(posted Dec. 31, 8:55 a.m.) – Nicaragua’s export revenues grew by 23.27% this year, jumping from $1.9 billion in 2010 to $2.3 billion in 2011, according to CETREX export numbers cited by Informe Pastran.
While export volumes actually decreased this year, revenue grew thanks to high commodity prices. Nicaragua’s top exports this year continued to be beef, coffee, sugar, peanuts, cheese, shrimp, milk and lobster.
The principal markets for Nicaraguan products are, in order of importance: United States, Venezuela, Canada, El Salvador, Costa Rica, Mexico, Guatemala and Honduras.
Nicaragua’s free-trade zones also increased production and export levels as the sector fully recovered its lost factory jobs from 2009 and expanded this year. Nicaragua’s 2011 export totals from free-trade zones reached close to $1.8 billion this year.
Though Nicaragua’s economy, which grew 4.5% this year, is expected to slow to 3-3.5% in 2012, the country’s export sector will benefit the new free-trade agreement with Mexico and the continued growth of free-trade zones.