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Textiles account for 76.4% of Salvadoran FTZ exports
09 Sep '13
1 min read
Textiles accounted for 76.4 percent of all products exported by Free Trade Zones (FTZs), locally known as maquila in El Salvador, in January to July 2013, according to data released by Central Reserve Bank (BCR).
FTZ exports amounted to US$ 672.6 million during the initial seven months of the current year, showing an increase of 13.4 percent year-on-year.
The US remained the main trading partner and it imported goods worth US$ 618.3 million from El Salvador during the period under review, followed by Honduras with US$ 24.8 million, the report showed.
Meanwhile, the Export Corporation of El Salvador (COEXPORT) has formulated a plan to double Salvadoran export earnings over the next five years.
The strategy has a potential to achieve annual growth of 20 percent, if proper planning is done, Pablo Duran, president of COEXPORT, said in a statement.
The proposal lays stress on four factors—complying with international standards, expanding access to information, use of new computer programmes and software, and diversification of products for greater market penetration.
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