El Salvador: Trade Deficit Increases by 9%

From January to July of this year, the negative balance of trade balance was of $3.460 million, an amount 9% higher than reported in the same period of 2018.

Tuesday, August 20, 2019

From the Central Reserve Bank report:

Exports up to July of this year registered a total of US$3,591.3 million, US$32.2 million additional (0.9% more) regarding the same period of 2018, informed the Central Reserve Bank.

The manufacturing industry, including maquila, exported US$3,442.7 million with a 0.6% year-on-year growth, as a result of the increase in exports of 20 of the 32 sectors that sold abroad during the period; the following stand out with the highest increases in their sales: manufacture of paper and paper products (US$25.6 million), manufacture of beverages (US$22.7 million), manufacture of textile products (US$20.6 million), manufacture of food products (US$13.3 million), as well as the manufacture of pharmaceutical products, medicinal chemical substances and botanical products for pharmaceutical use (US$12.8 million). The sectors that had the greatest reductions in exports were: garment manufacturing (US$73.4 million less) and manufacture of base metals with a decrease of US$18.3 million.

The United States, El Salvador's main trading partner, bought goods for US$1,502.3 million, US$56.3 million less than in the same period in 2018. On the other hand, exports to Central America and Panama totaled US$1,599.8 million, with an increase of US$106.9 million that represented 7.2% year-on-year growth.

Honduras was El Salvador's main trading partner in the Central American region, whose demand for products reached US$567.6 million (5.3% more); followed by Guatemala with US$561.3 million (an additional 14%) and Nicaragua with US$240.4 million (-0.1% less). Always in the Central American region, it closed with trade surpluses with Honduras with US$73.3 million and with Nicaragua (US$49.4 million), while it had trade deficits with Guatemala and Costa Rica of -US$184.9 million and -US$16.5 million, respectively.

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More on this topic

Honduras: Exports Fall 9% up to May 2019

July 2019

In the first five months of the year, Honduran exports totaled $1,914 million, 9% less than reported in the same period of 2018.

From January to May 2019, as a result of general merchandise trade transactions abroad, a deficit of $2,272.4 million was generated, $142.3 million more than the accumulated in the same period of 2018, informed the Central Bank of Honduras.

El Salvador: Trade Deficit Increases to 14%

July 2019

During the first five months of the year, the balance of the country's trade balance reached -$2,521 million, 14% higher than that reported in the same period in 2018.

From the Central Reserve Bank report:

El Salvador's exports up to May of this year registered a total of US$2,490.8 million, 1% less than the same period of 2018, informed the Central Reserve Bank.

Nicaragua: Exports Fall 2%

December 2018

Because of the decline in sales in the agricultural sector, up to September of this year exports totaled $2.000 million, 2.3% less than what was reported in the same period of 2017.

The Central Bank of Nicaragua (BCN) reported that in the case of exports, reductions were registered in the agricultural (-7.8%) and manufacturing (-3.0%) sectors; in contrast, growth was noted in: mining (14.4%) and fishery products (4.1%), continuing with the positive trend observed in recent months.

El Salvador: Foreign Trade Figures - I semester 2017

July 2017

The agriculture and manufacturing sectors accounted for the year-on-year growth of 4% in exports registered in the first half of the year.

Five groups of products accounted for 57.3% of exports: Underwear, clothing and other textiles and their manufactures (US $1,167 million), machinery, other electrical apparatus and equipment (US $152.6 million), unrefined sugar (US $134.3 million), plastic manufactures (US $90.3 million) and coffee including roasted or decaffeinated coffee (US $84.3 million).

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