Solid growth, remaining structural challenges
B2
MEDIUM RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in January 2024.
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GDP | USD 95.0bn (World ranking 69, World Bank 2022) |
Population | 17.4mn (World ranking 70, World Bank 2022) |
Form of state | Constitutional Democratic Republic |
Head of government | Bernardo Arévalo (President) |
Next elections | 2027, presidential and legislative |
- Prudent macroeconomic policy framework
- Moderate debt ratios and adequate external balance
- Access to international financial support likely if needed
- Trade agreement with the U.S. (DR-CAFTA)
- Mining and agricultural resources
- High dependency on primary commodities and the U.S. (trade and remittances)
- Weak institutional framework, legacy of political instability
- Severe levels of crime and drug trafficking
- Low medium-term real GDP per capita growth and highly skewed income distribution
- Poor infrastructure
- Lack of skilled labor supply
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
United States
32.5%
|
1 |
32.0%
United States
|
El Salvador
11.5%
|
2 |
18.2%
China
|
Honduras
9.7%
|
3 |
10.1%
Mexico
|
Nicaragua
5.4%
|
4 |
3.3%
El Salvador
|
Mexico
4.4%
|
5 |
2.5%
Costa Rica
|
Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Vegetables and fruits
15.0%
|
1 |
14.6%
Petroleum, petroleum products and related materials
|
Articles of apparel & clothing accessories
12.7%
|
2 |
6.6%
Road vehicles
|
Coffee, tea, cocoa, spices, and manufactures thereof
10.1%
|
3 |
4.4%
Cereals and cereal preparations
|
Fixed vegetable oils and fats, crude, refined or fractionated
6.9%
|
4 |
4.3%
Iron and steel
|
Sugar, sugar preparations and honey
6.1%
|
5 |
4.2%
Telecommunication and sound recording apparatus
|
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