Economic Survey of Latin America and the Caribbean 1995-1996

image of Economic Survey of Latin America and the Caribbean 1995-1996

This publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. It also explores the economic developments by country. Included also is a statistical annex on diskette.



El Salvador

In 1995, the economy of El Salvador continued growing in a stable environment, even though the targets set out in the monetary and financial programme were not fully met. In a fourth year of significant expansion, gross domestic product (GDP) grew by 6%. Large inflows of remittances from Salvadorans resident abroad stimulated domestic demand and activities catering to the local market. Increased domestic spending continued to erode the real exchange rate, which encouraged imports. The trade deficit widened to nearly 16% of gdp, exacerbating the balance-of-payments current account deficit. Nevertheless, merchandise exports rose by 33% at current values, while volume expanded by 17%.


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