Nicaragua’s export industry showed a 6.7 percent growth during the first quarter of 2014

April 4, 2014

According to the Center for Exports (CETREX, for its acronym in Spanish), until March 30, the country sold 571 million pounds of products abroad, which generated US$681 million and registered a 6.7 percent growth compared to the same period in 2013.

According to CETREX, the top 10 export products were beef, gold, coffee, sugar, peanuts, cheese, milk, beans, shrimp and lobsters, which together totaled US$489 million in revenue. The United States remained as the top destination for Nicaraguan exports, with products such as coffee (US$46 million), meat (US$33 million) and gold (US$29 million).

Similarly, the second destination for Nicaraguan exports was Venezuela, with products such as meat (US$46.2 million), sugar (US$16.6 million) and beans (US$11.5 million). The third export destination was Canada, with products such as gold (US$64.3 million).

The Executive Director of CETREX, Jorge Molina, clarified that although the country experienced a significant increase in export volumes, international low prices are affecting the overall growth of the industry. However, some of the main export products have had a slight recovery, such as coffee which reached prices of more than US$200 per quintal.

Molina also considers that Nicaragua's exports could even surpass 2012 high-export figures, which totaled US$2.7 million. He also expects an increase in free zone exports. “There could be a higher growth in free zone exports, which could influence Nicaragua’s total exports to exceed US$5,000 million in 2014,” said Molina.

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