After the political and social crisis that began in April, the Nicaraguan economy will lose more than $1.3 billion this year, and GDP could decline by 4%, together with the collateral effects suffered by the countries of the region.
Several indicators have reflected the weak performance of the country's economy since the crisis began.
The complex economic and political situation that has affected Nicaragua since April continues to affect Central America, where exporters report losses of $45 million.
In the past months, cargo transport faced difficulties in moving goods along Nicaragua's highways due to demonstrators' blockades and insecurity, seriously affecting Central American companies.
Nicaraguan business leaders estimate that in the months of June and July there will be drastic drops in exports.
In the first five months of the year, the country sold $1.282 billion worth of goods abroad, which is 2% more than what was reported in the same period in 2017.However, the business sector says that this increase was due to the fact that many exporters decided to liquidate most of their inventory at the beginning of the crisis.
Costa Rican entrepreneurs are concerned about the impact of the crisis in the neighboring country on food exports, which between 2015 and 2017 grew at an average annual rate of 4%.
According to figures from the Promotora del Comercio Exterior (Procomer), last year Costa Rica's food industryexports amounted to $1.618 billion, which is equivalent to an increase of 4.7% compared to the amount reported in 2016.
The decline in red bean exports is caused by crop losses in the first term.
Jorge Molina, executive director of the Center for Export Procedures (CETREX) stated that exports of all beans have suffered a total reduction of only 2%, thanks to black bean exports whose main market is Venezuela.
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