The Nicaraguan economy remains stable and economic growth has been constant. Per capita income is approximately $2,027 and price inflation decreased from 6.5 percent in 2014 to 3.05 percent in 2015 due to lower food and international oil prices. The Nicaraguan economy’s principal sector is agriculture. It accounts for about 15 percent of the GDP and almost three-fourths of Nicaragua’s exports. However, locally produced food is not sufficient to supply local demand, especially the growing demand of processed foods. Most families in rural areas depend on subsistence farming and agricultural activities while families in the urban areas base their diets on imported processed foods.

On April 1, 2006, the United States-Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) entered into force for the United States and Nicaragua. One hundred percent of U.S. exports of consumer and industrial goods now enter Nicaragua duty-free. Tariffs on most U.S. agricultural products will be phased out by 2024, with all tariffs eliminated by 2026.

Market Notes:

The window of opportunity for fresh potato imports in Nicaragua is from March to July. Import permits are readily available during these months

Helpful Link:

Nicaragua Exporter Guide