Salvadoran products conquered 52 new international markets in 2023

Some 134 Salvadoran products reached new destinations such as the Netherlands, Singapore, China, Switzerland Thailand, Belgium, Hong Kong, and India, among others, and sales totaled around $21.7 million, the Minec indicated.

Between January and November 2023, El Salvador expanded the list of export destinations for 134 products. In total, according to data from the Ministry of Economy (Minec) there are 52 new destinations in which Salvadoran products managed to enter for the first time, with an exported value of $21.7 million.

In this sense, the head of the Minec, María Luisa Hayem, explained that the conquest of new markets is part of the Government’s strategy to leverage Salvadoran exports.

“From the Government of El Salvador we are working and providing support for our companies to find new export markets and take advantage of existing trade agreements,” said Hayem to “Diario El Salvador”.

He also stated that El Salvador has more than 2,600 exporting companies, and through Minec, they seek to strengthen this segment with the PYME+Exportadora project, which includes advice and accompaniment to exporters and companies with export potential in the search for new markets, commercial information and lines of financial support or co-financing.

Sectors that stand out

Of the products that have entered new markets, nine from the food sector stand out, which have entered 10 destinations, including Curaçao, Spain, Guyana, Guyana, Guyana, Guyana, Guyana, Guyana, Guyana, Guyana, Guyana, Guyana, Guyana and Guyana: Curaçao, Spain, Guyana, the Netherlands and Singapore, to which $6.2 million were exported.

There were also 17 products from the machinery and equipment sector that entered 13 new markets, such as Barbados, China, Switzerland, and Thailand. Sales totaled $956,920.

Likewise, 13 products and chemical substances entered nine markets, including Belgium, Barbados, and Colombia, where they sold around $532,778.

In the case of computer, electronic, and optical products, El Salvador has exported 12 products valued at $585,746 to 13 new markets such as Bolivia, Hong Kong, and India.

Conquering products

Raw sugar is one of the products that has also entered new markets with sales of $3.8 million; followed by rum with $155,089; soybean oil with $157,183; and oil-based disinfectants with $125,972.

Other products that were positioned in new markets are cocoa beans with sales of $76,000; spray guns and similar devices with $73,039; devices for filtering or purifying water with $44,775; cards and labels ($40,680) also reached new markets.

On the other hand, the official also stated that since the beginning of the government’s administration, more than 120 trade facilitation measures have been implemented in an articulated manner, including the recent implementation of Integrated Border Management, which includes the launching of El Amatillo as an Integrated Border Post (IBP) with joint operations between El Salvador and Honduras.

In addition, in a public-private effort, the Minec launched last year the National Trade Facilitation Strategy 2023-2027 with the support of the Inter-American Development Bank (IDB) and the impulse of the National Trade Facilitation Committee.

THE FACTS

Countries

Salvadoran products reached Curaçao, Guyana, Netherlands, Singapore, China, Switzerland Thailand, Belgium, Barbados, Colombia, Hong Kong, and India.

Products

Raw sugar, rum, soybean oil, oil-based disinfectants, cocoa beans, spray guns and similar devices, among others, conquered new markets.

Actions

Since the beginning of President Nayib Bukele’s administration, more than 120 trade facilitation measures have been implemented in an articulated manner, the Minec indicated.

Source: Diario El Salvador