Nicaraguan Economy Grows by 5%

Government authorities have announced that in the first quarter of 2011 there was growth of 5.3% compared to the same period in 2010.

Thursday, July 14, 2011

The rise according to a report by the Council of Communication and Citizenship is a result of growth in private and public investment and the value of exports (14.6%).

"One of the fastest growing economic sectors, according to the executive, is mining and quarrying, with growth of 29.2%, a result of increased investment in the municipality of La Libertad Mine (center) and the high international price of gold.

Meanwhile, the construction sector recorded an increase of 18.1%, especially in social housing ... "

The electricity, water and sewerage sector recorded a rise of 13.5%, manufacturing 9.8% and trade, hotels and restaurants 4.7%, the report said. "

For the same period agriculture, livestock and fisheries reported a decrease of 2.9%



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Activities of the canal and air and financial services accounted for most of the 5.4% growth recorded in GDP over the past year.

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Between January and July the Gross Domestic Product (GDP) grew by 3.8% compared to the same period in 2010.

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