Exporting to Nicaragua
Demand for UK goods and services
UK exports to Nicaragua have continued to grow. They totalled £22 million in the year up to June 2019, an increase of 37.5% on the previous year (ONS, 2019). The best opportunities for UK exporters in the country are currently available in the mining, agriculture, renewables and infrastructure sectors.
Demand for goods and services
In the year to end June 2019, the leading types of goods imported by Nicaragua from the UK were toilet and cleansing preparations, metal manufactures, chemicals, industrial machinery and electric motors (ONS, 2019). The top services imported by the country in the same year were transport, travel, business services, and insurance and pension services (ONS, 2019). If your business provides these goods and services, Nicaragua could be a good market for you.
Ease of doing business
142nd
out of 190 countries (World Bank, 2019)
Currency
Nicaraguan Córdoba
Business languages
Spanish
You may need a translator
GDP per capita
$2,031
UK is $42,558 (IMF, 2018)
Economic growth
- 4.0%
(IMF, 2018)
Time zone
GMT - 6
Next steps
DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.
