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Testimonial about the success of the garment manufacturing company Cupid Nicaragua, operating in Nicaragua since 1995.
Oct. 10, 2013 - The Index of Industrial Production of Nicaragua grew by 5.2 percent during the second trimester of 2013, a significant growth rate compared to the 0.7 percent reached during the same period in 2012, according to the Economic Commission for Latin America and the Caribbean (ECLAC).
The Index of Industrial Production, published in the International Economy Situation Report by the ECLAC, measures the monthly variations of the production activity in the industry sector, which includes manufacturing and production, extractive industries, and electric energy, water and gas distribution.
Ovidio Reyes, Director of the Central Bank of Nicaragua, pointed out that another way of measuring the growing strength of Nicaragua’s industry sector is through the increase in energy consumption, which up to May of 2013 had grown by 3.8 percent and reached 275,800 megawatts. This increase has been caused by the free zone activities, which comprise 215 companies in the country and generate more than 103,000 jobs, with exports that reached US$2,327.10 last year. Furthermore, during the first semester of this year, free zone exports reached US$1,173.75 million, an increase of 11 percent compared to the same period last year.
Also, Nicaragua’s Monthly Economic Activity Indicator grew 4.9 percent up to June of 2013, supported mainly by the sectors of manufacturing, construction, forestry, and fishing, according to a report by the Central Bank of Nicaragua.
The ECLAC has predicted a growth of 5 percent for the country’s economy at the end of 2013, which would be the second highest in Central America and one of the top five in Latin America.