dinero_admin El Salvador is marking a steady pace in its economic growth, driven significantly by the export sector. Silvia Cuéllar, president of the Corporación de Exportadores de El Salvador (COEXPORT), noted that the country has maintained an average annual growth rate of 7% when adding exports of goods and services in recent years. This performance underscores the nation’s resilience and productive potential in international trade.
A key factor in this growth is the impressive boom in the services sector. While goods exports have registered a solid 3-4% increase, the services sector has taken off with growth rates between 20% and 25%. This dynamism demonstrates a successful diversification of the salvadoran economy, with services consolidating as a crucial engine for generating foreign exchange and expanding the country’s productive base.
In the previous year, the sum of exports of goods and services reached an excellent figure of US$12 billion, according to COEXPORT data. Despite this achievement, Silvia Cuéllar emphasized the need for a “more aggressive bet” for the future. COEXPORT has presented President Nayib Bukele with an ambitious proposal to achieve a sustained annual growth of 10%, which implies great challenges and the need for innovative strategies.
Currently, salvadoran exports are mainly concentrated in the United States and Central America. However, Cuellar pointed out the importance of diversifying markets, exploring the potential of existing Free Trade Agreements (FTAs), which, on average, have an 8-9% utilization rate. The goal is to expand beyond traditional markets, seeking new opportunities to strengthen the salvadoran presence in global trade.
In addition, COEXPORT this week expressed its expectation of an early resolution in the negotiations with the Donald Trump administration for the elimination of tariffs. This measure could provide an additional boost for salvadoran exports by facilitating access to key markets and reducing operating costs. The combination of growth strategies, diversification, and improved trade conditions projects a promising future for El Salvador’s export sector.
