Last year, trade in paints and varnishes between Central American countries amounted to $123 million, which is 10% lower than in 2019, a drop that was reported in the context of the economic crisis resulting from the Covid-19 outbreak.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
Unless intra-regional trade in chemical contents and residues, micronutrients and food preparations is regulated in a balanced manner, trade relations in Central America could face obstacles in the future.
Trade between Central American countries is essential, since a considerable proportion of foreign sales by local companies are destined for other markets in the region.
Due to the tropical storms Eta and Iota, severe damage has been reported to the road network in Central American countries, and some border posts in Guatemala, Honduras and El Salvador have been suspended.
Since November 17, operations were suspended at the El Corinto, El Florido and Aguas Calientes border posts. These areas, shared by Guatemala and Honduras, are not operational, according to the Guatemalan Superintendence of Tax Administration (SAT).
Arguing that there is unfair treatment in the other countries of the region, Costa Rican drivers of cargo vehicles block the transit through the border posts of Penas Blancas and Paso Canoas.
The protests in Costa Rica, which affect vehicle circulation in the country and border crossings, will have a short-term impact on intraregional trade and cargo transport costs.
In order to access the $1.75 billion credit that it intends to request from the International Monetary Fund (IMF), the Costa Rican government proposed to tax financial transactions, raise the tax on the profits of companies and individuals, and increase the tax on real estate.
Local authorities announced that as of March 7, cargo vehicles traveling through the country from Costa Rica will no longer pay $50 at Nicaraguan customs.
During 2019, purchases abroad totaled Ch$12,836 million, which is 3% less than the amount reported in the previous year.
The General Comptroller's Office reported that between 2018 and 2019 foreign purchases in the country decreased by $396 million, from $13,233 million to $12,836 million.
For the periods in question, imports of intermediate goods reported a decrease, in this case it was 4.5%, from $3,311 million in 2018 to $3,161 million in 2019.
Authorities from both countries met to review pending procedures related to the export and import of products such as tomatoes, beef, chicken, fish and sausages.
The bilateral agenda also addressed the issues of international cargo transport, smuggling at border crossings, streamlining procedures and efficiency in processes, as well as the provision of facilities and measures restricting the international transport of land cargo, reported the government of Panama.
Guatemala, El Salvador and Honduras agreed that May 4, 2020 is the new date for the use of the Central American Single Invoice and Declaration.
From the Agexport statement:
September 30, 2019. The Ministry of Economy through the Vice-Ministry of Integration and Foreign Trade announced on September 27, 2019 that in a meeting with the Ministerial Instance of the Customs Union of the Republics of El Salvador, Guatemala and Honduras it was agreed as follows:
After having been extended several times, the contingency plan for DUCA F and DUCA was finalized on July 8, however, there is uncertainty because the platform is not fully operational.
In the first quarter of the year, Panama reported purchases abroad for $3.167 million, and imports of consumer goods grew 4% over the same period in 2018.
The most recent report of the General Comptroller of the Republic details that between the first quarter of 2018 and the same period of 2019 foreign purchases fell by $53 million, from $3.220 million to $3.167 million.