The Export Market of Nicaragua: Trade Analysis of 2024

Nicaragua, located in Central America and bordered by Honduras, Costa Rica, the Pacific Ocean, and the Caribbean Sea in the North, South, West, and east directions, has emerged as a solidifying exporter of globally demanded categories in the international trade market. The trade statistics have reported that the upward trajectory has led to a year-on-year hike of 2.7% in 2024. The upgraded mining operations of Nicaragua and the surge in global demand have contributed substantially to the overall revenue rate. Nicaragua Import Data says that the free trade zones of the nation have strengthened the bilateral ties through efficient export of different commodities like agro industry essentials, textiles, and tobacco products.

The cross-border merchandise trade rose by 6.7% and the supportive macroeconomic policy environment, with improved access and logistics, has resulted in an export trade value of goods worth 8.23 billion US dollars in 2024. Import Globals a globally leading import export data provider with its Nicaragua Trade Data tailor to the specific trade acquisitions of the global market for keeping the business holders updated with the latest market information.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT OF NICARAGUA

The government initiatives of Nicaragua have been collectively working to foster the trade rate in a positive manner. The IDB-backed foreign trade program initiated by the authorities has established a trade promotion office in Europe while promoting the development of the National Export Quality Policy. The China-Nicaragua Free Trade Agreement Policy has also been pivotal for economic growth as it has facilitated participation in major trade fairs.

The Export Oriented Free Trade Policies have provided full duty-free status and other fiscal benefits, while PRONicaragua & One-Stop Services for Exporters and Investors have offered pre-investment guidance and supplier and partner connections to the small and medium enterprises for facilitating their trade.

THE LEADING VARIANTS OF GOODS EXPORTED FROM NICARAGUA

Nicaragua, with its efficient production capacity and stronger interaction with the trade partners, has built up a supply chain interaction in the global market. According to the Nicaragua Export Data, the top 10 leading variants of goods exported from the nation in 2024 are,

  1. Coffee — The total value of Coffee exported from Nicaragua in 2024–2.1 billion US dollars
  2. Gold — The total value of Gold exported from Nicaragua in 2024–1 billion US dollars
  3. Beef — The total value of Beef exported from Nicaragua in 2024–879 million US dollars
  4. Sugar — The total value of Sugar exported from Nicaragua in 2024–654 million US dollars
  5. Seafood — The total value of Seafood exported from Nicaragua in 2024–576 million US dollars
  6. Textiles — The total value of Textiles exported from Nicaragua in 2024–453 million US dollars
  7. Cigars — The total value of Cigars exported from Nicaragua in 2024–378 million US dollars
  8. Fruits & Vegetables — The total value of Fruits & Vegetables exported from Nicaragua in 2024–276 million US dollars
  9. Essential oils — The total value of Essential oils exported from Nicaragua in 2024–187 million US dollars
  10. Dairy products — The total value of Dairy products exported from Nicaragua in 2024–122 million US dollars

TOP 10 EXPORT TRADE PARTNERS OF NICARAGUA IN 2024

The globally adopted trade fairs and the increasing interaction with foreign investors have facilitated the maximum export connection of Nicaragua. According to the Nicaragua Customs Data, the top 10 export trade partners of the nation in 2024 are,

  1. United States — The annual valuation of goods exported from Nicaragua to the United States in 2024–2.76 billion US dollars

Top 5 variants of goods exported

1. Maize

2. Rice

3. Dry beans

4. Cassava

5. Peanuts

2. Mexico — The annual valuation of goods exported from Nicaragua to Mexico in 2024–1 billion US dollars

Top 5 variants of goods exported

1. Molasses

2. Sugar syrup

3. Sugar confectionery

4. Bananas

5. Plantains

3. El Salvador — The annual valuation of goods exported from Nicaragua to El Salvador in 2024–879 million US dollars

Top 5 variants of goods exported

1. Snapper fish

2. Frozen fish fillets

3. Shellfish

4. Raw sugar

5. Refined sugar

4. Costa Rica — The annual valuation of goods exported from Nicaragua to Costa Rica in 2024–743 million US dollars

Top 5 variants of goods exported

1. Processed cheese

2. Eggs

3. Honey

4. Shrimp

5. Lobster

5. Honduras — The annual valuation of goods exported from Nicaragua to Honduras in 2024–654 million US dollars

Top 5 variants of goods exported

1. Cotton trousers

2. Jackets

3. Skirts

4. Overalls

5. Cheese

6. Guatemala — The annual valuation of goods exported from Nicaragua to Guatemala in 2024–587 million US dollars

Top 5 variants of goods exported

1. Cigars

2. Cigarillos

3. Cigarettes

4. Tobacco leaves

5. Woven shirts

7. Canada — The annual valuation of goods exported from Nicaragua to Canada in 2024–476 million US dollars

Top 5 variants of goods exported

1. Beef offal

2. Processed meat

3. Green coffee

4. Roasted coffee

5. Coffee husks

8. Belgium — The annual valuation of goods exported from Nicaragua to Belgium in 2024–654 million US dollars

Top 5 variants of goods exported

1. Wiring harnesses

2. Optical fibre cables

3. Electrical apparatus

4. Fresh beef

5. Frozen beef

9. Germany — The annual valuation of goods exported from Nicaragua to Germany in 2024–278 million US dollars

Top 5 variants of goods exported

1. Gold

2. Silver

3. Gemstones

4. Coins

5. Electric cables

10. Venezuela — The annual valuation of goods exported from Nicaragua to Venezuela in 2024–199 million US dollars

Top 5 variants of goods exported

1. T-shirts

2. Jerseys

3. Sportswear

4. Knit scarves

5. Knit caps

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