El Salvador exported $2.29 billion to Central America between January and August 2022

September 27, 2022

The president of the Central Reserve Bank (BCR), Douglas Rodríguez, stated in a television interview that up to August El Salvador had exported a total of $2.29 billion to Central America, and that together the neighboring countries are the country’s main trading partners.

“The countries of Central America are the main destination for exports, accumulating $2,290 million from January to August, the share is 45% of the total of $5,091 million that the country has sold to its trading partners in the world,” the official said.

In addition, he explained that exports to the markets of the region report a year-on-year growth of 18.3% and this is due to the fact that freight rates in January 2022 had a cost of $9,600 per container for export, while for July they fell to $4,660. “That is a very good sign that they are going to begin to lower inflation because freight costs are already less,” he valued.

While, to the United States, the country’s second largest trading partner, Rodríguez indicated that $1,970.6 million were exported to August with a growth of 11.8% compared to the same date last year. This market represents a 38.7% share of total Salvadoran exports.

This growth in sales abroad, according to the BCR spokesman, is due, in part, to the fact that between January and August 61 companies joined the export sector, reaching a total of 2,236 companies that sell Salvadoran products to other countries.

“This means that companies are producing more and that this requires hiring more labor,” he added.

According to Rodríguez, the “exportable basket of El Salvador” is made up of 847 products that are destined for 120 countries in the world.

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