Nicaragua: Domestic Consumption Declines

From January to October of this year, 13 out of 17 domestic consumption activities reported contractions over the same period in 2017.

Thursday, December 20, 2018

The third report of the Economic Activities Monitoring of Nicaragua of the Superior Council of Private Enterprise (Cosep) and the Nicaraguan Foundation for Economic and Social Development (Funides), detail that the sales of urbanization companies that build homes of medium-high and high level from January to October of this year are 80% lower than those recorded in the first 10 months of 2017.

Other activities that reduced their sales for the months concerned were leather and footwear SMEs, Large Hotels, Vehicle Distribution, Restaurants, Advertising Agencies, Medical Equipment Distributors, Social Interest Housing, Drug and Device Distributors, Tour Operators, Agrochemical Formulation and Distribution, Alcoholic Beverages and Chicken Industry.

According to the report, the Energy Production did not register variations, and the activities that increased its sales were Mass Consumption Distribution, Egg Production and Telecommunications.

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More on this topic

Nicaragua: Banking Agencies Keep Closing

August 2019

Since the beginning of the political crisis in the country, several banks have decided to close some of their service centers, and only during the first half of 2019 have 56 branches been reported closed.

In April 2018, the country plunged into a political crisis that has dragged the economy into recession.

Nicaragua: Sales Keep Falling

November 2018

In September, sales of houses in Nicaragua reported a fall of 80%, and sales of vehicles and hotels were reduced 75% and 70%, respectively, compared to the same month last year.

According to the Second Monitoring of Economic Activities in Nicaragua, prepared by the Superior Council of Private Enterprise (Cosep) and the Nicaraguan Foundation for Economic and Social Development (Funides), during September sales of advertising agencies fell 48%, those of distributors of medical equipment 40% and those of restaurants 35%, compared to the ninth month of 2017.

Economic recession caused by the crisis

October 2018

New World Bank projections estimate that because of Nicaragua's political crisis, the country's GDP will fall 4% this year and 1% in 2019.

According to the expectations of the international organization, Nicaragua will be the only economy that will decrease in Central America, because of the political and social crisis in which the country is involved since last April, it is expected that the Gross Domestic Product (GDP) will decrease 3.8% in 2018 compared to 2017.

Investment projections fall

October 2018

Businessmen in Nicaragua expect to reduce by at least 50% the investments they had previously planned for 2018, waiting for the problems affecting the country to be solved.

The research by the Consejo Superior de la Empresa Privada (Cosep) and the Fundación Nicaragüense para el Desarrollo Económico y Social (Funides), takes place in the context of more than 160 days of political and social crisis, which has severely affected the performance of the country's economy.

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