Less Employment in Free Trade Zones

The decline in the number of companies in Nicaragua's free trade zones partly explains the loss of nearly 1,700 jobs in the first two months of the year.

Tuesday, June 4, 2019

Figures from the Central Bank of Nicaragua (BCN) show that between December 2018 and February 2019, the number of workers decreased by 1,697, from 125,550 to 123,853.

The number of companies in free trade zones also fell at the beginning of the year, from 194 in December 2018 to 187 in February 2019.

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Dean García, executive director of the Nicaraguan Association of the Textile and Clothing Industry (Anitec), told Elnuevodiario.com.ni that "... it is known that there are at least three companies that had closed since last year, but until now it was processed their exit from the free zone regime scheme."

Garcia added that "... it would be necessary to review among these closed companies which are recent and which are from previous periods. In the textile sector I can say that there were three companies that had closed officially long ago.

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More on this topic

Minimum Wage Increases in Free Trade Zones

January 2019

On January 5th, 2019, an 8.25% increase in the minimum wage for workers in free trade zones came into effect in Nicaragua.

According to the Ministry of Labor, the minimum monthly wage in the free trade zones last year reached $168 during 2018, and with the increase in force since the beginning of the year, the minimum monthly payment will be $182.

Demand for Textiles Stagnates

June 2012

After strong growth in the early part of the year, textile mills in the free zones of Nicaragua are reducing their workforce due to falling orders from the U.S.

In January and February, customer demand in the U.S. grew by 55%, but has declined in recent months according to the growth of inventories, said representatives of companies in the textile zones.

Record Employment at Nicaraguan Free Trade Zones

March 2011

Companies operating under the free zone regime reported a total of 89.927 employees to December 3, 2010.

According to the Central Bank of Nicaragua, this is the highest number of jobs for the sector, since February 2008 when 89.198 persons were employed.

Representatives of the textile sector, which own the majority of the 148 companies operating under the free zone regime, state there are 2 factors leading to employment recovery,"... tripartite working arrangements and the U.S. market recovery, Nicaragua's largest trading partner," reported Laprensa.com.ni.

Nicaragua: 19 thousand jobs lost in 2008

November 2008

The Free Zone industry lost 19000 jobs, but there is some hope that some will be recovered as a Mexican Consortium could replace at least 9600 jobs.

The figures were estimated by Dean Garcia, a representative of the Nicaraguan Textile Manufacture Industry, Anitex.

He said that the C&C Mexican investors bought three of the companies from Nien Hsing, that are set up in the Las Mercedes free zone.

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