Nicaragua's economy shrank 7.9 percent year-on-year in the second quarter of 2020, after growing a downwardly revised 1.7 percent in the previous period. It was the sharpest contraction in over a year, as the coronavirus pandemic hit the economy. source: Banco Central de Nicaragua

GDP Annual Growth Rate in Nicaragua averaged 3.47 percent from 1995 until 2020, reaching an all time high of 10.90 percent in the fourth quarter of 1999 and a record low of -8.90 percent in the first quarter of 2019. This page provides - Nicaragua GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nicaragua GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.

GDP Annual Growth Rate in Nicaragua is expected to be -7.70 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 7.50 in 12 months time. In the long-term, the Nicaragua GDP Annual Growth Rate is projected to trend around 5.50 percent in 2021 and 1.50 percent in 2022, according to our econometric models.

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Nicaragua GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.90 1.70 10.90 -8.90 1995 - 2020 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%
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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. .