El Salvador is open to international trade, which represented 84% of GDP in 2021. Trade has been supported by the privatisation of most sectors, as well as by the promotion of the country's textile production, tourism and international port services. However, El Salvador relies on the U.S. for foreign trade, making their situation somewhat volatile. The country's main exports include various clothing articles (21.6%), articles for the conveyance or packaging of goods (4.1%), electrical capacitors (3.8%), cane or beet sugar (3.5%), and toilet paper (3.4%). Main imports include petroleum oils (9.5%), petroleum gas (2.8%), medicaments (2.8%), automatic data-processing machines (2.5%), and telephone sets (2.4%). According to IMF Foreign Trade Forecasts, the volume of exports of goods and services increased by an estimated 8.4% in 2022 and is expected to increase by 4.9% in 2023, while the volume of imports of goods and services increased by an estimated 3.9% in 2022 and is expected to increase by 2% in 2023.
The country's main trade partners are the United States, Guatemala, Honduras, China, Mexico, Nicaragua, and Costa Rica. El Salvador has very few trade barriers affecting the export of products manufactured in the country, but there are some barriers in services. The Government actively promotes exports from the country's small and medium-sized enterprises. Finally, a master plan between El Salvador, Honduras and Nicaragua for the Fonseca Gulf was presented in 2019; it includes ferries between key cities as well as implementation of a logistics park, a free trade zone and a sustainable tourism hub. El Salvador is a CACM member, and has trade agreements with the EU, Mexico, Colombia, Taiwan, Panama, Chile, the Dominican Republic, Venezuela, South Korea, and the United Kingdom.
The country has a structurally negative trade balance, which reached USD 8.2 billion in 2021 - a trend that is expected to continue during the next decade. In 2021, El Salvador exported USD 6,6 billion worth of goods, while imports reached USD 15 billion. Concerning the trade of services, imports amounted to USD 2.1 billion in 2021, while exports totalled USD 3,1 billion.
Foreign Trade Indicators | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Imports of Goods (million USD) | 11,464 | 11,602 | 9,888 | 14,617 | 17,108 |
Exports of Goods (million USD) | 5,905 | 5,905 | 4,805 | 6,395 | 7,115 |
Imports of Services (million USD) | 1,947 | 2,012 | 1,453 | 2,299 | 2,778 |
Exports of Services (million USD) | 2,829 | 3,309 | 2,154 | 3,179 | 4,406 |
Imports of Goods and Services (Annual % Change) | 3 | 4 | -15 | 29 | 1 |
Exports of Goods and Services (Annual % Change) | 2 | 8 | -25 | 29 | 10 |
Trade Balance (million USD) | -5,640 | -5,709 | -5,025 | -8,009 | -9,569 |
Foreign Trade (in % of GDP) | 76 | 76 | 66 | 81 | 87 |
Imports of Goods and Services (in % of GDP) | 47 | 46 | 42 | 52 | 56 |
Exports of Goods and Services (in % of GDP) | 29 | 30 | 24 | 28 | 31 |
Source: WTO – World Trade Organisation ; World Bank - Latest available data.
Main Customers (% of Exports) |
2022 |
---|---|
United States | 39.2% |
Guatemala | 17.1% |
Honduras | 16.7% |
Nicaragua | 7.0% |
Costa Rica | 4.3% |
Mexico | 2.7% |
Panama | 2.0% |
Dominican Republic | 1.6% |
Germany | 1.3% |
Canada | 1.0% |
Spain | 0.8% |
Italy | 0.7% |
China | 0.7% |
South Korea | 0.6% |
Netherlands | 0.4% |
Jamaica | 0.4% |
United Kingdom | 0.4% |
Belgium | 0.4% |
Peru | 0.3% |
Belize | 0.3% |
See More Countries | 15.8% |
Main Suppliers (% of Imports) |
2022 |
---|---|
United States | 29.8% |
China | 16.6% |
Guatemala | 9.9% |
Mexico | 8.2% |
Honduras | 5.6% |
Nicaragua | 2.6% |
Costa Rica | 2.2% |
Brazil | 2.0% |
South Korea | 2.0% |
Japan | 1.8% |
India | 1.6% |
Germany | 1.3% |
Colombia | 1.3% |
Spain | 1.2% |
Vietnam | 1.0% |
Italy | 0.9% |
Thailand | 0.8% |
Canada | 0.7% |
Ecuador | 0.7% |
Russia | 0.6% |
See More Countries | 29.8% |
Source: Comtrade, Latest Available Data
Source: Comtrade, Latest Available Data
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3.4 bn USD of services exported in 2022 | |
---|---|
54.73% | |
Personal travelPersonal travel | 53.35% |
OtherOther | 53.00% |
Health-related expenditureHealth-related expenditure | 0.31% |
Education-related expenditureEducation-related expenditure | 0.03% |
Business travelBusiness travel | 1.38% |
OtherOther | 1.38% |
17.61% | |
Air transportAir transport | 11.19% |
PassengerPassenger | 10.86% |
FreightFreight | 0.17% |
OtherOther | 0.16% |
Sea transportSea transport | 1.91% |
OtherOther | 1.91% |
8.45% | |
Information servicesInformation services | 0.01% |
7.41% | |
Miscellaneous business,...Miscellaneous business, professional, and technical services | 7.41% |
5.03% | |
3.14% | |
Telecommunications servicesTelecommunications services | 2.93% |
Postal and courier servicesPostal and courier services | 0.21% |
1.99% | |
1.47% | |
ReinsuranceReinsurance | 0.35% |
0.18% | |
Construction abroadConstruction abroad | 0.18% |
n/a% |
Source: United Nations Statistics Division, Latest Available Data
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Signatory of CAFTA-DR Trade Agreement
Member of Central American Common Market (CACM)
Member of Central America Four (CA-4)
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Latest Update: November 2023
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