El Salvador, Honduras record a dip in exports

Apparel exports from El Salvador and Honduras to the US declined in 2021 despite the government’s recent push on nearshoring. El Salvador exported apparels worth $656 million during the year, a 12 per cent dip from 2019 while apparel exports by Honduras dipped 14 per cent to $872 million during the period, shows GlobalData.

Sheng Lu believes, it would take longer for apparel exports from these two countries to recover the effects of pandemic. In 2021, their exports to the US grew 28 per cent and 33 per cent year-on-year (by quantity), suggesting a sound recovery. Robert Antoshak, Industry Consultant adds, the US government has been assisting countries like Honduras and El Salvador to attract more investment to rebuild their clothing sectors. However, it will take some time for these initiatives to fructify.