She sounds like ds1, @Yuep . When he was nearly 2, I was in hospital with his newborn baby brother, and to wile away the time, I made a list of all the words ds1 could say (even the ones only his loving parents could understand), and it was only 35 words.
Like you, I was worried by this - but roll on a couple of years, and he had really found his voice - his passion was trains, and he could talk for hours on the subject, without hesitation, repetition or deviation.
He went on to study Law - arguably a subject where you need to be good at debating, and which is a difficult, academic subject, got a 2:1 and is working as a quantity surveyor, and doing well.
Long story short - despite being a late talker, he caught up and flourished, so don't worry.