Nicaragua Economic Forecast

Nicaragua Economic Outlook

February 17, 2015

The Nicaragua economy is expected to have expanded 4.1% in 2014, which would mark the slowest pace of growth in four years. While the economy started 2014 on a strong footing, drought and shrinking construction activity led to a deceleration in Q2 2014. Growth picked back up slightly in Q3, driven by rising consumption and exports. More recent indicators suggest that growth remained solid in the final quarter of the year. Meanwhile, the economic impact of the construction of the inter-oceanic Nicaragua Canal, which started in December, is uncertain. While the government expects the project to boost economic growth, many questions remain regarding the feasibility of the project and its potential economic consequences.

Nicaragua Economic Data

2009 2010 2011 2012 2013
Population (million)5.95.96.06.16.1
GDP per capita (USD)1,4361,5031,6511,7461,839
GDP (USD bn)8.48.99.910.611.3
Economic Growth (GDP, annual variation in %)-2.83.35.75.04.6
Consumption (annual variation in %)1.24.54.94.63.8
Investment (annual variation in %)-29.1-6.621.65.5-8.3
Unemployment Rate8.27.85.95.95.9
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 (%)14.0513.3210.7912.0014.98
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)-9.5-10.1-13.1-12.3-11.5
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)1.61.81.91.92.0
External Debt (% of GDP)46.446.143.442.541.6

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Nicaragua Facts

Value Change Date
Exchange Rate26.250.0 %Mar 04

Nicaragua Economic Growth

February 17, 2015

Nicaragua’s growth prospects weakened slightly. FocusEconomics Consensus Forecast panelists expect the economy to grow 4.3% in both 2015 and 2016.

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