The Nicaragua retail industry projects US$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 Cámara de Comercio y Servicios de Nicaragua (CCSN) – 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.
Rosendo Mayorga, president of the CCSN, explained to Elnuevodiario.com.ni that “… Christmas is one of the most economically dynamic times throughout the year, which is well received by the sector.”
“… Mayorga explained that those $680 million will be financed in different ways: $369 million from the Christmas or thirteenth month bonus; $25 million corresponding to 50% of the fourteenth month paid by the central government; $2 million from the solidarity bonuses; and $238 million from family remittances. On top of this there is $37 million in personal loans and $9 million in credit cards.”