2008 was a year of record growth in the export sector in El Salvador, with an increase of 14%. However, the Central Reserve Bank (BCR, acronym in Spanish) forecasts a contraction of 15% in exports by the end of 2009.
According to preliminary data from BCR published in an article by Irene Valiente on Laprensagrafica.com, “The traditional products (coffee, sugar, shrimp) have felt a decline of 10.9% annually, equivalent to $194.7 million. The reductions were in both value and in volume.”
The sector exported $103 million in January of this year, $31 million less than in January, 2008.
An article in laprensagrafica.com reported that Jose Escobar, president of the Salvadoran Chamber of Textiles and Apparel, said, "There is a drop in exports because some US companies had to stop production since late last year due to adjustments of accumulated inventories which caused demand in the country to come to a standstill."
Receive more news about Exports & imports
Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.
The Guatemalan Exporters Association is a private non-profit entity, established in 1982; that represents, promotes and develops non traditional exports of Guatemalan companies.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Guatemala
Phone: (502) 2422-3400