Weekly Report - 22 February 2024 (WR-24-07)

NICARAGUA | Record remittances offset trade deficit. Nicaragua’s exports totalled US$7.54bn in 2023, down 2.2% on the previous year, the central bank revealed on 21 February. The decline owed to an 8.9% fall in exports from the free trade zone (palm oil and fish products, in particular, were down by 38.5% and 30.2% respectively) eclipsing the 4% increase in other exports. Mining exports, principally gold and silver, were up by 22.4%, and manufacturing exports by 0.9%.