Nicaragua's Exports Increase
Significantly
The One-Stop Shop for Exports (CETREX, for
its acronym in Spanish) recently reported
that the value of Nicaragua's exports
reached US$653.9 million during the first
four months of 2010, which represents a 31.8
percent increase in value as well as a 28.67
percent increase in the volume of exports
during this period.
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 (30.3 percent),
followed by Venezuela (10.6 percent) and El
Salvador (10.5 percent), which altogether
buy more than half of Nicaragua's products
(51.4 percent).
The source also noted that gold coffee is
Nicaragua's leading export product, followed
by beef. Income generated by coffee exports
amounted to US$152.1 million in the first
four months of 2010, 68 percent more than
the US$90.4 million registered in the
comparable period of 2009, due to higher
production and better prices.
Beef exports totaled US$92.4 million during
the same period of this year, exceeding the
US$66.2 million sold in the same period of
2009, representing an increase of 36
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.
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 Nicaragua. |
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