Estimated Losses From Closed Borders is $36 Million

ANEP of El Salvador calculates the trade embargo with Honduras produced $36 million in losses each day for Central America, as calculated globally.

Thursday, July 2, 2009

For the Salvadorian textile industry in particular, the border closing meant estimated losses of $1 million in exports and 4,000 workers sat idle, according to calculations from the Salvadorian Chamber of Textile, Confection, and Free Trade Zones Industries (CAMTEX, acronym in Spanish) published in At the same time, the organization estimates that Honduran factories lost $700,000 in exports to El Salvador.

The article in adds: “the problem with the trade barrier also implies the possible closing of future contracts. ‘There are penalties if raw materials aren’t procured and, thus, assembly doesn’t happen on time,’ explained José Antonio Escobar, president of CAMTEX.

More on this topic

C.A. Exporters Demand a Solution in Honduras

September 2009

Fecaxca warned that exports from all the countries of the region are being affected by measures blocking free flow of goods. "Exporters of the region, represented in the Federation of Export Chambers of Central America (Fecaexca), agreed on Saturday, in Managua, to await a prompt resolution of the Honduran crisis, in order to resume transit of goods in the region, which is paralyzed since September 22."

Honduran and Salvadoran Business Leaders Meet

July 2009

The Salvadorian National Association of Private Companies received its Honduran counterpart, Cohep, to analyze the commercial situation.

The Honduran Private Business Council (Cohep, acronym in Spanish) will provide a presentation about the situation that Honduras is going through and the impact it is having on the business sector with losses in the millions.

Salvadoran Textile Companies After Bailout

April 2009

The survey conducted by the Textile Chamber (CAMTEX) among its members reflects the need for $25 million for the sector.

José Antonio Escobar, CAMTEX president, noted that the textile industry will seek a meeting with President-elect Mauricio Funes to inform him about the situation.

Salvadoran Textile Exports Would Increase by 7%

March 2009

The textile sector foresees a 7% increase in exports for 2009, despite the economic crisis.

La Prensa Grafica published on its website: "However, according to businessmen in the sector, this prospect for growth might not be met due to local bank credit restrictions, not necessarily because of the fall in demand in the North American country.

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