Nicaragua: Exports Up 15%

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.

Wednesday, March 11, 2020

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.

Data detail that beef sales were the main export item, followed by raw gold, coffee and sugar.

Guillermo Jacoby, president of the Association of Producers and Exporters of Nicaragua (APEN), told Laprensa.com.ni that "... More than half of the increase is in gold. International commodity price increases continue to rise. This implies that exports will continue to increase if this trend continues."

Jacoby added that he was "... concerned that Covid-19 will affect global consumption and that prices will fall again. This raises concerns about the global economic impact and what investors will do."

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More on this topic

Commodity Prices Benefit Nicaragua

June 2021

Due to the high demand for commodities, it is estimated that prices in the international market have increased on average between 30% and 40%, a situation that favors Nicaraguan exporters of raw materials.

According to local businessmen, the price of coffee has climbed to historic highs, since last week it was quoted at $170 per quintal, a price that has not been registered since years ago.

Rebound in Exports, Despite the Crisis

December 2019

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.

Exports Rebound, But Pessimism Continues

October 2019

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.

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.

Nicaragua Loses Trade Partners

June 2019

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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