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LatinNews Daily - 12 July 2021

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In brief: Industrial production up in El Salvador

* El Salvador’s central bank (BCR) has released new figures which show the production of industrial goods, as reflected in the industrial production index (IPI), rose 49.8% in May 2021 compared with the same month in 2020, while the monthly variation was up 1.1%. The BCR said this increase was driven by factors such as the reactivation of productive chains and recovery of foreign demand which had been negatively affected by the coronavirus (Covid-19) pandemic. According to the BCR, the resumption of activity in the food, textile, and leather industries, including maquilas, and corresponding increases in the consumption of electricity and water, have been particularly important in explaining the rise in overall industrial productivity. It also highlights the recovery of external demand, noting that the manufacturing industry and maquila exports were up 160.5% in May compared with May 2020 and up 2.2% compared with April 2021.