In 2018, the region imported parts and vehicle spare parts for a sum close to $1.1 billion, of which 65% were purchased by companies in Guatemala, Costa Rica and Panama.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
The Asian giant represents a market of 1.345 million consumers and is the world's second largest importer of the agrifood sector, with $126 billion per year.
The study "Food Market in China", compiled by Procomer Costa Rica, indicates that in the Asian country 50% of agrifood imports are from the agricultural sector, in products such as soybeans (which corresponds to the main of the entire agrifood sector), barley and rice.
Last year, regional exports of vegetables totaled $180 million, 10% more than 2017, a rise explained by the behavior of company sales in Guatemala and Honduras.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Since mid-July, the main companies transporting maritime cargo from the Port of Santa Tomas in Guatemala stopped operating the direct route to Europe, which will raise between 20% and 25% the costs of imports and exports.
After six decades of keeping the direct route to European ports in operation, the main shipping companies departing from Puerto Santo Tomás de Castilla in Izabal such as Maersk, Hamburg Sud, MSC, CMA-CGM, Hapas Lloyd and Sea Trade, decided not to re-operate the route concerned, leaving only one company with a multipurpose transport ship as an option to move cargo to Europe.
Guatemalan authorities, the only country in the region that is negotiating the FTA with Korea unilaterally, announced that they will speed up efforts to sign the agreement before the end of the year.
The announcement was made by President Jimmy Morales in the company of the Minister of Economy, Acisclo Valladares Urruela, before the members of the board of directors of the National Coffee Association (Anacafé), which is one of the sectors that is demanding the adhesion of the country to the Free Trade Agreement (FTA) between Central America and South Korea.
During the last year, imports of iron and steel sheets in the countries of the region totaled $941 million, 13% more than in 2017, a rise explained by purchases made from companies in China.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
The reported decline in the value of frozen fruits exported from Central America is partially explained by the fall from $1.34 to $1.21 recorded in the price per kilo between January and December last year.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
During the last year, imports of electric motors and generators totaled $222 million, 46% more than in 2017, which is largely because of purchases from El Salvador from Spanish companies.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
It was announced that the National Assembly of South Korea ratified the Free Trade Agreement signed with Central America.
The announcement was made by Seok-hyun Lee, deputy of the Korean assembly, who reported on the evening of August 2: "... We, the Korean National Assembly last night ratified the FTA with the nations of Central America.
During 2018, companies in Central American countries imported insecticides, herbicides and fungicides for $671 million, 3% less than they bought in 2017.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
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