A. M. 
El Salvador’s Economic Activity Volume Index (IVAE) registered monthly growth of 0.15% in december 2025 compared to november, rising from 130.3 to 130.5 points in its seasonally adjusted series, according to the Banco Central de Reserva (BCR).The result reflects moderate growth in productive activity at the end of the year.
The IVAE is an indicator that measures the performance of the economy in real terms, i.e., adjusted to eliminate seasonal effects and variations typical of certain times of the year. This allows for a more accurate observation of genuine monthly changes in national production.
Sectors that drove growth
The main driver of the monthly result was the construction sector, which rose from 191.7 to 195.5 points, representing an increase of 1.9%. This performance suggests greater dynamism in infrastructure and building projects, activities that tend to generate employment and productive linkages.
Industrial production also showed progress, rising from 107.6 to 108.4 points (+0.7%), reflecting increased manufacturing activity. Similarly, the agricultural sector grew from 101.6 to 102.4 points (+0.8%), contributing to the overall result despite seasonal adjustments applied to the indicator.
Other areas such as communications (from 139.1 to 139.3 points) and professional services (from 148.7 to 149.1) recorded slight increases, showing stability in their performance.
Sectors with declines
In contrast, some economic activities declined during the month. Trade and transportation fell from 134.3 to 133.4 points (-0.7%), which could reflect a moderation in consumption or in the movement of goods.
Similarly, the finance and insurance sector fell from 186.1 to 184.8 points (0.7%), suggesting a slight slowdown in activities related to credit and financial services.
Balance at the end of 2025
The monthly growth of 0.15% confirms a gradual expansion trend observed throughout 2025, a year in which the index started at 126.6 points in January and closed at 130.5 in december. Although december’s progress is moderate, it shows that the economy maintained a positive pace at the end of the year.
The performance of sectors such as construction and industry offset declines in trade and financial services, resulting in a favorable overall balance. However, developments in the coming months will be key to determining whether the dynamism in productive investment will sustain growth and strengthen areas more closely linked to consumption and credit.
The figures for the last months of 2025 are estimates and may be revised later, but the preliminary data confirms a positive annual closing for the country’s economic activity.
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