El Salvador: Oil Invoice Falls 10%

In the first ten months of the year, Salvadoran purchases abroad that make up the oil bill reached $1.252 million, 10% less than the amount reported in the same period of 2018.

Monday, November 18, 2019

The structure of the oil bill is mainly composed of gasoline ($387.3 million), diesel ($349.5 million), liquefied gases and propane ($189.1 million) and fuel oil (Bunker C) with $146.3 million. Fats and lubricating oils were imported for $54.7 million, according to the Central Bank.

From the BCR report:

The manufacturing industry, including maquila, exported US$4,854.1 million with a 0.2% year-on-year growth, which is equivalent to an additional US$8.2 million versus the same period in 2018. The five main sectors with increases in exports were: manufacture of food products (US$57 million); manufacture of paper and paper products (US$32.5 million); manufacture of pharmaceutical products, medicinal chemical substances and botanical products for pharmaceutical use (US$27.1 million); manufacture of textile products (US$24.9 million) and manufacture of beverages (US$21.3 million); these sectors represent 36.5% of the total exported.

The US demanded Salvadoran goods for US$2,118.2 million, equivalent to 42.1% of total exports, with US$101.2 million less than in the same period of 2018 and year-on-year growth of -4.6%; in second place is Honduras that bought merchandise for US$801.3 million, increasing the demand by US$40.3 million, with year-on-year growth of 5.3%. Guatemala followed with US$792 million (12.3%) as well as Nicaragua and Costa Rica with US$333.5 and US$222.4 million and growth rates of -2.6% and 3.4%, respectively.

Read full report (In Spanish).



More on this topic

El Salvador: Oil Revenue Declines 10%

December 2019

From January to November 2019, the country's oil bill reached $1.379 billion, 10% less than the amount reported for the same period in 2018.

In terms of volume, imports of petroleum products increased by 76.8 million kilograms, representing a 3.2% increase, reported the Central Reserve Bank (BCR).

Oil Bill Still Down

October 2019

In the first nine months of the year, Salvadoran purchases abroad that make up the oil bill totaled $1.122 million, 9% less than the amount reported in the same period of 2018.

The oil bill is composed mainly of gasoline ($341.7 million), diesel ($307 million), liquefied gases and propane ($171 million) and fuel oil (Bunker C) with ($133.2 million), informed the Central Reserve Bank (BCR).

El Salvador: Oil Invoice Decreases 6%

September 2019

In the first eight months of the year, Salvadoran purchases abroad that make up the oil invoice amounted to $1.015 million, which is 6% less than what was reported in the same period of 2018.

The invoice was composed mainly of gasoline ($305.2 million), diesel ($280.7 million), liquefied gases and propane ($154 million) and fuel oil (Bunker C) with $122.6 million, informed the Central Reserve Bank.

El Salvador: Exports Up 5%

July 2018

Between January and May of 2018 exports totaled $2.516 billion, 5% more than in the same period in 2017, and again sales in the manufacturing industry accounted for most of the increase.

The Central Reserve Bank reported that "... The maquila industry ended the period with exports that reached US $518.6 million, higher by US $71.8 million compared to the same period in 2017, with a year-on-year growth of 16.1%."

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