Nicaragua Economy Grew 4.7% in 2014


TODAY NICARAGUA – The fastest growing sectors were transport and communications, with 7.4%; personal and business services with 5.9%; trade, hotels and restaurants, 5.5%; Manufacturing 5%, and agriculture, 4.4%.

From a statement issued by the Central Bank of Nicaragua:

The Central Bank of Nicaragua (BCN) wishes to make public knowledge that it is expected that economic activity in the country at the close of 2014 grew by 4.7% (4.5% in 2013) as a result of more buoyant demand and aggregate supply.

With respect to demand, both internal and external demand behaviour patterns were observed. Domestic demand contributed 3.2% to growth, driven by the growth of individual consumption (4%) and gross fixed public capital formation (8.3%). Meanwhile, net external demand contributed 1.5%, reflecting a growth in exports.