TODAY NICARAGUA – Increased access to credit in 2014 boosted imports of appliances such as refrigerators, televisions and washing machines, which totaled $121 million, 21% more than in the previous year.
Greater access to credit both through banks and trading companies selling the appliances is the main reason for the sharp increase in imports of these products.
The economist Alejandro Arauz told Laprensa.com.ni that “… 60% of the rise in the import of appliances is due to the aggressive strategy with the distributors of these products giving affordable loans, coupled with the increasing penetration of the telecommunications market. Imports are growing and on the other hand sales are also growing because there is an aggressive placement of appliances with medium-term borrowing. ”
“… television imports had the highest growth last year. In this category alone $35 million was paid out, a little more than $8 million more than in 2013. The increase in value because of televisions, however, was driven by higher imports in tonnes, because according to official figures, the country brought in 1.75 million tons of this product, 1.77 million less tons than last year. ”