El Salvador Economy 5-21-24

El Salvador has a good President with a 92% approval rating and has good potential. 

Nominal GDP $35.339B per capita GDP $5,558, Population 6,765,753, Debt to GDP 84.90%, Ave Wage $5,100/yr, Unemployment is 4.7%, Inflation is 14.7%, Urban 75%, Rural 25%. Land area is 8,124 sq miles. Arable land is 82%. Clean water 88%. 

In 2021, Exports totaled $6.3B and Imports totaled $14.6B, Trade Deficit was $8.2B.

In 2022, Exports totaled $7.47B Imports totaled $16.3B. Trade Deficit was 8.83B.

In 2023, no clear data was available on google.

In 2022, Exports included coffee, cotton, corn (maize), sugarcane, palm, coconut, fruit, tamarind, melon, watermelon, and mango. offshore assembly exports, coffee, sugar, textiles and apparel ($2.5B), gold, ethanol, chemicals, electricity, iron and steel manufactures.

The top exports of El Salvador are Knit T-shirts ($848M), Knit Sweaters ($535M), Electrical Capacitors ($343M), Plastic Lids ($316M), and Raw Sugar ($232M), exporting mostly to United States ($2.87B), Guatemala ($1.21B), Honduras ($1.18B), Nicaragua ($497M), and Costa Rica ($304M).

In 2022 The top imports of El Salvador were Refined Petroleum ($1.87B), Petroleum Gas ($540M), 

Broadcasting Equipment ($400M), Packaged Medicaments ($303M), Light Rubberized Knitted Fabric ($300M), importing mostly from United States ($4.94B), China ($2.61B), Guatemala ($2.03B), 

Mexico ($1.25B), and Honduras ($940M).

Since 2022, El Salvador's government has been really tough on gangs, which has made the country much safer but also led to a lot of arrests of citizens (which is also concerning). Even though this has helped lower gang problems, there are still warnings about crime in certain areas.

Norb Leahy, Dunwoody GA Tea Party Leader