Nicaragua

Nicaragua Economic Outlook

July 15, 2014

Nicaragua and the Chinese-owned HKND group unveiled the proposed route for an inter-ocean shipping canal that will compete directly with the Panama Canal. The Nicaragua Canal, priced at USD 40 billion, will stretch 278 kilometers, 105 kilometers of which will cross Lake Nicaragua. HKND will lead the canal’s construction and was granted a 50-year concession in June to construct, operate and maintain it. The government expects that the project will significantly promote economic growth. Construction is expected to begin by end of this year.

Nicaragua Economic Data

2009 2010 2011 2012 2013
Population (million)5.85.96.06.16.1
GDP per capita (USD)1,4611,5031,6511,7571,844
GDP (USD bn)8.48.99.910.711.3
Economic Growth (GDP, annual variation in %)-2.83.37.33.44.6
Consumption (annual variation in %)1.14.05.04.43.7
Investment (annual variation in %)-29.1-6.721.65.5-8.3
Unemployment Rate8.27.85.95.96.2
Fiscal Balance (% of GDP)-3.2-1.7-0.60.00.1
Money (annual variation in %)10.424.79.417.119.6
Inflation Rate (CPI, annual variation in %, eop)0.99.28.06.65.7
Inflation Rate (CPI, annual variation in %)3.75.58.17.27.1
Benchmark Interest Rate (%)14.0513.3210.7912.0014.99
Exchange Rate (vs USD)20.8421.8822.9723.8525.11
Exchange Rate (vs USD, aop)20.2221.3622.4323.5324.47
Current Account (% of GDP)-9.5-10.1-13.1-12.2-11.5
Current Account Balance (USD bn)-0.8-0.9-1.3-1.3-1.3
Trade Balance (USD billion)-2.1-2.3-2.9-3.2-2.8
Exports (USD billion)1.41.92.32.72.4
Imports (USD billion)3.54.25.25.95.6
Exports (annual variation in %)-6.735.721.117.4-11.1
Imports (annual variation in %)-18.620.023.813.5-5.1
International Reserves (USD)1.61.81.91.91.8
External Debt (% of GDP)44.143.841.440.439.8

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Nicaragua Facts

Value Change Date
Exchange Rate25.760.0 %Jul 31

Nicaragua Economic Growth

July 15, 2014

FocusEconomics panelists expect the economy to grow 4.4% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects economic growth of 4.5%.

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