Looking for an easy way to ship your cargo to Nicaragua?Choose the best freight forwarder to transport your goods to Nicaragua safely and on time.
Exporting goods to Nicaragua, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as Nicaragua.
If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to shipping to Nicaragua.
WHAT CAN YOU EXPECT IN NICARAGUA?
Regulations in Nicaragua are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct:
● Corporate culture in Nicaragua is relationship-driven. Known as reserved but friendly people, Nicaraguans value trust, honor & camaraderie. They attach great importance to personal relationships rather than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships”, as Nicaraguans may be more loyal to you personally rather than to the company you represent. Third-party contacts are also a key to business success in Nicaragua. An established person vouching for you and presenting your company will help you gain trust in the market.
● Nicaraguans have a more relaxed perception of time management than Americans and Europeans, however punctuality is expected for business appointments.
● It is also important to consider the language as a possible barrier. Although most highly-educated business executives speak English fluently, the average person speaks only Spanish.
QUICK FACTS ABOUT NICARAGUA (2018)
- Capital: Managua
- Other Large Cities: León, Masaya, Matagalpa, Tipitapa, Chinandega, Jinotega, Granada
- Population: 6,465,513 (Urban Population: 58.5%)
- Official languages: Spanish
- Time Zone : GMT - 6
- Currency: Nicaraguan Cordoba Oro (NIO)
ECONOMIC SNAPSHOT ( Source: IMF - World Bank, 2018)
- GDP: 13.12 billion USD (GDP Growth: -4.0 % / GDP per capita: 2,031 USD)
- Inflation Rate: 4.9%
- Unemployment Rate: 6.1%
- Total Imports of Goods: 6.60 billion USD
- FDI Inward Flow: 0.36 billion USD (2.7% of GDP)
- Ease of Doing Business Score (2019): 132th / 190
WHY DOING BUSINESS WITH NICARAGUA IS THE RIGHT DECISION
Nicaragua is the largest country in Central America. It offers a unique and dynamic background for companies looking to expand internationally.
Although its economy contracted in 2018, Nicaragua has experienced considerable economic growth since 2009. The country’s economic performance is tied to different activities such as agriculture, forestry and fishing, textile, apparel and other light manufacturing. Nicaragua has significant market potential in the mining, energy, chemicals and machinery industries.
Furthermore, it has developed free trade agreements with several countries including USA, Mexico, Dominican Republic, Panama, Chile and the European Union.
The need for shipping to and from Nicaragua has been increasing exponentially during recent years. With LAC by your side you will reinforce your company’s cargo shipping capability to Nicaragua.
Our experienced professionals are very familiar with the market requirements in Nicaragua which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Nicaraguan market, headache free.
NICARAGUA TRADE OVERVIEW
- MAIN IMPORTS: Petroleum, Machines & Fabrics For Textile Processing, Medicaments, Plastics, Logistics Material
- MAIN EXPORTS: Cotton Apparels, Electrical Wire, Coffee, Gold, Meat, Fishes And Crustaceans
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Mining, Agriculture, Renewables Energies, Construction, Petrol Refining
- PRINCIPAL TRADING PARTNERS: USA, China, Mexico ,El Salvador, Honduras, Costa Rica, Guatemala, Europe (United Kingdom, Germany, Belgium), Colombia, Brazil