Concentrated or sweetened milk and cream market in Nicaragua

Earlier Report Observations

The market for concentrated or sweetened milk and cream in Nicaragua experienced substantial growth from 2018 to 2023. Starting at 7 802 t in 2018, market volume more than doubled to reach 18 352 t by 2023. This expansion was not linear, with notable surges in 2019 and 2021.

After a sharp 61% increase in 2019, growth moderated to 7% in 2020. The market then accelerated again in 2021 with a 36% rise to 18 290 t. A slight contraction of 7% followed in 2022, but the market recovered in 2023, posting an 8% gain and setting a new volume record.

In value terms, the market grew even more sharply, from 28.2 million USD in 2018 to 84.9 million USD in 2023. This suggests that average prices or product mix shifted upward over the period, contributing to stronger value growth compared to volume.

Production concentrated or sweetened milk and cream in Nicaragua

In kind, 2017-2020, t

Top producers of concentrated or sweetened milk and cream, 2017-2020

World map of production of concentrated or sweetened milk and cream, 2017-2020

Nicaragua's production of concentrated or sweetened milk and cream has increased for the third consecutive year. In 2020, the country produced 19 492 tonnes, marking a 6.4% rise compared to the previous year. Over the period from 2017 to 2020, production grew by 65.2%, with an average annual growth rate of 18.2%.

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

In value, 2017-2020, K $ US

Nicaragua's production of concentrated or sweetened milk and cream has increased for the third consecutive year. In 2020, the output was valued at 74 203 thousand US dollars, showing a modest increase of 9.1% from 2019. Between 2017 and 2020, production rose by 63.3%, corresponding to an annualized growth rate of 17.8%.

Annual dynamics of production in Nicaragua in value, 2017-2020, K $ US

Exports concentrated or sweetened milk and cream from Nicaragua

Exports in kind, t

After two years of growth, Nicaragua's exports of concentrated or sweetened milk and cream declined. In 2020, the country exported 9 314 tonnes, a decrease of 0.9% from the previous year. Between 2017 and 2020, exports increased by 3.3%, with an annualized rate of 1.1%. The highest volume was recorded in 2019 at 9 401 tonnes, while the largest increase occurred in 2018 at 3.7%.

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

From 2017 to 2020, Guatemala and El Salvador were the dominant destinations for Nicaragua's exports in kind, together accounting for 85.1% of total flows. Other countries contributed smaller individual shares.

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

In 2020, Nicaragua's exports of concentrated or sweetened milk and cream were valued at 35 455 thousand US dollars, indicating a 1.6% increase year-over-year. Between 2017 and 2020, exports grew by 2.1%, with an annualized rate of 0.7%. The highest value was recorded in 2018 at 35 663 thousand US dollars, while the largest decline occurred in 2019 at 2.1% and the largest increase in 2018 at 2.7%.

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

From 2017 to 2020, Guatemala and El Salvador together accounted for 83.2% of Nicaragua's total export value, with Guatemala contributing 56.4% and El Salvador 26.8%. Other trading partners made up the remaining share.

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

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

Imports concentrated or sweetened milk and cream to Nicaragua

Imports in kind, t

Nicaragua's imports of concentrated or sweetened milk and cream have declined for the second consecutive year. In 2020, imports totaled 3 297 tonnes, a 9.9% decrease from the previous year. Over the period from 2017 to 2020, imports fell by 5.1%, with an average annual decline of 1.7%. The highest volume was recorded in 2018 at 4 690 tonnes, while the largest decline occurred in 2019 at 22.0% and the largest increase in 2018 at 35.0%.

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

From 2017 to 2020, the United States, Costa Rica, and New Zealand were the main sources of Nicaragua's imports in kind, together accounting for 75.9% of total imports.

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 imports of concentrated or sweetened milk and cream have declined for the second consecutive year. In 2020, imports stood at 10 816 thousand US dollars, showing a significant decrease of 14.6% from the previous year. Over the period from 2017 to 2020, imports dropped by 22.8%, with an average annual decline of 8.3%. The highest value was recorded in 2018 at 16 288 thousand US dollars, while the largest decline occurred in 2019 at 22.2% and the largest increase in 2018 at 16.2%.

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

From 2017 to 2020, Costa Rica, New Zealand, and the United States together accounted for 87.1% of Nicaragua's total import value, with Costa Rica contributing 40.4%, New Zealand 27.0%, and the United States 19.8%. These countries remained the primary sources for concentrated or sweetened milk and cream 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