A recent report released by the Central Reserve Bank (BCR), reveals that Salvadoran energy exports have experienced remarkable growth, increasing by an impressive 109.3% in the first nine months of this year, totaling $59.3 million. This substantial surge in energy exports has been attributed to the concerted efforts of President Nayib Bukele’s government in various electricity generation projects, along with contributions from the private sector.
Douglas Rodríguez, President of the BCR, noted that the energy sector has played a pivotal role in energizing the Salvadoran economy. In fact, during the second quarter of this year, it recorded a remarkable 16.8% growth compared to the same period in the previous year.
The Directorate General of Energy, Hydrocarbons, and Mines (DGEHM) provided detailed information, stating that between January and August of this year, El Salvador exported 419 gigavatios hora (GWh) of energy, predominantly to Central American countries. The leading buyers of Salvadoran energy included Guatemala, Costa Rica, Honduras, and Nicaragua.
According to the DGEHM, the positive performance of El Salvador’s energy sector in the Regional Electricity Market (MER) can be primarily attributed to the initiatives spearheaded by President Nayib Bukele. These initiatives have laid the groundwork for a sustainable and efficient development.
It is important to note that the export of energy to neighboring countries occurs only after meeting the domestic demand of Salvadoran households and productive sectors within the country. The Salvadoran government remains committed to ensuring that its citizens’ energy needs are met before pursuing exports.
Additionally, the report highlights a minor and non-representative proportion of energy imports due to slight disruptions caused by the El Niño phenomenon. Despite these challenges, El Salvador’s energy sector continues to exhibit robust growth, contributing significantly to the country’s economic vitality.