The Losses Generated by the Crisis

In Nicaragua, retail companies estimate that the damages caused to their facilities and inventory, together with the drop in consumption, have already generated losses of $70 million.

Tuesday, May 8, 2018

In the same vien as the situation reported by companies in the tourism sector days ago, the Chamber of Commerce and Services of Nicaragua (CCSN) has reported that due to the crisis affecting the country, entrepreneurs engaged in commercial activities have recorded losses of approximately $10 million in their facilities, $26 million in damage to their inventories and $35 million in damages to consumption.

See "Nicaragua and Losses in the Tourism Sector"

In relation to the damages to commercial sector assets the president of the CCSN, Rosendo Mayorga, explained to that "... 'So far the data we have is that in the first 13 days of the protests, that is to say, between April 18 and 30, the damage to property, meaning damage to buildings and commercial facilities, is estimated at 10 million dollars'."

See also "Honeymoon between businessmen and government ends "

Mayorga explained that " ... additionally we must add the effects "on the inventory of all commercial companies that suffered damages, which are estimated at 25.5 million dollars ... Only one of the supermarket chains operating in the country reported losses in 17 stores'."

The union representative concluded that " ... the affects are serious and to those calculations of the last 13 days of April will later have to add what has happened in the course of May. I hope this does not go on too long.'" 

More on this topic

Bad Times for the Retail Sector

June 2019

In Costa Rica, the retail sector is going through one of its worst moments in recent years, since several jobs have been lost and local unemployment is increasing.

Figures from the Economic and Social Observatory of the National University (UNA) show that the commercial sector has lost 15,446 jobs in recent years as a result of the slowdown in consumption in the country.

Crisis in Nicaragua: $1 billion in Losses

August 2018

In 100 days of political and social crisis in Nicaragua, entrepreneurs estimate that businesses dedicated to trade and services have lost earnings of $1 billion.

Representatives from the Chamber of Commerce and Services of Nicaragua (CCSN), reported that companies dedicated to trade projected that by 2018 they would reach sales of $2.3 billion, however, due to the crisis that has affected the different sectors of the economy that will be impossible.

Nicaragua: Retail Trade to Grow 7% in 2018

January 2018

The union of merchants has reported a 7.6% increase in commercial activity in 2017, and expects closing this year with a 7% increase and sales of $2.3 billion.

Figures from the Chamber of Commerce and Services of Nicaragua (CCSN) detail that commercial activity generated $2.184 billion during the year 2017, registering a growth of 6.9% compared to 2016. The estimate of growth of almost 7% for this year is based mainly on growth of formal employment and an increase in family remittances, according to the president of the CCSN, Rosendo Mayorga.

Good Prospects for Retail in Nicaragua

November 2017

The retail industry projects $680 million in sales in the Christmas and end of the year season, which would represent a 7% increase compared to the 2016 season.

The Chamber of Commerce and Services of Nicaragua projects an increase in sales in the two months remaining until the end the year, especially for products such as food, beverages, textiles, clothing, toys, appliances and vehicles.

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