Salvadoran-made goods have reached 122 countries worldwide, with three markets accounting for 86.4% of shipments, according to data from the Central Reserve Bank (BCR). From January to July, exports totaled $3.78 billion, a decrease of $224.2 million (5.6%) compared to the same period in 2023. However, the volume of goods exported increased by 1.8%, reaching 2.15 billion kilograms, indicating that Salvadoran companies exported more goods but at lower prices.
The United States remains the top trading partner, purchasing $1.29 billion worth of goods in the first seven months of the year, representing 34.5% of exports. If Central America is considered as a single bloc, it becomes the largest buyer, accounting for 47.9% of Salvadoran exports, totaling $1.81 billion.
Within the region, Guatemala led with $735.7 million in imports, followed by Honduras ($582.3 million), Nicaragua ($327.2 million), and Costa Rica ($175.7 million). Mexico ranked next, importing $157.9 million worth of Salvadoran goods by July.
Among the top 49 buyers of Salvadoran exports are countries in Europe, Latin America, and Asia, including Switzerland, the UAE, the Czech Republic, South Africa, and Cuba.
Despite these strong partnerships, exports to the U.S. have contracted by $160.3 million, an 11% decline compared to the same period in 2023. The BCR highlighted that analysts agree the U.S. economy has weakened, despite remaining resilient to inflation and high interest rates set by the Federal Reserve. The July unemployment rate in the U.S. hit a two-year high of 4.3%, directly impacting consumer spending and reducing demand for imported goods, including those from El Salvador.
Nonetheless, some markets showed positive growth. China saw a 534% increase in Salvadoran imports, particularly in sugar, textiles, and other goods. Italy’s demand for Salvadoran products grew by 25%, driven by tuna and coffee. Other notable increases were recorded in Peru (21.3%) and Puerto Rico (20.2%), with both countries boosting purchases of sugar, textiles, and steel products, among others.