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Central America is positioned as a strategic beneficiary of the global reconfiguration of supply chains. The region could capture 78 billion dollars a year in additional exports according to the IDB, while facing the challenge of closing an infrastructure gap of 2.2 trillion dollars by 2030.
This analysis examines the commercial dynamics of each country, regional port capacity and emerging opportunities for companies of all sizes in the most dynamic logistics corridor between North and South America.
The Panama Canal: Logistic Heart of the Americas
The Panama Canal isn't just a waterway. It is the axis that defines the logistical competitiveness of the entire region. With 14,000 annual transits and connecting 1,920 ports in 170 countries, its impact transcends Panamanian borders.
How does the expanded lock system work
Since 2016, the Canal has been operating with two parallel systems. The original locks handle Panamax vessels (up to 294 meters in length), while the new Neopanamax locks accommodate giants up to 366 meters. This expansion doubled cargo capacity, allowing ships with up to 14,000 TEU to pass through.
Transit costs reflect this complexity: a Panamax container ship pays approximately 475,000 dollars, while a Neopanamax can exceed 1,125 million dollars at 80% capacity, according to data from Panama Canal Authority.
Regional impact of the Panamanian port system
Panama handles 9.4 million TEU annually, representing almost 40% of the container movement in Central America. El Puerto de Colón leads Latin America with 4,869 million TEU, while Balboa processes 2.6 million with growth of 14% in 2024.
This infrastructure generates multiplier effects: 90% of the volume is transshipment, making Panama a redistribution hub for all of America. The Colon Free Zone, the second largest in the world after Hong Kong, amplifies this role with re-exports of more than 11 billion dollars annually.
Radiography of foreign trade by country
Each Central American economy presents unique dynamics that, together, create a mosaic of opportunities and challenges for international trade.
Guatemala: The Export Giant with a Structural Deficit
Guatemala leads regional exports with 14.57 billion dollars, but faces a trade deficit of 17.9 billion due to imports of 32.45 billion. The United States absorbs 32.2% of its exports (4.44 billion), followed by significant intraregional trade with El Salvador (13.4%) and Honduras (11.5%).
Key sectors include fruits and nuts (1.6 billion), textiles (1.48 billion) and the iconic Guatemalan coffee (1.42 billion). The country achieved 2.8% year-on-year export growth, surpassing several regional neighbors.
Costa Rica: Balance between goods and services
Costa Rica stands out for its balanced commercial profile. With 15.32 billion in goods exports and 21.14 billion in imports, the deficit of 5.82 billion is offset by a service surplus of 6.29 billion, totaling 11.79 billion in service exports.
The country reached 4.32 billion dollars in foreign direct investment in 2024, an all-time record with 14% growth. Free trade zones capture 64.3% of this investment, generating 250,000 direct and indirect jobs.
Honduras: Accelerated growth with textile base
Honduras shows the strongest commercial momentum with 14.31% growth and 4.98 billion in exports. The country dominates the supply of specialty coffee to the United States (30% of U.S. imports) and maintains a robust maquiladora textile industry.
North America captures 50.7% of Honduran exports, with the United States representing 36.9% of total trade. The trade deficit of 6.65 billion reflects the dependence on imports of capital and intermediate goods.
Nicaragua: Economic Resilience Despite Political Challenges
Nicaragua registered 4.6% GDP growth in 2023 according to the IMF, with record remittances of 4.7 billion dollars (30% of GDP). Exports in the first quarter of 2025 reached 1,857.5 million, led by manufacturing (63.5%), mining (17.4%) and the agricultural sector (16.1%).
The country maintains its position in coffee, beef and gold, although political conditions limit access to international finance and comprehensive trade data.
El Salvador: Digital Transformation and Dollarization
El Salvador, with its dollarized economy since 2001, facilitates international transactions without exchange risk. The country registered 2.6% GDP growth with approximately 2.8 billion in exports to the United States (39% of the total).
Foreign direct investment of 759.7 million in 2023 represented a 4-fold increase compared to 2022, with strong performance in electricity (14.6% growth), professional services (11.1%) and construction (17.9%).
Panama: Services as an Economic Engine
Panama reflects its vocation as a logistics center with services representing approximately 80% of GDP. Exports of goods of 3.65 billion are concentrated in copper (2.8 billion or 76.6%), with China as the dominant destination (32.71% or 1.195 billion).
Service revenues of 15.29 billion come from the Canal, financial services, and the Colon Free Zone, confirming the economic model based on strategic geographical position.
Port Infrastructure: Capabilities and Limitations
Central American logistics competitiveness depends crucially on its port infrastructure, which shows enormous disparities between countries.
Costa Rica: Innovation in the Cold Chain
The Puerto Limon/Moín complex processed 1,366 million TEU, ranking tenth in Latin America. The $992 million investment created the world's largest refrigerated container terminal for pineapples and bananas, with 3,800 connections for refrigerated containers.
The terminal operates 6 Super-Post Panamax cranes and plans to expand capacity from 1.2 to 2.5 million TEU in Phase 2, consolidating Costa Rica as a leader in the export of perishable products.
Honduras: Accelerated Modernization in Puerto Cortés
Puerto Cortés handled 753,000 TEUs with historic growth of 16.9% since 2019. The $140 million modernization will create capacity for 1.9 million TEU upon completion of Phase 2. The port already receives mega-ships of up to 310 meters under a 30-year concession with ICTSI.
Guatemala: Dominance in the Caribbean
Santo Tomás de Castilla processed 554,432 TEU with 913.2 meters of berthing front on 6 docks, handling 60% of Guatemala's containerized cargo. The strategic location in the Caribbean facilitates connections with the United States and Europe.
Challenges in El Salvador and Nicaragua
Acajutla in El Salvador moved 242,307 TEUs in 2022, with a recent expansion of 8.2 million, improving efficiency by 8%. Nicaragua's Puerto Corinto maintains a limited capacity of 43,472 TEU with storage for only 1,500 TEU, representing a significant bottleneck.
CAFTA-DR: Business Integration Engine
El Free Trade Agreement between the United States, Central America and the Dominican Republic generates 83.4 billion dollars in annual trade, with 46.7 billion in U.S. exports and 36.6 billion in imports.
Use and benefits of the treaty
Utilization rates reach 70% in textile manufacturing sectors, where 52% of companies plan to expand supplies from CAFTA-DR countries in the next two years, compared to 40% in 2023. This increase reflects the advantages of nearshoring and the integration of value chains.
The US trade surplus of 10.1 billion demonstrates the balance of the agreement, while Central America benefits from preferential access to the world's largest market and technology transfer.
Resilient intraregional trade
Central America shows greater dynamism than other Latin American subregions. While intraregional trade in Latin America fell from 14% to 13% of the total, Central America achieved an estimated increase of 2% according to ECLAC.
This resilience reflects greater productive integration, shared value chains and the implementation of digital business facilitation through SIECA.
Nearshoring: The $78 Billion Opportunity
Nearshoring represents the greatest economic opportunity for Central America in decades. The IDB estimates the potential of an additional 78 billion annually in exports to Latin America and the Caribbean, with 64 billion in goods and 14 billion in services.
Active and committed investments
U.S. companies are leading the relocation:
The IDB committed between 1.75 and 2.25 billion in nearshoring financing over the next three years, catalyzing additional private investment.
Sectors with the greatest potential
Guatemala is in sixth place in potential among SICA countries to increase exports by 780 million by nearshoring. Priority sectors include:
Infrastructure Challenges and Logistics Costs
The region is facing an infrastructure gap of 2.2 trillion dollars by 2030 according to the IDB, equivalent to 43% of regional GDP in 2019.
High transport costs
Logistics costs in Central America remain significantly higher than in developed economies:
Modernization Initiatives
Digitalization offers concrete solutions. Guatemala-El Salvador reduced the processing of export licenses from 24 hours to 1.5 minutes using electronic systems. UNCTAD launched the Trade Facilitation Reform Tracker in June 2025 with EU funding.
Public-private partnerships show growth of 25% in projects and 15% in total investment between 2022 and 2024, building over 770 billion in cumulative private investment in Latin America.
Cross-Border E-commerce: The New Engine of Growth
Regional e-commerce reached 180 billion dollars in 2024, with double-digit growth projections through 2026. Central America shows accelerated adoption according to Statista, with unique characteristics by country.
Digital consumption patterns by country
Mobile commerce captures 71% of regional sales by 2023, driven by payment innovations such as locally adapted digital wallet systems.
Central American Digital Trade Platform
SIECA implements Phase 2 of the Central American Digital Trade Platform, designed to streamline documentation and facilitate trade within and outside the region. This initiative reduces transaction costs by up to 15% based on preliminary estimates.
Free Zones: Catalysts for Investment and Employment
Free zones generate up to 60% of total exports in several Central American countries and employ nearly 2 million people regionally.
Costa Rica leads the model
Costa Rica exemplifies the success of the free zone model:
The 679 companies in the regime generate 12,276 billion (14% of GDP), demonstrating the effectiveness of the model in attracting high-tech investment.
Regional expansion of the model
Honduras, Nicaragua and El Salvador are aggressively expanding their free zone programs, competing for investment in textiles, automotive harnesses, medical devices and shared service centers.
Regional studies indicate returns of up to 7 times the fiscal incentives granted, justifying the continuous expansion of the model despite international pressure on fiscal competition.
Specific opportunities for SMEs
Small and medium-sized companies find specific niches in regional logistics transformation.
Integration into global value chains
Nearshoring creates opportunities for local providers:
Available support programs
Multiple initiatives facilitate the participation of SMEs:
Sectors of immediate opportunity
Demand analysis identifies specific sectors:
Strategic Perspectives and Recommendations
Central America faces a unique window of opportunity. The convergence of nearshoring, digitalization of trade and modernization of infrastructure can transform the region into a world-class logistics hub.
Priorities for governments
Strategies for companies
Nicaragua's role in the regional corridor
Nicaragua, with its central position and competitive labor costs, can capture a significant part of nearshoring if it improves port infrastructure and trade facilitation. Puerto Corinto requires urgent expansion, while the potential of the interoceanic dry corridor remains untapped.
Conclusion: A decisive moment for regional integration
The data reveals a region undergoing accelerated transformation. From the 9.4 million TEU transiting Panama to 78 billion in nearshoring opportunities, Central America is positioned as a critical link in hemispheric supply chains.
Success will depend on regional capacity to act in coordination: modernize infrastructure, digitize processes, and create a business environment that capitalizes on geographical proximity to the world's largest consumer market.
For Nicaraguan companies, the time is now. The combination of preferential market access, competitive costs and support programs creates unique conditions for international expansion.
At ACONISA, with more than three decades of facilitating international trade from Nicaragua, we are ready to guide your company in this new landscape. From integrated logistics services upto specialized advice in foreign trade, we are your strategic partner for capturing Central American trade opportunities.
Ready to expand your business internationally? Contact us for a personalized evaluation of your opportunities in the dynamic Central American market.
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