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BCR highlights rebound of industrial production in El Salvador

The Central Reserve Bank (BCR) informed that the Industrial Production Index (IPI) registered an annual growth of 2.7% in May 2022.

According to the state bank, this increase was mainly driven by higher electricity generation and export products such as paper and maquila.

“The increase in electricity generation at the national level, generated by the entry into operation of the Liquefied Natural Gas (LNG) Plant was one of the key factors for the growth of the IPI together with the increase in the production of paper, printing products and maquila,” the institution published.

In recent declarations, the president of the BCR, Douglas Rodríguez, affirmed that Salvadoran exports, linked to the IPI, continue to grow despite the current international economic crisis.

“Exports of goods and services, which grew 10.9%, as well as private and public consumption expenditures, contributed to the economic growth of the first quarter of 2022”, informed the BCR.