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Nicaragua Economy 2014
http://www.theodora.com/wfbcurrent/nicaragua/nicaragua_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 28, 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. The ORTEGA administration'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 relied on an IMF external credit facility to meet internal- and external-debt financing obligations. The most recent IMF program ended in 2011 and Nicaragua is currently in negotiations for a new program. Nicaragua depends heavily on foreign development assistance, however, donors have curtailed this funding in response to November 2008 and subsequent electoral fraud. Nicaragua 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):
$26.38 billion (2012 est.)
country comparison to the world: 117

$25.07 billion (2011 est.)
$23.78 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$10.36 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.2% (2012 est.)
country comparison to the world: 59

5.4% (2011 est.)
3.6% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,400 (2012 est.)
country comparison to the world: 164

$4,200 (2011 est.)
$4,000 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 86.3%
government consumption: 10.3%
investment in fixed capital: 32.8%
exports of goods and services: 39.8%
imports of goods and services: -69.2%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 17.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 25.9%
services: 56.8% (2012 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:
6% (2012 est.)
country comparison to the world: 43
[see also: Industrial production growth rate country ranks ]

Labor force:
2.961 million (2012 est.)
country comparison to the world: 105
[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: 81

7.3% (2011 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%
[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 ]

Budget:
revenues: $2.728 billion
[see also: Budget revenues country ranks ]
expenditures: $2.752 billion (2012 est.)

Taxes and other revenues:
26.3% of GDP (2012 est.)
country comparison to the world: 117
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.2% of GDP (2012 est.)
country comparison to the world: 51
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
58.6% of GDP (2012 est.)
country comparison to the world: 49

61.4% of GDP (2011 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):
7.2% (2012 est.)
country comparison to the world: 180

8.1% (2011 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:
11.99% (31 December 2012 est.)
country comparison to the world: 83

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

Stock of narrow money:
$788.4 million (31 December 2012 est.)
country comparison to the world: 152

$709.7 million (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:
$4.567 billion (31 December 2012 est.)
country comparison to the world: 115

$4.197 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 ]

Current account balance:
$-1.35 billion (2012 est.)
country comparison to the world: 124

$-1.268 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$4.157 billion (2012 est.)
country comparison to the world: 119

$3.655 billion (2011 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:
US 55.6%, Canada 8.6%, Venezuela 7.3%, El Salvador 4.2% (2012)

Imports:
$6.45 billion (2012 est.)
country comparison to the world: 115

$5.836 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 19%, Venezuela 14.8%, Mexico 12.2%, Costa Rica 8.5%, Guatemala 8%, China 7.9%, El Salvador 4.7% (2012)

Reserves of foreign exchange and gold:
$1.887 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:
$7.79 billion (31 December 2012 est.)
country comparison to the world: 105

$7.309 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
cordobas (NIO) per US dollar -

23.547 (2012 est.)
22.424 (2011 est.)
21.356 (2010 est.)
20.34 (2009)
19.374 (2008)


NOTE: The information regarding Nicaragua on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2014 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2014 should be addressed to the CIA.



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