The colón was the official currency of El Salvador from 1892 to 2001, when it adopted the U.S. Dollar.
In 2010 El Salvador ranked twelfth among Latin American countries in terms of the Human Development Index and fourth in Central America, due in part to ongoing rapid industrialization.
The indigo plant, which yielded a rich blue dye, was El Salvador's most important crop during the colonial period; its place was taken by coffee in the second half of the 19th century. Between 1871 and 1927 coffee production so dominated the country's economy that it was known as the Coffee Republic, and by the early 20th century, coffee accounted for 90 percent of the country's export earnings. Its importance to the economy began to decline after the Great Depression; by 1987 it was responsible for half of export earnings, and by 2004 coffee production accounted for only 7 percent.
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