Nicaragua Loses Trade Partners

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.

Monday, June 10, 2019

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.

On the other hand, the number of trade partners fell from 97 to 89 between the first five months of 2018 and the same period of 2019.

Regarding the main destinations of foreign sales, Guillermo Jacoby, president of the Association of Producers and Exporters of Nicaragua, explained to Laprensa.com.ni that to May 2019 the first destination of exports is U.S. "... with 44% of the total, generating 506.12 million dollars in the first five months of the year. In second position is El Salvador, followed by Costa Rica and Taiwan, passing through Guatemala to fifth place and Mexico in sixth."

Sales to Venezuelan companies have fallen considerably, because of the situation in the South American country. Regarding the expectations of the business sector, Jacoby said that "... if there is a political change in Venezuela, the economic situation can be fixed and that potential market reopened.

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More on this topic

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.

Gloomy Prospects for Exports

June 2018

Nicaraguan business leaders estimate that in the months of June and July there will be drastic drops in exports.

In the first five months of the year, the country sold $1.282 billion worth of goods abroad, which is 2% more than what was reported in the same period in 2017. However, the business sector says that this increase was due to the fact that many exporters decided to liquidate most of their inventory at the beginning of the crisis. 

Nicaragua: Exports to Europe Recover

August 2017

In the first half of the year exports to European countries totaled $223 million, 46% more than in the same period in 2016.

The United Kingdom, Germany, Belgium, Italy and France were the main destinations of goods that Nicaragua exported between January and June of this year.  Gold coffee, shrimp, mangoes, cakes, okra, rum, cacao, sugar cane and leather footwear are the main export products. 

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