Raw bovine and equine hides and skins market in Nicaragua

Earlier Report Observations

From 2018 to 2020, the domestic market for raw bovine and equine hides and skins in Nicaragua was shaped by regulatory and external factors. The introduction of the Equity Fiscal Law No. 453 created a more favorable tax regime for the agricultural sector, supporting production. Enhanced animal traceability rules implemented by the Institute for Agricultural Protection and Health (IPSA) aimed to improve product quality and control. However, in 2020, the COVID-19 pandemic disrupted supply chains and logistics, which, combined with a significant increase in export volumes, contributed to a reduction in the domestic market volume.

The market dynamics shifted notably from 2021 onward. A rise in national beef production increased the availability of hides and skins for the domestic market in 2021. Government policies through the Production, Consumption and Trade System continued to strengthen livestock farming. By 2022, sustained IPSA traceability and sanitary control policies helped improve product quality, aligning with Nicaragua's growing role as a regional beef exporter. This focus on quality and external demand was a key driver behind the substantial growth in exports, which significantly reduced the volume of hides and skins remaining for domestic consumption that year.

In 2023, the domestic market volume saw a modest recovery. National beef production remained stable, and Nicaragua consolidated its position as a leading beef producer and exporter in the region. The government's commitment to high-quality food production strengthened the overall livestock sector, supporting the related hides and skins industry. While export volumes remained high, a slight decrease from the 2022 peak allowed for a small increase in the quantity available internally.

Production raw bovine and equine hides and skins in Nicaragua

In kind, 2017-2020, t

Top producers of raw bovine and equine hides and skins, 2017-2020

World map of production of raw bovine and equine hides and skins, 2017-2020

Nicaragua's production of raw bovine and equine hides and skins has increased for the second year in a row. In 2020, the country produced 24 025 tonnes, which represents a 3.0% rise compared to 2019. Looking at the period from 2017 to 2020, overall production grew by 3.5%, with an average annual growth rate of 1.1%. The lowest production level was recorded in 2018 at 21 519 tonnes, marking a significant decline of 7.3% that year. However, this was followed by a strong recovery in 2019, with production surging by 8.4%.

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

Exports raw bovine and equine hides and skins from Nicaragua

Exports in kind, t

Nicaragua's exports of raw bovine and equine hides and skins have grown for the third consecutive year. In 2020, export volumes reached 4 724 tonnes, showing a dramatic increase of 229.5% compared to the previous year. Over the four-year span from 2017 to 2020, exports expanded by an impressive 1 346.2%, translating to an average annual growth rate of 143.6%.

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

From 2017 to 2020, Mexico, Costa Rica, and Honduras were the primary destinations for Nicaragua's exports of raw bovine and equine hides and skins. Mexico accounted for 42.7% of export volumes, Costa Rica for 17.2%, and Honduras for 11.1%. Together, these three countries represented 71.1% of Nicaragua's total export flows 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

The value of Nicaragua's exports of raw bovine and equine hides and skins has risen for the third year in a row. In 2020, export earnings stood at 417.8 thousand US dollars, which is 109.1% higher than in 2019. Between 2017 and 2020, the total export value increased by 207.9%, with an average annual growth rate of 45.5%.

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

During the 2017–2020 period, Mexico, Honduras, and Guatemala consistently led as the top markets for Nicaragua's exports of raw bovine and equine hides and skins in value terms. Mexico held a 43.7% share, Honduras 15.4%, and Guatemala 14.6%. Collectively, these three countries accounted for 73.7% of the total export value.

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

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

Imports raw bovine and equine hides and skins to Nicaragua

Imports in kind, t

Nicaragua's imports of raw bovine and equine hides and skins remained minimal in 2020, with no recorded volume, similar to the previous year. Over the 2017–2020 period, imports declined by 100%, reflecting an average annual decrease of 92.3%.

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

From 2017 to 2020, Guatemala and Mexico were the main sources of Nicaragua's imports of raw bovine and equine hides and skins, together making up 93.7% of total import volumes. The remaining share was distributed among other countries.

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

In 2020, Nicaragua's imports of raw bovine and equine hides and skins were valued at 0.3 thousand US dollars, showing little change from 2019. Between 2017 and 2020, import values fell by 99.8%, with an average annual decline of 87.1%.

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

Throughout 2017–2020, Mexico and Guatemala remained the key suppliers of raw bovine and equine hides and skins to Nicaragua in value terms, jointly accounting for 97.1% of total imports. Other countries contributed the remainder.

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

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