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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