El Salvador’s Robust Economic Growth in 2023 Sets Stage for Continued Success in 2024.

El Salvador concluded 2023 with a significant economic upswing, solidifying its position as one of the region’s key economies. According to the latest report from the Central Reserve Bank (BCR), the country experienced a remarkable 4.9% growth in economic activity in December, contributing to an overall annual increase of the same magnitude.

The sectors driving this surge were diverse, with construction, financial services, trade, transportation, hotels and restaurants, professional services, and government services showcasing exceptional dynamism, as reported by the BCR. These industries collectively played a pivotal role in elevating El Salvador’s economic landscape.

The Index of Economic Activity Volume (IVAE) for 2023 registered a robust 4.9% growth, reflecting the positive momentum of the Salvadoran economy during the year. Notably, the BCR attributed this success to various strategies implemented by President Nayib Bukele’s government, particularly emphasizing the impact on construction, credit demand for productive activities, and the tourism sector.