Nicaragua reached $2,022.3 million in exports and $2,652.7 million in imports in the second quarter of 2024.
Growth of 2.7% in Exports and 6.1% in Imports Compared to the Previous Year
Nicaragua experienced growth in its international exports and imports, reaching totals of $2,022.3 million and $2,652.7 million, respectively, in the second quarter of 2024.
According to a report published by the Central Bank of Nicaragua (BCN), there was a year-on-year increase of 2.7% in total exports, with a notable rise of 4.9% in merchandise exports.
This growth is primarily driven by the mining sector, which saw an increase of 29.8%, and the manufacturing industry, which grew by 6.7%, with the food sector showing a particularly strong increase of 12.8%.
Nicaragua’s Imports Increase
On the other hand, total imports in the second quarter reached $2,652.7 million, representing a 6.1% increase compared to the previous year.
This increase is attributed to an 8.7% rise in merchandise imports, while imports under the free trade zone regime decreased by 2.2%. As of June, accumulated imports totaled $5,191.0 million, reflecting a year-on-year growth of 9.0%.
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In terms of destination markets, the United States remained the top recipient, absorbing 36.5% of the exported value. It was followed by Canada with 11.2%, El Salvador with 9.8%, Mexico with 5.2%, Costa Rica and Belgium with 4.7% each, Guatemala with 2.6%, Honduras with 2.5%, and China with 1.9%.
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Together, these markets represented 79.1% of the total exported value in 2024. It is important to note that exports to Canada increased by 78.6% year-on-year, while those to the United States decreased by 14.9%.
