Tobacco: Good Sales in Times of Crisis

Despite Nicaragua's political and economic crisis, tobacco exports in 2018 totaled $222 million, 10% more than in 2017.

Tuesday, April 16, 2019

Statistics from the Central Bank of Nicaragua (BCN) show that between 2017 and 2018 sales abroad under the free trade zone regime increased by $20 million, from $202 million to $222 million.

Elnuevodiario.com.ni reviews that "... Nicaraguan cigars have reached several countries, mainly the United States and European markets, where sales have grown in recent years."

The article adds that "... In Nicaragua, about 4,500 hectares of land are planted with tobacco, mainly in the department of Estelí and on the Island of Ometepe, in Rivas."

This increase occurs in the context of a national political and economic crisis, which began in April 2018 and its effects continue to affect the Nicaraguan economy.

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Tobacco: Booming Industry in Nicaragua

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In 2016 foreign sales of cigars grew by 11% over 2015, reaching $178 million, of which 84% were destined for the US market.

Figures from the General Directorate of Customs indicate that Honduras and Germany rank second and third in the list of target markets for Nicaraguan cigars. Between 2014 and 2016, growth was 10%, going from $148 million to $178 million.

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During 2013 sales of cigars to the U.S. market totaled $37 million, equivalent to 118.9 million units.

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Projections are of $159 million in exports by the 25 companies that make up the Nicaraguan tobacco industry.

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