In line with the overall performance of Nicaraguan exports, between January and May sales of harnesses abroad totaled $220 million, 14% less than in the same period in 2017.
According to figures from the Central Bank of Nicaragua (BCN), in the first five months of 2018 exports from the free zone totaled $1.179 billion, of which 19% corresponded to sales of harnesses.
After a not very encouraging 2017, manufacturers of harnesses and electrical parts for vehicles intend to increase exports this year.
The best prospects for the automotive industry in the United States, the main destination for harnesses and electric parts for cars manufactured in Honduras, are motivating Honduran industrialists, who plan to increase production and sales abroad.
The French automotive group Delfingen will be building a vehicle wire harness manufacturing plant, and its entry into operation is scheduled for the first quarter of 2018.
The 1,500 square meter factory will specialize in the manufacture of electrical protection solutions for automobiles.
Between January and September the value of exports amounted to $509 million, registering an increase of 22% compared to the same period in 2015 and 29% in volume.
The monthly report by the Ministry of Foreign Trade specifies that the export of harnesses represented 14% of total exports from Nicaragua during the first nine months of the year.
The report said that exports of harnesses, along with garments and clothing, were those that were the most buoyant of all the exports under the free zone regime. "... Together they had a share of 58.4% in January-September 2016. "
Although clothing and car wiring harnesses continue to lead, the number of types of goods exported under the free zone regime has gone from ten in 2008 to 20 today.
Production and export of clothing and wiring harnesses are still the main goods produced and exported under free trade zone conditions, but now others have been added such as as cigars, edible oil, fruits, leather shoes, paper, cardboard, and manufactured leather covers for furniture.
Representatives of vehicle assemblers in Puebla will be meeting with Honduran entrepreneurs engaged in making auto parts in October.
From a statement issued by the President of Honduras:
San Pedro Sula, August 9.Representatives of the major vehicle assemblers in Puebla (Mexico) will be visiting Honduras in October to meet with Honduran entrepreneurs engaged in the development of auto parts, announced today President Juan Orlando Hernandez in San Pedro Sula.
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.
In March this year, the textile and manufacturing industries, including the manufacturers of wire harnesses and garments, grew by 3% compared to the same period in 2013.
A report by the Office of Textiles and Apparel (OTEXA), at the International Trade Administration of the United States, details the recent performance of the maquila industry in Honduras and locates the country as the fourth largest producer of fabrics in the world.
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.
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.
During 2012, free zone exports stood at $1.9038 billion, equivalent to a growth rate of 8.6%.
Information published by the Central Bank of Nicaragua (BCN):
In 2012, free zone exports stood at $1.9038 billion, equivalent to a growth rate of 8.6%.The sectors which participated the most in the absolute growth of exports from the free zone in relation to 2011 were chasis, which contributed $65 million (42.9% of total), fishing, $37.6 million (24.8%), textiles, $32.2 million (21.3%) and tobacco $23.1 million (15.3%), among others.
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