Commodity Prices Benefit Nicaragua

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.

Thursday, June 10, 2021

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.

In this context of economic crisis and recovery of production, agents have continued to trust in gold and have sheltered their investments in this precious metal. As a result, the price has been pressured upwards.

Guillermo Jacoby, president of the Association of Producers and Exporters of Nicaragua (APEN), told that "... in the coming months exports could continue at this pace, because there has been an increase in commodity prices, i.e. an increase in primary products, worldwide. 'They are between 30 and 40 percent above previous prices, there has been a great demand'."

Regarding what can be expected for the coming months, Jacoby added that "... 'there is a demand for the products Nicaragua exports and I don't think international prices are going to stay high next year, I think this is a post-pandemic rebound effect'."

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Nicaragua: Exports Up 15%

March 2020

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.

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.

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.