Home / Knowledge / News / Textiles / Nicaragua textile exports expected to reach $2.5bn in 2014
Nicaragua textile exports expected to reach $2.5bn in 2014
31
Jan '14
Nicaragua expects to reach US$2,500 million in traditional exports and a similar amount in the textile industry based on an increased investment and increased production in the free zones in 2014. General Presidential Delegate for Investments, Alvaro Baltodano, stated that these figures exceed total exports of last year, which were around US$4,700 million, including textiles.
 
Preliminary numbers stated that in 2013 the value of exports of Nicaragua totaled US$2,566 million, 13.95 percent less than the sales of 2012. And the textile sector exported around US$2,150 million, according to the presidential delegate PRONicaragua. 
 
"We have significant investments in the country that will increase product exports," said Baltodano. Among them, the Honduran group Karim’s will invest US$35 million in the reopening of a textile plant in Nicaragua, which had temporarily closed its operations due to the economic crisis of 2009.
 
The President of that group, Yusuf Amdani, stated to reporters that the textile company, which was operated by the U.S. firm Cone Denim, of the International Textile Group, and will now be named Pride Denim Mills, will generate 600 direct jobs in its first phase. According to Amdani, the company will produce denim fabric, incorporating from spinning to finished fabric, an annual production capacity of 28 million yards.
 
Similarly, the German company Draexlmaier will invest US$10 million in the expansion of their automotive harnesses plant in the department of Masaya, Nicaragua. In the same way, Grupo Lala, one of the largest dairy companies in Mexico, will invest about US$50 million in the country in order to set up a milk processing plant and dairy products.
 
Last year was also a year of growth for Nicaragua’s investment, registering an estimate of US$1,500 million in terms of foreign direct investment (FDI) inflows at year end, a 17 percent increase compared to 2012 and marking the highest historical figure the country has ever reached.

PRONicaragua

Must ReadView All

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Courtesy: Bebe

Apparel/Garments | On 24th Mar 2017

Bebe Stores exploring strategic alternatives

Bebe Stores has announced that its board of directors is exploring...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search