Nicaragua: Sales to Europe Decrease by 9%

Because of the behavior of exports made to the United Kingdom, Germany and Italy, between 2017 and 2018 the sales of the Central American country to the member states of the European Union fell from $307 million to $280 million.

Friday, January 11, 2019

According to figures from the Centro de Trámites de las Exportaciones (Cetrex) last year, exports from the country to the United Kingdom reported a 11% decrease over 2017. In the case of sales to Italy the decline was 16% and Germany 18%. reviews that "... Of the 23 European countries that bought Nicaraguan products, 16 experienced a reduction and only 7 registered an improvement: Belgium, Cyprus, Spain, Honda, Hungary, Ireland, Lithuania and Romania, of this group only two countries bought representative amounts; Belgium with US$50.63 million, Holland with US$22.16 million and Spain with US$15.98 million, the rest recorded purchases below US$100.000."

The article adds that "... Belgium was the second most important destination, accounting for 18.03% (US$50.63 million) of exports. These showed a slight growth of 0.3% compared to 2017 when it reached US$50.49 million."

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In the last ten years, exports from Costa Rica to countries in the European Union grew from $840 million in 2007, to $1.678 billion in the third quarter of this year.

Medical devices, bananas, pineapples, and coffee are some of the products responsible for most of the growth in exports to European countries in recent years.  For example, as of September of this year, Procomer figures indicate that "... the European Continent represented 22% of sales this third quarter, with a total of US $1.753 billion (+ US $146 million). Among the main drivers, were: banana, with exports to Belgium, the United Kingdom and Ukraine; medical devices, which boosted exports to Belgium and the Netherlands; as well as greater exports of pineapples to Portugal and coffee to the Netherlands."  See "Costa Rica: Foreign trade figures as of September 2017"

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The fairs organized by European countries and trade missions by Guatemalan businessmen, together with the government, are two of the reasons for the increase in exports to countries like Germany, Italy and Belgium, among others.

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