Nicaragua: Hardware Stores Growing

The dynamism of the construction sector is driving growth in the hardware sector which consists of about 1,000 companies that generate annual sales of between $300 and $350 million.

Tuesday, November 10, 2015

The strong and sustained growth of the construction sector in recent years has been the engine of the hardware store business in the country, major suppliers of materials and equipment to construction companies. Data from the Hardware Association of Nicaragua (Afenic) indicates that the the number of companies engaged in the activity amounts to 1000, which as of August reported they had 28,098 insured workers.

See "Nicaragua: Figures for Private Construction - First Half of 2015 ".

"... Directors of the Hardware Association of Nicaragua (Afenic) have indicated that this year was 'very good' for the sector, which is expected to end the year with a significant growth of over 15%. Valeria Ortiz, general manager of Afenic, told that "... 'we go hand in hand with the construction sector, if they grow, we grow also.'"

"... An example of this growth -according Ortiz- is the opening of a new branch of FETESA Do it Center ... which required an investment of $4.5 million. Luis Prieb, FETESA´s general manager, said this year total investments amounted to $8.8 million. In this new phase of growth FETESA increased its storage capacity by adding 5 thousand square meters to its warehouses.'"

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The dynamism in construction in the country has boosted the supply of hardware and goods and services related to the industry.

In the last five years, the dynamism of the construction sector, driven by housing construction, has boosted sales of hardware and related goods and services.

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