An Introduction to El Salvador
El Salvador is the smallest and the most densely populated country in Central America. Ongoing rapid industrialisation has raised the standard of living and diversified the economy. Conversely, it's one of the few countries experiencing reforestation - overall forest cover has expanded by nearly 20 percent since 1992. See full country profile.Latest Research News from Latin America
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GOVERNMENT: Federal constitutional republic
AREA: 21,041 sq km
POPULATION: 6,071,774 (2011 est.)
MAJOR LANGUAGE: Official Language: Spanish
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El Salvador is the smallest and the most densely populated country in Central America. Ongoing rapid industrialisation has raised the standard of living and diversified the economy. Conversely, it's one of the few countries experiencing reforestation - overall forest cover has expanded by nearly 20 percent since 1992.
The Spanish settled the country in the 16th century despite fierce resistance from the native Pipil and Lenca tribes. El Salvador was independent within the Federal Republic of Central America from 1821 and on its own from 1841. The twentieth century was marked by unstable government, attempted revolutions and coups, culminating in a long civil war from 1980 to 1992.
GDP: $44.8bn (2011 est); $6,919 per capita
Religions Roman Catholic 57.1%, Protestant 21.2%, Jehovah's Witnesses 1.9%, Mormon 0.7%, other religions 2.3%, none 16.8% (2003 est.)
Currency: The El Salvador Colón was the official currency from 1892 to 2001, when it adopted the U.S. Dollar - the two are now used concurrently [9.0 SVC = $US 1]
Telephone Code: +503
El Salvador's economy has made enormous strides since the civil war ended in 1992. This is mostly due to strict fiscal discipline on the part of the government (including VAT at 13% and income tax at 30%) and judicious alignments such as membership of the Dominican Republic-Central American Free Trade Agreement (CAFTA-DR) and a $461m compact with the US government agency Millennium Challenge Corporation (MCC) to stimulate economic growth and reduce poverty in the areas most hit by the war.
Membership of CAFTA-DR has boosted export of processed foods, sugar, and ethanol, and strengthened the county's competitive edge against Asian competition in the clothing sector. The government has also promoted open trade and investment and embarked on a programme of utility and financial services privatization.
Exports ($3.85bn in 2009) include offshore assembly exports, coffee, sugar, textiles and apparel, gold, ethanol, chemicals, electricity and iron and steel manufactured goods which are being sent mostly to the US (44%), Guatemala (14%), Honduras (13%) a'd Nicaragua (6%). Major imports (total $6.70bn in 2009) are raw materials, consumer goods, capital goods, fuels, foodstuffs, petroleum and electricity coming from the US (30%), Mexico (10.3%) and Guatemala (9.7%).
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