El Salvador exports from January 1 to October 31, 2022, totaled $6260.77 million; it represents a 13.88% annual increase, equal to $763.16 million more compared to the same 2021 period, according to the latest data from the
Central Reserve Bank of El Salvador (BCR).
El Salvador exports in 2021 averaged $552.40 million per month, reaching an all-time high of $593.80 million in July. The monthly average for 2022 is $626.08 million, with March being the highest month at $710.24 million in exports.
In October 2022, El Salvador exported $571.91 million of products, exceeding the $566.37 million exported in October 2021, registering a growth of 0.98%, equivalent to an additional $5.54 million for the month.
*Oct 31 2022
The manufacturing and maquila industry totaled $5978.23 million, or 95.49% of the total exported by the country. The manufacturing sector is the largest exporter, with $4765.01 million for 76.11% of the total; it is followed by the Maquila industry, which exported $1213.22 million or 19.38%.
The agriculture, livestock farming, forestry, and fishing sector have exported a total of $237.92 million (3.8% of the total) thus far in 2022. It includes the coffee sector, which has exported $184.75 million this year.
Thus far in 2022, every month has had an increase in exports compared with the same 2021 month. March 2022 has seen the most extensive percentage increase with a 23.70%, and October 2022 has the lowest percentage increase for the year, with 0.98%.
El Salvador exports in 2022 have already surpassed 2020 ($5028.32 million) and are on track to overtake the 2021 numbers ($6628.75 million); this increase is good news for the Salvadoran economy. Also, remittances to El Salvador in 2022 have increased.
El Salvador exports most of its products to the United States, followed by other Central American nations, Guatemala and Honduras.