Exporting to El Salvador

El Salvador is part of Central America. It is located between Honduras and Guatemala. Despite being a small country, it has a population of 6.6 million (IMF, 2018) and has a reasonable consumer market for UK exporters.

Growing export market

Despite a drop in 2017, there has been consistent growth in the level of imports to El Salvador. Growth of 5.6% is expected in 2019 (IMF, 2019). Trade between the UK and El Salvador has increased by 69% in the year to June 2019 from the previous fiscal year, reaching £49 million (IMF, 2018). This highlights a growing demand that UK exporters could benefit from.

Demand for goods and services

In the year to June 2019, the top goods exported from the UK to El Salvador were manufactured goods including furniture and electrical goods, as well as non-primary form plastics and toilet and cleansing preparations (ONS, 2019). The top services imported by El Salvador from the rest of the world were transport, travel, insurance, pension, financial and maintenance services (ITC Trade Map, 2019). If you operate in any of these industries, El Salvador could be a good market for you.

Ease of doing business

91st

out of 190 countries (World Bank, 2019)

Currency

US dollar

Business language

Spanish

You are likely to need a translator

GDP per capita

$4,008

UK is $41,030 (IMF, 2019)

Economic growth

2.5%

(IMF, 2018)

Time zone

GMT -6

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.