Nicaraguan Export Figures Reach New Record During 2011

Posted by Gran Pacifica on Jan 18, 2012 3:17:58 PM

The Center for Export Procedures (CETREX, for its acronym in Spanish) recently stated in a preliminary report 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.

By: ProNicaragua

Gran Pacifica

Written by Gran Pacifica

Gran Pacifica is a master planned community of over 2500 acres and 3.5 miles of Pacific coast line an hour west of Managua in Nicaragua. The company focuses on providing their international and domestic clientele with communities that feature first-rate amenities and infrastructure including underground utilities, paved streets and sidewalks. Gran Pacifica's primary demographic is North American Retirees and vacation homes in Nicaragua owners who enjoy living in a robust beach and golf community.

Topics: Investing in Nicaragua