The 5% growth of GDP in Nicaragua in 2011 was stimulated by the portentous growth of the mining sector, at nearly 30% a year, of which the extraction of gold stands out the most, said a report by the Nicaraguan Foundation for Social and Economic Development (FUNIDES).
Mining activity recorded a growth rate of 29.7% up to October, followed by the construction sector with 18.4% and livestock with 11.1% growth, according to the Monthly Economic Activity Index (IMAE) released by FUNIDES, reported the online edition of La Prensa.
"The growth of the mining sector, thanks to the strong oil prices, was so strong, that the statistics from the Nicaraguan Social Security Institute, INSS, show that it is the activity that insured the most workers, with a growth rate of 22.6% up to November. As for wages, according to the report, the mining sector had the highest growth, with a rate of 6.7% in November 2011, followed by the construction sector with 4.7%," reported La Prensa on its website.
Source: elnuevodiario.com.ni
More on this topic
November 2011
Foreign sales of gold in the year up to October reached a record $291.5 million, the largest in history.
According to data from the Center for Exports (CETREX), gold has become Nicaragua’s third largest export.
"Meanwhile the Canadian company B2Gold Corp, a major mining company operating in Nicaragua, confirmed that between January and September their adjusted net income, ie excluding deferred income tax, compensation through stock and foreign exchange gains or losses, totaled $57.2 million, while gold production reached 105,796 troy ounces", reports Mario José Moncada for Laprensa.com.ni.
August 2011
Exports of gold have topped the list of goods sold abroad; in the first 5 months of 2011 they totalled $43.1 million.
The industry has almost tripled compared to the same period in 2010, when sales were $15.2 million, and has displaced products like bananas, pineapples, meat and fish.
February 2012
A subsidiary of the Canadian mining company Petaquilla Minerals Ltd. Has received recognition as the largest exporter in Panama on behalf of the Panamanian Association of Exporters (APEX).
In a recent ceremony, the president of APEX presented a plaque of honor in recognition of the Canadian mining company, which extracts gold in Panama.
December 2011
Up to the end of July Panama had exported 1.592 kg of gold valued at $64.4 million, up 15% compared to the same period in 2010.
A press release from the Ministry of Economy and Finance reads:
At the end of July Panama had exported 1.592 kg of gold worth $ 64.4 million, 15%, $ 24.6 million more than that recorded in 2010, when it exported 1.515 kilograms equivalent to $ 39.8 million, highlights the Social and Economic Report for July issued by the Ministry of Economy and Finance.
español
1895
