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The economy of El Salvador has experienced relatively low rates of GDP growth, in comparison to other developing countries. Rates have not risen above the low single digits in nearly two decades – part of a broader environment of macroeconomic instability which the integration of the United States dollar has done little to improve. [14]
The major commodities that El Salvador exports to China are electrical capacitors, raw sugar, and coffee. Between 1995 and 2019, exports from El Salvador to China have increased at an annualized rate of 14.7%, while exports from China to El Salvador have increased at an annualized rate of 16.6%. [6]
On the other hand, a large part of the exports of Costa Rica (which has a Free Trade Agreement with China), El Salvador, and Mexico to China were high-tech manufactured goods. [6] 5% of China's exports went to Latin America in 2009 and consisted mainly of industrial and manufactured goods. Chinese goods are popular in part due to their low costs.
China is making its influence felt in Latin America and the Caribbean in a way officials say is harmful to the U.S. and via methods the U.S. can't employ.
The constitutional chamber of El Salvador's Supreme Court of Justice on Friday declared an executive decree that would establish protocols for the gradual reopening of the economy as unconstitutional.
Cuba is not included in the list due to lack of economic data. Of the countries listed, some are not independent: Aruba is a constituent country of the Kingdom of the Netherlands, and Puerto Rico is a United States territory with special status and thus is measured separately from the U.S. by the World Economic Outlook.
Real GDP growth rates of Latin American and the Caribbean nations [1]; Rank Nation GDP growth rate (%) Year 1 Montserrat [a] 7.40: 2011 est. 2 Panama 5.40: 2017 est. 3 Nicaragua 4.90
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