More Trade between Colombia and Nicaragua

Growth of more than 300% has been reported in Colombian exports to Nicaragua between 2016 and 2017, mainly explained by the sales of oil and its derivatives.

Thursday, February 15, 2018

Data from ProColombia provided by the Colombian Embassy details that exports from the mining sector led the growth of 362% reported in exports between 2016 and 2017. Exports from other sectors, such as agri-food, metal-mechanics and chemicals also registered double-digit increases. 

A press release reported on by Elnuevodiario.com.ni points out that  "... the value of Colombian oil exports to Nicaragua, in 2017, approached US $40 million, compared to US $8.84 million in 2016. Other sectors that have shown significant growth in their exports are: pneumatic tires, agricultural machinery, motorcycles, cosmetics, pigments and paints, fertilizers, fungicides, herbicides and veterinary pharmaceutical products. "

"... Among non-mining exports, the agrifood sector grew by 166%, going from US $950,989 in 2016 to US $2.5 million in 2017. Exports from the category "metalworking and other industries" also had an outstanding growth of 122%, going from US $6.6 million to US $14.5 million."

Last year, Nicaragua repealed Law 325, which has established a 35% tax on Colombian imports since 1999. 

More on this topic

Costa Rica: Foreign Trade Figures - I Semester 2017

July 2017

Between July 2016 and June 2017, exports of precision and medical equipment, rubber, agricultural products, and metallurgical products increased by 15%, 8%, 7% and 23%, respectively, compared to the previous 12 months.

The sectors that showed the most notable growth in exports (July 2016 - June 2017 vs.

Colombian Investments in Costa Rica

March 2015

38% of the colombian companies who have invested in the country are dedicated to services, 28% to industry, 11% to construction and 23% to tourism, commerce or agriculture.

The service, food and manufacturing sectors are generating the most interest among Colombian investors, who in the last ten years have invested about $750 million in Costa Rica.

Business Meetings Colombia - Guatemala

January 2015

The union of exporters is preparing a meeting for May with Colombian and Guatemalan companies to look at opportunities offered by the FTA signed between the two countries.

From a statement issued by the Guatemalan Exporters Association (Agexport):

Under the framework of the Export Council for Mesoamerica and the Caribbean at AGEXPORT, the Department of Trade Promotion and ProColombia, held a meeting to organize a major event for next May.

Colombia Increases Fruit Exports to Europe

January 2015

Between January and October 2014 the South American country exported 18% more fresh fruits to the European Union, as a result of the tariff benefits arising from the agreement.

From a statement issued by the Costa Rican Foreign Trade Promotion Office (Procomer):

The tariff benefits coming from the Free Trade Agreement between Colombia and the European Union (EU) are promoting new exports, said ProColombia.

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