Nicaragua's Exports Increase Significantly

    WASHINGTON, DC, May 12, 2010 /24-7PressRelease/ -- 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 our country. For further information, please contact us at (505) 2270-6400 or at http://pronicaragua.org.

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