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Last year, Nicaragua repealed Law 325, which has established a 35% tax on Colombian imports since 1999. 

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