El Salvador’s exports decline in January

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By Marco Echevarria

The maquila export sector remains on negative ground.

In January 2024, El Salvador’s merchandise exports reversed the negative trend they recorded for 11 consecutive months; however, the latest report from the Central Reserve Bank (BCR) indicates that they fell back on negative ground in February.

Last month, El Salvador exported $506.6 million, $24.5 million less than in January.

Between January and February, exports totaled $1,037.7 million. The maquila sector with $148.7 million remains on negative ground, falling 16.7%, compared to in the first two months of 2023.

Non-traditional exports reported $818.3 million, $17.6 million less than recorded between January and February last year.

While traditional exports ($70.7 million) fell year-on-year to 22.4 per cent, pushed hard by the decline in coffee exports.

This article has been translated from the original which first appeared in La Prensa Grafica