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Economy of El Salvador vs Ghana compared: GDP & Debt

Updated on by Georank team

El Salvador has a GDP of $35.4B compared to $82.3B for Ghana, ranking 105/197 and 80/197 by economy size, respectively.

El Salvador has $30.9B in government debt (87.5% of GDP), compared to $57.9B (70.3% of GDP) in Ghana.

El Salvador vs Ghana GDP by year

El Salvador
Ghana
1x
Year GDP, current $
El Salvador Ghana
2024 $35,364,960,000 $82,308,110,386
2023 $33,853,940,000 $80,547,146,878
2022 $31,870,120,000 $73,919,003,210
2021 $29,043,140,000 $79,514,204,730
2020 $24,921,190,000 $70,008,243,860
2019 $26,881,140,000 $68,352,629,246
2018 $26,020,850,000 $67,259,353,966
2017 $24,979,190,000 $60,385,409,435
2016 $24,191,430,000 $56,144,179,398
2015 $23,438,240,000 $49,436,806,230
2014 $22,593,470,000 $54,678,533,806
2013 $21,990,960,000 $62,845,721,960
2012 $21,386,150,000 $41,271,701,061
2011 $20,283,780,000 $39,336,668,081
2010 $18,447,920,000 $32,197,655,567
2009 $17,601,620,000 $26,048,720,006
2008 $17,986,890,000 $28,679,383,241
2007 $17,011,750,000 $24,827,339,138
2006 $15,999,890,000 $20,885,037,597
2005 $14,698,000,000 $10,744,568,381
2004 $13,724,810,900 $8,881,417,907
2003 $13,243,892,200 $7,632,723,556
2002 $12,664,190,300 $6,166,197,848
2001 $12,282,533,600 $5,314,872,854
2000 $11,784,927,700 $4,982,850,662
1999 $11,284,197,000 $7,718,109,982
1998 $10,936,669,900 $7,482,069,162
1997 $10,221,705,900 $6,891,443,192
1996 $9,586,327,800 $6,932,991,739
1995 $8,921,947,100 $6,464,382,808
1994 $7,679,384,000 $5,446,383,727
1993 $6,680,269,200 $5,968,922,939
1992 $5,813,399,300 $6,416,103,926
1991 $5,252,342,400 $6,603,185,268
1990 $4,817,542,204 $5,889,106,573
1989 $4,372,215,300 $5,251,858,440
1988 $4,189,880,000 $5,197,765,032
1987 $3,958,045,800 $5,074,829,932
1986 $3,771,663,200 $5,735,677,434
1985 $3,800,368,600 $4,504,306,723
1984 $3,661,683,400 $4,412,279,843
1983 $3,506,347,800 $4,057,275,132
1982 $3,399,189,100 $4,035,994,398
1981 $3,437,200,200 $4,222,441,860
1980 $3,573,959,900 $4,445,228,216
1979 $3,463,639,900 $4,020,227,920
1978 $3,127,960,000 $3,662,478,185
1977 $2,941,640,100 $3,189,428,571
1976 $2,328,280,100 $2,765,254,237
1975 $1,884,120,100 $2,810,106,383
1974 $1,665,880,000 $2,894,409,938
1973 $1,442,320,000 $3,006,766,758
1972 $1,263,720,000 $2,112,293,280
1971 $1,186,120,000 $2,417,108,578
1970 $1,132,920,000 $2,215,028,588
1969 $1,049,400,000 $1,962,050,556
1968 $1,009,760,100 $1,666,909,518
1967 $976,200,000 $1,747,187,645
1966 $929,520,000 $2,126,300,672
1965 $877,720,000 $2,053,462,968
1964 - $1,731,296,200
1963 - $1,540,797,589
1962 - $1,382,515,654
1961 - $1,302,674,325
1960 - $1,217,230,095

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/el-salvador/ghana | CC BY

GDP per capita in El Salvador vs Ghana by year

El Salvador
GDP per capita

GDP per capita, PPP
Ghana
GDP per capita

GDP per capita, PPP
1x
Year Current $
El Salvador Ghana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,580 $13,264 $2,391 $8,020
2023 $5,365 $12,680 $2,384 $7,556
2022 $5,075 $11,876 $2,230 $7,208
2021 $4,643 $10,810 $2,445 $6,608
2020 $3,997 $9,393 $2,195 $6,047
2019 $4,320 $9,757 $2,187 $6,003
2018 $4,184 $9,204 $2,195 $5,536
2017 $4,020 $8,965 $2,012 $5,171
2016 $3,901 $8,456 $1,912 $5,011
2015 $3,790 $7,934 $1,723 $5,191
2014 $3,666 $7,504 $1,950 $5,517
2013 $3,582 $7,093 $2,295 $5,215
2012 $3,498 $6,708 $1,544 $4,934
2011 $3,331 $6,594 $1,507 $4,381
2010 $3,040 $6,248 $1,264 $3,855
2009 $2,910 $6,063 $1,048 $3,617
2008 $2,983 $6,175 $1,183 $3,516
2007 $2,831 $5,949 $1,050 $3,241
2006 $2,666 $5,695 $906 $3,103
2005 $2,447 $5,292 $479 $2,904
2004 $2,286 $4,998 $406 $2,729
2003 $2,208 $4,829 $358 $2,584
2002 $2,115 $4,672 $297.5 $2,475
2001 $2,058 $4,543 $263.5 $2,397
2000 $1,983 $4,422 $253.7 $2,315
1999 $1,908 $4,298 $403 $2,239
1998 $1,860 $4,171 $400 $2,167
1997 $1,749 $4,043 $378 $2,097
1996 $1,651 $3,880 $389 $2,026
1995 $1,548 $3,808 $372 $1,947
1994 $1,344 $3,591 $321 $1,875
1993 $1,180 $3,390 $360 $1,821
1992 $1,041 $3,171 $396 $1,739
1991 $956 $2,945 $418 $1,678
1990 $892 $2,856 $383 $1,581
1989 $825 - $350 -
1988 $806 - $355 -
1987 $777 - $355 -
1986 $755 - $411 -
1985 $776 - $330 -
1984 $763 - $330 -
1983 $745 - $311 -
1982 $735 - $319 -
1981 $752 - $344 -
1980 $787 - $372 -
1979 $773 - $347 -
1978 $712 - $326 -
1977 $684 - $292.3 -
1976 $553 - $261 -
1975 $457 - $273 -
1974 $413 - $289.4 -
1973 $366 - $310 -
1972 $329 - $223.8 -
1971 $316 - $263.4 -
1970 $309 - $248.2 -
1969 $293.4 - $225.8 -
1968 $290.1 - $196.7 -
1967 $288.4 - $211.2 -
1966 $282.4 - $263.3 -
1965 $274.3 - $260.5 -
1964 - - $225 -
1963 - - $205 -
1962 - - $188.4 -
1961 - - $181.9 -
1960 - - $174.9 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/el-salvador/ghana | CC BY

El Salvador's GDP per capita is $5,580, ranking 116/197, compared to $2,391 in Ghana, ranking 151/197. Adjusted for purchasing power (GDP per capita PPP), El Salvador ranks 120th at $13,264, while Ghana ranks 140th at $8,020.

Economic indicators

El Salvador Ghana
Gross domestic product
$35.4B
2024
$82.3B
2024
GDP rank
105/197
2024
80/197
2024
GDP growth
2.6%
2023-2024
5.59%
2023-2024
GDP per capita
$5,580
2024
$2,391
2024
GDP per capita rank
116/197
2024
151/197
2024
GDP per capita, PPP
$13,264
2024
$8,020
2024
GDP per capita PPP rank
120/197
2024
140/197
2024
Government debt
$30.9B
2024
$57.9B
2024
Debt-to-GDP ratio
87.5%
2024
70.3%
2024
Government debt per person
$4,883
2024
$1,682
2024
Government debt per person rank
81/185
2024
123/185
2024
Average annual personal income after taxes
$4,768
2026
$2,110
2026
Market capitalization of domestic companies n/a
$7.58B
2024
Income share by richest 10%
29.7%
2023
32.2%
2016
Income share by poorest 10%
1.9%
2023
1.6%
2016
Government expenditure, % of GDP
31.4%
2024
23.2%
2024
Consumer prices inflation
0.85%
2023-2024
22.8%
2023-2024
Central bank interest rate n/a
25%
2025
Unemployment rate
2.71%
2024
2.87%
2022
Population
6399793
35885254

Spending and national debt comparison by year

El Salvador
Spending

Debt
Ghana
Spending

Debt
1x
Year % of GDP
El Salvador Ghana
Government spending Government debt Government spending Government debt
2024 31.4% 87.5% 23.2% 70.3%
2023 30.5% 85.1% 18.5% 79.1%
2022 28.7% 83.7% 27.5% 92.7%
2021 31.1% 88% 27.2% 86.9%
2020 32.7% 95.4% 31.5% 79.1%
2019 27.8% 77.9% 22.5% 62.9%
2018 27.6% 77% 20.9% 62%
2017 28.1% 77.1% 17.6% 57%
2016 27.5% 75.2% 19.9% 55.9%
2015 27.1% 73.5% 18.6% 53.9%
2014 27.6% 71.8% 21% 50.1%
2013 28.5% 69.7% 21.6% 42.9%
2012 27.4% 70% 22.1% 35.5%
2011 25.3% 65.6% 19.5% 31.2%
2010 25.6% 66.8% 19% 32.9%
2009 26% 65.8% 16.6% 25.4%
2008 24.5% 54.2% 16.6% 23.2%
2007 22.8% 52.2% 16.8% 21.1%
2006 23.4% 52.6% 14.4% 17.3%
2005 22.4% 46.3% 12.9% 31.7%
2004 21.5% 46.8% 13.7% 38.4%
2003 22.6% 46% 12.1% 49.3%
2002 22.5% 43.8% 10.7% 54.1%
2001 21.7% 37.8% 13.8% 57.8%
2000 21% 29.6% 12% 74.5%
1999 19.7% 28% 11.1% 51.7%
1998 19.3% 25.7% 11.8% 37.6%
1997 18.6% 27.8% 12% 45.2%
1996 21% 28.5% 12.4% 42.9%
1995 18.6% 28% 13% 47.6%
1994 18.9% 30.5% 12.7% 50.6%
1993 18.5% 31.9% 12.1% 34.1%
1992 20.8% 36.4% 9.2% 21.3%
1991 18.5% 43.3% 7.09% 17.3%
1990 15.9% - 6.59% 17.8%
1989 - - 7.24% 23%
1988 - - 7.23% 23.5%
1987 - - 7.32% 26.8%
1986 - - 7.29% 18.2%
1985 - - 6.08% 14.4%
1984 - - 4.64% 13%
1983 - - 3.49% 9.21%
1982 - - 4.73% 8.51%
1981 - - 5.74% 8.77%
1980 - - 7.51% 9.75%
1979 - - 9.14% 11.5%
1978 - - 6.54% 11.4%
1977 - - 10.5% 20.7%
1976 - - 12.8% 26%
1975 - - 13.2% 21.8%
1974 - - 9.52% 21.8%
1973 - - 9.35% 25.4%
1972 - - 11.4% 29.8%
1971 - - 11.7% 29.5%
1970 - - 12.2% 31.9%
1969 - - 11.2% 31.4%
1968 - - 12.3% 34.5%
1967 - - 11.5% 33.9%
1966 - - 9.12% 29.8%
1965 - - 14.2% 30.2%
1964 - - 15.8% 30.8%
1963 - - 15.3% 30.5%
1962 - - 12.5% 11.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/el-salvador/ghana | CC BY

In 2024, El Salvador's government spending was $11.1B, accounting for 31.4% of its GDP, while Ghana spent $19.1B, or 23.2% of GDP.

Debt-to-GDP ratio is 87.5% in El Salvador and 70.3% in Ghana, ranking 36/185 and 57/185, respectively.

Government deficit by year

Deficit/surplus
El Salvador

Ghana
1x
Year Deficit/surplus, % of GDP
El Salvador Ghana
2024 -4.55% -7.31%
2023 -4.69% -3.37%
2022 -2.68% -11.8%
2021 -5.53% -12%
2020 -8.18% -17.4%
2019 -3.07% -7.52%
2018 -2.71% -6.79%
2017 -2.53% -3.97%
2016 -3.1% -6.75%
2015 -3.63% -4.01%
2014 -4.02% -7.81%
2013 -4.46% -9.12%
2012 -3.81% -8.36%
2011 -4.47% -5.47%
2010 -4.97% -7.13%
2009 -6.65% -5.05%
2008 -3.8% -5.56%
2007 -2.32% -4.91%
2006 -3.42% -3.11%
2005 -3.47% -1.87%
2004 -2.76% -2.02%
2003 -4.23% -1.99%
2002 -5.5% -2.73%
2001 -4.95% -3.64%
2000 -3.45% -3.98%
1999 -3.08% -5.64%
1998 -2.94% -5.27%
1997 -1.97% -6.14%
1996 -2.7% -5.61%
1995 -0.18% -4.52%
1994 -0.94% -4.99%
1993 -1.42% -5.39%
1992 -4.29% -4.5%
1991 -2.3% -1.47%
1990 -0.61% -1.93%
1989 - -0.81%
1988 - -1.08%
1987 - -0.92%
1986 - -1.26%
1985 - -1.19%
1984 - -0.98%
1983 - -1.13%
1982 - -2.03%
1981 - -3.8%
1980 - -4.73%
1979 - -3.61%
1978 - -1.21%
1977 - -4.68%
1976 - -5.53%
1975 - -4.05%
1974 - -2.06%
1973 - -2.64%
1972 - -2.19%
1971 - 0.13%
1970 - -2.35%
1969 - -2.67%
1968 - -2.34%
1967 - -2.32%
1966 - -1.29%
1965 - -3.29%
1964 - -3.72%
1963 - -5.66%
1962 - -5.04%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/el-salvador/ghana | CC BY

In 2024, El Salvador's government deficit, the difference between spending and revenue, was $1.61B, equivalent to 4.55% of GDP. This compares to Ghana's deficit of $6.02B, or 7.31% of GDP.

Over the past 35 years, El Salvador recorded a fiscal deficit in 35 of those years, while Ghana ran a deficit in 35 years. On average, El Salvador posted an annual deficit equal to 3.52% of GDP, compared to deficit of 5.69% of GDP for Ghana.

Inflation comparison by year

Inflation
El Salvador

Ghana
1x
Year Consumer prices inflation
El Salvador Ghana
2024 0.85% 22.8%
2023 4.05% 38.1%
2022 7.2% 31.3%
2021 3.47% 9.97%
2020 -0.37% 9.89%
2019 0.08% 7.14%
2018 1.09% 7.81%
2017 1.01% 12.4%
2016 0.6% 17.5%
2015 -0.73% 17.1%
2014 1.14% 15.5%
2013 0.76% 11.7%
2012 1.73% 11.2%
2011 5.13% 8.73%
2010 1.18% 10.7%
2009 1.06% 19.2%
2008 6.71% 16.5%
2007 4.58% 10.7%
2006 4.04% 11.7%
2005 4.69% 15.4%
2004 4.45% 18%
2003 2.12% 29.8%
2002 1.87% 9.36%
2001 3.75% 41.5%
2000 2.27% 40.2%
1999 0.51% 4.87%
1998 2.55% 14.6%
1997 4.49% 27.9%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/el-salvador/ghana | CC BY

Over the past 28 years, El Salvador has recorded an average annual inflation rate of 2.51%, compared with 17.6% in Ghana. In 2024, inflation was 0.85% in El Salvador and 22.8% in Ghana.

Top exports between countries

El Salvador
Export category Export value
Wood & paper products $6K
Textiles & consumer goods $1K
Ghana
Export category Export value

Balance of trade

El Salvador Ghana
Current account balance
-$633M
2024
$1.68B
2024
Current account balance ranking
110/190
2024
49/190
2024
Current account balance, % of GDP
-1.79%
2024
+2.04%
2024
Goods imports
$15.1B
2024
$15.4B
2024
Goods exports
$5.59B
2024
$19.2B
2024
Service imports
$3.26B
2024
$11.5B
2024
Service exports
$6B
2024
$9.27B
2024
Imports of goods and services, % of GDP
51.9%
2024
34.3%
2024
Exports of goods and services, % of GDP
32.8%
2024
35.5%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

El Salvador Ghana
Economic freedom 57.7 57.3
Economic freedom ranking 114/197 118/197
Property rights 42.7 50.2
Government integrity 31.5 45.4
Judicial effectiveness 15.3 57.5
Tax burden 76.8 79.4
Government spending 72.7 84
Fiscal health 59.4 10.1
Business freedom 65.7 64.5
Labor freedom 51.6 54.9
Monetary freedom 70.6 56.7
Trade freedom 76.4 65.2
Investment freedom 70 60
Financial freedom 60 60

Economic freedom comparison by year

El Salvador
Ghana
1x
Year Economic freedom index
El Salvador Ghana
2026 57.7 57.3
2025 56.6 56
2024 54.4 55.8
2023 56 58
2022 59.6 59.8
2021 61 59.2
2020 61.6 59.4
2019 61.8 57.5
2018 63.2 56
2017 64.1 56.2
2016 65.1 63
2015 65.7 63
2014 66.2 64.2
2013 66.7 61.3
2012 68.7 60.7
2011 68.8 59.4
2010 69.9 60.2
2009 69.8 58.1
2008 68.5 57
2007 68.9 57.6
2006 69.6 55.6
2005 71.5 56.5
2004 71.2 59.1
2003 71.5 58.2
2002 73 57.2
2001 73 58
2000 76.3 58.1
1999 75.1 57.9
1998 70.2 57
1997 70.5 56.7
1996 70.1 57.7
1995 69.1 55.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/el-salvador/ghana | CC BY

The Economic Freedom Index for El Salvador is 57.7, ranking 114/197, compared to 57.3 for Ghana, ranking 118/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

El Salvador Ghana
Services, % of GDP
61%
2024
40.9%
2024
Industry, % of GDP
22.4%
2024
31.5%
2024
Agriculture, forestry, and fishing, % of GDP
4.38%
2024
20.9%
2024
GNI, Atlas method
$32.5B
2024
$79.5B
2024
GNI per capita, PPP
$12,420
2024
$7,720
2024
Total reserves including gold
$3.7B
2024
$3.62B
2023
Total reserves ranking
110/177
2024
112/177
2023
Net foreign direct investment
-$636M
2024
-$1.76B
2024
Net inflows of foreign direct investment
$924M
2024
$1.77B
2024
Net outflows of foreign direct investment
$288M
2024
$5.37M
2024
Servicing debt to the IMF, % of GNI
35%
2024
3.45%
2024
Poverty at national poverty lines
27.2%
2023
23.4%
2016
Gross capital formation, % of GDP
20.3%
2024
10%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/el-salvador/ghana | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.