The outlook for Salvadoran exports in 2024 has been marked by challenges and contrasts. According to the Central Reserve Bank (BCR), the country experienced a slight decline of 0.8% in its goods exports, reflecting a stagnation in the sector's growth.

Despite this slight decrease, the figure remains less severe than the 8.7% contraction recorded in 2023, indicating a possible stabilization of Salvadoran foreign trade. Factors that influenced the decline: The products that contributed most to this contraction were clothing and accessories, as well as iron and steel castings. However, some sectors showed positive performance, such as plastics and cereal-based preparations, which experienced an increase in their exports.

Expansion in Key Markets The Inter-American Development Bank (IDB) report, "Estimates and Trends," highlights that although overall exports declined, certain markets showed significant growth: Central America: +5.1% Asia: +12.6% China: +313.4% Latin America and the Caribbean: +4.9%. On the other hand, exports to the United States, the country's main trading partner, registered a 7.7% reduction, which had a negative impact on the overall foreign trade balance. Exports in Central America and Main Destinations At the regional level, the report also indicates that, after a 1.7% drop in 2023, Central American exports stagnated in 2024 with minimal growth of 0.1%.

This slowdown was influenced by the decline in exports from Panama, Honduras, and El Salvador, while Costa Rica, the Dominican Republic, Guatemala, and Nicaragua achieved moderate growth. El Salvador's main export destinations in 2024 were: - United States: 35.6% - Guatemala: 18.4% - Honduras: 16.3% - Nicaragua: 7.8% - Costa Rica: 4.8% - Mexico: 3.4% Main Exporting Regions and Number of Companies Geographically, El Salvador's exports were concentrated in three main departments: - San Salvador - La Libertad - Santa Ana These three territories accounted for more than 98% of total national exports. Furthermore, the Central Reserve Bank (BCR) reported that 2,680 companies exported products in 2024, representing a 2.0% decrease compared to the previous year. Outlook for Salvadoran Foreign Trade While the data reflects a mixed outlook, with declines in some sectors and growth in others, Salvadoran foreign trade faces the challenge of diversifying markets and strengthening its global competitiveness.

Expansion into Asia and Central America represents a key opportunity to reduce dependence on the U.S. market and capitalize on new trade trends. The export sector must focus on innovation, logistical efficiency, and compliance with international standards to ensure a sustained recovery in the coming years.