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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
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.
$17.34 billion (2010 est.)
country comparison to the world: 132
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$6.375 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
2.8% (2010 est.)
country comparison to the world: 130
[see also: GDP - real growth rate country ranks ]
$2,900 (2010 est.)
country comparison to the world: 169
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
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 ]
2.343 million (2009 est.)
country comparison to the world: 112
[see also: Labor force country ranks ]
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 ]
8% (2010 est.)
country comparison to the world: 89
note:
underemployment was 46.5% in 2008
[see also: Unemployment rate country ranks ]
48% (2005)
[see also: Population below poverty line country ranks ]
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 ]
43.1 (2001)
country comparison to the world: 48
[see also: Distribution of family income - Gini index country ranks ]
22.8% of GDP (2009 est.)
country comparison to the world: 59
[see also: Investment (gross fixed) country ranks ]
revenues: $1.421 billion
[see also: Budget - revenues country ranks ]
expenditures:
$1.511 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
78% of GDP (2010 est.)
country comparison to the world: 19
[see also: Public debt country ranks ]
4.7% (2010 est.)
country comparison to the world: 137
[see also: Inflation rate (consumer prices) country ranks ]
NA% (31 December 2009)
[see also: Central bank discount rate country ranks ]
14.04% (31 December 2009 est.)
country comparison to the world: 61
[see also: Commercial bank prime lending rate country ranks ]
$1.273 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$2.9 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$4.083 billion (31 December 2010 est.)
country comparison to the world: 113
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products; shrimp, lobsters
food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood
1.5% (2009 est.)
country comparison to the world: 141
[see also: Industrial production growth rate country ranks ]
3.286 billion kWh (2007 est.)
country comparison to the world: 122
[see also: Electricity - production country ranks ]
2.569 billion kWh (2007 est.)
country comparison to the world: 131
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
63.95 million kWh (2007 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2008 est.)
country comparison to the world: 152
[see also: Oil - production country ranks ]
29,000 bbl/day (2009 est.)
country comparison to the world: 115
[see also: Oil - consumption country ranks ]
213 bbl/day (2007 est.)
country comparison to the world: 132
[see also: Oil - exports country ranks ]
29,570 bbl/day (2007 est.)
country comparison to the world: 100
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 149
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 155
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 129
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 149
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 110
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 115
[see also: Natural gas - proved reserves country ranks ]
-$819 million (2010 est.)
country comparison to the world: 129
[see also: Current account balance country ranks ]
$3.182 billion (2010 est.)
country comparison to the world: 122
[see also: Exports country ranks ]
coffee, beef, shrimp and lobster, tobacco, sugar, gold, peanuts; textiles and apparel
US 61.98%, El Salvador 7.74%, Costa Rica 3.67% (2009)
$4.7 billion (2010 est.)
country comparison to the world: 120
[see also: Imports country ranks ]
consumer goods, machinery and equipment, raw materials, petroleum products
US 22.63%, Venezuela 12.27%, Mexico 9.05%, Costa Rica 8.66%, China 7.16%, Guatemala 6.59%, El Salvador 5.63% (2009)
$1.58 billion (31 December 2010 est.)
country comparison to the world: 106
[see also: Reserves of foreign exchange and gold country ranks ]
$4.03 billion (31 December 2010 est.)
country comparison to the world: 117
[see also: Debt - external country ranks ]
cordobas (NIO) per US dollar - 21.35 (2010), 20.34 (2009), 19.374 (2008), 18.457 (2007), 17.582 (2006)
This page was last modified 09-Feb-11