The country's economic activity this year fell from 16 percentage points to 12.1% in June, unlike the same month of 2017, when it posted a positive 3.9%, the Central Bank of Nicaragua (BCN) reported.
This negative trend so far this year is a reflection of the socio-political crisis that Nicaragua has faced for four months. The Monthly Economic Activity Index (IMAE) of the BCN registered a decrease to minus 4.9% in May, mainly due to the cooling of the livestock sector, forestry and timber, trade, hotels and restaurants, construction, production, transport and communication. .
They shoot a caravan in Masaya
The activities that are least affected by the slowdown in the economy are agriculture in June, which recorded a positive figure of 3.9%; health by 3.6%; education with 2.2% and home ownership with 1.3%, the details of the report. The biggest contraction is registered in hotels and restaurants with less 45.9% in June, and in the period from January to June it fell to 10.8%. "The behavior of this activity was mainly influenced by the lower influx of foreign visitors," says the IMAE report.
The tourism sector points out that the losses amount to USD 250 million, and that they deviate from the expectations of one billion dollars and the arrival of more than 1.7 million tourists, estimated before the outbreak of civil protests.
The same negative trend is recorded in the production of beef, poultry, pigs and consignments of live cattle, which reduced this activity by 25.7% in the sixth month of the year and from January to June minus 11.6%.
Almagro: "Nicaragua needs elections"
Even in the Consumption and Trade Production Plan of 2018-2019 adjustments were made to production targets for that economic activity.
Construction is less 35.6% and accumulated in the first six months of the year is 14.6% less. "Among the building materials that have been removed are: steel, ready-mixed concrete, cement, quarry, wood, asphalt, blocks, paving stones, sand and gravel, among other things" emphasizes the IMAE.
The contraction in trade is minus 27.1% and in the period from January to June minus 4.7%, encouraged by the decline in wholesale and retail trade.
Civic Alliance and bishops support the IACHR
The manufacturing industry's activities dropped to minus 17.4%, although it was 0.4% in the cumulative period from January to June, "due to the lower production of meat and fish, textiles, non-metals, textiles, harnesses , petroleum products, among others.This behavior was mitigated by the growth recorded in the production of cigars. "
The IMAE is an indicator that measures the 17 most important sectors of economic activity in a country and is used for investment decisions.