Exports Rebound, But Pessimism Continues

Although between January and September 2019, Nicaraguan exports grew 2% compared to the same period in 2018, businessmen say it is because of an atypical behavior of gold and fish sales, not a general improvement.

Tuesday, October 8, 2019

According to figures from the Center for Export Procedures (Cetrex), between January and September 2018 and the same period in 2019, sales of companies in Nicaragua abroad went from $2.075 million to $2.108 million.

This rise comes after multiple falls in exports, which are explained by the complicated economic and social situation the country has been going through since April 2018.

See "Nicaragua: Exports Decline 6%"

Guillermo Jacoby, president of the Association of Producers and Exporters of Nicaragua (APEN), told Laprensa.com.ni that "... You have to analyze the data well because in the case of gold there was an economic transaction, buying and selling a mine which occurred this year and that does not happen every year. In addition, it is entering the records of the fishing, the statistics of a Peruvian ship that passes through the country, but it should not be so."

Figures show that in the first nine months of the year, golden coffee was the main export product, generating income of $418 million, followed by beef, whose foreign sales amounted to $362 million.

The article adds that "... For its part, gross gold is ranked as the third largest export product and has provided foreign exchange in the order of 359.72 million dollars, 72.96 million dollars more than last year and according to Jacoby the increase in foreign exchange is causing a distortion in the sector.

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Nicaragua: Exports Up 15%

March 2020

During the first two months of the year, the country's sales abroad amounted to $519 million, 15% more than the same period in 2019, a rise that is explained by the increase in international prices.

Figures from the Center for Export Procedures (Cetrex) detail that between the first two months of 2019 and the same period of 2020, exports increased by $68 million, from $450 million to $519 million.

Rebound in Exports, Despite the Crisis

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In a context of economic recession, Nicaraguan exports have recorded good performance, as to November 2019 revenues totaled $2,536 million, 4% higher than reported in the same period of 2018.

Figures from the Centro de Tramites de Exportaciones (Cetrex) detail that between January and November 2018 and the same period in 2019, foreign sales increased by $89 million, going from $2,447 million to $2,536 million.

Nicaragua Loses Trade Partners

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During the first five months of the year, exports totaled $1.145 million, 10% less than in the same period in 2018, and export destinations also declined in the period concerned.

According to data from the Centro de Trámites de Exportaciones (Cetrex), between January and May 2018 and the same period in 2019, foreign sales decreased by $134 million, going from $1.279 million to $1.145 million.

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The promotion of Nicaraguan firms in international markets during 2011 has already borne fruit in closed deals for $20 million.

During recent participation in Mexico’s Food Fair, six companies were able to do business with the Aztec nation, including Agropecuaria de Exportaciones, Parmalat Centroamérica and Cafetalera Castellón.

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