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Economy of El Salvador vs Morocco compared: GDP & Debt

Updated on by Georank team

El Salvador has a GDP of $35.4B compared to $161B for Morocco, ranking 105/197 and 58/197 by economy size, respectively.

El Salvador has $30.9B in government debt (87.5% of GDP), compared to $109B (67.7% of GDP) in Morocco.

El Salvador vs Morocco GDP by year

El Salvador
Morocco
1x
Year GDP, current $
El Salvador Morocco
2024 $35,364,960,000 $160,610,994,055
2023 $33,853,940,000 $146,036,093,667
2022 $31,870,120,000 $131,245,312,804
2021 $29,043,140,000 $142,022,058,447
2020 $24,921,190,000 $121,353,645,057
2019 $26,881,140,000 $128,920,266,409
2018 $26,020,850,000 $127,341,147,582
2017 $24,979,190,000 $118,540,573,368
2016 $24,191,430,000 $111,572,947,005
2015 $23,438,240,000 $110,413,823,842
2014 $22,593,470,000 $119,130,841,412
2013 $21,990,960,000 $115,739,287,305
2012 $21,386,150,000 $106,937,392,311
2011 $20,283,780,000 $110,080,631,332
2010 $18,447,920,000 $100,865,329,473
2009 $17,601,620,000 $101,154,952,241
2008 $17,986,890,000 $101,822,906,949
2007 $17,011,750,000 $86,947,913,287
2006 $15,999,890,000 $75,883,823,301
2005 $14,698,000,000 $68,852,658,069
2004 $13,724,810,900 $66,114,145,451
2003 $13,243,892,200 $58,029,363,354
2002 $12,664,190,300 $47,077,192,188
2001 $12,282,533,600 $43,831,480,208
2000 $11,784,927,700 $43,017,455,402
1999 $11,284,197,000 $46,266,428,648
1998 $10,936,669,900 $46,497,608,725
1997 $10,221,705,900 $39,147,844,526
1996 $9,586,327,800 $43,161,571,528
1995 $8,921,947,100 $39,030,285,468
1994 $7,679,384,000 $35,604,137,423
1993 $6,680,269,200 $31,655,473,664
1992 $5,813,399,300 $33,711,069,431
1991 $5,252,342,400 $32,285,573,574
1990 $4,817,542,204 $30,179,954,775
1989 $4,372,215,300 $26,314,313,191
1988 $4,189,880,000 $25,705,296,184
1987 $3,958,045,800 $21,765,195,948
1986 $3,771,663,200 $19,462,085,540
1985 $3,800,368,600 $14,991,283,216
1984 $3,661,683,400 $14,824,667,954
1983 $3,506,347,800 $16,251,408,128
1982 $3,399,189,100 $17,692,276,734
1981 $3,437,200,200 $17,788,185,479
1980 $3,573,959,900 $21,728,516,153
1979 $3,463,639,900 $15,911,994,817
1978 $3,127,960,000 $13,236,946,234
1977 $2,941,640,100 $11,049,783,872
1976 $2,328,280,100 $9,584,297,284
1975 $1,884,120,100 $8,984,853,005
1974 $1,665,880,000 $7,675,466,449
1973 $1,442,320,000 $6,242,145,880
1972 $1,263,720,000 $5,074,117,545
1971 $1,186,120,000 $4,356,669,034
1970 $1,132,920,000 $3,956,336,244
1969 $1,049,400,000 $3,651,622,669
1968 $1,009,760,100 $3,271,422,333
1967 $976,200,000 $3,046,345,314
1966 $929,520,000 $2,876,401,297
1965 $877,720,000 $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

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

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

GDP per capita in El Salvador vs Morocco by year

El Salvador
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
El Salvador Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,580 $13,264 $4,218 $10,415
2023 $5,365 $12,680 $3,872 $9,895
2022 $5,075 $11,876 $3,516 $9,310
2021 $4,643 $10,810 $3,843 $8,623
2020 $3,997 $9,393 $3,317 $7,705
2019 $4,320 $9,757 $3,560 $8,046
2018 $4,184 $9,204 $3,553 $7,801
2017 $4,020 $8,965 $3,344 $8,115
2016 $3,901 $8,456 $3,186 $7,853
2015 $3,790 $7,934 $3,190 $7,799
2014 $3,666 $7,504 $3,483 $7,237
2013 $3,582 $7,093 $3,425 $7,542
2012 $3,498 $6,708 $3,206 $7,308
2011 $3,331 $6,594 $3,345 $7,274
2010 $3,040 $6,248 $3,107 $6,849
2009 $2,910 $6,063 $3,158 $6,629
2008 $2,983 $6,175 $3,222 $6,437
2007 $2,831 $5,949 $2,788 $6,058
2006 $2,666 $5,695 $2,466 $5,781
2005 $2,447 $5,292 $2,268 $5,275
2004 $2,286 $4,998 $2,207 $5,025
2003 $2,208 $4,829 $1,962 $4,741
2002 $2,115 $4,672 $1,612 $4,436
2001 $2,058 $4,543 $1,521 $4,269
2000 $1,983 $4,422 $1,513 $3,930
1999 $1,908 $4,298 $1,651 $3,801
1998 $1,860 $4,171 $1,683 $3,740
1997 $1,749 $4,043 $1,439 $3,502
1996 $1,651 $3,880 $1,610 $3,551
1995 $1,548 $3,808 $1,478 $3,152
1994 $1,344 $3,591 $1,369 $3,315
1993 $1,180 $3,390 $1,236 $2,979
1992 $1,041 $3,171 $1,337 $2,979
1991 $956 $2,945 $1,302 $3,025
1990 $892 $2,856 $1,238 $2,777
1989 $825 - $1,099 -
1988 $806 - $1,094 -
1987 $777 - $944 -
1986 $755 - $861 -
1985 $776 - $678 -
1984 $763 - $687 -
1983 $745 - $772 -
1982 $735 - $862 -
1981 $752 - $890 -
1980 $787 - $1,117 -
1979 $773 - $839 -
1978 $712 - $716 -
1977 $684 - $613 -
1976 $553 - $545 -
1975 $457 - $524 -
1974 $413 - $459 -
1973 $366 - $382 -
1972 $329 - $319 -
1971 $316 - $280.6 -
1970 $309 - $261.5 -
1969 $293.4 - $247.8 -
1968 $290.1 - $228 -
1967 $288.4 - $218.1 -
1966 $282.4 - $211.5 -
1965 $274.3 - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

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

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

El Salvador's GDP per capita is $5,580, ranking 116/197, compared to $4,218 in Morocco, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), El Salvador ranks 120th at $13,264, while Morocco ranks 132nd at $10,415.

Economic indicators

El Salvador Morocco
Gross domestic product
$35.4B
2024
$161B
2024
GDP rank
105/197
2024
58/197
2024
GDP growth
2.6%
2023-2024
3.79%
2023-2024
GDP per capita
$5,580
2024
$4,218
2024
GDP per capita rank
116/197
2024
127/197
2024
GDP per capita, PPP
$13,264
2024
$10,415
2024
GDP per capita PPP rank
120/197
2024
132/197
2024
Government debt
$30.9B
2024
$109B
2024
Debt-to-GDP ratio
87.5%
2024
67.7%
2024
Government debt per person
$4,883
2024
$2,857
2024
Government debt per person rank
81/185
2024
104/185
2024
Average annual personal income after taxes
$4,768
2026
$5,678
2026
Market capitalization of domestic companies n/a
$74.5B
2024
Number of billionaires n/a
3
2025
Income share by richest 10%
29.7%
2023
31.9%
2013
Income share by poorest 10%
1.9%
2023
2.7%
2013
Government expenditure, % of GDP
31.4%
2024
33%
2024
Consumer prices inflation
0.85%
2023-2024
0.99%
2023-2024
Central bank interest rate n/a
2.25%
2025
Unemployment rate
2.71%
2024
11.8%
2022
Population
6399793
38871720

Spending and national debt comparison by year

El Salvador
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
El Salvador Morocco
Government spending Government debt Government spending Government debt
2024 31.4% 87.5% 33% 67.7%
2023 30.5% 85.1% 32% 68.7%
2022 28.7% 83.7% 33.7% 71.4%
2021 31.1% 88% 31% 69.4%
2020 32.7% 95.4% 34.1% 72.2%
2019 27.8% 77.9% 27.6% 60.3%
2018 27.6% 77% 27.8% 60.5%
2017 28.1% 77.1% 27.9% 60.3%
2016 27.5% 75.2% 28.6% 60.1%
2015 27.1% 73.5% 28.5% 58.4%
2014 27.6% 71.8% 30.7% 58.6%
2013 28.5% 69.7% 30.4% 57.1%
2012 27.4% 70% 32.5% 52.3%
2011 25.3% 65.6% 31.2% 48.6%
2010 25.6% 66.8% 28.7% 45.3%
2009 26% 65.8% 28.1% 42.6%
2008 24.5% 54.2% 28.3% 42%
2007 22.8% 52.2% 26.4% 47.1%
2006 23.4% 52.6% 26% 50.6%
2005 22.4% 46.3% 28.6% 54.8%
2004 21.5% 46.8% 24.5% 54.4%
2003 22.6% 46% 24.1% 56.9%
2002 22.5% 43.8% 25.8% 59.4%
2001 21.7% 37.8% 23.7% 60.4%
2000 21% 29.6% 22.8% 64.9%
1999 19.7% 28% 18.4% 63.4%
1998 19.3% 25.7% 18.7% 64.5%
1997 18.6% 27.8% 18.6% 68%
1996 21% 28.5% 17.6% 65.3%
1995 18.6% 28% 21.3% 72.2%
1994 18.9% 30.5% 21.7% 69.3%
1993 18.5% 31.9% 23.1% 74.7%
1992 20.8% 36.4% 22.3% 67%
1991 18.5% 43.3% 20.8% 59.1%
1990 15.9% - 22.6% 70.5%

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

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

In 2024, El Salvador's government spending was $11.1B, accounting for 31.4% of its GDP, while Morocco spent $53.1B, or 33% of GDP.

Debt-to-GDP ratio is 87.5% in El Salvador and 67.7% in Morocco, ranking 36/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
El Salvador

Morocco
1x
Year Deficit/surplus, % of GDP
El Salvador Morocco
2024 -4.55% -3.92%
2023 -4.69% -4.41%
2022 -2.68% -5.37%
2021 -5.53% -5.92%
2020 -8.18% -7.15%
2019 -3.07% -3.8%
2018 -2.71% -3.52%
2017 -2.53% -3.3%
2016 -3.1% -4.49%
2015 -3.63% -4.59%
2014 -4.02% -4.78%
2013 -4.46% -4.7%
2012 -3.81% -6.63%
2011 -4.47% -6.08%
2010 -4.97% -3.93%
2009 -6.65% -1.63%
2008 -3.8% 0.63%
2007 -2.32% -0.12%
2006 -3.42% -1.8%
2005 -3.47% -5.46%
2004 -2.76% -3.31%
2003 -4.23% -3.74%
2002 -5.5% -4.37%
2001 -4.95% -3.79%
2000 -3.45% -1.97%
1999 -3.08% 3.21%
1998 -2.94% 1.47%
1997 -1.97% 1.5%
1996 -2.7% 0.87%
1995 -0.18% -2.54%
1994 -0.94% -2.51%
1993 -1.42% -2%
1992 -4.29% -1.84%
1991 -2.3% -0.9%
1990 -0.61% -1.32%

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

GeoRank.org/economy/el-salvador/morocco | 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 Morocco's deficit of $6.3B, or 3.92% of GDP.

Over the past 35 years, El Salvador recorded a fiscal deficit in 35 of those years, while Morocco ran a deficit in 30 years. On average, El Salvador posted an annual deficit equal to 3.52% of GDP, compared to deficit of 2.92% of GDP for Morocco.

Inflation comparison by year

Inflation
El Salvador

Morocco
1x
Year Consumer prices inflation
El Salvador Morocco
2024 0.85% 0.99%
2023 4.05% 6.09%
2022 7.2% 6.66%
2021 3.47% 1.4%
2020 -0.37% 0.71%
2019 0.08% 0.3%
2018 1.09% 1.8%
2017 1.01% 0.75%
2016 0.6% 1.64%
2015 -0.73% 1.56%
2014 1.14% 0.44%
2013 0.76% 1.88%
2012 1.73% 1.29%
2011 5.13% 0.91%
2010 1.18% 0.99%
2009 1.06% 0.97%
2008 6.71% 3.71%
2007 4.58% 2.04%
2006 4.04% 3.28%
2005 4.69% 0.98%
2004 4.45% 1.49%
2003 2.12% 1.17%
2002 1.87% 2.8%
2001 3.75% 0.62%
2000 2.27% 1.89%
1999 0.51% 0.68%
1998 2.55% 2.75%
1997 4.49% 1.04%

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

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

Over the past 28 years, El Salvador has recorded an average annual inflation rate of 2.51%, compared with 1.82% in Morocco. In 2024, inflation was 0.85% in El Salvador and 0.99% in Morocco.

Top exports between countries

El Salvador
Export category Export value
Machinery & equipment $223K
Chemicals & pharma $141K
Textiles & consumer goods $40K
Wood & paper products $28K
Morocco
Export category Export value
Raw materials & minerals $1.23M
Processed food, beverages & tobacco $445K
Raw agricultural goods $76K
Chemicals & pharma $5K
Textiles & consumer goods $1K

Balance of trade

El Salvador Morocco
Current account balance
-$633M
2024
-$1.87B
2024
Current account balance ranking
110/190
2024
141/190
2024
Current account balance, % of GDP
-1.79%
2024
-1.16%
2024
Goods imports
$15.1B
2024
$66.5B
2024
Goods exports
$5.59B
2024
$39.3B
2024
Service imports
$3.26B
2024
$14.3B
2024
Service exports
$6B
2024
$28.2B
2024
Imports of goods and services, % of GDP
51.9%
2024
50.2%
2024
Exports of goods and services, % of GDP
32.8%
2024
42%
2024

Economic freedom indices

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

El Salvador Morocco
Economic freedom 57.7 61.8
Economic freedom ranking 114/197 91/197
Property rights 42.7 55.2
Government integrity 31.5 35.6
Judicial effectiveness 15.3 32.5
Tax burden 76.8 65.5
Government spending 72.7 67.5
Fiscal health 59.4 57.5
Business freedom 65.7 72.1
Labor freedom 51.6 46.2
Monetary freedom 70.6 79.6
Trade freedom 76.4 69.8
Investment freedom 70 80
Financial freedom 60 80

Economic freedom comparison by year

El Salvador
Morocco
1x
Year Economic freedom index
El Salvador Morocco
2026 57.7 61.8
2025 56.6 60.3
2024 54.4 56.8
2023 56 58.4
2022 59.6 59.2
2021 61 63.3
2020 61.6 63.3
2019 61.8 62.9
2018 63.2 61.9
2017 64.1 61.5
2016 65.1 61.3
2015 65.7 60.1
2014 66.2 58.3
2013 66.7 59.6
2012 68.7 60.2
2011 68.8 59.6
2010 69.9 59.2
2009 69.8 57.7
2008 68.5 55.6
2007 68.9 56.4
2006 69.6 51.5
2005 71.5 52.2
2004 71.2 56.7
2003 71.5 57.8
2002 73 59
2001 73 63.9
2000 76.3 63.2
1999 75.1 63.8
1998 70.2 61.1
1997 70.5 64.7
1996 70.1 64.3
1995 69.1 62.8

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

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

The Economic Freedom Index for El Salvador is 57.7, ranking 114/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

El Salvador Morocco
Services, % of GDP
61%
2024
52.7%
2024
Industry, % of GDP
22.4%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
4.38%
2024
10.6%
2024
GNI, Atlas method
$32.5B
2024
$149B
2024
GNI per capita, PPP
$12,420
2024
$10,260
2024
Total reserves including gold
$3.7B
2024
$37.1B
2024
Total reserves ranking
110/177
2024
52/177
2024
Net foreign direct investment
-$636M
2024
-$948M
2024
Net inflows of foreign direct investment
$924M
2024
$1.64B
2024
Net outflows of foreign direct investment
$288M
2024
$691M
2024
Servicing debt to the IMF, % of GNI
35%
2024
5.63%
2024
Poverty at national poverty lines
27.2%
2023
3.9%
2022
Gross capital formation, % of GDP
20.3%
2024
30.1%
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/morocco | 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 (2020–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.