Economy reflects favorable export numbers so far this year

This indicates that the exporting companies have the same demand and the ability to achieve their economic activity, as explained by the head of the Central Reserve Bank.

Photo: Balance Newspaper.

San Salvador. In the January-July period of this year, merchandise exports grew by 17% and resulted in a backlog of $4,494 million, which translates to an additional $644 million for what was exported in the same period in 2021, emphasized Douglas Rodriguez, President The Egyptian Arabic Republic. Central Reserve Bank (BCR).

The official explained that this indicates that the exporting companies have the same demand and the ability to achieve their economic activity.

Manufacturing and processing industries focus on the majority of Salvadoran exports, with the former accounting for 75% (15% growth and cumulative total of $3,390 million) mainly in plastics, textiles and clothing.

Maquila accounted for 19% of total exports and accumulated $859 million in the same period for a similar growth of 15%. Exports of electrolytic capacitors and clothing have grown here.

Agriculture achieved export growth of 46% and represented 5% of total exports of coffee, grains, legumes, oranges and lemons, which amounted to $212 million.

The rest of the sectors grew by 595%, accumulating $33 million. Here, the 3.291% increase in electricity exports stands out, which is historic because El Salvador has never had the production needed to export and produce its own energy.

But the number of companies destined for export is increasing; 2,196 are the new issuers, and the firms exporting a total of $200,000 per month have also grown.

It is exported to 19 countries where it has never been exported before: Tanzania, Hungary, Pro Asia, Nigeria, Saint Kitts and Nevis, among them.

The export basket is 835 products and the six most exported products are T-shirts, jackets, plastic containers, electronic semiconductors, coffee and toilet paper. These represent 31% of total exports.

In total, 657,000 quintals of coffee were exported to more than 40 countries, at an average of $257 per quintal. This product is exported to eight new countries that did not order it in 2021: Malaysia, Slovenia, Poland, Argentina, Denmark, Mexico, Guatemala and Costa Rica. The United States, Germany, Greece, Japan, Belgium, Italy, Australia, the United Kingdom, South Korea, and Saudi Arabia are the ten countries to which most coffee was exported in the above period.