El Salvador is open to international trade, which represents around 87% of GDP (World Bank, latest data available). Trade has been supported by the privatization 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 t-shirts, singlets, and other vests (11.5%), jerseys, pullovers, cardigans, waistcoats (7.4%), articles for the conveyance or packaging of goods (4.4%), electrical capacitors (3.7%), and cane or beet sugar and chemically pure sucrose (3.2%); whereas imports are led by petroleum oils (12.4%), petroleum gas (3.1%), medicaments (2.8%), telephone sets (2.2%), and motor cars (1.9% - data Comtrade 2022).
The country's main export partners are the United States (39.2%), Guatemala (17.1%), Honduras (16.7%), Nicaragua (7.0%), Costa Rica (4.3%), and Mexico (2.7%), with imports coming chiefly from the United States (29.8%), China (16.6%), Guatemala (9.9%), Mexico (8.2%), and Honduras (5.6% - data Comtrade 2022). 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. The country 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.
El Salvador has a structurally negative trade balance: in 2022, it exported USD 7.1 billion worth of goods, while imports reached USD 17.1 billion. Concerning the trade of services, imports amounted to USD 2.7 billion, while exports totaled USD 4.4 billion (data WTO). The World Bank estimated the country’s trade deficit to account for roughly 24.4% of GDP in 2022. According to the National Bank, in 2023, exports amounted to USD 6,498.1 million, marking a decrease of 8.7% (equivalent to -USD 617.0 million) compared to 2022. However, in volume terms, exports experienced a modest increase of 1.8%. Meanwhile, total imports at the close of 2023 reached USD 15,648.3 million, reflecting a year-on-year decline of 8.5%, amounting to USD 1,459.7 million. Despite this reduction, imports saw a volume growth of 2.3%.
Foreign Trade Indicators | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Imports of Goods (million USD) | 11,602 | 9,888 | 14,617 | 17,108 | 15,648 |
Exports of Goods (million USD) | 5,905 | 4,805 | 6,395 | 7,115 | 6,498 |
Imports of Services (million USD) | 2,012 | 1,453 | 2,299 | 2,778 | 2,623 |
Exports of Services (million USD) | 3,309 | 2,154 | 3,179 | 4,406 | 5,161 |
Imports of Goods and Services (Annual % Change) | 4 | -15 | 29 | 1 | n/a |
Exports of Goods and Services (Annual % Change) | 8 | -25 | 29 | 10 | n/a |
Trade Balance (million USD) | -5,709 | -5,025 | -8,009 | -9,569 | n/a |
Foreign Trade (in % of GDP) | 76 | 66 | 81 | 87 | n/a |
Imports of Goods and Services (in % of GDP) | 46 | 42 | 52 | 56 | n/a |
Exports of Goods and Services (in % of GDP) | 30 | 24 | 28 | 31 | n/a |
Source: WTO – World Trade Organisation ; World Bank - Latest available data.
Main Customers (% of Exports) |
2023 |
---|---|
United States | 36.0% |
Guatemala | 18.4% |
Honduras | 16.3% |
Nicaragua | 7.8% |
Costa Rica | 4.8% |
Mexico | 3.4% |
Panama | 2.0% |
Dominican Republic | 1.7% |
Canada | 1.7% |
Spain | 1.2% |
Germany | 0.7% |
South Korea | 0.6% |
Jamaica | 0.4% |
Italy | 0.4% |
Netherlands | 0.4% |
Belgium | 0.4% |
United Kingdom | 0.4% |
Peru | 0.3% |
Belize | 0.3% |
Haiti | 0.3% |
See More Countries | 16.6% |
Main Suppliers (% of Imports) |
2023 |
---|---|
United States | 28.7% |
China | 15.2% |
Guatemala | 10.1% |
Mexico | 8.2% |
Honduras | 5.0% |
Nicaragua | 3.1% |
Costa Rica | 2.7% |
Brazil | 2.2% |
South Korea | 1.9% |
Japan | 1.9% |
Germany | 1.5% |
Colombia | 1.4% |
Spain | 1.3% |
India | 1.2% |
Canada | 1.2% |
Vietnam | 1.1% |
Trinidad and Tobago | 0.9% |
Italy | 0.9% |
Thailand | 0.9% |
Ecuador | 0.9% |
See More Countries | 32.7% |
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: May 2024
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