The exceptional quality of Salvadoran manufactured products, coupled with the government’s efforts to open new markets, enabled 148 Salvadoran businesses to expand their export destinations last year, according to recent statements by María Luisa Hayem, the Minister of Economy.
During Exporter’s Day celebrations, Minister Hayem highlighted significant growth in the export of food and beverages, non-metallic mineral products, chemicals, and electrical equipment over the past year. Currently, El Salvador’s export basket comprises around 900 products, as reported by the Central Reserve Bank (BCR).
«Salvadoran exports continue to diversify and gain a foothold in international markets,» Hayem emphasized. She also noted that in 2023, Salvadoran products reached 55 new destinations across four continents, including Switzerland, Spain, Bolivia, China, India, Belgium, Colombia, Morocco, and Thailand.
The minister underscored the emergence of over 200 new export-focused companies in El Salvador since 2019, reflecting the robust growth of the export sector. The government’s initiatives to streamline international trade, including reducing bureaucratic processes and enhancing the customs system both domestically and regionally, are critical to this progress.
«We are driving towards customs integration with Guatemala and Honduras, an initiative that will benefit businesses and consumers alike, fostering greater economic growth in our country,» Hayem stated.
The pharmaceutical sector, in particular, saw notable expansion last year, breaking into and increasing its market presence in South America. According to the 2023 Multisectoral Report on the Pharmaceutical Industry, Salvadoran pharmaceuticals are now being exported to Argentina, Ecuador, Venezuela, Colombia, and Paraguay.
Carmen Estela Pérez, president of the Association of Chemical-Pharmaceutical Industries of El Salvador (Inquifar), highlighted the importance of this achievement, given the stringent health quality standards required by these countries. «Our entry into South America is a testament to the high quality of Salvadoran products and our commitment to continually raising standards. Success in new markets is not determined by tariffs but by meeting the sanitary norms of the destination country,» Pérez concluded.