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Economy of El Salvador vs Guatemala compared: GDP & Debt

Updated on by Georank team

El Salvador has a GDP of $35.4B compared to $113B for Guatemala, ranking 105/197 and 68/197 by economy size, respectively.

El Salvador has $30.9B in government debt (87.5% of GDP), compared to $29.8B (26.3% of GDP) in Guatemala.

El Salvador vs Guatemala GDP by year

El Salvador
Guatemala
1x
Year GDP, current $
El Salvador Guatemala
2024 $35,364,960,000 $113,199,581,158
2023 $33,853,940,000 $104,368,755,055
2022 $31,870,120,000 $95,641,446,501
2021 $29,043,140,000 $86,455,522,273
2020 $24,921,190,000 $77,719,468,248
2019 $26,881,140,000 $77,172,331,693
2018 $26,020,850,000 $73,328,356,008
2017 $24,979,190,000 $71,653,780,740
2016 $24,191,430,000 $66,053,408,206
2015 $23,438,240,000 $62,186,066,548
2014 $22,593,470,000 $57,852,159,008
2013 $21,990,960,000 $52,996,420,177
2012 $21,386,150,000 $49,593,929,487
2011 $20,283,780,000 $46,876,006,272
2010 $18,447,920,000 $40,676,578,423
2009 $17,601,620,000 $37,126,148,265
2008 $17,986,890,000 $38,503,720,224
2007 $17,011,750,000 $33,567,850,824
2006 $15,999,890,000 $29,744,246,827
2005 $14,698,000,000 $26,783,389,294
2004 $13,724,810,900 $23,577,298,095
2003 $13,243,892,200 $21,576,351,799
2002 $12,664,190,300 $20,444,205,991
2001 $12,282,533,600 $18,405,220,247
2000 $11,784,927,700 $19,288,929,030
1999 $11,284,197,000 $18,318,412,251
1998 $10,936,669,900 $19,395,491,993
1997 $10,221,705,900 $17,790,026,222
1996 $9,586,327,800 $15,674,835,615
1995 $8,921,947,100 $14,655,404,433
1994 $7,679,384,000 $12,983,233,311
1993 $6,680,269,200 $11,400,017,301
1992 $5,813,399,300 $10,440,781,588
1991 $5,252,342,400 $9,406,135,143
1990 $4,817,542,204 $7,650,196,845
1989 $4,372,215,300 $8,410,724,361
1988 $4,189,880,000 $7,841,602,824
1987 $3,958,045,800 $7,084,399,840
1986 $3,771,663,200 $7,231,963,516
1985 $3,800,368,600 $9,721,652,087
1984 $3,661,683,400 $9,470,000,100
1983 $3,506,347,800 $9,050,000,400
1982 $3,399,189,100 $8,716,999,700
1981 $3,437,200,200 $8,607,500,300
1980 $3,573,959,900 $7,878,700,000
1979 $3,463,639,900 $6,902,600,200
1978 $3,127,960,000 $6,070,600,200
1977 $2,941,640,100 $5,480,500,200
1976 $2,328,280,100 $4,365,300,200
1975 $1,884,120,100 $3,645,900,000
1974 $1,665,880,000 $3,161,499,900
1973 $1,442,320,000 $2,569,200,100
1972 $1,263,720,000 $2,101,300,000
1971 $1,186,120,000 $1,984,800,000
1970 $1,132,920,000 $1,904,000,000
1969 $1,049,400,000 $1,715,399,900
1968 $1,009,760,100 $1,610,500,000
1967 $976,200,000 $1,453,500,000
1966 $929,520,000 $1,390,700,000
1965 $877,720,000 $1,331,399,900
1964 - $1,299,099,900
1963 - $1,262,800,000
1962 - $1,143,600,000
1961 - $1,076,699,900
1960 - $1,043,599,900

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

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

GDP per capita in El Salvador vs Guatemala by year

El Salvador
GDP per capita

GDP per capita, PPP
Guatemala
GDP per capita

GDP per capita, PPP
1x
Year Current $
El Salvador Guatemala
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,580 $13,264 $6,150 $14,369
2023 $5,365 $12,680 $5,758 $13,745
2022 $5,075 $11,876 $5,359 $13,014
2021 $4,643 $10,810 $4,913 $11,825
2020 $3,997 $9,393 $4,478 $10,947
2019 $4,320 $9,757 $4,512 $10,756
2018 $4,184 $9,204 $4,353 $9,947
2017 $4,020 $8,965 $4,325 $9,560
2016 $3,901 $8,456 $4,060 $9,201
2015 $3,790 $7,934 $3,894 $8,934
2014 $3,666 $7,504 $3,689 $8,237
2013 $3,582 $7,093 $3,444 $7,700
2012 $3,498 $6,708 $3,287 $7,258
2011 $3,331 $6,594 $3,169 $6,784
2010 $3,040 $6,248 $2,805 $6,510
2009 $2,910 $6,063 $2,612 $6,377
2008 $2,983 $6,175 $2,763 $6,435
2007 $2,831 $5,949 $2,459 $6,238
2006 $2,666 $5,695 $2,225 $5,833
2005 $2,447 $5,292 $2,046 $5,486
2004 $2,286 $4,998 $1,841 $5,263
2003 $2,208 $4,829 $1,723 $5,081
2002 $2,115 $4,672 $1,669 $4,969
2001 $2,058 $4,543 $1,538 $4,822
2000 $1,983 $4,422 $1,649 $4,715
1999 $1,908 $4,298 $1,604 $4,557
1998 $1,860 $4,171 $1,741 $4,437
1997 $1,749 $4,043 $1,638 $4,287
1996 $1,651 $3,880 $1,481 $4,143
1995 $1,548 $3,808 $1,421 $4,055
1994 $1,344 $3,591 $1,293 $3,886
1993 $1,180 $3,390 $1,166 $3,756
1992 $1,041 $3,171 $1,096 $3,626
1991 $956 $2,945 $1,014 $3,473
1990 $892 $2,856 $848 $3,330
1989 $825 - $958 -
1988 $806 - $919 -
1987 $777 - $854 -
1986 $755 - $896 -
1985 $776 - $1,238 -
1984 $763 - $1,241 -
1983 $745 - $1,220 -
1982 $735 - $1,204 -
1981 $752 - $1,216 -
1980 $787 - $1,142 -
1979 $773 - $1,026 -
1978 $712 - $925 -
1977 $684 - $856 -
1976 $553 - $697 -
1975 $457 - $595 -
1974 $413 - $529 -
1973 $366 - $441 -
1972 $329 - $370 -
1971 $316 - $358 -
1970 $309 - $353 -
1969 $293.4 - $326 -
1968 $290.1 - $315 -
1967 $288.4 - $291.9 -
1966 $282.4 - $287.3 -
1965 $274.3 - $283 -
1964 - - $284.2 -
1963 - - $284.4 -
1962 - - $265.2 -
1961 - - $257.2 -
1960 - - $256.8 -

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

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

El Salvador's GDP per capita is $5,580, ranking 116/197, compared to $6,150 in Guatemala, ranking 112/197. Adjusted for purchasing power (GDP per capita PPP), El Salvador ranks 120th at $13,264, while Guatemala ranks 116th at $14,369.

Economic indicators

El Salvador Guatemala
Gross domestic product
$35.4B
2024
$113B
2024
GDP rank
105/197
2024
68/197
2024
GDP growth
2.6%
2023-2024
3.65%
2023-2024
GDP per capita
$5,580
2024
$6,150
2024
GDP per capita rank
116/197
2024
112/197
2024
GDP per capita, PPP
$13,264
2024
$14,369
2024
GDP per capita PPP rank
120/197
2024
116/197
2024
Government debt
$30.9B
2024
$29.8B
2024
Debt-to-GDP ratio
87.5%
2024
26.3%
2024
Government debt per person
$4,883
2024
$1,619
2024
Government debt per person rank
81/185
2024
124/185
2024
Average annual personal income after taxes
$4,768
2026
$4,917
2026
Income share by richest 10%
29.7%
2023
34.1%
2023
Income share by poorest 10%
1.9%
2023
1.6%
2023
Government expenditure, % of GDP
31.4%
2024
13.4%
2024
Consumer prices inflation
0.85%
2023-2024
2.87%
2023-2024
Central bank interest rate n/a
4%
2025
Unemployment rate
2.71%
2024
1.9%
2024
Population
6399793
19049936

Spending and national debt comparison by year

El Salvador
Spending

Debt
Guatemala
Spending

Debt
1x
Year % of GDP
El Salvador Guatemala
Government spending Government debt Government spending Government debt
2024 31.4% 87.5% 13.4% 26.3%
2023 30.5% 85.1% 13.7% 27.2%
2022 28.7% 83.7% 14.3% 29%
2021 31.1% 88% 13.5% 30.6%
2020 32.7% 95.4% 15.6% 31.5%
2019 27.8% 77.9% 13.4% 26.4%
2018 27.6% 77% 13.2% 26.4%
2017 28.1% 77.1% 12.8% 25.1%
2016 27.5% 75.2% 12.6% 24.9%
2015 27.1% 73.5% 12.6% 24.8%
2014 27.6% 71.8% 13.6% 24.7%
2013 28.5% 69.7% 14% 25%
2012 27.4% 70% 14.2% 24.6%
2011 25.3% 65.6% 14.5% 23.8%
2010 25.6% 66.8% 14.5% 24%
2009 26% 65.8% 14.1% 22.8%
2008 24.5% 54.2% 13.3% 19.6%
2007 22.8% 52.2% 13.9% 20.8%
2006 23.4% 52.6% 14.2% 20.9%
2005 22.4% 46.3% 13.2% 20%
2004 21.5% 46.8% 12.9% 20.6%
2003 22.6% 46% 14.4% 19.8%
2002 22.5% 43.8% 13.1% 17.4%
2001 21.7% 37.8% 13.8% 19.1%
2000 21% 29.6% 13.6% 18%
1999 19.7% 28% 14.6% 22%
1998 19.3% 25.7% 13.2% 19%
1997 18.6% 27.8% 11.2% 18.5%
1996 21% 28.5% 9.85% 19.2%
1995 18.6% 28% 9.77% 21%
1994 18.9% 30.5% - -
1993 18.5% 31.9% - -
1992 20.8% 36.4% - -
1991 18.5% 43.3% - -
1990 15.9% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20).

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

In 2024, El Salvador's government spending was $11.1B, accounting for 31.4% of its GDP, while Guatemala spent $15.1B, or 13.4% of GDP.

Debt-to-GDP ratio is 87.5% in El Salvador and 26.3% in Guatemala, ranking 36/185 and 161/185, respectively.

Government deficit by year

Deficit/surplus
El Salvador

Guatemala
1x
Year Deficit/surplus, % of GDP
El Salvador Guatemala
2024 -4.55% -0.96%
2023 -4.69% -1.25%
2022 -2.68% -1.7%
2021 -5.53% -1.16%
2020 -8.18% -4.91%
2019 -3.07% -2.24%
2018 -2.71% -1.88%
2017 -2.53% -1.38%
2016 -3.1% -1.11%
2015 -3.63% -1.47%
2014 -4.02% -1.92%
2013 -4.46% -2.16%
2012 -3.81% -2.42%
2011 -4.47% -2.8%
2010 -4.97% -3.28%
2009 -6.65% -3.12%
2008 -3.8% -1.57%
2007 -2.32% -1.4%
2006 -3.42% -1.88%
2005 -3.47% -1.67%
2004 -2.76% -1.05%
2003 -4.23% -2.47%
2002 -5.5% -1.03%
2001 -4.95% -2%
2000 -3.45% -1.88%
1999 -3.08% -2.96%
1998 -2.94% -2.29%
1997 -1.97% -0.79%
1996 -2.7% 0.04%
1995 -0.18% -0.53%
1994 -0.94% -
1993 -1.42% -
1992 -4.29% -
1991 -2.3% -
1990 -0.61% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/el-salvador/guatemala | 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 Guatemala's deficit of $1.09B, or 0.96% of GDP.

Over the past 30 years, El Salvador recorded a fiscal deficit in 30 of those years, while Guatemala ran a deficit in 29 years. On average, El Salvador posted an annual deficit equal to 3.79% of GDP, compared to deficit of 1.84% of GDP for Guatemala.

Inflation comparison by year

Inflation
El Salvador

Guatemala
1x
Year Consumer prices inflation
El Salvador Guatemala
2024 0.85% 2.87%
2023 4.05% 6.21%
2022 7.2% 6.89%
2021 3.47% 4.26%
2020 -0.37% 3.21%
2019 0.08% 3.7%
2018 1.09% 3.75%
2017 1.01% 4.42%
2016 0.6% 4.45%
2015 -0.73% 2.39%
2014 1.14% 3.42%
2013 0.76% 4.34%
2012 1.73% 3.78%
2011 5.13% 6.21%
2010 1.18% 3.86%
2009 1.06% 1.86%
2008 6.71% 11.4%
2007 4.58% 6.82%
2006 4.04% 6.56%
2005 4.69% 9.11%
2004 4.45% 7.58%
2003 2.12% 5.6%
2002 1.87% 8.13%
2001 3.75% 7.29%
2000 2.27% 5.98%
1999 0.51% 5.21%
1998 2.55% 6.61%
1997 4.49% 9.23%

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

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

Over the past 28 years, El Salvador has recorded an average annual inflation rate of 2.51%, compared with 5.54% in Guatemala. In 2024, inflation was 0.85% in El Salvador and 2.87% in Guatemala.

Top exports between countries

El Salvador
Export category Export value
Processed food, beverages & tobacco $317M
Chemicals & pharma $281M
Textiles & consumer goods $186M
Metals $142M
Raw materials & minerals $129M
Wood & paper products $121M
Animal & marine products $43.1M
Machinery & equipment $41.9M
Raw agricultural goods $30.3M
Miscellaneous $8.19M
Guatemala
Export category Export value
Processed food, beverages & tobacco $476M
Chemicals & pharma $441M
Raw materials & minerals $256M
Textiles & consumer goods $222M
Metals $197M
Raw agricultural goods $130M
Wood & paper products $108M
Machinery & equipment $85M
Animal & marine products $25.3M
Miscellaneous $8.41M

Balance of trade

El Salvador Guatemala
Current account balance
-$633M
2024
$3.27B
2024
Current account balance ranking
110/190
2024
38/190
2024
Current account balance, % of GDP
-1.79%
2024
+2.89%
2024
Goods imports
$15.1B
2024
$29.1B
2024
Goods exports
$5.59B
2024
$13.3B
2024
Service imports
$3.26B
2024
$6.45B
2024
Service exports
$6B
2024
$4.65B
2024
Imports of goods and services, % of GDP
51.9%
2024
31.5%
2024
Exports of goods and services, % of GDP
32.8%
2024
15.9%
2024

Economic freedom indices

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

El Salvador Guatemala
Economic freedom 57.7 63.5
Economic freedom ranking 114/197 79/197
Property rights 42.7 39.1
Government integrity 31.5 25.2
Judicial effectiveness 15.3 26.1
Tax burden 76.8 91.3
Government spending 72.7 94.3
Fiscal health 59.4 95.9
Business freedom 65.7 65.7
Labor freedom 51.6 52.5
Monetary freedom 70.6 77.3
Trade freedom 76.4 74.6
Investment freedom 70 70
Financial freedom 60 50

Economic freedom comparison by year

El Salvador
Guatemala
1x
Year Economic freedom index
El Salvador Guatemala
2026 57.7 63.5
2025 56.6 63.4
2024 54.4 62.4
2023 56 62.7
2022 59.6 63.2
2021 61 64
2020 61.6 64
2019 61.8 62.6
2018 63.2 63.4
2017 64.1 63
2016 65.1 61.8
2015 65.7 60.4
2014 66.2 61.2
2013 66.7 60
2012 68.7 60.9
2011 68.8 61.9
2010 69.9 61
2009 69.8 59.4
2008 68.5 59.8
2007 68.9 60.5
2006 69.6 59.1
2005 71.5 59.5
2004 71.2 59.6
2003 71.5 62.3
2002 73 62.3
2001 73 65.1
2000 76.3 64.3
1999 75.1 66.2
1998 70.2 65.8
1997 70.5 65.7
1996 70.1 63.7
1995 69.1 62

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

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

The Economic Freedom Index for El Salvador is 57.7, ranking 114/197, compared to 63.5 for Guatemala, ranking 79/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

El Salvador Guatemala
Services, % of GDP
61%
2024
61.8%
2024
Industry, % of GDP
22.4%
2024
21.7%
2024
Agriculture, forestry, and fishing, % of GDP
4.38%
2024
9.78%
2024
GNI, Atlas method
$32.5B
2024
$106B
2024
GNI per capita, PPP
$12,420
2024
$14,170
2024
Total reserves including gold
$3.7B
2024
$24.4B
2024
Total reserves ranking
110/177
2024
57/177
2024
Net foreign direct investment
-$636M
2024
-$983M
2024
Net inflows of foreign direct investment
$924M
2024
$1.85B
2024
Net outflows of foreign direct investment
$288M
2024
$865M
2024
Servicing debt to the IMF, % of GNI
35%
2024
1.75%
2024
Poverty at national poverty lines
27.2%
2023
56%
2023
Gross capital formation, % of GDP
20.3%
2024
16.7%
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/guatemala | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1999, retrieved 2026-02-20)
  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.