LatinNews Daily - 20 February 2023

In brief: Nicaragua’s trade deficit surges

*Nicaragua’s central bank (BCN) has released new figures which show the country’s exports totalled US$7.73bn in 2022, up 12.6% on 2021. Imports totalled US$10.12bn, up 21% on 2021.This has left a trade deficit of US$2.4bn, up 59.5% on 2021. However the same figures show that exports in the fourth quarter of 2022 accounted for US$1.71bn, down 1.2% on the same period in 2021. The same figures show that the US remains the country’s main export market, accounting for 47.5% of exports in the fourth quarter of 2022, followed by El Salvador (13.4%), Costa Rica (5.9%), Mexico (5.2%), Guatemala (4.0%), Honduras (3.2%), Panama (2.2%) and Puerto Rico (1.9%). As regards imports in the fourth quarter of 2022, which totalled US$2.5bn, up 14.7% on the same quarter in 2021, the US remained the biggest source, accounting for US$556.5m of the total.

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