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.

More on this topic

Tobacco Sector Exceeds Expectations

November 2017

In the first ten months of 2017, tobacco exports totaled $188 million, and the union of Nicaraguan producers estimates that by the end of the year they will have exceeded the annual goal of $218 million.

The $188 million generated from tobacco exports between January and October of this year represents 85% of the goal set by the tobacco industry for this year.

Nicaragua: Tobacco Exports Up 11%

January 2017

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.

Nicaragua: Cigar Exports to the U.S. Up 42%

April 2014

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

Nicaragua has become the second largest supplier of cigars in the United States, behind the Dominican Republic. Exports increased from $25.8 million in 2012 to $37.3 million in the last year, according to the Center for Exports.

Nicaragua Tobacco In Good Health

October 2013

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

Commercial and financial entities expect tobacco sales abroad to increase, with supply which includes world class cigars.

Prensa-latina.cu reports: "Central Bank calculations and the Directorate General of Customs Services state that industry sales (including the operations of those in free zones) could represent 4% of national exports in 2013."

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