Deterioration in El Salvador’s Economy

The first six months of 2012 reflect poor growth levels of 1%, below the already meager 1.6% projected by the government.

Tuesday, July 10, 2012

From the Salvadoran Association of Industrialists (ASI):

The Salvadoran Association of Industries (ASI) presented the balance of the Salvadoran economy during the first six months of the year, demonstrating that El Salvador is the country with the lowest economic growth and the only clear decrease in the region.

According to data from the Industrial Intelligence Management of the ISA, the first six months of 2012, already reflect a slow growth of 1%. Below the 1.6% projected by the government.

According to the report, all countries in the region recorded positive growth: Costa Rica has had the best results with 7.2% growth, followed by Honduras, which grew by 6.4%, Nicaragua 4.1%, and Guatemala 3.4%.

"We're seeing an economy tremendously affected by the political instability and legal uncertainty prevailing in our country", said Javier Siman, president of the union.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Worrying Economic Outlook

June 2018

In the first months of the year, the pace of economic activity, employment and bank credit have been slowing down, complicating Costa Rica's economic outlook in the coming months.

During the fourth month of the year, economic activity reported an interannual growth of 2.8%, an increase that is below the average growth rate of 3% reported in the last eight years.  On top of this awards of bank loans went up 6% with respect to February 2017, half the rate it was growing at a year ago.

Costa Rica's Economy Losing Strength

November 2011

Industry, trade and agriculture, which together make up half the country's GDP, are showing signs of slow-down, which in turn will impact growth targets for 2011 and 2012.

Costa Rica's economic activity indicator for August displayed an increase of 4.2% for trade, lower than in previous months. Since last May, Industry growth has been stagnant at 3.5% relative to 2010, while the agricultural sector has started to fall.

Decline in Salvadoran Insurance Foreseen

April 2009

Insurers estimate that they could experience a growth of 5% or a decrease of 3% for 2009.

Against this backdrop, Salvadoran insurers plan to tackle the economic crisis by easing customer payments for the sales of net premiums so they will not fall into delinquency.

On the forecast for the industry, Peter Geoffry, secretary of the Salvadoran Association of Insurance Companies (ASES), told La Prensa Gráfica: "We think this 11.4% (growth for 2008) will not be very sustainable. We are obviously not talking about growth rates for 2009. We are predicting very slight decreases due to the situation in business generation this year."

Honduras records negative first-quarter growth of 3.3 percent

May 2008

Honduras registered negative year-on-year growth of 3.3 percent in the first quarter of 2008, the government announced.

BCH, the central bank, blamed the rise in world fuel prices, an absence of dynamism in the manufacturing sector, high inflation and the increased costs of raw materials for construction.

ok