Nicaragua Economic Activity Up 4.9% up to April 2017

Scene from the market in Rivas, a small city set to become the heart of activity around the canal.

TODAY NICARAGUA – From a report by the Central Bank of Nicaragua, in April, the monthly index of economic activity (IMAE) grew by 4.9 percent compared to April 2016.

Meanwhile, the annual average variation was 4.9 percent and accumulated growth in the January-April period resulted in 5.4 percent.

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The activities with the highest growth were: hotels and restaurants, 18.0 percent; Exploitation of mines and quarries, 10.4; Construction, 10.3 percent; Public administration and defense, 8.3 per cent; Financial intermediation and related services, 8.1 per cent; Fishing and aquaculture, 7.6 percent; Manufacturing industry, 5.3 percent; among others. 

Remittances are a major source of income, equivalent to 15% of the country’s GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.

Read full report (in spanish).

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