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.
4.9% (2017 est.)
4.7% (2016 est.)
4.8% (2015 est.)
5.3% (2019 est.)
4.9% (2018 est.)
3.8% (2017 est.)
Fitch rating: B- (2018)
Moody's rating: B3 (2020)
Standard & Poors rating: B- (2018)
$35.392 billion (2019 est.)
$36.82 billion (2018 est.)
$38.334 billion (2017 est.)
note: data are in 2017 dollars
$12.57 billion (2019 est.)
$5,407 (2019 est.)
$5,695 (2018 est.)
$6,004 (2017 est.)
note: data are in 2017 dollars
22.6% of GDP (2019 est.)
21.9% of GDP (2018 est.)
22.4% of GDP (2017 est.)
agriculture: 15.5% (2017 est.)
industry: 24.4% (2017 est.)
services: 60% (2017 est.)
household consumption: 69.9% (2017 est.)
government consumption: 15.3% (2017 est.)
investment in fixed capital: 28.1% (2017 est.)
investment in inventories: 1.7% (2017 est.)
exports of goods and services: 41.2% (2017 est.)
imports of goods and services: -55.4% (2017 est.)
Overall score: 54.4 (2020)
Starting a Business score: 79.6 (2020)
Trading score: 77 (2020)
Enforcement score: 58.6 (2020)
sugar cane, milk, rice, maize, plantains, groundnuts, cassava, beans, coffee, poultry
food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining
3.5% (2017 est.)
3.046 million (2017 est.)
agriculture: 31%
industry: 18%
services: 50% (2011 est.)
6.4% (2017 est.)
6.2% (2016 est.)
note: underemployment was 46.5% in 2008
24.9% (2016 est.)
46.2 (2014 est.)
45.8 (2009)
lowest 10%: 1.8%
highest 10%: 47.1% (2014)
revenues: 3.871 billion (2017 est.)
expenditures: 4.15 billion (2017 est.)
28% (of GDP) (2017 est.)
-2% (of GDP) (2017 est.)
33.3% of GDP (2017 est.)
31.2% of GDP (2016 est.)
note: official data; data cover general government debt and include debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities, as well as intragovernmental debt; intragovernmental 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
calendar year
-$694 million (2017 est.)
-$989 million (2016 est.)
$3.819 billion (2017 est.)
$3.772 billion (2016 est.)
United States 60%, El Salvador 5%, Mexico 5% (2019)
clothing and apparel, gold, insulated wiring, coffee, beef (2019)
$6.613 billion (2017 est.)
$6.384 billion (2016 est.)
United States 27%, Mexico 12%, China 11%, Guatemala 9%, Costa Rica 7%, El Salvador 6%, Honduras 6% (2019)
refined petroleum, clothing and apparel, crude petroleum, packaged medicines, insulated wiring (2019)
$2.758 billion (31 December 2017 est.)
$2.448 billion (31 December 2016 est.)
$11.674 billion (2019 est.)
$11.771 billion (2018 est.)
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: The information regarding Nicaragua on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Nicaragua 2021 information contained here. All suggestions for corrections of any errors about Nicaragua 2021 should be addressed to the CIA or the source cited on each page.
This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.