The Central Bank of Nicaragua published its balance of payments results for the fourth quarter of 2025, reporting goods and services exports of USD 2,251.0 million and imports of USD 3,063.7 million, resulting in a quarterly trade deficit of USD 812.7 million (from USD 978.8 million in Q4 2024). For 2025 as a whole, exports rose 14.6% to USD 9,319.6 million and imports increased 8.1% to USD 12,184.9 million, narrowing the accumulated goods and services trade deficit by 8.6% to USD 2,865.2 million. The year ended with a current account surplus of USD 2,101.6 million and a positive financial account balance of USD 1,180.5 million. Goods exports increased 16.7%, driven by higher prices (+9.8%) and volumes (+6.9%), led by agriculture (+44.5%) and mining (+44.4%), while fishing and aquaculture fell 5.2%. Services exports totalled USD 1,338.2 million, up 3.1%, reflecting higher receipts from manufacturing services (+8.1%), transport (+18.3%), tourism from non-residents (+3.2%) and other business services (+33.2%), while other net inflows in the current account reached USD 4,966.9 million (+20.6%). Import growth was supported by consumer goods (+29.5%) and capital goods (+20.4%); services imports reached USD 1,451.0 million (+11.1%), including higher freight and passenger transport (+11.0%), residents’ tourism spending abroad (+10.5%) and insurance (+4.0%). Gross foreign direct investment inflows were USD 3,059.2 million, with net FDI of USD 1,502.5 million; external deposits rose by USD 97.6 million for financial institutions and USD 440.5 million for the private non-financial sector, while net external loan disbursements were USD 269.3 million, mainly driven by net disbursements to the financial sector (USD 218.7 million) and general government (USD 126.1 million) and partly offset by net amortisations in the private non-financial sector. Reserve assets increased by USD 2,166.1 million over the year (USD 2,219.7 million in RIB).