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LatinNews Daily - 30 September 2021
In brief: El Salvador’s GDP surges in Q2 2021
* El Salvador’s central bank (BCR) has released new figures which show the country’s GDP grew 24.5% in the second quarter of 2021 year-on-year, largely due to the low base of comparison due to measures taken to stop the spread of the coronavirus (Covid-19) in 2020. This is up from 3% in Q1 2021. El Salvador’s GDP contracted 7.9% in 2020 due to the pandemic. The BCR said the Q2 figure confirms the BCR’s previous projections of 9% GDP growth for 2021, which it revised upwards last month from a previous 6% forecast. Activities driving growth in the second quarter were: housing & food services, which were up 66.6%; manufacturing industries (+51.8%); transport & storage (+37.6%); and construction (+35.2%).
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