Business and Economy


El Salvador Exports

El Salvador’s Exports Dropped by $617.02 Million in 2023, the Worst Decline Since 2020


According to the Salvadoran Reserve Bank (BCR), El Salvador’s exports in 2023 were $6,498.09 million, a drop of 8.67% or $617.2 million less than the $7,115.11 it exported in 2022. Except for a growth spike in February, the country’s exports consistently posted negative numbers throughout the rest of the year. … Read more

El Salvador Currency

The Salvadoran Central Reserve Bank Confirms the Circulation of $0.50 Coins and $2 Bills


Despite not being so common, the Salvadoran Central Reserve Bank (BCR) stated that $0.50 coins and $2 bills are currencies are legal tenders that can be used throughout the Salvadoran territory. The $0.50 coin, commonly referred to as “a half dollar,” possesses a silver coloring, and it is larger than … Read more

World Bank El Salvador Economic Outlook

The World Bank Predicts El Salvador’s Economy Will Grow by 2.3% in 2024


On January 9, 2024, the World Bank released its Global Economic report and predicted that El Salvador’s economy will grow by 2.3% in 2024, which is the lowest economic growth outlook in Central America. The World Bank’s projection for El Salvador is lower than that announced by the Central Reserve … Read more

ECLAC El Salvador Economic Outlook

The Economic Commission for Latin America “ECLAC” Predicts El Salvador’s Economy Will Grow by 2% in 2024


The Economic Commission for Latin America (ECLAC) predicts an economic growth of 2% for El Salvador in 2024. The projected increase was made public on ECLAC’s December 2023 Preliminary Overview of the Economies of Latin America and the Caribbean 2023. The United Nations agency’s projection falls below the 2.5% to … Read more

IMF Economic Outlook for El Salvador

The International Monetary Fund “IMF” Predicts El Salvador’s Economy Will Grow by 1.9% in 2024


In its October 2023 World Economic Outlook report, the International Monetary Fund IMF estimated a 1.9% economic growth for El Salvador in 2024, the lowest in Central America. Our growth projections of 3.0% in 2023 and 2.9% in 2024 show that the resilience to the shocks of the past few … Read more

Rolando Castro Salvadoran Labor Minister

3,000 Salvadorans Will Be Able to Travel to Canada and Work Legally Next Year


Yesterday, December 6, Rolando Castro, the Minister of Labor in El Salvador, announced during a press conference that El Salvador will place 3,000 new workers in Canada next year. The Minister of Labor remarked that various companies have requested the outstanding Salvadoran workforce. “This month alone, more than 200 people … Read more

BCIS President Gisela Sanchez

Gisela Sanchez, elected new president of the Central American Bank for Economic Integration (CABEI)


The Central American Bank for Economic Integration (CABEI) Assembly of Governors elected Costa Rican Ana Gisela Sanchez as the institution’s new president. Gisela Sanchez was elected this Friday, November 17, becoming the first woman president of CABEI. Her election ended a Honduran dynasty at the head of the principal financial … Read more