Nicaraguan Economy Grows at 7%

During March 2021, the Monthly Index of Economic Activity reported a year-on-year variation of 6.5%, a rise that is largely explained by the dynamism of mining and quarrying, manufacturing industry and construction.

Monday, May 24, 2021

In primary activities, growth was registered in mining and quarrying, livestock, agriculture, fishing and aquaculture, and a decrease in forestry and timber extraction, informed the Central Bank of Nicaragua (BCN).

Check out the "System for monitoring markets and the economic situation in Central American countries" of CentralAmericaData.

In the manufacturing industry, the activities of meat and fish processing, sugar, beverages, tobacco, textiles, machinery and equipment, petroleum derivatives, non-metallic products, among others, showed growth, according to the official analysis.

According to the BCN, in services, growth was observed in commerce, education, public administration and defense, home ownership and health; and decreases in hotels and restaurants, financial intermediation and related services, other services, and energy and water.

Agriculture activity showed a 3.9 percent growth (4.1% in the accumulated January-March period), as a result of increased work in sugar cane, bananas, beans and tobacco, among others, said the monetary authority.

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