Nicaragua: Sales Continue Downward Trend

Due to the economic crisis, various sectors of the economy closed this March with lower sales than those in March 2008.

Thursday, May 7, 2009

The data presented by the Superior Council of Private Enterprise (COSEP) reported a slowdown in sales during the first quarter when compared with the same period in 2008. website published: "[COSEP president José Adán Aguerri] said that up to and including March, the insurance sector decreased 4 percentage points in growth by registering a 9% increase, being that it was up 13% during the same period last year. He added that up to and including April, the hardware sector registered a deceleration of between 20 and 30% over the same period last year, while the decline was 8% for transport and 5% for telecommunications and consumer products."

More on this topic

Tumarín Hydroelectric Station and Corruption in Brazil

August 2015

The Nicaraguan private sector is complaining about the uncertainty of the future of the hydroelectric project, valued at $1.1 billion, because of the Brazilian company Eletrobras, which is currently involved in a corruption scandal.

In the view of the private sector it is essential to know what will happen to the project in the future, but at the same time some entrepreneurs say that if in the end the dam is not built, the effects on the country's energy matrix would not be so serious. Jose Adan Aguerri, president of the Superior Council of Private Enterprise (COSEP), commented that "... 'in Nicaragua under current conditions the country would not be majorly affected if the Tumarín project is not eventually built. The conditions have changed.'"

Nicaragua: Preparations for Trade Mission to Russia

January 2014

Companies from various sectors will make up the group which will travel to Russia this year on a trade tour.  

The businessmen will be making the trip in search of new business opportunities and in order to strengthen economic cooperation.

According to the ambassador of the Russian Federation, Vladimir Nikolay, Nicaraguan agricultural products are those with the greatest opportunities in the Russian market.

Nicaraguan Businesses Confident in Mining Sector

March 2013

After the purchase by the Colombian group Mineros SA, of 90% of the shares of Hemco, the private sector is confident that more will be invested in energy and agro-reforestation.

"We're talking about a sector that not only is backing mining, but also in energy, agro-reforestation, the cocoa sector and in the area of ​​services through call centers," said Joseph Adam Aguerri Board Chairman of the Superior Council for Private Enterprise (COSEP).

Nicaragua: 54% of Jobs Recovered

August 2010

In the last six months 25,000 of the 46,000 jobs lost between 2008 and 2009 have been recreated.

José Adán Aguerri, president of Nicaragua's Private Business Council (COSEP), indicated that the greatest recovery was seen in free-trade zones and in the farming and construction sectors.

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