Salvador’s Trade Deficits Up 23.7% YoY in the First Nine Months of 2011

2011-10-31

According to statistics by the Central Reserve Bank of El Salvador, Salvador exported a total of US$4,105.5m from January to September, 2011, up 21.8% YoY. Imports totaled US$7,698.3m, up 22.7% during the same period. Trade deficits reached US$3,592.8m, an increase of 23.7% over the same period in 2010. During the first nine months of this year, the traditional exported products, i.e. coffee, cane sugar and prawns, generated an export value of US$522.77m, up 86.7%. The export value of non-traditional products, was US$2,640.5m, up 17.3% over the same period. Textile exports reached US$937.4m, up 11.9% YoY. However, the import of crude oil for US$1,342.2m and the import of ready-made garment materials for US$792.7m during the first nine months this year were the major contributors to the widening of trade deficits.