Nicaragua: Free Zone Exports Up 13%

In the first half of the year sales to outside of the free zone regime were $1.138 billion, up 13% from the $1.007 billion generated in the same period in 2013.

Tuesday, August 26, 2014

The presence of new foreign firms operating under the regime and the rise in the volume produced, despite a reduction in some prices in the international market, explain the 13% increase in exports from the sector.

Dean Garcia, executive director of the Nicaraguan Association of Textile and Apparel (Anitec) told Laprensa.com.ni that "... this recovery is due to higher production volumes, although some international prices are depressed due to the presence of new investment companies that have set up."

He added that "... 'We must take into account investments in the free zone in wire harnesses such as the expansion of the Japanese company Yazaki (...), I understand that tobacco companies are also producing more.'"



More on this topic

Export from Free Zones to Grow in 2018

January 2018

After having recorded a slight fall in 2017, companies in the free trade zone regime of Nicaragua plan to achieve a 5% growth in their exports this year.

One of the engines of growth that is expected to be achieved in 2018 is investments and reinvestments on the part of existing companies that are anticipated for this year. According to free zone entrepreneurs, between $300 million and $400 million could be invested.

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.

Nicaragua: Streamlined Procedures in Free Zones

July 2011

The reactivation of the Comisión Aduanera de Zonas Francas (Customs Free Zone Comission) will speed up the processing of this sector's imports and exports.

The executive director of the Nicaraguan Association of Textiles, Anitec, Dean Garcia Foster, said that in addition to streamlining procedures it will also create savings in operating costs.

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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