A. M. 
The President of the Cámara de Exportadores de El Salvador (COEXPORT), Silvia Cuéllar, has highlighted a recovery in the country’s goods export sector, although challenges in terms of export value persist. According to COEXPORT data, the rate of contraction has slowed, reflecting a positive trend for the salvadoran economy and a possible improvement towards the end of the year.
Through september 2024, exports registered a 3.8% drop in value, compared to a 5% decline in August. This figure suggests a respite for the sector, showing that, although the total value of exports has decreased, the reduction in figures has been smaller in recent months. “We are exporting more; we are taking more product, but the value is lower”, commented Cuellar, stressing the importance of focusing exports on higher value products.
The main challenge facing salvadoran exporters is to ensure that exported products reach a higher added value in the international market. Cuellar explained that increasing the value of products will balance the export balance and improve the country’s income, which would benefit the national economy and could generate new employment opportunities and growth in various sectors.
In addition to exported goods, the services sector is playing a key role in the economy. Areas such as tourism, call centers, technology and film production have shown sustained growth and are sectors that contribute significantly to salvadoran GDP. According to Cuellar, this boost in services complements goods exports and further strengthens El Salvador’s position in the global market.
With a gradual recovery in goods exports and a growing services sector, the salvadoran economy is expected to outperform last year. “If we add up goods and services, we are definitely going to grow more than last year”, Cuellar assured, projecting an optimistic outlook for the close of 2024.
