Solid growth, remaining structural challenges

B2

MEDIUM RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in December 2022.

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GDP USD 85.986bn (World ranking 68, World Bank 2021)
Population 17.11mn (World ranking 69, World Bank 2021)
Form of state Constitutional Democratic Republic
Head of government Alejandro Giammattei (President)
Next elections 2023, 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)
  • Effective management of current account
  • 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

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
United States 32.3%
1
32.8% United States
El salvador 11.7%
2
15.6% China
Honduras 9.9%
3
10.4% Mexico
Nicaragua 5.5%
4
4.5% El Salvador
Mexico 4.4%
5
2.9% Costa Rica

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Vegetables and fruits 15.6%
1
12.0% Petroleum, petroleum products and related materials
Articles of apparel & clothing accessories 12.5%
2
7.4% Road vehicles
Coffee, tea, cocoa, spices, and manufactures thereof 11.0%
3
4.9% Iron and steel
Fixed vegetable oils and fats, crude, refined or fractionated 6.1%
4
4.6% Textile yarn and related products
Iron and steel 5.5%
5
4.2% Telecommunication and sound recording apparatus
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