The service outsourcing industry in the country generated a yearly revenue of $6 million in 2008, and nine years later, the industry's revenue is close to $150 million.
Currently 45 companies operating under the free zone regime are engaged in outsourcing services in the country.This figure far exceeds that of 2007, when there were 12 companies in this sector.The incentives provided by the free zone scheme, coupled with the low labor cost demanded by these types of service centers, explain much of the growth that this market has experienced in the country.
At the end of the first half of the year maquila textile exports to the United States grew by 13% compared to the same period in 2015.
Figures from the biannual report by the US Office of Textiles and Clothing (OTEXA) show that between January and June Nicaragua sold 255 million square meter equivalents (SME) to the United States generating revenues of $708 million.
A bill that is being analyzed by the U.S. Congress aims to reduce the level of tariff preference to only 6% of imports from Nicaraguan textile factories.
Although the possibility exists of an extension of the current Tariff Preference Level (TPL) until 2015, American congressmen have proposed that the benefit be granted only on cotton pants, which represent the lowest proportion of Nicaraguan textileexports to the United States.
After exporting 120 million cigars in 2012, Nicaraguan tobacco companies aim to reach 150 million units in sales in 2013.
If the sale goal is achieved, Nicaragua will have positioned itself as the leading exporter of cigars, removing the Dominican Republic from the top position.
Millknit Industries will begin operations in early 2013, producing fabrics for clothing companies established in the free zones.
Following the closure of Core Denim in 2009, Nicaragua has had no cloth production, which is a disadvantage for the clothing sector, which has to import its raw materials.
Nicaragua now has a surplus of $1 billion and trade with the country has grown by 75% in six years, thanks to the DR-CAFTA, overtaking Guatemala and the rest of the region.
Six years after coming into force and following record levels of growth in trade and investment, Nicaragua has become the region’s unlikely poster child for DR-CAFTA.
Most notable are the opportunities in agriculture "because there is a lot of land" for production in sectors such as cocoa, rubber, oil palm and sugar.
A delegation of businessmen and government officials from Nicaragua will meet with Guatemalan entrepreneurs from the agricultural sector in order to persuade them to invest in their country.
Exports from companies in the free zone in Nicaragua grew by 44% in the first four months of the year.
The Technical Secretary of the National Commission of Free Zones, Alvaro Baltodano announced projected exports of $1,750 million by the end of this year, of which the textile sector would provide $1,350 million.
The Venezuelan Government is negotiating the purchase of 10 million jeans produced in Nicaraguan Free Zones.
A trade mission from Venezuela, which includes Government authorities and private businessmen, is touring Nicaragua’s free zones. Alberto Baltodano, technical secretary of the National Free Zone Commission (CNZF), remarked that this deal would imply $100 million in revenue for the textile sector.
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