| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Nicaragua Economy 2011
https://theodora.com/wfb2011/nicaragua/nicaragua_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese



Page last updated on January 12, 2011

Economy - overview:
Nicaragua, the poorest country in Central America and the second poorest in the Hemisphere, has widespread underemployment and poverty. The US-Central America Free Trade Agreement (CAFTA) has been in effect since April 2006 and has expanded export opportunities for many agricultural and manufactured goods. Textiles and apparel account for nearly 60% of Nicaragua's exports, but increases in the minimum wage during the ORTEGA administration will likely erode its comparative advantage in this industry. ORTEGA's promotion of mixed business initiatives, owned by the Nicaraguan and Venezuelan state oil firms, together with the weak rule of law, could undermine the investment climate for domestic and international private firms in the near-term. Nicaragua relies on international economic assistance to meet internal- and external-debt financing obligations. Foreign donors have curtailed this funding, however, in response to November 2008 electoral fraud. Managua has an IMF extended Credit Facility program, which could help keep the government's fiscial deficit on target during the 2011 election year and encourage transparency in the use of Venezuelan off-budget loans and assistance. In early 2004, Nicaragua secured some $4.5 billion in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative, however, Managua still struggles with a high public debt burden. Nicaragua is gradually recovering from the global economic crisis as increased exports drove positive growth in 2010. The economy is expected to grow at a rate of about 3% in 2011.

GDP (purchasing power parity):
$17.34 billion (2010 est.)
country comparison to the world: 132

$16.87 billion (2009 est.)
$17.12 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$6.375 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.8% (2010 est.)
country comparison to the world: 130

-1.5% (2009 est.)
2.8% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,900 (2010 est.)
country comparison to the world: 169

$2,900 (2009 est.)
$3,000 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 17.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.5%
[see also: GDP - composition by sector - industry country ranks ]
services: 56% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
2.343 million (2009 est.)
country comparison to the world: 112
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 28%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 19%
[see also: Labor force - by occupation - industry country ranks ]
services: 53% (2006 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8% (2010 est.)
country comparison to the world: 89

8.2% (2009 est.)
note: underemployment was 46.5% in 2008
[see also: Unemployment rate country ranks ]

Population below poverty line:
48% (2005)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 41.8% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
43.1 (2001)
country comparison to the world: 48

60.3 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
22.8% of GDP (2009 est.)
country comparison to the world: 59
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $1.421 billion
[see also: Budget - revenues country ranks ]
expenditures: $1.511 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
78% of GDP (2010 est.)
country comparison to the world: 19

63% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
4.7% (2010 est.)
country comparison to the world: 137

3.7% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA% (31 December 2009)

NA% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14.04% (31 December 2009 est.)
country comparison to the world: 61

13.17% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.273 billion (31 December 2010 est)

$989.5 million (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.9 billion (31 December 2010 est.)

$2.586 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.083 billion (31 December 2010 est.)
country comparison to the world: 113

$4.161 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products; shrimp, lobsters

Industries:
food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood

Industrial production growth rate:
1.5% (2009 est.)
country comparison to the world: 141
[see also: Industrial production growth rate country ranks ]

Electricity - production:
3.286 billion kWh (2007 est.)
country comparison to the world: 122
[see also: Electricity - production country ranks ]

Electricity - consumption:
2.569 billion kWh (2007 est.)
country comparison to the world: 131
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
63.95 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2008 est.)
country comparison to the world: 152
[see also: Oil - production country ranks ]

Oil - consumption:
29,000 bbl/day (2009 est.)
country comparison to the world: 115
[see also: Oil - consumption country ranks ]

Oil - exports:
213 bbl/day (2007 est.)
country comparison to the world: 132
[see also: Oil - exports country ranks ]

Oil - imports:
29,570 bbl/day (2007 est.)
country comparison to the world: 100
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 149
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 155
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 129
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 149
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 110
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 115
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$819 million (2010 est.)
country comparison to the world: 129

-$841.1 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$3.182 billion (2010 est.)
country comparison to the world: 122

$2.593 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
coffee, beef, shrimp and lobster, tobacco, sugar, gold, peanuts; textiles and apparel

Exports - partners:
US 61.98%, El Salvador 7.74%, Costa Rica 3.67% (2009)

Imports:
$4.7 billion (2010 est.)
country comparison to the world: 120

$3.481 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
consumer goods, machinery and equipment, raw materials, petroleum products

Imports - partners:
US 22.63%, Venezuela 12.27%, Mexico 9.05%, Costa Rica 8.66%, China 7.16%, Guatemala 6.59%, El Salvador 5.63% (2009)

Reserves of foreign exchange and gold:
$1.58 billion (31 December 2010 est.)
country comparison to the world: 106

$1.573 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.03 billion (31 December 2010 est.)
country comparison to the world: 117

$3.633 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Exchange rates:
cordobas (NIO) per US dollar - 21.35 (2010), 20.34 (2009), 19.374 (2008), 18.457 (2007), 17.582 (2006)


NOTE: The information regarding Nicaragua on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2011 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2011 should be addressed to the CIA.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

https://theodora.com/wfb2011/nicaragua/nicaragua_economy.html


This page was last modified 09-Feb-11
Copyright © 1995-2011 ITA all rights reserved.