Businessmen are Confident of Export Recovery

Although in the first half of the year sales abroad reported a slight decrease of 0.4% over the same period in 2018, the business sector in El Salvador expects exports to rebound in the remainder of the year.

Wednesday, July 17, 2019

Exports from El Salvador up to June of this year registered a total of $3,033.9 million, with a reduction of $13.6 million, compared to the same period in 2018, when the total amounted to $3,047.4 million, informed the Central Reserve Bank.

Regarding this slight market, Silvia Cuellar, executive director of the Corporation of Exporters of El Salvador (Coexport), told that "... the falls are because of a series of factors such as the delays in the delivery cycles generated by the implementation of the Central American Single Document (Duca) at the beginning of last May."

However, there is optimism that foreign sales will improve during the rest of the year. Regarding the issue, Cuellar said that "... political problems in Nicaragua continued to influence foreign trade, to which was added the decrease in sales to the United States, who 'has also had a decline in their orders. We are not saying that it is not going to happen, but rather that flows are delayed, we are confident that by the end of the year we will recover, or we will end up at the same levels."

In that sense, Eduardo Cáder, president of the Salvadoran Association of Industrialists (ASI), explained that the plans of the new government of the country create an optimistic atmosphere, as it is expected to facilitate trade and remove barriers to investment.

See full report of the Central Reserve Bank.

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