Nicaragua's economy shrank 7.7 percent year-on-year in the fourth quarter of 2018, following a downwardly revised 4.4 percent fall in the previous period. It was the steepest contraction since at least 1995, as output fell further in construction (-33.7 percent vs -9.8 percent in Q3); transportation & communications (-13.0% vs -5.5%); retail trade (-19.4 percent vs -17 percent); financial intermediation (-14.1 percent vs -6.9 percent); real estate (-3.3 percent vs -1.8 percent); public administration (-1.1 percent vs 0.9 percent) and forestry & wood extraction (-7.4 percent vs -2.1 percent). Also, output dropped in fishing (-1 percent vs 7.9 percent) and growth slowed in manufacturing (0.2 percent vs 5.2 percent); health (2.2 percent vs 3 percent); mining & quarrying (4.4 percent vs 8.1 percent); electricity (4.3 vs 7.5 percent) and water (2.9 percent vs 5.4 percent). Considering full 2018, the economy contracted 3.8 percent compared to a 4.7 percent expansion in 2017.

GDP Annual Growth Rate in Nicaragua averaged 3.93 percent from 1995 until 2018, reaching an all time high of 10.90 percent in the fourth quarter of 1999 and a record low of -7.70 percent in the fourth quarter of 2018. This page provides - Nicaragua GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Annual Growth Rate in Nicaragua is expected to be -2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Nicaragua to stand at 1.50 in 12 months time. In the long-term, the Nicaragua GDP Annual Growth Rate is projected to trend around 1.50 percent in 2021 and 2.40 percent in 2022, according to our econometric models.

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Nicaragua GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.70 -4.40 10.90 -7.70 1995 - 2018 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2018-08-21 10:00 PM Q1 2.3% 4.3% 2.4%
2018-10-19 11:00 PM Q2 -4.4% 2.5% -4.6%
2019-01-11 09:00 PM Q3 -4.8% -4.6% -4.2%
2019-04-01 10:00 PM Q4 -7.7% -4.4% -4%

Nicaragua GDP Annual Growth Rate
The biggest sector of Nicaragua's economy is services (61 percent of GDP), including internal trade (13 percent); transport and communications (9 percent); real estate activities (7 percent) and public administration (7 percent). Industry contributes to 23 percent of GDP with manufacturing (16 percent) and construction (3 percent) accounting for the largest share. The agriculture, livestock, forestry and fishing sector creates 16 percent of the wealth, mainly in agriculture (8 percent) and livestock (6 percent). On the expenditure side, household consumption is the main component of GDP (79 percent), followed by gross fixed capital formation (32 percent) and government spending (15 percent). Exports of goods and services represent 42 percent of GDP while imports account for 68 percent, subtracting 26 percent of total GDP. .