle income
Income distribution > Richest 10%	39.5%		[21st of 114]
Population below poverty line	30.7%		[9th of 46]
Poverty > Share of all poor people	0.12 % of world's poor		[39th of 80]
Public debt	37.3 % of GDP		[59th of 121]
Technological achievement	0.25		[49th of 68]
Tourist arrivals	387,000		[75th of 152]

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