A. M. El Salvador obtained the best performance in services exports to the third quarter of 2024, according to the latest report of the Secretaría de Integración Económica Centroamericana (Sieca). The country reached an accumulated US$4,558.7 million, reflecting a 26.3% growth compared to the same period of 2023.
Costa Rica ranked second in growth with an increase of 12.1%, reaching US$12,189.9 million in exports. Guatemala followed, with an expansion of 7.7% and an accumulated $3,496.6 million. Meanwhile, Panama recorded a more moderate growth of 3.3%, with $13,562.8 million in services exports.
In contrast, Honduras and Nicaragua were the only countries in the region to show a decrease in their exports. Honduras reported a 5.3% drop, while Nicaragua experienced a more pronounced decline of 13.6% compared to the previous year.
El Salvador’s remarkable performance in this sector reflects a strengthening in the supply of services and greater competitiveness in international markets. The diversification and digitalization of services have been key factors in this growth.
Salvadoran authorities have stressed the importance of continuing to promote policies that encourage trade in services, to consolidate this positive trend and strengthen the country’s economy.
You may also be interested in
