In Nicaragua, the guild of transporters reports that in the customs of the country is reviewed 40% of cargo trucks, a situation causing delays because the international standard is to inspect a maximum of 10% of units.
Managers of the Association of Nicaraguan Transporters (ATN) reported that since the beginning of the political and social crisis in the country in April 2018, the time for a truck to enter Nicaraguan borders has increased and carriers can spend up to a day.
Explained by the political and economic crisis that Nicaragua is going through, in the first quarter of the year imports of vehicles in the country fell 65%, so that companies survive on the business of workshops.
The "Foreign Trade" report prepared by the Central Bank of Nicaragua (BCN), states that in the first four months of the year imports of transport equipment reached $42 million, a figure that is 65% lower than that recorded from January to April 2018.
Businessmen in Nicaragua estimate that this year the sales of houses will not exceed one thousand units throughout the country, which is explained by the economic situation that the country has been living for fourteen months now.
Although in April 2018 the political and social crisis broke out in the country, builders managed to sell 3,108 homes last year, but the figure was 34% lower than the 4,738 homes sold in 2017.
Because of decreasing demand for credit since April last year, banks in the Nicaraguan plaza are filling up with money they can not place in the market.
According to estimates by the Nicaraguan Foundation for Economic and Social Development (Funides) based on official figures, so far this crisis has boosted the liquidity of banks, increasing the proportion of available money that financial institutions have with respect to their obligations to the public, going from 31.76% reported in March 2018 to 46.73% recorded in May this year.
The political crisis that has been going on for more than a year has led wholesale travel agencies to remove the country from their portfolio of tourist destinations because of insecurity.
Claudia Aguirre, president of the Nicaraguan Association of Receptive Tourism (Antur), explained to Elnuevodiario.com.ni that "... 2019 is proving to be a difficult year, as the crisis that began in April last year is impacting current activities and the outlook is bleak for the coming months."
After 14 months of socio-political crisis in Nicaragua, companies in the country face a reduction in consumption and investment, as well as the impact on national economic activity of rising unemployment.
According to studies conducted by the Consejo Superior de la Empresa Privada (COSEP) and the Nicaraguan Foundation for Economic and Social Development (FUNIDES), the local economy faces a contraction in economic activity that continues to deepen, prevailing uncertainty and distrust in consumers and investors.
In Nicaragua, the Ortega administration ordered the closure of five of the 38 branches operated by the Medco pharmacy chain for having joined the national strike on May 23.
The order to cease operations of the five branches was notified through the Ministry of Health, however, the company will appeal the decision of the authorities.
Laprensa.com.ni review that representatives of the company reported that "...
Because of the impact of the crisis, for this year it is estimated that the contraction in economic activity will be between 7% and 11%, and the open unemployment rate could increase from 5.5% to 8.5%.
Nicaraguan Foundation for Economic and Social Development (Funides), contains estimates of the behavior of the country's economy for this year, within the framework of the political and economic crisis it is going through.
Partly because of the government's reduced availability of resources from domestic sources, public investment in the first three months of the year totaled $87.7 million, 52% less than in the same period in 2018.
According to reports from the Ministry of Finance and Public Credit, the Public Investment Plan (PIP), which includes projects for the construction, expansion and rehabilitation of infrastructure, decreased by $95.7 million between the first quarter of 2018 and the same period of 2019, from $183.4 million to $87.7 million.
Since April 25, the Ortega administration in Nicaragua is charging an additional fee of $0.05 for each kilogram exported or imported by air.
For the country's business sector, the charge applied by the Nicaraguan government has some local companies on the verge of closure and will cause a drop of about $50 million annually.
Nicaraguan carriers estimate that during the first quarter of the year the movement of cargo in the country has decreased by up to 55%, mainly because of the decline in economic activity.
For the representatives of the Nicaraguan Association of Transporters, local fuel prices have also affected them, as their operations have become more expensive compared to other countries in the region.
During the first quarter of the year in Nicaragua, premium income was down 6% from the same period in 2018, while claims payments increased 14%.
Figures from the Superintendence of Banks and Other Financial Institutions (Siboif) indicate that between January and March 2018, and the same period in 2019, premiums in the country fell from $55 million to $53 million.
A drastic fall in productive activity, outflows of investments and the disappearance of thousands of formal jobs are some of the consequences a year after the political and economic crisis in Nicaragua.
In March 2018, CentralAmericaData reported the figures that reflected the economic boom that Nicaragua was experiencing: formal employment grew at a year-on-year rate of close to 3%, economic activity each month recorded year-on-year growth rates of between 4% and 5%, while consumption and imports increased. Only a month later, on Friday, April 19, a series of events occurred that determined a radical change in the trend observed until then. The announcement of the reform of the Nicaraguan Social Security Institute triggered a social, political and economic crisis that the country is suffering so far.
Despite Nicaragua's political and economic crisis, tobacco exports in 2018 totaled $222 million, 10% more than in 2017.
Statistics from the Central Bank of Nicaragua (BCN) show that between 2017 and 2018 sales abroad under the free trade zone regime increased by $20 million, from $202 million to $222 million.
In accordance with the decreases reported last year, in February 2019 there were 755,908 social security workers, 17% less than in the same month of 2018.
The reduction in the number of workers registered with the Nicaraguan Institute of Social Security (INSS) is caused by the behavior of the employment level in the activities of commerce, construction, finance and transport, storage and communications, reported the Central Bank of Nicaragua (BCN).
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