Year over year, the overall value of Central American exports grew by 11.8% compared to $73.6 billion during 2022.
For benchmarking purposes, global exports from all countries worldwide equaled $23.291 trillion in 2023, rising 24.1% in value since 2019 but reducing by -5.8% year over year.
To give further context, consider that Central American exported goods represent well under one percent (0.4%) of the global tally up by 0.3% one year earlier.
Based on statistics from the International Monetary Fund’s World Economic Outlook Database, the total Gross Domestic Product for all Central American countries amounted to $1.005 trillion for 2023. In context, the $82.3 billion in exports represents about 8.2% of total Central American economic output down from 10.9% for 2022.
Given Central America’s population of 62 million people, the total $82.3 billion in Central American exports during 2023 translates to an average $1,330 for every person living in a Central American country. That dollar amount is 11.8% greater than the average $1,200 in 2022.
Top Central American Export Countries
Below are the top Central American export countries plus the corresponding dollar value in global shipments for 2023. Also shown is each country’s overall share of exports from all Central American nations.
- Costa Rica: US$18.1 billion (up 18.2% from 2022)
- Panama: $16.7 billion (up 8.2%)
- Guatemala: $14.2 billion (down -9.3%)
- Dominican Republic: $11.9 billion (down -3.7%)
- Nicaragua: $7.4 billion (up 0.3%)
- Honduras: $7.2 billion (2022 data unavailable)
- El Salvador: $6.5 billion (down -8.7%)
- Belize: $253.4 million (down -11.5%)
Growing suppliers from 2022 to 2023 among Central American exporters were Costa Rica (up 18.2%), Panama (up 8.2%) and Nicaragua (up 0.3%).
The severest year-over-year decliners were Belize (down -11.5% from 2022), Guatemala (down -9.3%) then El Salvador (down -8.7%).
Note that the highest populated countries in Central America are Guatemala home to 17.6 million residents, Dominican Republic (10.7 million residents), Honduras (10.5 million residents), Nicaragua (6.7 million residents), El Salvador (6.4 million residents), Costa Rica (5.3 million residents) and Panama (4.4 million residents).
In contrast, Belize’s population was 404,000 persons for 2023.
See also Guatemala’s Top 10 Exports, Costa Rica’s Top 10 Exports, El Salvador’s Top 10 Exports and Panama’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports and Field Listing: Population. Accessed on December 4, 2024
International Monetary Fund, World Economic Outlook Databases (GDP based on Purchasing Power Parity). Accessed on December 4, 2024
International Trade Centre, Trade Map. Accessed on December 4, 2024