In 2021, Nicaragua and China will resume diplomatic relations. (Reuters photo)
[Financial Channel/Comprehensive Report] Laureano Ortega, son of Nicaraguan President Daniel Ortega, said that Nicaragua has laid the foundation for establishing "the largest trade exchanges" with China, and its exports to China "have exceeded US$100 million (approximately NT$3.2 billion)." However, according to export data released by the Central Bank of Nicaragua (BCN), this statement is not true.
Nicaraguan media "Confidencial" reported that since Nicaragua resumed diplomatic relations with China in 2021, although Nicaragua's exports to China have gradually grown, the overall scale is still limited.
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According to data from the Central Bank of Nicaragua (BCN), exports in 2021 and 2022 will be US$12 million (approximately NT$380 million), increasing to US$14.2 million in 2023 ( Approximately NT$450 million), rising sharply to US$61.3 million (approximately NT$1.9 billion) in 2024, and further increasing to US$81.1 million (approximately NT$2.6 billion) in 2025. In the first half of this year, export volume was US$45.6 million (approximately NT$1.4 billion), still not exceeding US$100 million (approximately NT$3.2 billion).
In an exclusive interview on October 8, 2026, Laureano stated that exports to China have grown significantly. He emphasized in the interview that trade data with China are "always encouraging." However, judging from actual trade data, Nicaragua still imports more goods from China than exports to China.
According to data from the Central Bank of Nicaragua (BCN), in the first half of 2026, Nicaragua’s exports to China were mainly sugar, with an export value of US$25.1 million (approximately NT$800 million), followed by lobster of US$7.2 million (approximately NT$800 million). 230 million yuan) and US$3.1 million of meat (approximately NT$99.81 million); coffee exports were only US$142,800 (approximately NT$45.98 million), and cigars and their substitutes were US$15,100 (approximately NT$480,000).
Compared with other traditional trade markets in Nicaragua, there is still a significant gap in the scale of exports to China. In 2025, Nicaragua's exports to the United States will reach US$20.257 billion (approximately NT$651.8 billion), which is approximately 25 times its exports to China; its exports to El Salvador will also reach US$533.3 million (approximately NT$17.1 billion), much higher than the Chinese market.
In the first half of 2026, Nicaragua's exports to the United States reached US$1.473 billion (approximately NT$47.4 billion), exports to Canada were US$708 million (approximately NT$22.7 billion), and exports to El Salvador were approximately US$263.7 million (approximately NT$8.4 billion). In comparison, Nicaragua's exports to China were only US$45.6 million (approximately NT$1.4 billion), less than half of the US$100 million claimed by Laureano.
Laureano also admitted that "import data are making China one of the main sources of commodity supply for the Nicaraguan market."
Since the restoration of diplomatic relations between Nicaragua and China in 2021 and the signing of the Free Trade Agreement (FTA) in 2023, the most obvious growth has actually been the import volume. Prior to this, the amount of Nicaragua's imports from China had not exceeded US$1 billion (approximately NT$32.1 billion), but it has crossed this threshold since 2021.
The year with the highest import volume will be 2025, with Nicaragua’s total imports from China reaching US$1.8929 billion (approximately NT$60.9 billion). However, even though the amount is considerable, Nicaragua still imports more goods from the United States, totaling US$2.0162 billion (approximately NT$64.8 billion).
In addition, the Central Bank of Nicaragua did not list in detail the main types of commodities imported from China, as it did with information on other trading partners.
Laureano was granted full authority to act on behalf of his parents more than 20 times. He emphasized that the impact of China is not only reflected in the investment data, but also includes "many business activities, many enterprises, new investments, and job creation, which is very important because some companies have more than 1,000 employees and these companies have injected considerable vitality into our economy."
In Nicaragua, many Chinese-funded companies that have set up shop there are mainly warehouse-style stores selling relatively low-priced Asian products, including household items, toys, small appliances, clothing and accessories.
The latest data on such stores goes back to 2023. At that time, Jorge González, president of the Nicaraguan Business Association, said that there were about 400 Chinese stores in the area.
In addition to the retail industry, there are also 24 Chinese-backed mining companies based in Nicaragua. The local government has handed over more than 1.3 million hectares of land to these companies for gold mining.
Information on these mining companies is quite limited. They have appeared one after another since November 2023, exactly two months after Nicaragua signed a free trade agreement with China. Since then, these companies have continued to gain access to Nicaragua’s natural resources, even involving indigenous territories.
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