The rise in exports is due to better prices in Salvadoran products

The growth of exports in the first semester was determined by the rise in prices at the international level, assured the director of Technical Affairs of the Chamber of Commerce and Industry of El Salvador (Camarasal), Yesenia Salas.

“Just as we have seen an increase in international prices, our exportable products also have better prices in international markets,” explained Salas during a press conference.

The director pointed out that exporters must take advantage of the situation and look for new markets and opportunities that increase the volume of merchandise commercialization.

She indicated that the export sector is satisfied with the results of the first semester, but recalled that there was a 1% drop in export volume.

Data from the Central Reserve Bank (BCR) revealed that in the first six months of this year $3,802 million were exported, about $546.5 million more than in 2021, equivalent to a 16.7% increase. However, volume was down 1.1%.

“Exports must be one of the country’s bets to promote economic growth,” Salas emphasized.

After learning about the results of the first semester, the Exporters Corporation of El Salvador (Coexport) projects that by the end of 2022 growth will be around 15% and expects that negative 1% in volume to be reduced.

If growth continues, the Corporation estimates that even $7.6 billion in exports can be reached.

“The projections for the end of the year are going to be very close to a growth of 15% in total, and we will probably no longer have the loss of 1% of the volume that we have,” said the president of Coexport, Marvin Melgar.