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14 de March de 2022
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INCREASE IN MINIMUM WAGE IN SOME SECTORS IN NICARAGUA

INCREASE IN MINIMUM WAGE IN SOME SECTORS IN NICARAGUA Increase in Minimum Wage in Some Sectors in Nicaragua In Nicaragua, the minimum wage has increased by 3% in most economic sectors, except for some industries such as artisan and tourism, where the increase will be 1%. It is important to note that the minimum wage […]

INCREASE IN MINIMUM WAGE IN SOME SECTORS IN NICARAGUA

Increase in Minimum Wage in Some Sectors in Nicaragua

In Nicaragua, the minimum wage has increased by 3% in most economic sectors, except for some industries such as artisan and tourism, where the increase will be 1%.

It is important to note that the minimum wage is set by the State, and no worker, under any circumstances, may receive a salary below the established amount. This increase takes effect for all the listed activities starting March 1, 2022, and will remain in force until February 28, 2023.

The minimum wage is set in Córdobas, the national currency of Nicaragua. However, if converted to U.S. dollars, the minimum wage for the agricultural sector is US$126.46, equivalent to C$4,414.91.

New Minimum Wage Rates Effective March 2022:

  • Agricultural sector: C$4,414.91

  • Fishing: C$6,713.01

  • Mining and quarrying: C$7,929.01

  • Manufacturing industry: C$5,936.34

  • Micro, small artisan, and national tourism industry: C$4,651.47

  • Electricity, water, trade, restaurants, hotels, transportation, storage, and communications: C$8,097.84

  • Construction, financial institutions, and insurance: C$9,880.17

  • Community, social, and personal services: C$6,189.23

  • Central and municipal government: C$5,505.57

Special Considerations for Free Trade Zone Industries

It is important to note that the minimum wage for industries under the fiscal regime (Free Trade Zones) will not be subject to an increase this year. This is because, in January 2021, this sector already received a salary adjustment of 8.25%. Therefore, the minimum wage in this sector remains at C$6,926.00.

For more information, please do not hesitate to contact one of our attorneys, who will be happy to assist you with any inquiries.

Sincerely,

Lexincorp Nicaragua Team