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Nicaragua Economy 2013
http://www.theodora.com/wfbcurrent/nicaragua/nicaragua_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 5, 2013

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. In early 2004, Nicaragua secured some $4.5 billion in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative. Managua still struggles with a high public debt burden, however, it succeeded in reducing that burden in 2011. The economy grew at a rate of about 4% in 2012.

GDP (purchasing power parity):
$19.89 billion (2012 est.)
country comparison to the world: 131

$19.18 billion (2011 est.)
$18.33 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$7.828 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.7% (2012 est.)
country comparison to the world: 92

4.7% (2011 est.)
4.5% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,300 (2012 est.)
country comparison to the world: 170

$3,300 (2011 est.)
$3,200 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 17.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 25.8%
services: 56.7% (2012 est.)

Labor force:
2.961 million (2012 est.)
country comparison to the world: 104
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 28%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 19%
services: 53% (2010 est.)

Unemployment rate:
7.4% (2012 est.)
country comparison to the world: 83

7.3% (2011 est.)
note: underemployment was 46.5% in 2008
[see also: Unemployment rate country ranks ]

Population below poverty line:
46.2% (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)

Distribution of family income - Gini index:
40.5 (2010)
country comparison to the world: 57

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

Investment (gross fixed):
34.1% of GDP (2012 est.)
country comparison to the world: 11
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $2.619 billion
[see also: Budget revenues country ranks ]
expenditures: $2.56 billion (2012 est.)

Taxes and other revenues:
33.5% of GDP (2012 est.)
country comparison to the world: 80
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.7% of GDP (2012 est.)
country comparison to the world: 33
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
70.5% of GDP (2011 est.)
country comparison to the world: 38

78.5% of GDP (2010 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
7.4% (2012 est.)
country comparison to the world: 177

8.1% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
3% (31 December 2010 est.)

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

Commercial bank prime lending rate:
11.5% (31 December 2012 est.)
country comparison to the world: 84

10.54% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.287 billion (31 December 2012 est.)
country comparison to the world: 141

$1.125 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.136 billion (31 December 2011 est.)
country comparison to the world: 142

$2.924 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.138 billion (31 December 2012 est.)
country comparison to the world: 119

$4.195 billion (31 December 2011 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% (2010 est.)
country comparison to the world: 133
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$1.476 billion (2012 est.)
country comparison to the world: 127

-$1.259 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$4.16 billion (2012 est.)
country comparison to the world: 123

$3.941 billion (2011 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 60.1%, Canada 8.3%, El Salvador 4.6% (2011)

Imports:
$6.519 billion (2012 est.)
country comparison to the world: 115

$5.996 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 21.3%, Venezuela 14%, Costa Rica 8.7%, China 8.5%, Mexico 8.2%, Guatemala 8%, El Salvador 5.4% (2011)

Reserves of foreign exchange and gold:
$1.9 billion (31 December 2012 est.)
country comparison to the world: 123

$1.892 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.228 billion (31 December 2012 est.)
country comparison to the world: 114

$5.012 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
cordobas (NIO) per US dollar -

23.58 (2012 est.)
22.424 (2011 est.)
21.356 (2010 est.)
20.34 (2009)
19.374 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Nicaragua on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2013 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2013 should be addressed to the CIA.


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