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.

Elnuevodiario.com.ni 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

Nicaragua: Auto Sales Down

July 2017

The business sector estimates that if the trend observed in the first semester is mantained, by the end of the year the overall sales will be 3,000 units below the sales of 2016.

The Superior Council of Private Enterprise (Cosep) estimates that in the first half of the year vehicle sales were 15% lower than those in the same period in 2016. According to the Cosep, last year 20 thousand vehicles were sold.

Nicaragua: Delays in Tax Refunds

November 2015

A complaint has been made that the General Directorate of Revenue owes at least $18 million in tax refunds to the private sector.

The slowness with which the tax authorities give refunds seems to be a widespread problem in the region. It is not only in El Salvador that entrepreneurs have to face this problem, but also in Nicaragua, where they say at least $18 million is owed to the private sector, explained Jose Adan Aguerri to Elnuevodiario.com.ni. The leader of COSEP "... explained that this amount belongs only to a list of companies that recently presented themselves to the Chamber of Industries of Nicaragua (Cadin), which means that the total debt could be higher."

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: 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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