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Economy of El Salvador vs Malaysia compared: GDP & Debt

Updated on by Georank team

El Salvador has a GDP of $35.4B compared to $422B for Malaysia, ranking 105/197 and 39/197 by economy size, respectively.

El Salvador has $31B in government debt (87.9% of GDP), compared to $297B (70.1% of GDP) in Malaysia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

El Salvador
GDP, current $

GDP, constant 2015 $
Malaysia
GDP, current $

GDP, constant 2015 $
Year GDP
El Salvador Malaysia
Current $ Constant $ Current $ Constant $
1960 - - $1,916,229,477 $10,075,053,650
1961 - - $1,901,856,123 $10,840,555,622
1962 - - $2,001,489,602 $11,536,630,908
1963 - - $2,510,110,348 $12,383,281,584
1964 - - $2,674,423,922 $13,046,897,051
1965 $877,720,000 $8,436,981,024 $2,956,337,669 $14,049,533,277
1966 $929,520,000 $9,041,164,856 $3,143,517,944 $15,147,744,694
1967 $976,200,000 $9,532,719,324 $3,188,924,677 $15,732,015,397
1968 $1,009,760,100 $9,841,264,124 $3,330,371,551 $16,987,114,742
1969 $1,049,400,000 $10,184,273,395 $3,664,552,041 $17,817,535,563
1970 $1,132,920,000 $10,487,489,268 $3,864,145,667 $18,884,189,212
1971 $1,186,120,000 $10,892,123,610 $4,244,395,956 $20,779,153,503
1972 $1,263,720,000 $11,558,452,941 $5,043,347,250 $22,729,992,899
1973 $1,442,320,000 $12,120,387,185 $7,662,902,678 $25,389,647,919
1974 $1,665,880,000 $12,767,131,180 $9,496,204,302 $27,501,726,906
1975 $1,884,120,100 $13,140,382,331 $9,298,800,799 $27,722,034,465
1976 $2,328,280,100 $13,803,874,423 $11,050,234,599 $30,927,669,086
1977 $2,941,640,100 $14,739,785,630 $13,139,488,633 $33,325,509,326
1978 $3,127,960,000 $15,524,349,903 $16,358,079,862 $35,542,952,797
1979 $3,463,639,900 $14,875,390,870 $21,213,264,962 $38,865,898,972
1980 $3,573,959,900 $12,519,595,405 $24,488,224,677 $41,758,231,850
1981 $3,437,200,200 $11,803,350,547 $25,004,285,792 $44,657,131,817
1982 $3,399,189,100 $11,058,739,557 $26,804,493,635 $47,311,173,245
1983 $3,506,347,800 $11,228,936,354 $30,347,442,111 $50,269,176,995
1984 $3,661,683,400 $11,378,871,629 $33,942,897,422 $54,170,965,010
1985 $3,800,368,600 $11,448,773,885 $31,199,633,353 $53,615,577,054
1986 $3,771,663,200 $11,471,061,561 $27,734,111,400 $54,280,729,183
1987 $3,958,045,800 $11,758,775,195 $32,181,210,158 $57,098,947,793
1988 $4,189,880,000 $11,979,625,802 $35,272,109,220 $62,773,281,162
1989 $4,372,215,300 $12,095,116,486 $38,847,965,293 $68,460,289,887
1990 $4,817,542,204 $12,679,661,441 $44,024,585,240 $74,627,553,680
1991 $5,252,342,400 $12,869,106,686 $49,143,148,094 $81,751,102,498
1992 $5,813,399,300 $13,772,770,637 $59,167,550,163 $89,014,784,404
1993 $6,680,269,200 $14,574,113,893 $66,894,966,969 $97,822,746,879
1994 $7,679,384,000 $15,257,940,313 $74,478,356,958 $106,834,219,205
1995 $8,921,947,100 $15,980,263,628 $88,705,342,903 $117,335,045,631
1996 $9,586,327,800 $16,109,937,379 $100,855,393,910 $129,071,719,045
1997 $10,221,705,900 $16,615,462,392 $100,005,323,302 $138,523,307,833
1998 $10,936,669,900 $17,056,150,529 $72,167,498,981 $128,328,802,477
1999 $11,284,197,000 $17,424,910,258 $79,148,421,053 $136,205,126,471
2000 $11,784,927,700 $17,621,447,036 $93,789,736,842 $148,271,359,065
2001 $12,282,533,600 $17,776,447,691 $92,783,947,368 $149,038,923,296
2002 $12,664,190,300 $18,056,056,716 $100,845,526,316 $157,073,594,224
2003 $13,243,892,200 $18,338,704,970 $110,202,368,421 $166,165,798,104
2004 $13,724,810,900 $18,501,810,235 $124,749,473,684 $177,437,551,536
2005 $14,698,000,000 $18,997,812,331 $143,534,405,819 $186,898,768,709
2006 $15,999,890,000 $19,821,747,187 $162,692,258,307 $197,336,779,112
2007 $17,011,750,000 $20,187,974,225 $193,549,569,478 $209,766,600,384
2008 $17,986,890,000 $20,622,904,544 $230,811,614,370 $219,902,039,819
2009 $17,601,620,000 $20,188,015,255 $202,257,453,037 $216,573,759,299
2010 $18,447,920,000 $20,622,904,544 $255,017,638,456 $232,654,030,399
2011 $20,283,780,000 $21,401,127,376 $297,951,668,675 $244,970,531,974
2012 $21,386,150,000 $22,019,127,753 $314,443,047,642 $258,378,881,826
2013 $21,990,960,000 $22,499,794,814 $323,276,235,524 $270,506,469,604
2014 $22,593,470,000 $22,888,906,230 $338,066,095,097 $286,755,041,078
2015 $23,438,240,000 $23,438,240,000 $301,355,266,965 $301,355,266,965
2016 $24,191,430,000 $24,033,351,542 $301,256,033,870 $314,764,917,575
2017 $24,979,190,000 $24,573,529,737 $319,109,094,160 $333,061,328,477
2018 $26,020,850,000 $25,166,352,436 $358,788,845,713 $349,191,778,300
2019 $26,881,140,000 $25,779,775,127 $365,177,721,022 $364,602,265,936
2020 $24,921,190,000 $23,744,951,346 $337,456,163,961 $344,706,479,641
2021 $29,043,140,000 $26,571,731,219 $373,784,823,673 $356,134,704,342
2022 $31,870,120,000 $27,356,823,620 $407,605,841,348 $387,694,727,479
2023 $33,853,940,000 $28,325,024,474 $399,705,137,434 $401,479,163,711
2024 $35,364,960,000 $29,062,047,321 $421,972,102,254 $422,011,432,357

Economic indicators

El Salvador Malaysia
Gross domestic product
$35.4B
2024
$422B
2024
GDP rank
105/197
2024
39/197
2024
GDP growth
4.46%
2023-2024
5.57%
2023-2024
GDP per capita
$5,580
2024
$11,867
2024
GDP per capita rank
116/197
2024
81/197
2024
GDP per capita, PPP
$13,264
2024
$38,729
2024
Government debt
$31B
2024
$297B
2024
Debt-to-GDP ratio
87.9%
2025
70.1%
2025
Government debt per person
$4,887
2024
$8,353
2024
Government debt per person rank
80/185
2024
63/185
2024
Average annual personal income after taxes
$4,836
2025
$9,650
2025
Market capitalization of domestic companies n/a
$449B
2024
Number of billionaires n/a
19
2025
Income share by richest 10%
29.7%
2023
30.9%
2021
Income share by poorest 10%
1.9%
2023
2.3%
2021
Government expenditure, % of GDP
30.5%
2025
23.1%
2025
Consumer prices inflation
0.85%
2023-2024
1.83%
2023-2024
Central bank interest rate n/a
2.75%
2025
Unemployment rate
2.99%
2023
3.93%
2022
Population
6386184
36304998

GDP per capita in El Salvador vs Malaysia

El Salvador's GDP per capita is $5,580, ranking 116/197, compared to $11,867 in Malaysia, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), El Salvador ranks 120th at $13,264, while Malaysia ranks 60th at $38,729.

El Salvador
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
Year Current $
El Salvador Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $240.8 -
1961 - - $232.9 -
1962 - - $238.8 -
1963 - - $291.8 -
1964 - - $303 -
1965 $274.3 - $326 -
1966 $282.4 - $339 -
1967 $288.4 - $335 -
1968 $290.1 - $342 -
1969 $293.4 - $368 -
1970 $309 - $380 -
1971 $316 - $407 -
1972 $329 - $472 -
1973 $366 - $701 -
1974 $413 - $848 -
1975 $457 - $811 -
1976 $553 - $940 -
1977 $684 - $1,092 -
1978 $712 - $1,327 -
1979 $773 - $1,680 -
1980 $787 - $1,886 -
1981 $752 - $1,866 -
1982 $735 - $1,938 -
1983 $745 - $2,124 -
1984 $763 - $2,300 -
1985 $776 - $2,046 -
1986 $755 - $1,760 -
1987 $777 - $1,977 -
1988 $806 - $2,100 -
1989 $825 - $2,244 -
1990 $892 $2,856 $2,469 $6,887
1991 $956 $2,945 $2,679 $7,583
1992 $1,041 $3,171 $3,141 $8,224
1993 $1,180 $3,390 $3,462 $9,018
1994 $1,344 $3,591 $3,758 $9,806
1995 $1,548 $3,808 $4,363 $10,720
1996 $1,651 $3,880 $4,837 $11,709
1997 $1,749 $4,043 $4,679 $12,469
1998 $1,860 $4,171 $3,294 $11,398
1999 $1,908 $4,298 $3,528 $11,980
2000 $1,983 $4,422 $4,084 $13,027
2001 $2,058 $4,543 $3,944 $13,072
2002 $2,115 $4,672 $4,184 $13,656
2003 $2,208 $4,829 $4,465 $14,387
2004 $2,286 $4,998 $4,939 $15,416
2005 $2,447 $5,292 $5,556 $16,371
2006 $2,666 $5,695 $6,158 $17,426
2007 $2,831 $5,949 $7,169 $18,617
2008 $2,983 $6,175 $8,372 $19,480
2009 $2,910 $6,063 $7,191 $18,923
2010 $3,040 $6,248 $8,899 $20,193
2011 $3,331 $6,594 $10,217 $21,324
2012 $3,498 $6,708 $10,601 $22,639
2013 $3,582 $7,093 $10,714 $23,161
2014 $3,666 $7,504 $11,013 $24,307
2015 $3,790 $7,934 $9,649 $24,526
2016 $3,901 $8,456 $9,477 $25,286
2017 $4,020 $8,965 $9,863 $26,416
2018 $4,184 $9,204 $10,902 $27,794
2019 $4,320 $9,757 $10,920 $28,934
2020 $3,997 $9,393 $9,958 $27,475
2021 $4,643 $10,810 $10,903 $29,823
2022 $5,075 $11,876 $11,748 $34,366
2023 $5,365 $12,680 $11,379 $36,417
2024 $5,580 $13,264 $11,867 $38,729

Spending and national debt comparison

In 2024, El Salvador's government spending was $11.1B, accounting for 30.5% of its GDP, while Malaysia's spent $101B, or 23.1% of GDP.

Debt-to-GDP ratio is 87.9% in El Salvador and 70.1% in Malaysia, ranking 35/185 and 55/185, respectively.

El Salvador
Government spending

Government debt
Malaysia
Government spending

Government debt
Year % of GDP
El Salvador Malaysia
Government spending Government debt Government spending Government debt
1990 15.9% - 30.5% 74.1%
1991 18.5% 43.3% 27.4% 67.3%
1992 20.8% 36.4% 28.2% 59.1%
1993 18.5% 31.9% 24.6% 51.1%
1994 18.9% 30.5% 23.3% 43.7%
1995 18.6% 28% 22.6% 38.2%
1996 21% 28.5% 22.4% 32.8%
1997 18.6% 27.8% 21.2% 29.6%
1998 19.3% 25.7% 23.1% 33.6%
1999 19.7% 28% 24.6% 34.4%
2000 21% 29.6% 25.6% 32.5%
2001 21.7% 37.8% 28.2% 38.1%
2002 22.5% 43.8% 27.1% 39.5%
2003 22.6% 46% 28.1% 41.4%
2004 21.5% 46.8% 25.9% 42%
2005 22.4% 46.3% 24.5% 40.8%
2006 23.4% 52.6% 25.6% 39.7%
2007 22.8% 52.2% 25.9% 39.3%
2008 24.5% 54.2% 26.9% 39.4%
2009 26% 65.8% 30.9% 50.4%
2010 25.6% 66.8% 26.6% 51.2%
2011 25.3% 65.6% 27.1% 51.9%
2012 27.4% 70% 28.5% 53.8%
2013 28.5% 69.7% 27.8% 55.7%
2014 27.6% 71.8% 26% 55.4%
2015 27.1% 73.5% 24.7% 57%
2016 27.5% 75.2% 22.9% 55.8%
2017 28.1% 77.1% 22% 54.4%
2018 27.6% 77% 22.8% 55.6%
2019 27.8% 77.9% 23.6% 57.1%
2020 32.7% 95.4% 25% 67.7%
2021 31.1% 88% 24.5% 69.2%
2022 28.6% 83.3% 24.7% 65.5%
2023 30.4% 84.7% 24.9% 69.7%
2024 31.4% 87.6% 23.9% 70.4%
2025 30.5% 87.9% 23.1% 70.1%

Government deficit by year

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 Malaysia's deficit of -$16.7B, or -3.95% of GDP.

Over the past 35 years, El Salvador recorded a fiscal deficit in 35 of those years, while Malaysia ran a deficit in 27 years. On average, El Salvador posted an annual deficit equal to -3.52% of GDP, compared to deficit of -2.07% of GDP for Malaysia.

Deficit/surplus
El Salvador

Malaysia
Year Deficit/surplus, % of GDP
El Salvador Malaysia
1990 -0.61% 0.15%
1991 -2.3% 1.6%
1992 -4.29% 1.81%
1993 -1.42% 3.44%
1994 -0.94% 5.45%
1995 -0.18% 3.1%
1996 -2.7% 3.27%
1997 -1.97% 4.84%
1998 -2.94% -0.63%
1999 -3.08% -3%
2000 -3.45% -6.05%
2001 -4.95% -4.36%
2002 -5.5% -3.96%
2003 -4.23% -4.6%
2004 -2.76% -3.35%
2005 -3.47% -2.83%
2006 -3.42% -2.6%
2007 -2.32% -2.57%
2008 -3.8% -3.4%
2009 -6.65% -5.88%
2010 -4.97% -4.32%
2011 -4.47% -3.57%
2012 -3.81% -3.1%
2013 -4.46% -3.48%
2014 -4.02% -2.63%
2015 -3.63% -2.55%
2016 -3.1% -2.6%
2017 -2.53% -2.41%
2018 -2.71% -2.64%
2019 -3.07% -2.01%
2020 -8.18% -4.9%
2021 -5.53% -6.03%
2022 -2.67% -4.56%
2023 -4.66% -3.97%
2024 -4.55% -3.95%
2025 -3.38% -3.36%

Inflation comparison by year

Over the past 29 years, El Salvador has recorded an average annual inflation rate of 2.76%, compared with 2.29% in Malaysia. In 2024, inflation was 0.85% in El Salvador and 1.83% in Malaysia.

Inflation
El Salvador

Malaysia
Year Inflation
El Salvador Malaysia El Salvador Malaysia
1996 9.79% 3.49%
1997 4.49% 2.66%
1998 2.55% 5.27%
1999 0.51% 2.74%
2000 2.27% 1.53%
2001 3.75% 1.42%
2002 1.87% 1.81%
2003 2.12% 1.09%
2004 4.45% 1.42%
2005 4.69% 2.98%
2006 4.04% 3.61%
2007 4.58% 2.03%
2008 6.71% 5.44%
2009 1.06% 0.58%
2010 1.18% 1.62%
2011 5.13% 3.17%
2012 1.73% 1.66%
2013 0.76% 2.11%
2014 1.14% 3.14%
2015 -0.73% 2.1%
2016 0.6% 2.09%
2017 1.01% 3.87%
2018 1.09% 0.88%
2019 0.08% 0.66%
2020 -0.37% -1.14%
2021 3.47% 2.48%
2022 7.2% 3.38%
2023 4.05% 2.49%
2024 0.85% 1.83%

Top exports between countries

El Salvador
Export category Export value
Metals $1.6M
Machinery & equipment $1.28M
Raw agricultural goods $1.14M
Raw materials & minerals $266K
Textiles & consumer goods $249K
Wood & paper products $109K
Chemicals & pharma $39K
Animal & marine products $10K
Malaysia
Export category Export value
Machinery & equipment $5.22M
Raw materials & minerals $5.13M
Textiles & consumer goods $2.92M
Chemicals & pharma $2.76M
Miscellaneous $1.4M
Processed food, beverages & tobacco $500K
Precious metals & jewellery $260K
Animal & marine products $75K
Metals $8K
Wood & paper products $7K

Balance of trade

El Salvador Malaysia
Current account balance
-$633M
2024
$7.15B
2024
Current account balance ranking
108/189
2024
25/189
2024
Current account balance, % of GDP
-1.79%
2024
+1.69%
2024
Goods imports
$15.1B
2024
$223B
2024
Goods exports
$5.59B
2024
$248B
2024
Service imports
$3.26B
2024
$56.4B
2024
Service exports
$6B
2024
$53.4B
2024
Imports of goods and services, % of GDP
51.9%
2024
66%
2024
Exports of goods and services, % of GDP
32.8%
2024
71.4%
2024

Economic freedom indices

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

El Salvador Malaysia
Economic freedom 56.6 67.1
Economic freedom ranking 117/197 50/197
Property rights 43.2 66.3
Government integrity 30.9 51.1
Judicial effectiveness 14.6 66.2
Tax burden 78.2 83.9
Government spending 72.2 82.1
Fiscal health 56.1 48.1
Business freedom 62.7 76.6
Labor freedom 54.9 58.1
Monetary freedom 66.2 79.6
Trade freedom 70.4 83.4
Investment freedom 70 60
Financial freedom 60 50

Economic freedom by year comparison

The Economic Freedom Index for El Salvador is 56.6, ranking 117/197, compared to 67.1 for Malaysia, ranking 50/197. The chart below displays a comparison of annual changes in economic freedom indexes.

El Salvador
Malaysia
Year Economic freedom index
El Salvador Malaysia
1995 69.1 71.9
1996 70.1 69.9
1997 70.5 66.8
1998 70.2 68.2
1999 75.1 68.9
2000 76.3 66
2001 73 60.2
2002 73 60.1
2003 71.5 61.1
2004 71.2 59.9
2005 71.5 61.9
2006 69.6 61.6
2007 68.9 63.8
2008 68.5 63.9
2009 69.8 64.6
2010 69.9 64.8
2011 68.8 66.3
2012 68.7 66.4
2013 66.7 66.1
2014 66.2 69.6
2015 65.7 70.8
2016 65.1 71.5
2017 64.1 73.8
2018 63.2 74.5
2019 61.8 74
2020 61.6 74.7
2021 61 74.4
2022 59.6 68.1
2023 56 67.3
2024 54.4 65.7
2025 56.6 67.1

More economic indicators

El Salvador Malaysia
Services, % of GDP
61%
2024
53.6%
2024
Industry, % of GDP
22.4%
2024
37.1%
2024
Agriculture, forestry, and fishing, % of GDP
4.38%
2024
8.16%
2024
GNI, Atlas method
$32.5B
2024
$415B
2024
GNI per capita, PPP
$12,420
2024
$37,500
2024
Total reserves including gold
$3.7B
2024
$116B
2024
Total reserves ranking
110/177
2024
24/177
2024
Net foreign direct investment
-$636M
2024
-$2.55B
2024
Net inflows of foreign direct investment
$924M
2024
$15.6B
2024
Net outflows of foreign direct investment
$288M
2024
$13B
2024
Servicing debt to the IMF, % of GNI
29%
2023
n/a
Poverty at national poverty lines
27.2%
2023
5.8%
2023
Gross capital formation, % of GDP
20.3%
2024
21.9%
2024

GDP per capita map

GDP per capita

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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.