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CENTRAL
AMERICA |
Nicaragua Sees Significant
Increase in Exports
The One-Stop Shop for Exports (CETREX, for
its acronym in Spanish) recently reported
that Nicaragua's exports reached US$284.9
million during the first two months of 2010,
which represents a 31.8 percent increase in
value as well as a 30.9 percent increase in
the volume of exports when compared to the
same period in 2009.
The growth in export value and volume is due
mainly to an increase in the use of
cultivated land, as well as an augmentation
in international prices of products like
sugar cane, gold, coffee, petroleum and
bananas.
CETREX also stated that the United States
continues to be the main destination of
exports from Nicaragua (29.77 percent),
followed by El Salvador (11.70 percent) and
Venezuela (8.95 percent), which altogether
buy more than half of Nicaragua's products.
The source also noted that gold coffee is
Nicaragua's leading export product, followed
by beef. Income generated by coffee exports
amounted to US$62.2 million in January and
February 2010, 81 percent more than the
US$34.3 million registered in the comparable
period of 2009, due to higher production and
better prices.
Beef exports totaled US$42.4 million during
the first two months of this year, exceeding
the US$29.8 million sold in the same period
of 2009, representing an increase of 42
percent.
According to Carnicarne, the Nicaraguan
Chamber of Beef Exporting Plants, the beef
sector in Nicaragua expects to grow 10
percent with respect to the volume of
exports in 2009; representing exports
amounting to approximately US$270 million
this year.
The upcoming signing of the Free Trade
Agreements with the European Union and Chile
will also help increase the country's access
to leading markets as well as maximize
export earnings and boost productivity.
PRONicaragua is the Nicaraguan Investment
Promotion Agency, established in 2002. It is
a non-profit, public-private institution
whose mission is to generate economic growth
and job creation in Nicaragua by attracting
high-quality foreign direct investment. The
agency provides complimentary support
services to qualified investors seeking
investment opportunities in our country. For
futher information, please contact us at
(505) 2270-6400. |
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