Coconuts market in Nicaragua

Earlier Report Observations

The coconut market in Nicaragua showed significant volatility between 2018 and 2023, with overall volume growing from 6 296 t to 7 646 t. This 21% expansion was interrupted by a sharp contraction in 2020 and 2021, when the market fell below 5 000 t due to a drop in domestic production.

Production declined from 7 200 t to 6 000 t in 2020 and remained at that level through 2021, while export volumes increased, further reducing local availability. The market recovered strongly in 2022, as production jumped to 8 400 t and exports moderated, allowing the market volume to rebound to over 7 000 t.

By 2023, production stabilized at 8 400 t and lower export volumes contributed to higher domestic supply, pushing the market to its peak for the period. Imports remained minimal throughout, indicating that local production was the primary driver of market size.

Production coconuts in Nicaragua

In kind, 2017-2020, t

Top producers of coconuts, 2017-2020

World map of production of coconuts, 2017-2020

Nicaragua's coconut production reached 7,200 tonnes in 2018, marking the highest level recorded. That year saw a significant increase of 20.0% in production. However, by 2020, production had declined to 6,000 tonnes, representing a sharp decrease of 16.7% compared to the previous year.

Annual dynamics of production in Nicaragua in kind, 2017-2020, t

Exports coconuts from Nicaragua

Exports in kind, t

After declining for two consecutive years, Nicaragua's coconut exports rebounded in 2020. Exports reached 1,089 tonnes that year, showing a sharp increase of 43.8% compared to 2019. The lowest export volume during the 2017-2020 period was recorded in 2019 at 758 tonnes, which represented a decline of 17.2% from the previous year. Overall, exports increased by 18.8% between 2017 and 2020, with a compound annual growth rate of 5.9%.

Annual dynamics of product's exports from Nicaragua in kind, 2017-2020, t

Between 2017 and 2020, Italy and the United States were the dominant buyers of Nicaraguan coconuts, together accounting for 87.9% of total export volumes. Other trading partners represented a smaller portion of Nicaragua's coconut exports during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Nicaragua in kind, 2017-2020

Exports in value, K $ US

Nicaragua's coconut exports in value terms declined for the third consecutive year in 2020. The country exported $256.7 thousand worth of coconuts that year, representing a moderate decrease of 6.2% compared to 2019. Over the 2017-2020 period, export values decreased by 60%, with a compound annual decline rate of 26.3%.

Annual dynamics of product's exports from Nicaragua in value, 2017-2020, K $ US

From 2017 to 2020, Italy and the United States dominated Nicaragua's coconut exports in value terms, together accounting for 90.6% of total export revenue. Other destinations contributed smaller individual shares to Nicaragua's coconut export earnings.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Nicaragua in value, 2017-2020

Imports coconuts to Nicaragua

Imports in kind, t

Nicaragua's coconut imports increased for the second consecutive year in 2020. Imports totaled 25 tonnes that year, representing a substantial increase of 64.0% compared to 2019. The lowest import volume during the 2017-2020 period was recorded in 2018 at 11 tonnes, which represented a decline of 11.8% from the previous year. Overall, imports increased by 113.8% between 2017 and 2020, with a compound annual growth rate of 28.8%.

Annual dynamics of product's imports to Nicaragua in kind, 2017-2020, t

Between 2017 and 2020, Costa Rica (46.0% of import volumes), Brazil (23.9%), and the United States (14.5%) were the main sources of coconut imports to Nicaragua. Together, these three countries accounted for 84.4% of Nicaragua's total coconut imports by volume during this period.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Nicaragua in kind, 2017-2020

Imports in value, K $ US

Nicaragua's coconut imports in value terms increased for the second consecutive year in 2020. Imports reached $68.9 thousand that year, representing a 12.5% increase compared to 2019. The lowest import value during the 2017-2020 period was recorded in 2018 at $45.9 thousand, which represented a decline of 9.0% from the previous year. The largest increase occurred in 2019, when import values rose by 33.5%. Overall, imports increased by 36.7% between 2017 and 2020, equating to an annualized growth rate of 11.0%.

Annual dynamics of product's imports to Nicaragua in value, 2017-2020, K $ US

From 2017 to 2020, three principal markets — Costa Rica, the United States, and Brazil — together accounted for 81.5% of the total value of coconut imports to Nicaragua.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Nicaragua in value, 2017-2020