Despite global economic challenges such as inflation, logistical hurdles, and geopolitical tensions, El Salvador’s service exports have continued to thrive, reaching a remarkable milestone in 2023. According to Silvia Cuéllar, the president of the Salvadoran Export Corporation (Coexport), the sector has witnessed a rapid ascent, doubling its sales in international markets over the past eight years.
«The export sector comprises two components, goods, and services, with the latter experiencing a rapid rise,» Cuéllar stated. «Our records indicate a figure of around $4 billion in 2023, compared to just over $3 billion the year before.»
Cuéllar attributed this growth to various factors, including the upward trend in tourism, the expansion of call centers and technology businesses, as well as advancements in logistics and air services. She also highlighted the emergence of franchising within the service sector, with 36 companies—32 of which are small businesses and 28 managed by women—ready to export not only their brand but also the necessary resources for these ventures.
«While there was a decrease in goods exports last year, we anticipate a gradual recovery in the remaining months of this first semester,» Cuéllar added.
Furthermore, Cuéllar emphasized collaborative efforts between the private sector and the government to bolster export volumes and increase foreign exchange earnings. These efforts include various committees focusing on productive development, facilitation, investments, and exports, involving multiple industry associations and government institutions.
«We value the partnership between the public and private sectors, as it is crucial for fostering dynamic export growth,» Cuéllar remarked. «For instance, there is a push for the government to go fully digital, which we see as a significant step forward.»
Looking ahead, Cuéllar expressed optimism about the potential for further growth, particularly with indications of improving economic conditions in key markets like the United States. She underscored the importance of continued collaboration and strategic initiatives to sustain El Salvador’s positive trajectory in service exports and overall economic development.