Foreign trade in Central American countries achieved positive results during 2021 in line with the evolution of global trade following the crisis caused by the coronavirus disease (COVID-19) pandemic, as a result of the gradual lifting of mobility restrictions, the progress of vaccination processes and economic stimulus programs.
The Center for Studies on Economic Integration (CEIE) of SIECA indicated in its recent report that the total exports of goods of the group of 6 countries (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama) increased 27.6% in 2021 compared to 2020; while the imports grew from 42.7%.
"This result indicates that there was a satisfactory trade recovery," said the Central American Goods Trade Monitor.
The CEIE study also provided the main results of the fourth quarter of 2021.
Namely, the Total exports of the region between October and December 2021 amounted to a total of USD 42,066.5 million, which represents a growth of 28% compared to 2020.
At the country level, the relative importance of Guatemala's exports stands out with 36% of the total exported to the region, followed by El Salvador (24.8%), Costa Rica (21.4%), Honduras (10.8%), Nicaragua (6.2%) and Panama (0.7%).
The intra-regional exports reached a weight of 28,9% of the total exported, which represents a growth of 27,6% compared to 2020, while the exports to countries outside Central America presented a growth of 27,9%.
According to the report, the recovery is due, in part, to the dynamism of sales to the Asian market: China (139%), Japan (68.6%) and South Korea (68.3%); as well as to the growth in the value of exports to partners such as Mexico (44.4%), the European Union (28.7%), the Dominican Republic (23.9%) and the United States (20.5%). In the Caribbean region, the report adds, the growth rate of exports to Puerto Rico (20.6%) is also notable.
As for main products The products that led export flows out of the region, according to the report, were: medical, surgical, dental and veterinary instruments; coffee; copper minerals; bananas and plantains; palm oil; and dates, figs, pineapples, avocados, guavas, mangoes and mangosteens.
Meanwhile, intra-regional exports were led by the following product groups: medicines; food preparations; plastic articles for transport or packaging; and bakery, pastry or biscuit products.
Imports
Brianda total goods imports, these amounted to USD 88,600.5 million fourth quarter of 2021, showing an increase of 42,7% compared to the same period in 2020.
For this period of 2021, the extra-regional imports represented a growth of 45% of the total imported. While the imports from the interior region of accounted for the remaining 29%.
For the study, extra-regional purchases by trading partner show for the period under study that the main suppliers in the region are the United States with 32,5%, China with 13,8%, the European Union with 9,5% and Mexico with 9,2%; which presented annual growth rates of 42.1%, 53.7%, 45.5% and 29.3%, respectively. (Central America Goods Trade Monitor)
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