ton
Diplomatic representation from the US:
chief of mission: Ambassador Anne W. PATTERSON
embassy: Final Boulevard Santa Elena, Station Antiguo Cuscatlan, San
Salvador
mailing address: Unit 3116, APO AA 34023
telephone: [503] 278-4444
FAX: [503] 278-6011
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
@El Salvador:Economy
Economy-overview: In 1997 the government emphasized a fixed exchange
rate, along with conservative monetary and fiscal policies to promote
foreign investment. Inflation fell to an unprecedented low of 2%.
Exports reached a record level and were the main engine of growth.
Productivity in other sectors remained weaker, however. For the last
few years, El Salvador has experienced sizable deficits in both its
trade and its fiscal accounts. The trade deficit has been offset by
remittances from the large number of Salvadorans living abroad and
from external aid. The deficit is expected to increase in 1998 as
imports continue to rise. San Salvador is stepping up its
privatization efforts in 1998 to increase revenues. Late in 1997 the
legislative assembly approved a privatization law that will facilitate
the sale of the state-owned telephone company sometime in 1998. The
government also plans to privatize pension funds later in the year.
GDP: purchasing power parity-$17.8 billion (1997 est.)
GDP-real growth rate: 4% (1997 est.)
GDP-per capita: purchasing power parity-$3,000 (1997 est.)
GDP-composition by sector:
agriculture: 15%
industry: 24%
services: 61% (1997 est.)
Inflation rate-consumer price index: 2% (1997)
Labor force:
total: 2.26 million (1997 est.)
by occupation: agriculture 40%, commerce 16%, manufacturing 15%,
government 13%, financial services 9%, transportation 6%, other 1%
Unemployment rate: 7.7% (1997 est.)
Budget:
revenues: $1.75 billion
expenditures: $1.82 billion, including capital expenditures of $317
million (1997 est.)
Industries: food p
|