Nicaragua Sees Significant Increase in Exports

    WASHINGTON, DC, March 21, 2010 /24-7PressRelease/ -- 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.

Website: http://pronicaragua.org

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