mailing address: Unit 3450, APO AA 34023; 3450 San Salvador Place, Washington, DC 20521-3450
telephone: [503] 2501-2999
FAX: [503] 2501-2150
Flag description:
three equal horizontal bands of blue (top), white, and blue with the national coat of arms centered in the white band; the coat of arms features a round emblem encircled by the words REPUBLICA DE EL SALVADOR EN LA AMERICA CENTRAL; similar to the flag of Nicaragua, which has a different coat of arms centered in the white band - it features a triangle encircled by the words REPUBLICA DE NICARAGUA on top and AMERICA CENTRAL on the bottom; also similar to the flag of Honduras, which has five blue stars arranged in an X pattern centered in the white band
Economy ::El Salvador
Economy - overview:
The smallest country in Central America, El Salvador has the third largest economy, but growth has been modest in recent years. Economic growth will decelerate in 2009 due to the global slowdown and to El Salvador's dependence on exports to the US and remittances from the US. El Salvador leads the region in remittances per capita with inflows equivalent to nearly all export income. In 2006 El Salvador was the first country to ratify the Central America-Dominican Republic Free Trade Agreement (CAFTA). CAFTA has bolstered the export of processed foods, sugar, and ethanol, and supported investment in the maquila sector. The SACA administration has sought to diversify the economy, focusing on regional transportation and tourism. El Salvador has promoted an open trade and investment environment, and has embarked on a wave of privatizations extending to telecom, electricity distribution, banking, and pension funds. In late 2006, the government and the Millennium Challenge Corporation signed a five-year, $461 million compact to stimulate economic growth and reduce poverty in the country's northern region through investments in education, public services, enterprise development, and transportation infrastructure. With the adoption of the US dollar as its currency in 2001, El Salvador lost control over monetary policy and must concentrate on maintaining a disciplined fiscal policy.
GDP (purchasing power parity):
$43.73 billion (2008 est.) country comparison to the world: 91 $42.66 billion (2007 est.)