Nicaragua’s economy continues to soar

MANAGUA, Nicaragua - Jan. 15, 2014 - PRLog -- Nicaragua’s economy grew between 4.5 and 5 percent in 2013, according to projections of the Central Bank of Nicaragua. In 2012, the country’s economy grew 5 percent, one of the highest growth rates in Latin America.

2013 was also a year of growth for Nicaragua’s investment, registering an estimate of US$1,500 million in terms of foreign direct investment (FDI) inflows at year end, a 17 percent increase compared to 2012 and marking the highest historical figure the country has ever reached. FDI inflows were mainly from the energy, telecommunications, mines, and industry and trade sectors.

Additionally, according to the Central Bank of Nicaragua’s projections, merchandise exports will be reaching approximately US$2,576 million in 2013, while free zones exports are projected to reach US$2,608 million. Total exports, US$5,183 million, will be increasing by 4 percent in comparison to 2012. Also, during the first five days of this year, Nicaragua’s exports have reached US$27 million, according to the Center for Exports Procedures (CETREX, for its acronym in Spanish).

However, it seems Nicaragua is not only attracting the attention of investors and trade partners, but also tourists. Tourism will take part in the country’s economic growth for 2014, as the country has been internationally featured as an exceptional destination for this year. Nicaragua has been acknowledged for its beautiful beaches, diverse nature, low living costs, and adventure opportunities by renowned international media including Lonely Planet, Business Insider, The Huffington Post, International Living, Condé Nast Traveller, Travel and Leisure and MONDO.