According to figures from the Association of Producers and Exporters of Nicaragua (APEN), Nicaraguan continues to enjoy record export income in 2021.
Figures show a year to date, January to September record income of US $2,731 million.
This figure is higher by 19.9% compared to the same period of 2020, when 2,278.55 million dollars were obtained.
Volume versus Value
The financial growth has been achieved even though APEN”S numbers show a reduction of 10.5% in actual volume of exports; 1,593.32 million kilograms when compared with the same period last year of 1,779.96 million kilograms (a reduction of 186.63 million kilograms).
APEN says this reduction in volume was largely due to the knock on effects of Hurricanes Eta and Iota affecting agricultural products.
However, the price per kilogram of products exported increased by 33.9%, therefore maintaining growth and continuing the record export income.
Star Products
Nicaragua’s top three export products of are gold, coffee and beef with gold leading by a long way at US $ 653 million. Beef is US $ 513 million, 26% more than last year. However, when dairy products are included with beef, the number is a combined US $ 726 million or 25.5% up on last year. Coffee saw a year on year increase of US $ 37.68 million. The 2021-2022 harvest has just begun and producers are predicting a 4% increase in production.
The top five individual markets for Nicaraguan Exports are;
The United States of America with US $ 1,318 million (48.25% of the total exports from Nicaragua)
El Salvador with a total of US $ 270 million (10%)
Mexico with a total of US $ 118.24 million (4.33%)
Costa Rica with a total of US $ 111.92 million (4.10%)
Guatemala with a total of US $ 96.46 million (3.53%)
APEN
The Association of Producers and Exporters of Nicaragua was founded in 1991 and represents many large, medium and small exporters, importers and businesses related to the business of international trade. APEN provides various types of assistance to these members in relation to their foreign trade management.
