Acajutla Port El Salvador. According to the Central Reserve Bank (BCR), in 2024, El Salvador exported $6447.57 million in products, a decrease of $50.52 million, or -0.78%, compared to the previous year.
2024 is the second consecutive year exports closed in negative numbers compared to the previous year. In 2023, exports decreased by $617.02 million, or -8.67%, compared to 2022.
Despite a rise in exports during the last four months of 2024, it was not enough to overcome the export decline seen earlier in the year.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | % Change 2023-2024 |
|
|---|---|---|---|---|---|---|---|
| January | 483.88 | 464.92 | 515.56 | 578.89 | 522.55 | 531.06 | 1.63% |
| February | 468.05 | 509.07 | 504.92 | 576.59 | 582.92 | 506.64 | -13.09% |
| March | 514.88 | 399.32 | 558.25 | 720.25 | 683.74 | 507.21 | -25.82% |
| April | 466.11 | 212.17 | 512.48 | 566.84 | 471.52 | 586.37 | 24.36% |
| May | 546.83 | 234.16 | 532.52 | 638.51 | 589.65 | 567.80 | -3.71% |
| June | 530.15 | 274.75 | 539.00 | 625.88 | 588.90 | 510.28 | -13.35% |
| July | 543.13 | 442.95 | 582.27 | 678.40 | 568.71 | 574.48 | 1.01% |
| August | 486.64 | 423.56 | 498.74 | 576.00 | 539.60 | 535.61 | -0.74% |
| September | 462.17 | 469.26 | 550.44 | 584.62 | 502.44 | 540.75 | 7.62% |
| October | 492.92 | 492.94 | 552.23 | 560.66 | 495.80 | 582.32 | 17.45% |
| November | 461.71 | 428.31 | 538.15 | 530.57 | 503.15 | 555.54 | 10.39% |
| December | 448.51 | 454.02 | 510.33 | 477.90 | 449.11 | 449.61 | 0.11% |
| Total | 5904.98 | 4805.43 | 6394.89 | 7115.11 | 6498.09 | 6447.57 | -0.78% |
| Average | 492.08 | -400.45 | 532.91 | 592.93 | 541.51 | 537.30 |
SEE ALSO: El Salvador’s Inflation Rate
The sector with the most significant percentage decrease was maquila manufacturing, where exports declined by 11.60%; they went from $980.83 million in 2023 to $867.12 million in 2024, a reduction of $113.81 million.
Exports in the agriculture, livestock, forestry, and fishing sectors also decreased in 2024, showing a 3.52% decline. This sector exported $7.12 million less of products in 2024 than the previous year.
Additionally, coffee exports, a renowned product of El Salvador, also dropped in 2024. The country exported $9.99 million less in 2024 than in 2023.
The decline in exports is attributed to lower demand from El Salvador’s principal trading partner, the United States, which has reduced its purchases since 2023.
