Nicaraguan exports continue on the rise

Sept. 13, 2011 - PRLog -- Nicaraguan exports in 2011 have registered US$688 million, a 23.28 percent growth when compared to the same period of 2010.

According to the Center for Export Procedures (CETREX, for its acronym in Spanish), the main export destinations continue to be the United States, Venezuela and Canada, with export values of US$515 million, US$197.2 million and US$176.3 million, respectively.

CETREX also stated that 32.68 percent of revenues originates from sales to Central America, 22.79 percent to North America and 11.1 percent in the case of South America.

Estimates from the institution indicate that Nicaragua could exceed US$2,350 million in exports by the end of 2011. This would represent a surplus of US$450 million above export figures registered in 2010.

Nicaraguan gold coffee, which meets the highest international quality standards, contributed US$387.79 million in exports; beef contributed US$282.35 and gold contributed US$119.63 million. Additionally, coffee, meat, sugar, dairy and seafood constitute the main export products to the United States, Canada and Venezuela, according to official figures.

A recent study conducted by the Economic Commission for Latin America and the Caribbean (ECLAC) of the United Nations indicated that during 2011, Nicaragua led the e Central American region in terms of real GDP growth, with 4.5 percent.

Willy Zapata, Head of the Economic Development Unit of ECLAC for the sub-region, commented that this improving behavior is associated to the diversification of markets for Nicaraguan exports and the revitalization of the domestic market, achieved by the joint efforts of the government and the private sector.

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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.