Nicaragua: Construction Plans to Recover in 2011

The construction sector expects this year to be close to 2009 levels and projects growth for 2011.

Monday, November 8, 2010

In 2008 the sector contributed to Gross Domestic Product (GDP) $ 420 million, in 2009 fell to $ 330 million. Mario Zelaya, president of the Nicaraguan Chamber of Construction, said they expect the 2010 figure to be close to 2009 and projections for 2011 is $ 400 million.

Zelaya told that, "the beginning of important projects such as Tumarín, Guacalito Island, Hotel Express and Blue Power, plus the continuation of housing projects next year will allow the sector to recuperate, assuming we implement one third of these 115 million (first stage of Guacalito Island) in 2011, we have more than 35 million which were not present in 2009 and 2010'".

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More on this topic

Slow Recovery for Salvadoran Construction

October 2011

The construction sector grew by 3% in the first quarter of 2011, the first positive change since 2007.

According to the Central Reserve Bank (BCR) in the first three months of the year, gross domestic product (GDP) in the sector rose by 3%.

Ismael Nolasco, executive director of the Chamber of Construction Industry (CASALCO), said, "Since 2007, we have not been positive, only in the third quarter of 2009 have we reached 0.7%."

Nicaragua: Construction Falls 31% in Q1

June 2010

In the first three months of the year, the construction industry registered 31% less activity than in the same period of 2009.

The best performing subsectors were residential and industrial construction, with a combined drop of -20.3% in the first quarter of the year, and -5.3% when compared to the last quarter of 2009.

Construction Falls 20% in Nicaragua

October 2009

This year, the construction industry will contribute $60 million less to the country's Gross Domestic Product (GDP).

On average, this industry contributed some $400 million to the nation's GDP each year. However, estimates for 2009 put it at $340 million.

"This somber scenario is further worsened by the loss of 7.000 jobs so far this year, which may not be recovered, said Mario Zelaya, President of the Nicaraguan Construction Chamber, to newspaper La Prensa".

Nicaragua: Unemployment Grows in Construction

July 2009

During the last year and half, there has been a 40% loss in employment in the formal sector, and of that figure, 20% was from this year.

Estimates from the Nicaraguan Chamber of Construction (CNC, acronym in Spanish), composed of 45 active companies, indicate that at least 15,000 people, mainly laborers and job supervisors, lost their jobs since the beginning of last year.

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