The Central Bank of Nicaragua published its Foreign Trade Report and Statistics for the fourth quarter of 2024, reporting total exports (goods plus free zones) of USD 1,831.6 million in the quarter, up 10.1% year on year, while total imports reached USD 2,756.8 million, up 5.3%. The resulting quarterly trade deficit was USD 925.2 million, 3.1% smaller than in the same period of 2023. For 2024 as a whole, total exports amounted to USD 7,717.2 million, up 2.3% versus 2023, reflecting growth in goods exports (+3.9%) and a modest increase in free-zone exports (+0.4%). Goods export growth was driven by mining exports (+20.1%), mainly linked to higher international prices, alongside increases in fishing (+10.0%) and manufacturing (+1.2%), partly offset by a fall in agricultural exports (-11.2%); free-zone gains were led by textiles (+USD 96.2 million) and African palm oil (+USD 12.5 million). Total imports rose 7.8% to USD 10,775.7 million, with merchandise imports up 9.9% on higher purchases of capital goods (+19.5%), consumer goods (+11.8%) and intermediate goods (+10.8%), while oil and derivatives declined 1.2%. The cumulative trade deficit widened to USD 3,058.5 million, a 24.6% increase from 2023.
Central Bank of Nicaragua 2025-02-17
Central Bank of Nicaragua releases Q4 2024 foreign trade statistics as exports rise and the 2024 trade deficit widens
The Central Bank of Nicaragua's Foreign Trade Report for Q4 2024 shows total exports at USD 1,831.6 million, a 10.1% increase year-on-year, and imports at USD 2,756.8 million, up 5.3%, resulting in a trade deficit of USD 925.2 million, 3.1% smaller than Q4 2023. For the full year, exports rose 2.3% to USD 7,717.2 million, driven by mining, fishing, and manufacturing, while imports increased 7.8% to USD 10,775.7 million, leading to a trade deficit of USD 3,058.5 million, up 24.6% from 2023.