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El Salvador exported more than USD 5.3 thousand million in 2016.

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El Salvador closed the year 2016, reporting that exports amounted to USD 5,335.4 million, according to data from the  Central Bank of El Salvador.

 

For the closing of the year, the country recorded a significant improvement in the trade deficit, which was reduced by 8.3% with respect to 2015. This result is influenced by the decrease in imports in USD 560.8 million, mainly due to the low price of oil and its derivatives, and its transmission to global prices.

 

According to official figures the sectors that accounted for higher growth in exports are:

  • Chemical industries reported an increase in sales by USD 15 million, which translates into almost a 7% growth with respect to 2015(medicines for human use, detergents, medicines for veterinary use, soap, medicines that contain antibiotics for human use).
  • Textiles, an increase registered in sales close to USD 14 million, which translates to a5.6 % growth with respect to 2015(narrow elastic of synthetic fibres, cotton yarn, dyed cotton textile)
  • Furniture/furniture, grew nearly 18%, which represents USD 7 million more than what was exported in 2015 (blankets for mattresses, metal furniture, luminaries)
  • Machinery and mechanical equipment, reported sales of USD 7 million more than in 2015, which represents a 3.4% of growth (tantalum capacitors , tags with chip, capacitors fixed)

 

The countries where there has been an increase in exports are: Indonesia and Taiwan due to increased exports of sugar and towards the United Kingdom through the increase in exports of sugar and cane molasses.

 

According to the Inter-American Development Bank (IDB) in its report "Estimates of commercial trends in Latin America and the Caribbean" 2017, indicates that the economies of the region would close with a 6% fall in exports in 2016, as a result of the weak growth of global trade. In this environment, Salvadoran exports closed the year with a reduction of - 2.7%, a fall which could be expanded, if not because the United States demanded more goods in the last quarter of 2016.

Actualizado 01/31/2017

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