Support our Sponsor

. . Flags of the World Maps of All Countries

  • |Main Index|
  • 1991 INDEX
  • Country Ranks
  • Home PageCountry Index

    Nicaragua Economy - 1991

      Overview: Government control of the economy historically has been extensive, although the Chamorro government has pledged to reduce it. The financial system is directly controlled by the state, which also regulates wholesale purchasing, production, sales, foreign trade, and distribution of most goods. Over 50% of the agricultural and industrial firms are state owned. Sandinista economic policies and the war have produced a severe economic crisis. The foundation of the economy continues to be the export of agricultural commodities, largely coffee and cotton. Farm production fell by roughly 7% in 1989, the fifth successive year of decline. The agricultural sector employs 44% of the work force and accounts for 23% of GDP and 86% of export earnings. Industry, which employs 13% of the work force and contributes about 25% to GDP, showed a drop of 7% in 1989 and remains below pre-1979 levels. External debt is one of the highest in the world on a per capita basis. In 1990 the annual inflation rate was 11,800%, sharply up from 1,800% in 1989.

      GDP: $1.7 billion, per capita $470; real growth rate - 1.0% (1990 est.)

      Inflation rate (consumer prices): 11,800% (1990)

      Unemployment rate: 35% (1990)

      Budget: revenues $244 million; expenditures $550 million, including capital expenditures of $73 million (1988)

      Exports: $298 million (f.o.b., 1989); commodities--coffee, cotton, sugar, bananas, seafood, meat, chemicals; partners--OECD 75%, USSR and Eastern Europe 15%, other 10%

      Imports: $710 million (c.i.f., 1989); commodities--petroleum, food, chemicals, machinery, clothing; partners--Latin America 30%, US 25%, EC 20%, USSR and Eastern Europe 10%, other 15% (1990 est.)

      External debt: $9 billion (December 1990)

      Industrial production: growth rate - 7% (1989); accounts for about 25% of GDP

      Electricity: 415,000 kW capacity; 1,342 million kWh produced, 360 kWh per capita (1990)

      Industries: food processing, chemicals, metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear

      Agriculture: accounts for 23% of GDP and 44% of work force; cash crops--coffee, bananas, sugarcane, cotton; food crops--rice, corn, cassava, citrus fruit, beans; variety of animal products--beef, veal, pork, poultry, dairy; normally self-sufficient in food

      Economic aid: US commitments, including Ex-Im (FY70-89), $294 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $1,186 million; Communist countries (1970-89), $3.5 billion

      Currency: cordoba (plural--cordobas); 1 cordoba (C$) = 100 centavos

      Exchange rates: cordobas (C$) per US$1--13,300,000 (January 1991), 15,655 (1989), 270 (1988), 102.60 (1987), 97.48 (1986), 38.90 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Nicaragua on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 1991 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 1991 should be addressed to the CIA.

    Support Our Sponsor

    Support Our Sponsor

    Please ADD this page to your FAVORITES - - - - -

    Revised 08-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)