El Salvador Tenders

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Capital San Salvador
ISO 3166 Code SV
Population 6,401,240
Area, Sq KM 21,040
Currency United States Dollar
Official Language Spanish
GDP, Billion USD 23,787
GDP Growth Rate, % 1.7
Inflation, Avg CP, % Chng 4.28
Interest Rates, % N/A
Unemployement Rate, % 5.74
Exchange Rate, 1 USD Equals 1.0
International dial code 503
Time Zone GMT-06:00
Internet TLD .sv

El Salvador is officially known as the Republic of El Salvador, This country is the most densely populated and smallest country in Central America. San Salvador is the capital as well as the largest city of El Salvador's. El Salvador’s population was estimated to be approximately 6.29 million in the year 2013 which has made the country the most densely populated country in the region. Mestizos of European and Indigenous American descent comprises of the population of the country, mostly. As of 2010, in terms of the Human Development Index, the country was ranked 12th among Latin American countries and fourth in Central America. An ingoing rapid industrialization can also be seen in the country. However the country still struggle with numerous problems such as crime, inequality and high rates of poverty. The Spanish Empire conquered the territory of the country and incorporated it into the colony of New Spain. When in 1841, the republic dissolved, El Salvador became sovereign between the periods 1895 to 1898. Till the mid-20th century and from the late 19th century, the country underwent chronic economic and political instability. Persistent socioeconomic inequality and civil unrest led to Salvadoran Civil War. The conflict was put to an end with a negotiated settlement which established a multiparty constitutional republic and remained in place till this date. The economy of this country was historically dominated by agriculture. The indigo plant was the most important crop during the colonial period followed by coffee, which in the early 20th century accounted for 90 percent of export earnings. However the country has reduced its dependence on coffee and is set on diversifying the economy by opening up financial links and trade along with expanding the manufacturing sector. Since 1892, the colon is the official currency of El Salvador but it was in the year 2001by the U.S. dollar. The economy is often hampered by natural calamities like earthquake or hurricanes. GDP in PPP as of the year 2008 was estimated to be at 25.895 billion US dollars. The service sector at 64.1%, is considered to be the largest component of GDP which is followed by the industrial sector at 24.7% and 11.2% of GDP for agriculture as of 2010. Since the year 1996, GDP grew at an annual rate that averaged 3.2% real growth. The government of El Salvador committed to free market initiatives which lead to the increase of GDP's real growth rate at 4.7 percent in the year 2007.

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