Tuesday, 17 August 2021 02:37

El Salvador will grow 9% during the last months of 2021 according to BCR

Written by Evelyn Alas

The president of the Banco Central de Reserva (BCR), Douglas Rodriguez, informed about the economic growth outlook for El Salvador.

In the conference he made known about how the economy will increase 9% in the remaining months of 2021, which, thanks to the dynamism of industrial production, exports, investment of capital goods and household consumption can reach a better economic growth in the country.

According to the president of the BCR, it is expected that during the remaining months of 2021 the economic growth will be above the Latin American average of 5.2%, projected by the Economic Commission for Latin America and the Caribbean (ECLAC).

It also assures that El Salvador's exports amounted to US$3,846.3 million in the month of july 2021. The current figure has an annual growth of 44.5%, while the growth in terms of volume was 10.1%.

El Salvador received US$4,285 million in family remittances during the period from january to july 2021.

This figure reflects a 39.5% growth compared to the same period of the previous year.

The main destinations of Salvadoran goods were Central America and the United States with US$1,685.8 million and US$1,561.1 million, respectively representing 84.4% of total exports.

El Salvador, with 9%, is expected to be one of the countries with the highest economic growth in the Central American region, being surpassed by Panama with 12%.