The production of the country's industrial sector started in 2015 with a bit more dynamism, with the Volume Index of Industrial Production increasing by 0.4% in January 2014 to 0.8% in January 2015.
A statement from the Central Reserve Bank (BCR):
Industrial sector shows signs of dynamism January 2015
The production of the industrial sector of the country started 2015 with more dynamic, as the result of Volume Index of Industrial Production -IVOPI-, which recorded an annual increase of 0.8%, the Central Bank reported; also noted that in the same month but in 2014, the index variation was 0.4%.
It has been reported that 63 foreign companies operate facilities for manufacturing medical supplies and devices in areas such as neuromodulation, dentistry, cardiovascular, orthopedics and endoscopy.
At the end of 2014 exports of medical devices totaled $1.9 billion, ie 19% more than reported in 2013. It is estimated that the manufacture of these products brings an estimated $0.55 of value added for each dollar exported.
An announcement has been made that the company Apollo Endosurgery is to set up a 1750 meter device manufacturing plant in the Coyol area in the province of Alajuela.
From a statement issued by the Costa Rican Coalition for Development Initiatives (CINDE):
Apollo Endosurgery, Inc., a US medical device company, today announced that it has chosen Costa Rica as a site to install its new manufacturing plant in Coyol, Alajuela, where it will develop a variety of products including LAP-BAND® System - the only device approved by the FDA for weight reduction in people with at least one health problem related to obesity and who have a Body Mass Index of 30 or more.
In the first nine months of the year $15.9 million worth of footwear was exported, which is 26% more than in 2013.
The sector's competitiveness in terms of labor costs, incentives to industry, preferential access to key markets and strategic location of the country, are the main factors attributed to the growth in exports of Nicaraguan footwear.
The Investment Promotion Agency of Nicaragua, told Elnuevodiario.com.ni that "...
For companies in the sector, the country has the right conditions to become a hub of global added value chains, but more zones need to be built.
The Panama Canal expansion will open up new opportunities in the field of logistics and value added, which according to representatives of the free zones, must be taken advantage of. One such emerging sectors has to do with the value chains.
Fresh chipilin leaves, edible chufle flowers, Izote flowers and pacaya and are the four agricultural products which received sanitation permits for entry to the US market.
From a statement issued by the Guatemalan Exporters Association:
News of expansion of the exportable agricultural supply from Guatemala to one of its main trading partners was met with great anticipation by the Agricultural export Sector, because it contributes to the AGEXPORT's strategy to continue captivating niche markets in the United States with new products.
The country wants to take advantage of the tariff preferences it has to export shoes to the United States and the European Union so as to attract foreign investment to the sector and turn it into an export platform.
From a statement by Pro Nicaragua:
All footwear manufactured in Nicaragua has duty free access to the United States, the European Union and other important markets.
The growth rate of 2.8% registered in August is the lowest since April 2013, with the manufacturing sector decelerating the most.
From a communication from 'Market Pulse' a Blog by Aldesa:
The rate of growth of economic activity in Costa Rica continues to decline and the national economy for August shows a yearly expansion of 2.8%. July growth was revised downwards from 3.4% to 3.1%.
The country will promote foreign investment in these sectors, especially in areas with less development further away from the Greater Metropolitan Area.
The Costa Rican Coalition for Development Initiatives (Cinde) will focus on promoting investment in these sectors, diversifying its strategy of attracting investment and giving greater emphasis to the development of areas further away from the capital, where there is a stronger link with the productive sectors and agribusiness.
The growing Mexican automotive industry is generating opportunities for the sale of chassis and autoparts from Nicaragua, as in the first quarter of 2014 revenue was generated of $152 million, which is 22% more than in the same period in 2013.
In the first quarter of 2014 sales of chassis to Mexico amounted to $152 million, 22.6% more than in the same period last year, according to Data from the Central Bank of Nicaragua.
Businessmen in Costa Rica attribute the outflow of $31 million in the first quarter of the year to the close down of operations of businesses in the sector who have decided to move to neighboring countries.
The outflow of capital from the manufacturing industry during the first three months of this year is $7 million more than left the country in the same period in 2009, during the economic crisis in the United States, according to detailed figures from the Central Bank of Costa Rica.
International buyers of food products, manufacturing and many other services will meet with Salvadoran businesses on May 13th.
This event, attended by 37 importers from 12 countries including Peru, Mexico and the United States and more than 100 Salvadoran exporters, is being run by the Investment and Export Promotion Agency of El Salvador (PROESA) with the aim of connecting local businesses with new customers on an international scale.
Bekaert and ArcelorMittal will be investing $20 million in a new plant for steel fibers to produce 20 thousand tons a year.
As part of a share restructuring process, looking for a new business configuration in Latin America, partners of ArcelorMittal, the global steel and mining company and Bekaert, a leader in the transformation of steel wire, have announced the installation of a new plant for the steel fiber Dramix ®, with plans to begin production in the second quarter of 2014.
More than half of total exports from Nicaragua in 2013 came from a group of only 13 companies.
An analysis of the issue by Ricardo Guerrero in elnuevodiario.com.ni highlights that foreign sales in 2013 from these 13 companies totaled "$1.3055 billion, more than half of the $2.566 billion which made up total exports in that year. They are the largest and most competitive exporters in the country, and behind each of them - 13 in total - there are thousands of beneficiaries, thereby generating a positive domino effect on production and the national economy. The numbers means that these companies manage to stand out among the more than 6,000 companies that generate foreign currency for the country. "
The loss of competitiveness due to costs, infrastructure backlog and delays in proceedings are forcing public sector companies to reduce their production and staff numbers.
The structural problems affecting the manufacturing sector explain the increasing shrinkage of Costa Rica's actual production. The lack of solutions to key issues affecting the productivity of Costa Rican industry is resulting in lower production and consequently less job creation.
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