Nicaragua: The Country with the Highest Increase in Exports in Central America

    WASHINGTON, DC, June 17, 2010 /24-7PressRelease/ -- According to the Central American Integration System (SICA for its acronym in Spanish), the Central American economies have left the crisis behind and have begun to recover.

After 18 months of instability, the clearest sign of recovery is the growth of exports that, excluding apparel manufacturers, reached US$5,923.5 million during the first quarter of 2010, with an average monthly growth rate of 8.6 percent. The report (excluding Panama and Belize) noted that Nicaragua recorded an export growth of 32 percent, Costa Rica, El Salvador and Guatemala between 15 and 18 percent, and Honduras a modest 0.4 percent.

The increase in exports is attributed, in part, to increased U.S. demand for imported goods from the isthmus. The report, measuring exports from January to March, also revealed the importance of exports of agricultural products such as coffee, bananas, sugar, dates and palm oil, but also medicines, electronics and processed foods, among others.

Nicaragua's One-Stop Shop for Exports (CETREX, for its acronym in Spanish) noted that gold coffee is Nicaragua's leading export product, followed by beef. Income generated by coffee exports amounted to US$191.78 million in the first five months of 2010, 60 percent more than the US$120.17 million registered in the comparable period of 2009, due to higher production and better prices.

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).

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.

Website: http://pronicaragua.org

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