Friday 25 June 2021

Nicaragua Free Zones Lead Country’s Exports

zona-franca-nicaragua

TODAY NICARAGUA NEWS- “Zona Francas”, the free zone regime in Nicaragua is now the leader in exports of goods and services in the country, with foreign sales of over 2.19 billion dollars annually.

Just last year, the sector grew by 15.3 percent compared to 2012 and during the past six years the revenues generated by this sector increased by 133.4 percent.

- Advertisement -

The president of the Superior Council of Private Companies (Cosep), Joseph Adam Aguerri, noted that in 1995 the free zones contributed with the 14 percent of exports and by 2010 they represented 41 percent, while in 2013 they reached 48, he said quoted by El Nuevo Diario.

He also said that in 2001 the free zones generated 37,000 direct jobs and the end of 2009 these exceeded 71, 500.

At present there are about 109,000 direct jobs and around 327,000 indirect.

The production and export of tobacco, the industry palm oil, wood, footwear, manufacture of parts and assemblies to the automotive accessories industry and manufacturing are some of the activities that generate more revenue in the sector.

- Advertisement -

The country has registered 174 companies using the free zone regime, which has 45 industrial parks across the nation.

Traditional exports of goods excluding free zones also grew more than tripled since 2004, according to the Central Bank, and the end of July they have raised 1,632 million dollars.

Article by Today Nicaragua, reposted with permission

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Alternating odd and even plate restrictions returns starting tomorrow

QCOSTARICA - The vehicular restrictions return to odd and even plates...

Costa Rica achieved a record for qualifying for the Olympic Games

QCOSTARICA - The Costa Rican judoka Ian Ignacio Sancho Chinchilla became...

MOST READ

Facts and Career Opportunities for Positioning and Popularity of a Casino Dealer

Are you thinking about becoming a casino dealer? If you’re a Hungarian citizen, we’ll tell you more about what you need to know. You...

Alternating odd and even plate restrictions returns starting tomorrow

QCOSTARICA - The vehicular restrictions return to odd and even plates starting tomorrow, Saturday, June 26 and continue to Sunday, July 11. The big change...

Nathalie Álvarez Mesén’s feature debut, Clara Sola, ready for the Cannes Directors’ Fortnight

Q ENTERTAINMENT (CINEUROPA) Nathalie Álvarez Mesén’s debut feature, Clara Sola, is ready to take part in this year’s Directors’ Fortnight at the Cannes Film...

Preventive operations to protect tourists visiting the Guanacaste Conservation Area

QCOSTARICA - The Ministry of Public Security (MSP) and the National System of Conservation Areas (SINAC) joined forces to prioritize ecological operations, which aim...

Will that be Cash or Sinpe Móvil?

QCOSTARICA - Sinpe Móvil is easy to use. From your phone, you can send money to friends, family and pay for things. Or receive...

Pandemic reinforces the Costa Rica’s attractiveness as a global destination for wellness tourism

QCOSTARICA - The pandemic caused by Covid-19 fuels the strategy of positioning Costa Rica as a world destination to develop wellness tourism, since travelers...

Today’s Vehicle Restriction June 22: plates ending in 3 & 4 CANNOT circulate

Today, Tuesday, June 22, plates ending in 3 & 4 CANNOT circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save...

First five months of the year reflect recovery of Costa Rican exports

QCOSTARICA - The value of Costa Rica exports increased by 23% in the first five months of the year, being the highest growth in...

Flight paralysis from Canada hits Costa Rica’s tourism

QCOSTARICA - The paralysis of flights from Canada last January hit Costa Rica's tourism sector, as Canada was the second source market for tourists...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.