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Nicaraguan export figures reach new record during 2011
The Center for Export Procedures recently stated that Nicaraguan exports reached US$2,130.3 million in the first eleven months of 2011, surpassing total sales in 2010 and reaching record figures.
This amount exceeds the US$1,920 million in total exports reached in 2010, which had been the previous highest export figure in the history of the country.
Additionally, according to CETREX, figures for the January-November period of 2011 surpass the US$1,722 million registered during the same period of 2010 by 23.7 percent.
The government entity also indicated that the U.S. continued to be Nicaragua’s largest export destination with 29 percent of the market, followed by Venezuela with 12.1 percent, Canada with 11 percent and El Salvador with 8.6 percent.
CETREX highlighted that gold coffee was the country’s main export product during this period followed by meat, gold, dairy products, sugar cane and peanuts.
Nicaragua’s economic activity has shown high growth rates during 2011, according to the latest economic report published by the Central Bank of Nicaragua (BCN, for its acronym in Spanish). During the second quarter of 2011, the gross domestic product (GDP) grew 5.2 percent, which represents an increase of 3.1 percentage points when compared to the second quarter of 2010. Furthermore, the Government of Nicaragua projects to close 2011 with a GDP growth between 3.5 and 4.0 percent.
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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.