Not a Good Year for transport business

Because of the social and political crisis, businessmen working in the freight transport sector in Nicaragua estimate that by the end of this year their operations will have been down by up to 25%.

Wednesday, November 21, 2018

According to the Transporters Association of Nicaragua (ATN), the crisis that began in April this year has caused losses in cargo transport activity in the country, and the operations of companies in the sector are estimated to register a 25% reduction in 2018 compared to 2017.

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Regarding the decline in transport activity, ATN President Marvin Altamirano said to that "... After the crisis, some companies began to work with 50% of the staff, some continue, but we are expecting to recover at least 70% or 80% by the end of the year."

Altamirano added that "... With the 2017 forecasts, it is no longer possible to reach 100%."

ATN has more than 5,000 members and at least 60,000 trucks, generating up to 100,000 jobs among drivers, mechanics and administrative staff nationwide.

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More on this topic

Nicaragua to Charge for Freight Transportation

March 2019

The Nicaraguan authorities plan to impose a customs tax on the transport of cargo in transit or with final destination in the country as of March 15.

The resolution that will allow the collection was signed last February 28 by the general director of the General Directorate of Customs Services of Nicaragua, however, the authorities still do not specify the amount required from carriers.

Million-dollar Losses for Tourism

February 2019

Because of the crisis affecting the country since April last year, it is estimated that during 2018 the losses of the Nicaraguan tourism sector totaled $440 million, and more than 62 thousand jobs disappeared.

The arrival of tourists to the country is another figure reporting a considerable decline last year, since between 2017 and 2018 the number of visitors who came to Nicaragua fell 55%, going from 1.7 million to 800 thousand.

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.

Complicated Economic Outlook

June 2018

In the optimistic scenario, which foresees an end to the crisis in Nicaragua by the end of July, economic growth at the end of 2018 would be only 1.7%, with $400 million losses in added value.

The Nicaraguan Foundation for Economic and Social Development projects that a possible first scenario would be one where "... the government accepts an early exit negotiated and implemented no later than the end of July, thus achieving a framework of understanding focused on the issues of justice and democratization, putting an end to repression, violence and citizen insecurity."

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