Nicaraguan Economy Showing Signs of Recovery

During July the IMAE registered -4% year-on-year variation, a drop that is less than those reported in April, May and June, months in which due to the crisis generated by the covid-19, production reported contractions of 10%, 8% and 6%, in that order.

Friday, October 16, 2020

In the seventh month of the year, agricultural activity grew by 9.7% (2.1% in the accumulated January-July), due to increased work and production in the cultivation of coffee, corn, beans, rice, sorghum, and peanuts, among other agricultural products, reported the Central Bank of Nicaragua (BCN).

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

According to the BCN report "... Fishing and aquaculture decreased 2.7% (0.5% growth in the accumulated January-July), as a result of lower production of shrimp; and capture of fish, shrimp and other fisheries products. However, the capture of lobster registered growth.

The manufacturing industry registered a 1.8% decrease (-5.8% in the accumulated January-July), as a result of lower production in machinery and equipment, textiles, meat and fish products, beverages, among others; and growth in other foods, tobacco, oil derivatives, non-metallic, among others.

Construction activity decreased by 5.2% (3.9% growth in cumulative January-July). Among the construction materials that most contributed to this result are: blocks, sand, asphalt, among others.

See full report (in Spanish).

More on this topic

Panamanian Economy Falls 6%

May 2021

During March 2021, the Monthly Index of Economic Activity registered a -6% year-on-year variation, a decrease that is attributed to the effects of the sanitary emergency caused by Covid-19.

According to the most recent report of the General Comptroller's Office of the Republic, the Monthly Index of Economic Activity (IMAE) accumulated from January-March 2021 showed a decrease of 10.06%, compared to the same period of 2020.

Nicaragua: Economic Growth Slows Down

May 2021

After in January 2021 the Monthly Index of Economic Activity in the country registered an year on year increase of 0.7%, in February a lower growth was registered, which amounted to 0.2%.

The activities with the highest growth were: mining and quarrying, 24.5%, commerce, 6.2%, fishing and aquaculture, 5.6%, construction, 2.4%, and manufacturing industry, 2.3%, among others, informed the Central Bank of Nicaragua (BCN).

Economic Activity in Nicaragua Declines 5%

January 2019

Up to November 2018, the economic activity index fell 5% with respect to the same month in 2017, mainly because of the performance in the Hotels and Restaurants and Transport and Communications sectors.

The report of the Central Bank of Nicaragua states that "... in the eleventh month of 2018 the IMAE registered a 5.1 percent decrease with respect to November 2017, an average annual variation of -1.9 percent and a decrease in the accumulated variation of 2.6 percent.

Nicaragua: Economic Activity Down 5%

July 2018

During May, economic activity registered a negative year-on-year change of 4.9%, mainly explained by the crisis that the country has been experiencing since mid-April.

After a slowdown in the Monthly Index of Economic Activity in April, a change of -4.9% was reported in May compared to the same month last year. Average annual growth was 2.6% and the variation accumulated up to the month of May was 0.9%.