In five of the six regional export categories, the country showed a significant downward variation with respect to 2022.

El Salvador's exports to Latin America and the Caribbean decreased by 3.4%, with the European Union there was a decrease of 15.8%, with the United States the reduction was 16.3%, with China the downward variation was 73.4% and in the Subregion that refers to the neighboring countries of the nations the decrease in exports was 3.4%.

The only region in which there was an increase in exports was the Asian market excluding China, which experienced an increase of 2.0%.

In Latin America and the Caribbean, of the 26 countries included in the report, only Panama, Costa Rica and Uruguay showed increases in exports in 2023.

According to the IDB, exports from Latin America and the Caribbean entered a contractionary phase in 2023 after two years of expansion in the framework of the recovery from the shock caused by the pandemic. The reversal of commodity prices and the slowdown in the rate of expansion of export volumes explained the fall in the value of external sales.

Translated by: A.M