Flag El Salvador

Econ Complexity (2018): -0.084, Rank 72 of 137

Product Exports (2018): $6.29B, Rank 105 of 222

Exports Per Capita (2018): $980, Rank 191 of 219

Product Imports (2018): $11.2B, Rank 95 of 221

Imports Per Capita (2018): $1.75k, Rank 192 of 219

Service Exports (2018): $1.98B, Rank 55 of 88

Service Imports (2018): $1.63B, Rank 66 of 88

GDP (2018): $26.1B, CURRENT US$
Rank 106 of 196

GDP growth (2008 - 2018): 44.9%, CURRENT US$
Rank 88 of 196

GDP PC (2018): $4,058, CURRENT US$
Rank 123 of 196

GDP PC GROWTH (2008 - 2018): 38.3%, CURRENT US$
Rank 65 of 196

Overview: In 2018 El Salvador was the number 106 economy in the world in terms of GDP (current US$), the number 105 in total exports, the number 95 in total imports, and the number 72 most complex economy according to the Economic Complexity Index (ECI). In 2018, El Salvador exported $6.29B and imported $11.2B, resulting in a negative trade balance of -$4.94B. In 2018, El Salvador's exports per capita were $980 and its imports per capita were $1.75k.

Trade: The top exports of El Salvador are Knit T-shirts ($800M), Electrical Capacitors ($487M), Knit Sweaters ($377M), Knit Socks and Hosiery ($250M), and Plastic Lids ($203M). The top imports of El Salvador are Refined Petroleum ($1.08B), Planes, Helicopters, and/or Spacecraft ($285M), Knit T-shirts ($253M), Light Rubberized Knitted Fabric ($237M), and Petroleum Gas ($232M).

Destinations: El Salvador exports mostly to United States ($2.64B), Honduras ($906M), Guatemala ($848M), Nicaragua ($407M), and Costa Rica ($262M), and imports mostly from United States ($3.38B), China ($1.42B), Guatemala ($1.16B), Mexico ($902M), and Honduras ($749M).

Location: El Salvador borders Guatemala by land and Honduras and Nicaragua by sea.

Product Exports

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Value
Depth

Top Export (2018): Knit T-shirts, $800M

Top Destination (2018): United States, $2.64B

In 2018 El Salvador exported a total of $6.29B, making it the number 105 exporter in the world. During the last five reported years the exports of El Salvador have changed by $412M from $5.88B in 2013 to $6.29B in 2018.

The most recent exports are led by Knit T-shirts ($800M), Electrical Capacitors ($487M), Knit Sweaters ($377M), Knit Socks and Hosiery ($250M), and Plastic Lids ($203M). The most common destination for the exports of El Salvador are United States ($2.64B), Honduras ($906M), Guatemala ($848M), Nicaragua ($407M), and Costa Rica ($262M).

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Product Imports

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Value
Depth

Top Import (2018): Refined Petroleum, $1.08B

Top Origin (2018): United States, $3.38B

In 2018 El Salvador imported $11.2B, making it the number 95 trade destination in the world. During the last five reported years the imports of El Salvador changed by $304M from $10.9B in 2013 to $11.2B in 2018.

The most recent imports of El Salvador are led by Refined Petroleum ($1.08B), Planes, Helicopters, and/or Spacecraft ($285M), Knit T-shirts ($253M), Light Rubberized Knitted Fabric ($237M), and Petroleum Gas ($232M). The most common import partners for El Salvador are United States ($3.38B), China ($1.42B), Guatemala ($1.16B), Mexico ($902M), and Honduras ($749M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

El Salvador Exports Services (2018): $1.98B

El Salvador Imports Services (2018): $1.63B

In 2018, El Salvador exported $1.98B worth of services. The top services exported by El Salvador in 2018 were Personal travel ($966M), Air transport ($372M), Telecommunications services ($145M), Miscellaneous business, professional, and technical services ($95.5M), and Government services, n.i.e. ($79.9M).

The top services imported by El Salvador in 2018 were Sea transport ($452M), Personal travel ($435M), Air transport ($190M), Reinsurance ($132M), and Miscellaneous business, professional, and technical services ($106M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for El Salvador. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for El Salvador are Meat preparations: of the poultry of heading no. 0105, (i.e. of fowls of the species Gallus domesticus) (164%) and Meat and edible offal: of fowls of the species Gallus domesticus, cuts and offal, fresh or chilled (73%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for El Salvador are:
136: Most Favoured Nation duty rate treatement
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
188: Preferential tariff for Chinese Taipei
189: Preferential tariff for Colombia
192: Preferential tariff for Costa Rica
195: Preferential tariff for Cuba
199: Preferential tariff for Dominican republic
205: Preferential tariff for Ecuador
218: Preferential tariff for European Union countries
229: Preferential tariff for Guatemala
233: Preferential tariff for Honduras
270: Preferential tariff for Mexico
279: Preferential tariff for Nicaragua
285: Preferential tariff for Panama
328: Preferential tariff for United States

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years El Salvador's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨63rd to the 72nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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El Salvador has a high level of specialization in Molasses (96.9), Cereal Flours (82.1), Knit Men's Undergarments (69.7), Asbestos Cement Articles (53.4), and Knit Socks and Hosiery (52.5). Specialization is measured using RCA, an index that takes the ratio between El Salvador observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of El Salvador according to the product complexity index (PCI) are Flat-rolled alloy steel nes, width >600mm (1.49), Flat-rolled alloy steel nes, <600mm wide (1.19), Machines for knitting, lace, embroidery, tufting, etc (1.06), Transfers (decalcomanias) (1), and Plastic articles nes (0.92). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for El Salvador according to the relatedness index, are Other Vegetables (0.26), Tropical Fruits (0.26), Crustaceans (0.25), Perfume Plants (0.25), and Cassava (0.25). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that El Salvador is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.