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Nicaragua Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Nicaragua Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Nicaragua, the poorest country in Central America and the second poorest in the Western Hemisphere, has widespread underemployment and poverty. GDP growth of 4.5% in 2017 was insufficient to make a significant difference. Textiles and agriculture combined account for nearly 50% of Nicaragua's exports. Beef, coffee, and gold are Nicaragua’s top three export commodities.The Dominican Republic-Central America-United States Free Trade Agreement has been in effect since April 2006 and has expanded export opportunities for many Nicaraguan agricultural and manufactured goods.In 2013, the government granted a 50-year concession with the option for an additional 50 years to a newly formed Chinese-run company to finance and build an inter-oceanic canal and related projects, at an estimated cost of $50 billion. The canal construction has not started.

GDP (purchasing power parity):
$36.22 billion (2017 est.) $34.66 billion (2016 est.) $33.11 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 125

GDP (official exchange rate):
$13.69 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.5% (2017 est.) 4.7% (2016 est.) 4.9% (2015 est.)
country comparison to the world: 55
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$5,800 (2017 est.) $5,600 (2016 est.) $5,400 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 165

Gross national saving:
22.7% of GDP (2017 est.) 22.7% of GDP (2016 est.) 23.6% of GDP (2015 est.)
country comparison to the world: 69
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 70.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 15.3%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 29.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.7%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 40.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -56.2% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 15.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 24.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 50.8% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining

Industrial production growth rate:
5.4% (2017 est.)
country comparison to the world: 40
[see also: Industrial production growth rate country ranks ]

Labor force:
3.046 million (2017 est.)
country comparison to the world: 103
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 31%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18%
[see also: Labor force - by occupation - industry country ranks ]
services: 50% (2011 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
6.5% (2017 est.) 6.2% (2016 est.)
note: underemployment was 46.5% in 2008
country comparison to the world: 89
[see also: Unemployment rate country ranks ]

Population below poverty line:
29.6% (2015 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 47.1% (2014)

Distribution of family income - Gini index:
47.1 (2014) 45.8 (2009)
country comparison to the world: 26
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $3.8 billion
[see also: Budget - revenues country ranks ]
expenditures: $4.074 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
27.8% of GDP (2017 est.)
country comparison to the world: 98
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2% of GDP (2017 est.)
country comparison to the world: 83
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
46% of GDP (2017 est.) 45.2% of GDP (2016 est.)
note: official data; data cover general government debt, and includes debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as retirement, medical care, and unemployment, debt instruments for the social funds are not sold at public auctions; Nicaragua rebased its GDP figures in 2012, which reduced the figures for debt as a percentage of GDP
country comparison to the world: 115
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4% (2017 est.) 3.5% (2016 est.)
country comparison to the world: 155
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
3% (31 December 2010)
country comparison to the world: 108
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
12.2% (31 December 2017 est.) 11.44% (31 December 2016 est.)
country comparison to the world: 66
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.161 billion (31 December 2017 est.) $1.043 billion (31 December 2016 est.)
country comparison to the world: 153
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.602 billion (31 December 2017 est.) $1.445 billion (31 December 2016 est.)
country comparison to the world: 165
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$6.39 billion (31 December 2017 est.) $6.159 billion (31 December 2016 est.)
country comparison to the world: 122
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.568 billion (31 December 2016) $1.209 billion (31 December 2015) $995 million (31 December 2014)
country comparison to the world: 103
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.154 billion (2017 est.) -$1.133 billion (2016 est.)
country comparison to the world: 136
[see also: Current account balance country ranks ]

Exports:
$3.611 billion (2017 est.) $3.772 billion (2016 est.)
country comparison to the world: 120
[see also: Exports country ranks ]

Exports - commodities:
coffee, beef, gold, sugar, peanuts, shrimp and lobster, tobacco, cigars, automobile wiring harnesses, textiles, apparel

Exports - partners:
US 51.5%, Mexico 13.8%, El Salvador 6%, Venezuela 5.9% (2016)

Imports:
$6.426 billion (2017 est.) $6.384 billion (2016 est.)
country comparison to the world: 113
[see also: Imports country ranks ]

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

Imports - partners:
US 19.7%, China 12.9%, Mexico 9.7%, Costa Rica 7.8%, Guatemala 6.5%, Netherlands Antilles 5.7%, El Salvador 4.8% (2016)

Reserves of foreign exchange and gold:
$2.521 billion (31 December 2017 est.) $2.448 billion (31 December 2016 est.)
country comparison to the world: 111
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$11.36 billion (31 December 2017 est.) $10.87 billion (31 December 2016 est.)
country comparison to the world: 108
[see also: Debt - external country ranks ]

Exchange rates:
cordobas (NIO) per US dollar - 30.11 (2017 est.) 28.678 (2016 est.) 28.678 (2015 est.) 27.257 (2014 est.) 26.01 (2013 est.)


NOTE: 1) The information regarding Nicaragua on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2018 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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