With a young and economically active population, easy logistics access through the Panama Canal, modern infrastructure, and legal tenders of US dollars and bitcoin, the Republic of El Salvador deserves consideration as a business destination.
While El Salvador’s economy has traditionally been agricultural, services and industry now employ a greater percentage of the workforce and account for a higher percentage of GDP. Indeed, El Salvador has the third largest economy in Central America – a major achievement for the smallest country in the continental Americas.
El Salvador commissioned its first geothermal power plant in 1975, which gives it unprecedented expertise and makes it a regional renewable energy front runner. El Salvador now hosts the Geothermal Centre of Excellence, a leading training facility for the geothermal industry.
Food and beverage processing is an important industry, though El Salvador’s manufacturing sectors also include petroleum, chemicals, fertiliser, textiles, furniture, and light metals. The country’s main exports include coffee, sugar, shrimp, textiles, and chemicals. The leading imports are raw materials, consumer and capital goods, fuel, food, petroleum, and electricity.