Exporting guide to Nicaragua
Increasingly globalised country
In recent years, Nicaragua has joined regional, multilateral and bilateral agreements, showing a clear interest in globalisation. The country is currently part of the Central American Common Market (MCCA) and has also established free trade agreements with several countries.
UK-Central America association agreement
The UK has signed the UK-Central America association agreement which includes Nicaragua. Read our latest updates for more information on the status of this agreement and how it may benefit your business.
Top five UK goods exported to Nicaragua, in the four quarters to the end of Q2 2022
| Goods | Value (£) |
|---|---|
| Scientific instruments (capital) | |
| Toilet & cleansing preparations | |
| Works of art | |
| Other chemicals | |
| Iron & steel |
Source:
ONS Trade in goods: country-by-commodity exports
Last updated: November 2022
Download the latest trade and investment factsheet for Nicaragua.
Total import value (into the UK from Nicaragua) and export value (from the UK into Nicaragua) over time
| Year | Imports (£million) | Exports (£million) | Total trade (£million) |
|---|---|---|---|
| 2016 | 32.0 | 33.0 | 65.0 |
| 2017 | 53.0 | 15.0 | 68.0 |
| 2018 | 43.0 | 8.0 | 51.0 |
| 2019 | 44.0 | 22.0 | 66.0 |
| 2020 | 60.0 | 12.0 | 72.0 |
| 2021 | 54.0 | 9.0 | 63.0 |
Source:
ONS UK total trade: all countries, seasonally adjusted
Last updated: October 2022
Total trade is the sum of all exports and imports over the same time period.
Download the latest trade and investment factsheet for Nicaragua.
Nicaragua: at a glance
Economic growth
10.3%
Actual figure (IMF, 2021)
The UK is 7.4% (IMF, 2021, projected figure)
GDP per capita
$1,937
Actual figure (IMF, 2020)
The UK is $41,127 (IMF, 2020, actual figure)
Currency
Nicaraguan Córdoba
Business languages
Spanish
You may need a translator
Time zone
GMT - 6
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Check for trade barriers
Trade barriers, such as tariffs or taxes, can raise costs, cause delays, or even stop you from exporting. Check for any issues that may impact your business when exporting.
Check duties and customs
Find information on how to export goods from the UK. View the duties, rules, restrictions, and the documents you need for your products.
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.
