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.
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.
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.
In Nicaragua, authorities reported a decision to suspend collection of the additional fee of $0.05 for each kilogram exported or imported by air.
The extra charge came into effect last April 25, but from the beginning the private sector spoke out against it, because it was argued that the tariff that the Nicaraguan government would apply, would put some local companies on the border of closure and cause a decrease of about $50 million annually.
The plan to impose a 5% tariff on Mexican products entering the U.S. would open up opportunities for Central American countries to increase their sales to the U.S., but there are fears that similar measures could be taken against the region.
On May 30, President Trump announced on his Twitter account that he plans to impose a 5% tariff on Mexican products entering the U.S. market, this as pressure for Mexico to be more effective in its efforts to contain the massive arrival of Central Americans to the country.
With the approval of the tax reform, in Nicaragua the period for exporting companies to transfer the tax credit to the producer or manufacturer was reduced from three to two months.
At the end of February, the National Assembly approved the amendment to the Tax Concertation Law, which increases from 1% to 3% the income tax of large taxpayers and also shortens the deadline for exporters to transfer the tax credit to producers, which is 1.5% on the value of FOB exports.
The year-on-year fall of 3.5% reported in exports up to January 2019, results from the contraction of coffee, sugar, peanut and fish sales.
Statistics from the Center for Export Procedures (Cetrex) indicate that between January 2018 and the same month in 2019, the country's foreign sales decreased by $8.5 million, going from $239.5 million to $231 million.
Even though in 2018 cocoa was better quoted internationally, the volume sold abroad fell 8% compared to 2017, going down from 4,238 to 3,886 tons.
In contrast to the negative variation in the volume traded, figures from the Export Processing Center (Cetrex) detail that between 2017 and 2018 the value of exports registered a 18.9% growth, increasing from $5.3 million to $6.3 million. This increase is explained by the behavior of the grain price.
The exporters' guild estimates that the new year will be difficult for the country's economy, since there are multiple factors that threaten the growth of foreign sales.
The Association of Producers and Exporters of Nicaragua (APEN) reported that the expectation of year-on-year increase in export revenue for 2018 ranged between 6% and 10%, however, there was a 1% decrease.
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.
Between April 18 and May 7, the volume of goods exported totaled 138.4 million kilos, 7% less than the volume exported during the same period in 2017.
"... According to figures provided by the president of the Association of Producers and Exporters of Nicaragua (APEN), Guillermo Jacoby, the volume of Nicaragua's exports amounted to 138.4 million kilograms in those 20 days, 10.8 million less than in the same days in April 2017."
In the last five years, exports of oranges amounted to only $49 million, but the union of exporters believes that markets such as the United States and Europe are not yet being fully exploited.
Increasing the cultivated area to take advantage, for example, of the negative effect of the climatic phenomena on orange plantations in Florida, USA, is one of the suggestions of the Association of Producers and Exporters of Nicaragua (APEN) to increase business for citrus growers.
The cacao producers union is planning to produce this year close to 1,500 tons of cocoa, 25% more than the production recorded at the close of 2017.
Last year the export value went down 4%, due to unfavorable conditions in international prices, but the export volume grew by 34%, according to data from the Association of Producers and Exporters of Nicaragua (Apen).Guillermo Jacoby, president of the Apen, explained to Elnuevodiario.com.ni: "...'Wewent from 4.2 million kilos to 5.5 million kilos last year'."
Through an agreement between the union of exporters and the Franco - Nicaraguan Chamber of Commerce, the aim is to increase opportunities to export to the French market.
The collaboration agreement between the Association of Producers and Exporters of Nicaragua (APEN) and the Franco-Nicaraguan union will allow SMEs to find out about and understand the French market and take advantage of the export opportunities it offers.
In the first half of the year exports to European countries totaled $223 million, 46% more than in the same period in 2016.
The United Kingdom, Germany, Belgium, Italy and France were the main destinations of goods that Nicaragua exported between January and June of this year. Gold coffee, shrimp, mangoes, cakes, okra, rum, cacao, sugar cane and leather footwear are the main export products.
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