Key Market Indicators
Nicaragua experienced a significant drop in pigment exports in 2023, totaling approximately 193 kilograms. This marks a 55% decrease compared to the 435 kilograms exported in 2022. The country's pigment supply has been on a downward trend since 1999, falling by an average of 25% each year. In 2023, Nicaragua ranked 68th in global pigment exports, with Israel narrowly ahead at the same export figure of 193 kilograms. Leading the global rankings were Germany, Saudi Arabia, and China, occupying the second, third, and fourth positions respectively. On the import front, Nicaragua's pigment imports are projected to decline. By 2028, imports are expected to reach around 210,000 kilograms, down from 243,000 kilograms in 2023. This represents an average annual decrease of 2.3%. Despite this decline, Nicaragua's pigment demand has shown a modest increase of 1.1% per year since 1998.
