One reason for these good results, according to ECLAC analysts, are the efforts made by the country to diversify its export destinations and minimize its dependence on Europe.
This has mitigated the effect of the economic crisis affecting Europe and the subsequent reduction in consumption, which has had a major impact on export sales in many Central American countries.
On the other hand, Nicaraguan exports to other regions in Latin America have shown mixed results.
An article on laprensa.com.ni article reads: "Exports to South America, in particular Venezuela, Chile, Colombia and Ecuador increased by 17%, while those made to Central America rose by only 1%.
However, North America strengthened its position as the Nicaragua’s leading trading partner, as exports to the region consisting of Canada, the United States and Mexico grew by 35%, and constituted 44% of the $1.957 million worth of total exports during the first ten months of the year."
The country's principal markets are South Korea, Japan, the Republic of China Taiwan with which it has had free trade agreement (FTA) since 2008
In the first three months of 2011 exports totaled $46.7 million, 46% more than in the same period of 2010.
Supported by the FTA, Nicaragua has sold Asian markets a total of $12 million worth of products in the first quarter of 2011, according to a report by the country's Center for Export Prodedures (Cetrex).
Farmers in Colombia and Chile have been certified as eligible to export beef to China, after the lifting of foot and mouth disease restriction on Colombians and the signing of a protocol with the Chileans.
From an article by the Costa Rican Trade Promotion Office (PROCOMER):
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