El Salvador: Oil Revenue Declines 10%

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.

Tuesday, December 17, 2019

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).

The BCR report states that "... The structure of the oil bill is composed mainly of gasoline (US$426.4 million), diesel (US$387.1 million), liquefied gases and propane (US$207.2 million) and fuel oil (Bunker C) with US$156.1 million. Greases and lubricating oils were imported for US$65.4 million.

In general, imports up to November totaled US$11,116.3 million, higher by US$194.9 million regarding 2018, which meant a 1.8% year-on-year growth. The five main countries of origin of imports were the United States with US$3,360 million; the People's Republic of China (US$1,603.9 million); Guatemala (US$1,175.6 million); Mexico (US$870.4 million) and Honduras with US$772.9 million; these represented 70% of the total imported.

Exports from El Salvador up to November 2019 amounted US$5,494.8 million with a 0.1% year-on-year growth and 3.4% in terms of volume regarding the same period of 2018
."

See full report (in Spanish).

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The manufacturing industry, including maquila, exported $974.9 million with a 6.1% annual growth, equivalent to $56.4 million more compared to the same period in 2019, reported the Central Bank.

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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.

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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).

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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.

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