A statement by the Salvadoran Association of Industrialists (ASI) reads:
The Salvadoran Association of Industrialists (ASI) has made an assessment on the performance of the manufacturing industry, which details the results of the different productive sectors.
According to the report, the economy of El Salvador had a GDP of 1.7% in the first quarter. While the industry recorded growth of 2.1% of IVAE (Volume Index of Economic Activity), according to the BCR.
In light of the crisis, industrialists believe that this growth has been the reflection of early reaction by entrepreneurs and the private sector's own effort and not an anti-crisis strategy implemented by the country.
According to ASI, 75% percent of domestic production is represented by five industrial sectors, these being, Food and Beverages 37% Textiles and clothing at 19%, Chemical and Pharmaceutical 9%, Paper and Cardboard and Graphic Arts 8%, and Plastics 2%.
More on this topic
September 2010
In the first half of the year, industrial manufacturing production increased by up to 12%.
According to data from the Comptroller General the largest increase was in the processing of food products, including meat, dairy, tomato, sugar and salt, with an average 12.6% rise.
April 2012
The Salvadoran Association of Industries (ASI), has presented the industry's annual report for 2011.
Part of the speech by President of the CSA in the report:
Despite the lukewarm growth of our economy and slow recovery of world economies, our industry has once again proven to be a thriving and entrepreneurial sector.
December 2008
The plan proposes the creation of a development bank that would offer direct lines of credit to help drive growth in the sector.
The Salvadoran Association of Industrial Companies (ASI) presented the 12-measure proposal that is urgently needed to deal with the crisis.
Napoleon Guerrero, president of ASI, explained that the creation of the financial institution is needed to reform the law that regulates the Mortgage Bank and the Bank for Agricultural Development (BFA) in order to capitalize them and expand financial coverage for the industry.
December 2008
The reduction in loans to to factories is at 9.6% in 10 months, according to the Superintendence of Banks.
Credit granted by the banking sector to the manufacturing industry in October showed a 9.6% decrease in comparison to that on December 31, 2007 and a 3% decrease compared to the same month last year.
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