"Growth remains susceptible to adverse shocks to global growth, economic and socio-political stress in Nicaragua, the continued weakness in consumer and business confidence, and uncertainty regarding the implementation of the fiscal reform.”
After the slowdown in growth between 2017 and early 2019, the economy has recovered since mid-2019, as a result of a rebound in services, agriculture and manufacturing, which produced an estimated 2.1% growth in 2019, reported the International Monetary Fund (IMF).
Last year, economic activity and employment generation continued to rise, cumulative inflation reached 5.7% and international reserves were strengthened.
From a statement issued by the Central Bank of Nicaragua:
For the eighth consecutive year, Nicaragua continued to register a positive macroeconomic performance. Economic activity and job creation continued to grow and inflation remained stable, reaching a cumulative variation of 5.68 percent. The management of public finances continued to be prudent, international reserves were strengthened, while the financial system remained sound. An improved international context and good rainfall favored growth of exports, as well as an increase in the flow of family remittances and tourism which contributed to the strengthening of the country's external position.
In its review of the monetary program, the Central Bank has raised the expected economic growth rate for the biennium 2017-18, from 3.4% - 3.7%, to 3.7% - 4.1%.
From the executive summary of the report "Review of the 2017-18 monetary program" by the Central Bank:
The Board of Directors of the Central Bank of Honduras (BCH), in fulfillment of its powers, presents the Monetary Program (MP) Review 2017-2018 published in March of this year. This document contains an update of the macroeconomic framework for the aforementioned biennium, adapting it to thefirst half of year of the international and domestic economy, as well as to the latest perspectives on the world economy.
Gross domestic product recorded a variation of 4.47% in the first quarter of 2016, driven in part by a 4% increase in final consumption expenditure.
From a report by the Central Bank "GDP and balance of payments in the first quarter of 2016":
Economic activity in the first quarter grew by 5.4% (annualized quarterly change), a result that is associated with the positive developments in external demand which increased by 17.5%.This trend was reflected in increased product placement by companies in special regimes related to the sale of equipment and medical devices as well as therecovery in the export of bananas, pineapples and services (4.9% ).
Nicaragua's economy recorded growth of 6.6% in the last quarter of 2015 and an average annual growth of 4.9%.
From a report by the Central Bank of Nicaragua:
In the fourth quarter of 2015, the Nicaraguan economy recorded growth of 6.6% and an average annual growth of 4.9% in the original data, according to the preliminary estimate of quarterly GDP (PIBT by its initials in Spanish).
The Volume Index by Economic Activity in El Salvador closed 2015 with growth of 2.4%, 1.1% more than was recorded in 2014.
From a report by the Central Reserve Bank of El Salvador:
The behavior of indicators of economic activity suggest that 2015 closed with positive growth of 2.4%, according to the results of the Nowcast indicator. The figures at the end of 2015 for the Volume Index by Economic Activity (IVAE by its initials in Spanish) showed moderate growth in the volume produced through its annual change of 1.1% compared to what was achieved in December 2014.
A healthy trade momentum contributed 40% to the rise in loans signed in 2015 in the National Financial System.
In December, the National Financial System (SFN) awarded 1971.4 million cordobas in new loans, representing one of the main uses of financial institutions. Loans were awarded in almost all economic sectors, in particular the categories commercial, agricultural and consumer credit loans.
The IMF noted the positive evolution of all the country's economic indicators, and the drastic fall in poverty, with an increase of 33% in per capita consumption.
From a press release issued by the IMF:
On January 28, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Nicaragua.
Economic developments in 2015 have been broadly positive.
In the first half of the yer, economic activity grew by 3.6% over the same period in 2014, driven in part by the 9% increase in credit to the private sector.
From a statement issued by Banco Central de Honduras:
The Central Bank of Honduras (BCH) presents the "Performance of the Honduran economy for the first half of 2015," which details the most important economic events that occurred in that period.
The organization states that the country has advanced in the process of economic stabilization and has exceeded the quantitative targets set for December 2014, also meeting the benchmarks set for March 2015.
From a press release issued by the International Monetary Fund (IMF):
An International Monetary Fund (IMF) mission, led by Mr. Lisandro Ábrego, visited Tegucigalpa during March 9-17 to conduct the first review of Honduras’ Fund-supported program, approved on December 3, 2014. At the conclusion of the visit, Mr. Ábrego issued the following statement in Tegucigalpa today:
The trade, construction, financial and real estate sectors have remained the drivers of economic dynamism in the first three months of the year.
From a report entitled "Evolution of GDP in the first quarter of 2014," by the Comptroller General of the Republic of Panama:
The implementation of road infrastructure drove the rebound in the construction sector, where business grew by 16%, while the improved performance of retail and wholesale trade was due to an increase in consumption, which is particularly visible in the volume of sales of bulk food, beverages and tobacco, materials and equipment," while in the retail trade, the increase was 9.8%, due to a rise in sales of automobiles, pharmaceuticals and fuels in the country, among other things."
Economic activity showed an increase of 4.6% between January 2013 and January 2014, driven, among other things, by a boom in housebuilding.
Nicaragua's economy has been keeping pace with growth as reflected in the latest report by the Central Bank, in which the results of the economic activity in the last twelve months up to January 2014 have been collected.
During 2013 the Guatemalan economy continued to recover and show dynamism in most sectors in the country.
The Monetary Authority of Guatemala notes that in 2013 the country had a satisfactory rate of economic activity consistent with the recovery that has been seen in the world economy.
The entity predicts a robust 2014 with a strengthening of economic activity domestically, mainly driven by an acceleration in world trade, in which Guatemala is immersed.