El Salvador imports for 2022 have increased by 20.01% as of October 31

By Eddie Galdamez  |  Nov 22nd, 2022
El Salvador Imports
Acajutla port. Image by CEPA

Imports to El Salvador from January 1 to October 31, 2022, totaled $14852.4 million; it represents a 20.01% annual increase, equal to $2476.74 million more compared to the same 2021 period, according to the latest data from the Central Reserve Bank of El Salvador (BCR).

Salvadoran imports in 2021 totaled $15075.92 for a monthly average of $1256.33 million; it reached an all-time high of $1531.93 million in October. The monthly average for 2022 is $1485.24 million, with August being the highest month at $1655.27 million in imports.

In October 2022, El Salvador imported $1364.25 million of products, failing to overtake the $1531.93 million imported in October 2021. This month registered a decline of -10.95%, equivalent to $167.68 million less in imports.

El Salvador Imports
2020 2021 2022 Change
2021-2022
January 967.54 1056.15 1389.63 31.58%
February 888.37 948.55 1359.21 38.05%
March 881.44 1318.06 1603.44 21.65%
April 646.18 1220.84 1443.38 18.23%
May 600.25 1170.75 1546.47 32.09%
June 770.01 1275.48 1592.26 24.84%
July 860.41 1348.48 1450.62 7.57%
August 788.75 1220.95 1655.27 35.57%
September 859.14 1248.47 1447.87 15.97%
October 966.68 1531.93 1364.25 -10.95%
November 959.90 1419.98
December 1059.66 1280.28
Totals 10247.93 15075.92 14852.40 20.01%
*Oct 31 2022
Average 853.99 1256.33 1485.24

The manufacturing industry accounts for 88.03% of total imports, totaling $13074.62 million. It is followed by agriculture, livestock farming, and forestry industry with $734.35 million in imports.

Thus far in 2022, October is the only month with fewer imports compared to the same months in 2021. August 2022 has seen the most significant percentage increase, with 35.57%, and October reported a decrease of -10.95%.

El Salvador’s imports in 2022 have already surpassed 2020 by 73.92%($10247.93 million) and are on track to overtake the 2021 imports ($15075.92 million); this increase is good news for the Salvadoran economy. Also, the 2022 remittances to El Salvador and exports have increased, which is good news for the Salvadoran economy.

El Salvador’s trade deficit for 2022 is $8591.63 million, which is more than the 2021 trade deficit of $8447.17.