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Nicaragua Economy 2015
http://www.theodora.com/wfbcurrent/nicaragua/nicaragua_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on June 20, 2014

Economy - overview:
Nicaragua, the poorest country in Central America and the second poorest in the Western Hemisphere, has widespread underemployment and poverty. The Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) has been in effect since April 2006 and has expanded export opportunities for many agricultural and manufactured goods. Textiles and agriculture combined account for nearly 50% of Nicaragua's exports. In 2013, the government granted a 100-year concession to a newly formed Chinese-run company to finance and build an inter-oceanic canal and related projects, at an estimated cost of $40 billion. The economy grew 4.6% in 2013, despite a 33% decline in coffee export revenues due to a coffee rust fungus.

GDP (purchasing power parity):
$27.97 billion (2013 est.)
country comparison to the world: 119

$26.74 billion (2012 est.)
$25.42 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$11.26 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.6% (2013 est.)
country comparison to the world: 66

5.2% (2012 est.)
5.4% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,500 (2013 est.)
country comparison to the world: 166

$4,400 (2012 est.)
$4,200 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 86.1%
government consumption: 10.3%
investment in fixed capital: 34.4%
exports of goods and services: 38.6%
imports of goods and services: -69.5%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 17.1%
industry: 25.5%
services: 57.5% (2013 est.)

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

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:
3% (2013 est.)
country comparison to the world: 107
[see also: Industrial production growth rate country ranks ]

Labor force:
3.039 million (2013 est.)
country comparison to the world: 103
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 31%
industry: 18%
services: 50% (2011 est.)

Unemployment rate:
7.2% (2013 est.)
country comparison to the world: 77

5.9% (2012 est.)
note: underemployment was 46.5% in 2008
[see also: Unemployment rate country ranks ]

Population below poverty line:
42.5% (2009)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.4%
highest 10%: 41.8% (2005)

Distribution of family income - Gini index:
40.5 (2010)
country comparison to the world: 56

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

Budget:
revenues: $1.776 billion
expenditures: $1.656 billion (2013 est.)

Taxes and other revenues:
25.6% of GDP (2013 est.)
country comparison to the world: 120
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.3% of GDP (2013 est.)
country comparison to the world: 51
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
50.4% of GDP (2013 est.)
country comparison to the world: 66

51.5% of GDP (2012 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
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5.7% (2013 est.)
country comparison to the world: 166

6.6% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
3% (31 December 2010 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
12% (31 December 2013 est.)

NA% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$961 million (31 December 2013 est.)
country comparison to the world: 151

$897.5 million (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$4.453 billion (31 December 2013 est.)
country comparison to the world: 132

$4.136 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.268 billion (31 December 2013 est.)
country comparison to the world: 118

$4.567 billion (31 December 2012 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 ]

Current account balance:
-$1.578 billion (2013 est.)
country comparison to the world: 133

-$1.362 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$2.401 billion (2013 est.)
country comparison to the world: 138

$4.581 billion (2012 est.)
[see also: Exports country ranks ]

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

Exports - partners:
United States 25.2%, Venezuela 16%, Canada 13.1%, El Salvador 8.9%, Costa Rica 5% (2013 est.)

Imports:
$5.65 billion (2013 est.)
country comparison to the world: 122

$5.851 billion (2012 est.)
[see also: Imports country ranks ]

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

Imports - partners:
Venezuela 18.8% (2013 est.)

Reserves of foreign exchange and gold:
$1.993 billion (31 December 2013 est.)
country comparison to the world: 122

$1.887 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$4.532 billion (31 December 2013 est.)
country comparison to the world: 123

$4.289 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Exchange rates:
cordobas (NIO) per US dollar -

24.77 (2013 est.)
23.547 (2012 est.)
21.356 (2010 est.)
20.34 (2009)
19.374 (2008)


NOTE: The information regarding Nicaragua on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2015 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2015 should be addressed to the CIA.



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