El Salvador: Exports grow 3.6%

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    The goods exported from El Salvador to August 2018 amounted to US $ 4,053.8 million, US $ 139.9 million in addition to the same period of 2017, with an interannual growth rate of 3.6%, reported the Central Reserve Bank.

    The report of the Central Reserve Bank highlights the following:

    96.3% of total exports were made by the manufacturing industry (including the maquila) with an amount of US $ 3,905.8 million and a year-on-year growth of 3.9%. The five main sectors were: garment manufacturing with US $ 1,476.4 million, food processing with US $ 548.5 million, manufacture of textile products US $ 362.3 million, manufacture of rubber and plastic products US $ 209.3 million and paper manufacturing and its products with US $ 187 million.

    The maquila industry accumulated exports during the period for US $ 862.4 million, with a year-on-year growth of 16.7%; highlighting textiles and clothing with US $ 586.2 million, within which garments represent 96% with US $ 563 million.

    Meanwhile, the agriculture, livestock, hunting and related activities sector exported US $ 133.3 million, standing out the cultivation of plants with which to prepare beverages, which represented 76.5% of the total of the item, followed by the branch of propagation of plants with US. $ 10.7 million.

    The United States demanded a total of US $ 1,784.8 million from El Salvador, 2.3% more than in the same period of the previous year, that is, an additional US $ 39.9 million.

    The five most exported goods to that country were: Underwear and clothing accessories (US $ 859.8 million), outer garments (US $ 428.8 million), machines, other appliances and electrical equipment (US $ 197.4 million), coffee even, toasted or decaffeinated (US $ 43.5 million) and unrefined sugar (US $ 39.8 million).

    The demand for Salvadoran goods by Central America and Panama amounted to US $ 1,705.9 million, US $ 107.8 million more than in 2017, showing an inter-annual growth of 6.7%. The main commercial partner in the region was Honduras with US $ 619.3 million, followed by Guatemala with US $ 562.2 million.

    The importing sector supplied the Salvadoran economy with goods for US $ 7,673.6 million, US $ 734.8 million in addition to that imported in the same period of 2017; this represents a year-on-year growth of 10.6%. The main imported goods were: petroleum oils, medicines, petroleum gas and other gaseous hydrocarbons, t-shirts and t-shirts and cell phones that represent 20.1% of the total, that is, US $ 1,539.8 million, of which US $ 190.6 millions come from Central America and US $ 1,349.1 million from the rest of the world.

    The oil bill increased by US $ 162.7 million, from US $ 848.1 million in August 2017 to US $ 1,010.8 million until August 2018, as a result of the high prices of crude oil in international markets. This effect is reflected in the increase in spending on gasoline for US $ 80.9 million, diesel (US $ 62.9 million) and propane gas (US $ 5.5 million) compared to the same period of 2017.

    The balance of the trade balance was -US $ 3,619.9 million, with an increase of 19.7%, that is, US $ 594.9 million.