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On August 5, 2004, the United States signed the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) with five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) and the Dominican Republic (the Parties). Under the Agreement, the Parties significantly liberalizes trade in goods and services.
The CAFTA-DR also includes important disciplines relating to: customs administration and trade facilitation, technical barriers to trade, government procurement, investment, telecommunications, electronic commerce, intellectual property rights, transparency and labor and environmental protection.
The Agreement entered into force for the United States and El Salvador on March 1, 2006; for, Honduras and Nicaragua on Aril 1 2006; and for Guatemala on July 1, 2006. The CAFTA-DR entered into force for the Dominican Republic on March 1, 2007, and for Costa Rica on January 1, 2009.
U.S.-Nicaragua Trade Facts
Nicaragua is currently our 62nd largest goods trading partner with $4.4 billion in total (two way) goods trade during 2015. Goods exports totaled $1.3 billion; goods imports totaled $3.2 billion. The U.S. goods trade deficit with Nicaragua was $1.9 billion in 2015.
According to the Department of Commerce, U.S. exports of goods to Nicaragua supported an estimated 5 thousand jobs in 2014 (latest data available).
- Nicaragua was the United States' 72nd largest goods export market in 2015.
- U.S. goods exports to Nicaragua in 2015 were $1.3 billion, up 25% ($248 million) from 2014 and up 101% from 2005. U.S. exports to Nicaragua are up 101% from 2005 (pre-FTA).
- The top export categories (2-digit HS) in 2015 were: machinery ($167 million), special other (articles donated for relief) ($155 million), electrical machinery ($100 million), mineral fuels ($72 million), and knitted or crocheted fabrics ($64 million).
- U.S. exports of agricultural products to Nicaragua totaled $223 million in 2015. Leading categories include: soybean meal ($50 million), corn ($34 million), dairy products ($22 million), prepared food ($19 million), and soybean oil ($17 million).
- Nicaragua was the United States' 57th largest supplier of goods imports in 2015.
- U.S. goods imports from Nicaragua totaled $3.2 billion in 2015, up 2.7% ($82 million) from 2014, and up 170% from 2005. U.S. imports from Nicaragua are up 170% from 2005 (pre-FTA). U.S. imports from Nicaragua are up 170% from 2005 (pre-FTA).
- The top import categories (2-digit HS) in 2015 were: knit apparel ($1.0 billion), electrical machinery ($492 million), woven apparel ($427 million), precious metal and stone (gold) ($348 million), and coffee, tea & spice (coffee) ($234 million).
- U.S. imports of agricultural products from Nicaragua totaled $556 million in 2015, our 35th largest supplier of agricultural imports. Leading categories include: coffee, unroasted ($232 million), red meats, fr/ch/fr ($185 million), raw beet & cane sugar ($30 million), bananas and plantains ($21 million), and cheese ($20 million).
- The U.S. goods trade deficit with Nicaragua was $1.9 billion in 2015, a 7.9% decrease ($165 million) over 2014.
- U.S. foreign direct investment (FDI) in Nicaragua (stock) was $201 million in 2014 (latest data available), a 4.7% decrease from 2013. There is no information on the distribution of U.S. FDI in Nicaragua.
- Nicaragua's FDI in the United States (stock) was $21 million in 2014 (latest data available). The distribution of Nicaragua's FDI in the United States is not available.
NOTE: No services trade data with Nicaragua are available.