Ethnic beverages, tiger nut milk and barley will now pay a 9% tariff when entering the United States.
Wednesday, September 16, 2009
Until last year, these products entered the country tariff-free.
"The Department of Internal Security analyzed the products and removed the tariff exoneration, arguing they are in the category of powder drinks with more than 29% sugar. They also warned to retroactively charge the tariff beginning 2007", reports Elsalvador.com. "Another product also affected is panela caramel, which was part of CAFTA-RD".
As of May 2017, fishing and carton production recorded sales of nearly double in relation to what was observed in 2016, and they are still growing at rates of 10% and 40% respectively.
The Foreign Trade report by the Central Bank of Nicaragua states that"fishing and cardboard production recorded sales of almost double in relation to what was observed in 2016 and continue to grow at rates of 10.4 percent and 40.2 percent, respectively."
In the first five months of the year, Honduran exports of non-traditional products totaled $575 million.
According to the Honduran Central Bank's Foreign Trade Report, sales of non-traditional products totaled $1.27 billion in the period.
The general manager of the country's Federation of Agricultural Exporters (FPX) told Laprensa.hn that, "it's good news because it's important for Honduras to export more non-traditional products than coffee and bananas since prices of these fluctuate and non-traditional industries have historically had a buffering effect. However it is hoped that these products can increasingly take a more central role".
Exports of nontraditional products are growing at a faster pace than exports of traditional ones (coffee, banana, cardamom and sugar).
In 2009 total exports summed $7.23 billion. Of them, $5.41 billion corresponded to nontraditional goods (74.9%).
“Data from Banguat shows that in 1980 the country exported $1.52 billion, of which $633 million were traditional goods and $886.4 million were nontraditional ones (58.3%)”, reported Sigloxxi.com.
The non-traditional products sector closed 2008 with $2.9 billion in exports.
According to the article published by the Prensa Libre daily, "...the chemical subsector is in first place with $900 million in exports, followed by food at $275 million, and construction materials at $208 million and then plastics at $138.4 million."