Rebound in Exports, Despite the Crisis

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.

Tuesday, December 10, 2019

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.

According to businessmen, the increase in the price of gold exports is the main reason for foreign sales revenues to report a favorable behavior.

Guillermo Jacoby, president of the Association of Producers and Exporters of Nicaragua (APEN), explained to Laprensa.com.ni that "... Prices rose by 8.4% and that compensated the fall in volume, meaning that exporters did not take advantage of the increase in prices, the only one that took advantage was gold, but if you take the gold you will have a fall in value, it is important to clarify that the growth of gold is atypical, next year I do not believe that gold will have the same behavior and that is where we will see a fall in exports."

Other products did not suffer the same fate as gold. The article adds that "... in the prices of the top twenty products, this went from an average of $1.92 per kilogram last year to $1.89 this year. Among the main products are coffee, beef, gold, sugar, peanuts, among others."

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More on this topic

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.

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.

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. 

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