Looking for an easy way to ship your cargo to El Salvador? Choose the best freight forwarder to transport your goods to El Salvador safely and on time.
Exporting goods to El Salvador, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as El Salvador. If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to shipping to El Salvador.
WHAT CAN YOU EXPECT IN EL SALVADOR?
Regulations in El Salvador are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct: ● Corporate culture in El Salvador is relationship-driven. Known as warm and friendly people, Salvadorans attach great importance to developing personal relationships rather than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships”, as Salvadorians prefer to do business with people whom they know and they may be more loyal to you personally rather than to the company you represent. Third-party contacts are also a key to business success in El Salvador. An established person vouching for you and presenting your company will help you gain trust in the market. ● Flexibility and spontaneity are also common traits of Salvadorans, they have a more relaxed perception of time management than Americans and Europeans, however punctuality is expected for business appointments. ● It is also important to consider the language as a possible barrier: Although most business executives speak English fluently, a good knowledge of Spanish would be highly appreciated for business relations.
QUICK FACTS ABOUT EL SALVADOR (2018)
- Capital: San Salvador
- Other Large Cities: Santa Ana, Soyapango, San Miguel, Santa Tecla, Mejicanos, Apopa, Delgado
- Population: 6,420,744 (Urban Population: 72.0%)
- Official languages: Spanish
- Time Zone : GMT - 6
- Currency: American Dollar (USD)
ECONOMIC SNAPSHOT (Source: IMF - World Bank, 2018)
- GDP: 26.06 billion USD (GDP Growth: 2.4% / GDP per capita: 3,922 USD)
- Inflation Rate: 1.1%
- Unemployment Rate: 4.0%
- Total Imports of Goods: 11.83 billion USD
- FDI Inward Flow: 0.426 billion USD (6,0% of GDP)
- Ease of Doing Business Score (2019): 85th / 190
WHY DOING BUSINESS WITH EL SALVADOR IS THE RIGHT DECISION
El Salvador is a fully dollarized economy that offers a unique and dynamic background for companies looking to expand internationally. The country’s economic performance has been historically tied to its agriculture. However its recent market expansion has been focused on the manufacturing (goods produced by local assembly plants called maquiladoras) of products such as textile, clothing and processed foods The import market has seen steady growth in recent years and it is expected to increase in the years to come. The USA is El Salvador’s largest trading partner and its dollarized economy eliminates foreign exchange risk and reduces transaction & financial costs. The new Central American Customs Union formed with Honduras and Guatemala, as well as the Central America – Dominican Republic Free Trade Agreement (CAFTA-DR) offer interesting opportunities for exporters, with no duties on U.S. consumer and industrial goods. Furthermore there is strong potential for local assembly plants for different types of industries. The need for shipping to and from El Salvador has been increasing exponentially during recent years. With LAC by your side you will reinforce your company’s cargo shipping capability to El Salvador. Our experienced professionals are very familiar with the market requirements in El Salvador which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Salvadoran market, headache free.
EL SALVADOR TRADE OVERVIEW
- MAIN IMPORTS: Petroleum, Medicaments, Raw Textile, Telecommunication Equipment, Vehicles & Parts, Electrical Energy, Processed Food
- MAIN EXPORTS: Textile, Apparel, Packaging, Plastic Products, Sugar Raw, Forestry & Paper, Food & Beverage
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Manufactured goods, Infrastructures & Construction, Furniture, Electrical Goods, Plastics, Agriculture, Transportation
- PRINCIPAL TRADING PARTNERS: USA, China, Honduras, Guatemala, Nicaragua, Costa Rica, Mexico, Panama, Dominican Republic, Spain, Japan, South Korea