Thursday 26 May 2022

Central American Exports Regain Dynamism

Central American sales exceeded US$10.2 billion, as of March 2021, this in line with the recovery of the global trade in goods, says SIECA.

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Q24N – Total exports from Central America reached US$10.207 billion in the first quarter of 2021, a growth of 12.6% compared to the same period in 2020, according to the Trade Monitor for the first quarter of 2021, presented by the Secretariat for Central American Economic Integration (SIECA).

As of March, extra-regional exports registered an increase of 12.9%, as a result of the increase in the flow of exports to China, which had an increase of 142.2%, to Brazil with 40.6% more and Japan with 39.1%.

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“Destination markets such as Saudi Arabia, South Korea and Canada reported contractions of more than 15% in the flows exported from Central America,” the report details.

According to economic categories, in the first quarter of 2021, industrial supplies represented 29.5% of the total exported to third markets, capital goods 7.8%, consumer items 9.6% and food and beverages 51.8%. The heading of fuels and lubricants, and transportation equipment presented decreases in the exported value.

The products that led the export flows to third markets were medicine, surgery, dentistry or veterinary instruments with 14.4% of the total; coffee and coffee substitutes 11.1%; copper ores and their concentrates 8.6%; bananas and plantains 7.9% and sugar 5.8%.

On the other hand, sales to the intraregional market rose 11.9%, highlighting industrial supplies with 38.3% of the total, consumer items 21.2%, as well as food and beverages with 32.4%.

The agency indicated that in terms of exports to the intraregional market, the interannual growth in industrial supplies 38.3%, food and beverages 32.4%, as well as consumer articles 21.2% stands out.

The report also highlighted a 12.6% year-on-year variation in exports, as of March 2021, reaching a total value of $ 18,732.3 million.

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As of the first quarter of 2021, the balance of Central America’s trade balance vis-à-vis third parties was -3.1% of the regional Gross Domestic Product (GDP), equivalent to a deficit of $ 8,305.5 million.

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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