españolTrade Agreement: Negotiations with the UKWednesday, January 16, 2019 It is announced that technical groups from the governments of El Salvador and Guatemala began negotiations in London to conclude a new trade agreement. Now, there is a possibility that the agreement the region seeks to sign with the European country will not be consolidated, since it is not yet clear how the process of Britain's exit from the European Union will be carried out, an issue that is generating great tension between the British Parliament and Prime Minister, Theresa May, at this very moment. Remittances to El Salvador Up 8% in 2018Thursday, January 17, 2019 In accordance with the behavior that has been reported in recent years, in 2018 the country received $5,469 million in family remittances, 8% more than that recorded in 2017. The report of the Central Reserve Bank (BCR) explains that last year the five main departments receiving family remittances were: San Salvador (19.6% of the total country), San Miguel (11.7%), La Unión (8.2%), Santa Ana (7.9%) and La Libertad (7.7%). Northern Triangle: More Negotiations for Customs UnionTuesday, January 15, 2019 Guatemala, El Salvador and Honduras have yet to finalize their Customs Union, since this week a new round of negotiations began in which they will follow up on the project to implement the advance declaration. Although in December 2018 it was reported that the El Poy integrated border post in Chalatenango, the first to have the necessary infrastructure to operate within the framework of the customs integration of the Northern Triangle, began operating in El Salvador, the unification process is currently under negotiation among the countries. New Food Plant in El SalvadorThursday, January 17, 2019 Riko Brands will start operating in February 2019 a new industrial plant at kilometer 13 of the highway to Comalapa, which will produce broth, dressings, pasta and soups. Samuel Quirós, president of Quality Grains, owner of the food plant, explained to Laprensagrafica.com that "... the investment for the new facilities exceeded $1 million, including the construction of the building and the purchase of the machinery.” El Salvador in 2018: Loan Porfolio Up 6%Tuesday, January 15, 2019 At year-end, according to corporate financing, the bank loan portfolio totaled $13.793 million, 6% more than at the end of 2017. Superintendencia del Sistema Financiero (SSF) reported that the balance of the loan portfolio of financial institutions operating in El Salvador increased by $767 million between 2017 and 2018, rising from $13.026 million to $13.793 million. Tourism: Optimistic Outlook for 2019Monday, January 14, 2019 After reporting a 16% year-on-year increase in revenues generated by this sector in El Salvador in 2018, a 13% growth is expected for this year. According to authorities of the Ministry of Tourism (MITUR) for this year is expected that more than 2.6 million tourists visit El Salvador, representing a 6.2% increase over what was reported in 2018. Central America Buys More Fruit Juices from U.S.Thursday, January 17, 2019 During the first six months of 2018, Central American companies imported $69 million worth of fruit and vegetable juices, and purchases from the U.S. increased 8% over the same period in 2017. Figures from the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"] The High Cost of Over-RegulationThursday, January 17, 2019 It is estimated that the lack of competition among wholesale suppliers and the over-regulation of fuel prices generate an annual cost to Costa Rican society of about $830 million. According to a study carried out as part of Costa Rica's accession to the Organization for Economic Cooperation and Development (OECD), over-regulation hinders competition between service stations and does not allow consumers to take advantage of lower prices. New Industrial Complex PlannedTuesday, January 15, 2019 In El Salvador, a $5 million, ten-warehouse industrial park is expected to be built at kilometer 13 of the Comalapa highway in San Marcos. Representatives of the Quality Grains company informed that they plan to begin construction work on the complex of wineries next January 18th and would be completed by the end of June. Light Trucks: Business Keeps RisingWednesday, January 16, 2019 In the first six months of 2018, countries in the region imported light trucks for $103 million, 11% more than the same period last year. Figures from the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"] Central America: Fuel Prices up to January 15thMonday, January 14, 2019 Price per gallon of regular gasoline: Costa Rica $3.59, Nicaragua $3.21, Honduras $3.20, El Salvador $2.74, Guatemala $2.66 and Panama $2.64. From the Ministry of Economy of El Salvador report: Cardboard Boxes: Imports up 29%Tuesday, January 15, 2019 In the first six months of 2018, paper or corrugated cardboard box imports in the countries of the region totaled $72 million, 29% more than in the same period in 2017. Figures from the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"] Guatemala Strengthens as an Energy ProviderTuesday, January 15, 2019 From January to November last year, the country exported $165 million in electricity to Mexico and Central America, 73% more than in the same period in 2017. The Report of the Monetary, Exchange and Credit Policy of the Banco de Guatemala, details that the energy exportations are mainly caused by the investments made in the electricity transmission network of the country, which has allowed satisfying the increase of the demand coming from El Salvador and Honduras. Pet Food: Business Increasing in Central AmericaMonday, January 14, 2019 In the first six months of last year, countries in the region imported dog and cat food for $92 million, 14% more than in the same period in 2017. Figures from the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"] El Salvador in 2018: Tourism Up 16%Friday, January 11, 2019 During the last year, the country's income from foreign tourism reached $1.473 million, 16% more than in 2017. Regarding the number of tourists who arrived in El Salvador, representatives of the Ministry of Tourism (MITUR), reported that between 2017 and 2018 the figure increased 13%, rising from 2.2 million to 2.5 million. |
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Monday, January 21, 2019 - last update: 5:11 pm
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