Salvadoran exports increased by 16.7% in 2022 compared to 2021.Good news for El Salvador!

By Eddie Vasquez  |  Aug 24th, 2022
Acajutla port El Salvador
Acajutla port El Salvador.

According to the latest foreign trade report from the Salvadoran Central Reserve Bank (BCR), exports of Salvadoran goods in 2022 increased by 16.7% compared to the same 2021 period.

“Exports from El Salvador as of July 2022 totaled US$4,494.1 million, US$644.5 million higher than the sales made in the same period of 2021, which reaches a growth of 16.7%,” said Douglas Rodriguez, president of the state bank.

Excellent economic news Exports grew 17%, we went from importing energy to exporting $900 thousand, and now we export $31 million, we have the lowest inflation rate in Central America; 70,000 new jobs were created, and tourism continues to grow.” President Nayib Bukele.

The Central Reserve Bank stated that July 2022 is the second month with the highest exports in the history of El Salvador; it registered US$691.8 million, surpassed only by May of this year, which closed with US$710.2 million in Exports.

The main products exported thus far are T-shirts and knit shirts, sweaters and pullovers, plastic items for transportation and packaging, and coffee, including roasted or decaffeinated coffee substitutes.

Compared to 2021, exports to Central American countries registered a growth of 19.5%, showing a more favorable behavior than that of the United States, with an increase of 11.6%.

The increase is explained by the greater demand for Salvadoran products among the main trading partners; both in Central America and the United States,” Douglas Rodriguez.

President Nayib Bukele celebrated that the Salvadoran economic climate allows the country to increase its exports by 16.7% more than the same period of 2021. The president also stated that El Salvador has the lowest inflation rate in Central America, despite the effects of the covid-19 pandemic and the war in Ukraine.

The number of exporting companies grew, and now our products reach more destinations. Agriculture has also grown; coffee exports grew 67%, cereals and legumes 61%, and citrus 35%.” Nayib Bukele.

President Bukele stated that in 2022, Salvadoran companies had expanded their shipments to 19 new destinations, including Hungary, Croatia, Tanzania, Nigeria, and Saint Kitts and Nevis.

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