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Nicaragua Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Nicaragua Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 23,

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 substantially in 2011. The economy grew at a rate of about 4% in 2011.

GDP (purchasing power parity):
$18.77 billion (2011 est.)
country comparison to the world: 129

$18.05 billion (2010 est.)
$17.24 billion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$7.1 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4% (2011 est.)
country comparison to the world: 98

4.5% (2010 est.)
-1.5% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,200 (2011 est.)
country comparison to the world: 167

$3,100 (2010 est.)
$3,000 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 19%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.1%
[see also: GDP - composition by sector - industry country ranks ]
services: 55% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
2.885 million (2011 est.)
country comparison to the world: 103
[see also: Labor force country ranks ]

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

Unemployment rate:
7.3% (2011 est.)
country comparison to the world: 81

7.8% (2010 est.)
note: underemployment was 46.5% in 2008
[see also: Unemployment rate country ranks ]

Population below poverty line:
48% (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)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
43.1 (2001)
country comparison to the world: 48

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

Investment (gross fixed):
28.2% of GDP (2011 est.)
country comparison to the world: 41
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $2.251 billion
[see also: Budget revenues country ranks ]
expenditures: $2.308 billion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
31.7% of GDP (2011 est.)
country comparison to the world: 79
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.8% of GDP (2011 est.)
country comparison to the world: 51
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
63.6% of GDP (2011 est.)
country comparison to the world: 37

78% of GDP (2010 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
8.4% (2011 est.)
country comparison to the world: 174

5.5% (2010 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 2011 est.)
country comparison to the world: 64

13.32% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.406 billion (31 December 2011 est.)
country comparison to the world: 136

$1.229 billion (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.233 billion (31 December 2011 est.)
country comparison to the world: 137

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

Stock of domestic credit:
$4.027 billion (31 December 2011 est.)
country comparison to the world: 118

$4.003 billion (31 December 2010 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: 136
[see also: Industrial production growth rate country ranks ]

Electricity - production:
3.419 billion kWh (2008 est.)
country comparison to the world: 123
[see also: Electricity - production country ranks ]

Electricity - consumption:
2.646 billion kWh (2008 est.)
country comparison to the world: 131
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
2 million kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
377.4 bbl/day (2010 est.)
country comparison to the world: 113
[see also: Oil - production country ranks ]

Oil - consumption:
30,000 bbl/day (2010 est.)
country comparison to the world: 116
[see also: Oil - consumption country ranks ]

Oil - exports:
742.1 bbl/day (2009 est.)
country comparison to the world: 120
[see also: Oil - exports country ranks ]

Oil - imports:
30,290 bbl/day (2009 est.)
country comparison to the world: 102
[see also: Oil - imports country ranks ]

Natural gas - production:
0 cu m (2009 est.)
country comparison to the world: 111
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2009 est.)
country comparison to the world: 118
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 157
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2009 est.)
country comparison to the world: 109
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2011 est.)
country comparison to the world: 178
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$1.309 billion (2011 est.)
country comparison to the world: 141

-$963.4 million (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$4.071 billion (2011 est.)
country comparison to the world: 121

$3.157 billion (2010 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 58.2%, El Salvador 7.7%, Canada 6.4%, Venezuela 4.2% (2010)

Imports:
$6.131 billion (2011 est.)
country comparison to the world: 112

$4.792 billion (2010 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 23.4%, Venezuela 16.7%, Costa Rica 8.8%, China 7.2%, Mexico 6.7%, Guatemala 6%, El Salvador 4.6% (2010)

Reserves of foreign exchange and gold:
$1.85 billion (31 December 2011 est.)
country comparison to the world: 124

$1.799 billion (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.343 billion (31 December 2011 est.)
country comparison to the world: 111

$4.739 billion (31 December 2010 est.)
[see also: Debt - external country ranks ]

Exchange rates:
cordobas (NIO) per US dollar -

22.45 (2011 est.)
21.36 (2010 est.)
20.34 (2009)
19.374 (2008)
18.457 (2007)


NOTE: 1) The information regarding Nicaragua on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2012 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They 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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