A. M. The Corporación de Exportadores de El Salvador (COEXPORT) is optimistic after the government’s request to the United States to avoid the application of a 10% tariff on salvadoran exports. This measure, if accepted, is seen as an engine of economic development for the Central American country.
El Salvador’s Minister of Economy confirmed the request after a meeting with the U.S. Secretary of Commerce, emphasizing the benefits to be obtained. Silvia Cuellar, president of Coexport, said that the tariff exemption would have a significant positive impact on the national economy.
The United States represents a vital market for El Salvador, absorbing more than 30% of its exports, followed closely by the countries of the Central American region. Between these two destinations, between 75% and 80% of total salvadoran exports are concentrated.
Exports to the United States are dominated by the textile industry, including apparel, clothing, yarn, and fabric, which represents almost 70% of the total. Other important sectors are food, pharmaceuticals, and plastics, demonstrating the diversity of the Salvadoran export offer.
Despite the focus on the U.S. market, Coexport insists on the need to diversify and explore new opportunities, such as the Free Trade Agreement negotiations with China. Although initiated in April 2024, there is still no definite date for the conclusion of this important trade agreement.
