header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Nicaragua:
Economy

Flag of Nicaragua
Click to enlarge

Nicaragua Page


Economy - overview
Definition
Nicaragua has widespread underemployment, one of the highest degrees of income inequality in the world, and the third lowest per capita income in the Western Hemisphere. While the country has progressed toward macroeconomic stability in the past few years, annual GDP growth has been far too low to meet the country's needs, forcing the country to rely on international economic assistance to meet fiscal and debt financing obligations. In early 2004, Nicaragua secured some $4.5 billion in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative, and in October 2007, the IMF approved a new poverty reduction and growth facility (PRGF) program that should create fiscal space for social spending and investment. The continuity of a relationship with the IMF reinforces donor confidence, despite private sector concerns surrounding ORTEGA, which has dampened investment. 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. Energy shortages fueled by high oil prices, however, are a serious bottleneck to growth.
GDP (purchasing power parity)
Definition - World rank and map
$15.84 billion (2007 est.)
GDP (official exchange rate)
Definition
$5.723 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
3.8% (2007 est.)
GDP - per capita
Definition - World rank and map
$2,600 (2007 est.)
GDP - composition by sector
Definition
agriculture: 17.1%
industry: 25.9%
services: 57% (2007 est.)
Labor force
Definition
2.262 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 29%
industry: 19%
services: 52% (2006 est.)
Unemployment rate
Definition - World rank and map
3.6% plus underemployment of 46.5% (2007 est.)
Population below poverty line
Definition
48% (2005)
Household income or consumption by percentage share
Definition
lowest 10%: 2.2%
highest 10%: 33.8% (2001)
Distribution of family income - Gini index
Definition - World rank and map
43.1 (2001)
Inflation rate (consumer prices)
Definition - World rank and map
11.1% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
28.9% of GDP (2007 est.)
Budget
Definition
revenues: $1.115 billion
expenditures: $1.291 billion (2007 est.)
Public debt
Definition - World rank and map
63% of GDP (2007 est.)
Agriculture - products
Definition
coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products; shrimp, lobsters
Industries
Definition
food processing, chemicals, machinery and metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear, wood
Industrial production growth rate
Definition - World rank and map
3% (2007 est.)
Electricity - production
Definition - World rank and map
2.778 billion kWh (2006)
Electricity - consumption
Definition - World rank and map
2.929 billion kWh (2006)
Electricity - consumption per capita
Definition - World rank and map
506.3 kWh (2006)
Electricity - exports
Definition
8 million kWh (2005)
Electricity - imports
Definition
69.34 million kWh (2006)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
28,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
4.8 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
1,397 bbl/day (2004)
Oil - imports
Definition - World rank and map
15,560 bbl/day (2005 est.)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$989 million (2007 est.)
Exports
Definition - World rank and map
$2.235 billion f.o.b.; note - includes free trade zones (2007 est.)
Exports - commodities
Definition
coffee, beef, shrimp and lobster, tobacco, sugar, gold, peanuts
Exports - partners
Definition
US 60.7%, El Salvador 7.6%, Honduras 4.2% (2006)
Imports
Definition - World rank and map
$3.935 billion f.o.b. (2007 est.)
Imports - commodities
Definition
consumer goods, machinery and equipment, raw materials, petroleum products
Imports - partners
Definition
US 19.4%, Mexico 14.2%, Venezuela 9.3%, Costa Rica 7%, Guatemala 5.5%, China 4.7% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$1.103 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$3.335 billion (31 December 2007 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$471 million (2006 est.)
Currency (code)
Definition
gold cordoba (NIO)
Exchange rates
Definition
gold cordobas per US dollar - 18.457 (2007), 17.582 (2006), 16.733 (2005), 15.937 (2004), 15.105 (2003)
Fiscal year
Definition
calendar year


Google
 
Web sitesatlas.com