Key information regarding the seasonality in the value of Central American trade in both the intra-regional and extra-regional markets.
Extracted from a report entitled "Seasonal patterns of trade in Central America: initial notes" issued by the Secretariat of Central American Economic Integration (SIECA):
There is a requirement to avoid duplicate collection of customs duties levied on imports in order to meet the provisions of the trade pact with the European Union.
The Federation of Chambers and Industry Associations of Central America and the Dominican Republic are demanding that governments provide efficient management and eliminate obstacles to the movement of goods.
At the last meeting held in Panama the Chambers of Industry urged their governments to have greater efficiency in customs procedures for trade in goods in Latin America.
Instead of being reduced, bureaucracy at the Central American borders is becoming increasingly burdensome, complicating and making intra regional trade more expensive.
Constant delays which increase transportation costs, lack of progress in the streamlining of customs procedures and a perceived stagnation of the customs and economic integration project are the most pressing problems observed by business associations in Central America.
Central American trade grew by 21.8% during the period January to August 2011, equivalent to $54,249.2 million.
Executive Summary of the Monthly Statistical Bulletin by the Central American Economic Integration Secretariat January-August 2011:
Trade (exports/imports) in Central America showed an increase of 21.8% accumulated during the period January to August 2011, equivalent to U.S. $54249.2 million. This exchange was strongly driven by the growth observed in Honduras (36.4%), Guatemala (23.9%) and El Salvador (22.8%). However, Costa Rica had the greatest weight on the total trade of the region (31.4%), followed by Guatemala (26.8%).
Regional trade statistics (totals, in the Central American Common Market, and the rest of the world).
SIECA, the Secretariat for Central American Economic Integration, published a report called “Central America: Trade 2005-2009”, with trade statistics for the region.
Trade between Central American countries decreased 17% in the first third of 2009, when compared to the same period of 2008.
According to data from the Central American Economic Integration Secretary, exports between the countries of the region reached $1.74 billion, $356 million less than the first third of 2008 ($2.1 billion).
Of the total exports by the region, 29% goes to the countries that comprise it, reaching $6.403 billion at the end of 2008.
This figure is slightly above the average of 27.7% observed over the past five years.
The major exporters within the region are Guatemala, which has concentrated at least 33% of the average for the past four years, followed by El Salvador with 24%, Costa Rica with 23% and Honduras and Nicaragua added 20%.
By improving the movement of merchandise within Central America, the region will facilitate negotiations for a trade association agreement with the European Union.
Costa Rica's exports to its neighbors grew sharply in the first five months of the year. Sales to Panama rose by 37 percent, followed by Nicaragua with 20 percent and El Salvador with 18 percent.
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