Nicaragua Attracts Record Foreign Direct Investment in 2023
In a positive development for Nicaragua’s economy, the country has attracted a record amount of Foreign Direct Investment (FDI) in 2023. According to economic authorities, the total gross FDI reached 2,534.50 million dollars, a significant increase of 37.6 percent compared to the previous year.
The authorities have highlighted that the growth in FDI can be attributed to increased investments in industries such as energy and mining, as well as the commerce and services sectors. The FDI represents 14.2 percent of the Gross Domestic Product (GDP) and has played a significant role in financing the country’s current account balance.
Despite the positive news on FDI, some other economic indicators did not perform as well. The report also highlighted the growth of remittances, which reached a record high of 4,460.10 million dollars in 2023. However, exports and tourism income showed mixed results, with merchandise exports seeing a slight decrease and tourism income experiencing growth compared to the previous year.
Overall, the increase in FDI signals positive momentum for Nicaragua’s economy, with more external investment flowing into the country’s key sectors. While challenges remain in other areas, the record FDI numbers are a testament to the country’s ability to attract foreign investment and drive economic growth.