U.S. buys more than $293 thousand in Salvadoran goods per hour

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By Marco Echevarria

In 2023, the United States imported $2,574.4 million from El Salvador, according to the Bureau of Economic Analysis registry.

The United States purchased $293,881.28 in goods from El Salvador per hour in 2023, according to data released by the Office of Economic Analysis (BEA) and the United States Census Bureau.

The document, which reflects U.S. exports and imports at the close of 2023, confirms that companies located in El Salvador sold $2,574.4 million, based on safe cost and freight (IFC), to U.S. consumers.

The United States is the main trading partner of El Salvador, being the country that exports and imports goods the most.

But for the United States, El Salvador ranks only 66th in the import level, a position below than a year ago, and the number 51 at the export level.

El Salvador and Panama are the countries of the region to which the United States least buys goods, occupying positions 66 and 95. Costa Rica, Honduras, Guatemala and Nicaragua, are placed in 37, 51, 53 and 55, respectively.
Salvadoran products

The BEA report indicates that purchases to the Salvadoran market rose from $3,037.4 million to $2,574.4 million between 2022 and 2023, leading to a 15.2 percent drop in imports.

The figure does not coincide with the $2,313,5 million reported by the Central Reserve Bank (BCR) at the end of 2023. Based on Salvadoran records, the annual drop in exports to the United States amounted to 16.2 percent.

The U.S. demand for El Salvador’s assets is varied, but clothing and clothing and point add-ons totaled $1,388.5 million last year. This sector was one of those that pushed the overall fall in Salvadoran exports in 2023, by 8.7 %.

The shopping list also includes materials, electrical appliances, sugar and coffee, among others.
US exports

The exports that the United States made to El Salvador far exceed what the companies based on Salvadoran soil.

History indicates that, in 2023, $4,266.4 million was sent to the Salvadoran market in the United States, an average of $11.6 million per day or about $487,031.96 per hour.

Despite this, US exports followed the same trend and fell 15 per cent in 2023, according to the BEA.

The BCR notes that the main products purchased from the United States are mineral fuels and oils, products for distillation, bituminous materials and mineral waxes, with $2,101.4 million accumulated last year.

This article has been translated from the original which first appeared in Diario El Mundo