Nicaragua economy expected to grow by 4%~4.5% in 2011

2011-02-08

Antenor Rosales, President of Nicaragua Central Bank pointed out: Thanks to the common efforts by the entrepreneurs, government and laborers, Nicaragua’s economy may extend the momentum of 2010 to continually grow in 2011. Nicaragua got its economy growing by 4.5% in 2010 and will have its economy growing up to 4%~4.5% in 2011, while the commodity prices are to raise by 7~8%. Thanks to the execution of Free Trade Agreement (CAFTA) with the United States in 2010, Nicaragua grew by 33% in export and its export to the United States grew even up to 40%. Direct foreign investment into the country also grew by 15%, amounting up to US$500 million. In 2011, Nicaragua is anticipated to lure even more foreign investment, up to US$660 million.