Central America has achieved a strong increase in its exports of services. The data
The most recent data reflect that in 2023 it exceeded pre-pandemic levels, the
Thursday (18.07.2024/XNUMX/XNUMX) the Central American Secretariat for Economic Integration (SIECA) presented the results of international trade in services in a virtual seminar.
In reviewing, experts said that, from 2005 to 2023, exports of
Central American services increased 45% of total trade, and have quadrupled,
generating a positive balance in the trade balance of services for USD 20,226.0
million during 2023, while trade in goods was negative by USD -54,446.4 million.
the top 10 of the services exported are represented by personal travel services,
business services, maritime transport, air transport, services
telecommunications, computing and information technology, manufacturing services, financial services, business travel, insurance and pensions, as well as government goods and services.
Among the conclusions of the webinar, it was highlighted that the results cited have generated
new milestones in the trade balance and total exports of the region, suggesting
that trade in services can be an engine of growth.
To consolidate this progress, according to SIECA, Central America must expand
towards the provision of "modern" services, through the combination of talent,
technology and outsourcing. In addition, investments based on “Nearshoring” can
further boost the growth of services exports in the region.
According to the speakers, trade in services has been the most important component
dynamic of world trade over the last fifteen years, generating important
opportunities driven by exports, economic diversification, inflows of
direct investments and integration into global value chains.
For this reason, SIECA is making efforts to promote this dynamic sector through the services trade monitor of the Center for Economic Integration Studies and the new International Trade Platform for Services in Central America. (Virtual Seminar on the channel YouTube from SIECA)
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