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Nicaragua Economy Profile 2014

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Economy - overviewNicaragua, 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.)
$26.74 billion (2012 est.)
$25.42 billion (2011 est.)
note: data are in 2013 US dollars
GDP (official exchange rate)$11.26 billion (2013 est.)
GDP - real growth rate4.6% (2013 est.)
5.2% (2012 est.)
5.4% (2011 est.)
GDP - per capita (PPP)$4,500 (2013 est.)
$4,400 (2012 est.)
$4,200 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by end usehousehold 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 sectoragriculture: 17.1%
industry: 25.5%
services: 57.5% (2013 est.)
Population below poverty line42.5% (2009)
Labor force3.039 million (2013 est.)
Labor force - by occupationagriculture: 31%
industry: 18%
services: 50% (2011 est.)
Unemployment rate7.2% (2013 est.)
5.9% (2012 est.)
note: underemployment was 46.5% in 2008
Unemployment, youth ages 15-24total: 8.6%
male: 8.1%
female: 9.7% (2006)
Household income or consumption by percentage sharelowest 10%: 1.4%
highest 10%: 41.8% (2005)
Distribution of family income - Gini index40.5 (2010)
60.3 (1998)
Budgetrevenues: $1.776 billion
expenditures: $1.656 billion (2013 est.)
Taxes and other revenues25.6% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-0.3% of GDP (2013 est.)
Public debt50.4% of GDP (2013 est.)
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
Inflation rate (consumer prices)5.7% (2013 est.)
6.6% (2012 est.)
Central bank discount rate3% (31 December 2010 est.)
Commercial bank prime lending rate12% (31 December 2013 est.)
NA% (31 December 2012 est.)
Stock of narrow money$961 million (31 December 2013 est.)
$897.5 million (31 December 2012 est.)
Stock of broad money$4.453 billion (31 December 2013 est.)
$4.136 billion (31 December 2012 est.)
Stock of domestic credit$4.268 billion (31 December 2013 est.)
$4.567 billion (31 December 2012 est.)
Market value of publicly traded shares$NA
Agriculture - productscoffee, bananas, sugarcane, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products; shrimp, lobsters, cotton
Industriesfood 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 rate3% (2013 est.)
Current Account Balance-$1.578 billion (2013 est.)
-$1.362 billion (2012 est.)
Exports$2.401 billion (2013 est.)
$4.581 billion (2012 est.)
Exports - commoditiescoffee, beef, gold, sugar, peanuts, shrimp and lobster, tobacco, cigars, automobile wiring harnesses, textiles, apparel, cotton
Exports - partnersUnited States 25.2%, Venezuela 16%, Canada 13.1%, El Salvador 8.9%, Costa Rica 5% (2013 est.)
Imports$5.65 billion (2013 est.)
$5.851 billion (2012 est.)
Imports - commoditiesconsumer goods, machinery and equipment, raw materials, petroleum products
Imports - partnersVenezuela 18.8% (2013 est.)
Reserves of foreign exchange and gold$1.993 billion (31 December 2013 est.)
$1.887 billion (31 December 2012 est.)
Debt - external$4.532 billion (31 December 2013 est.)
$4.289 billion (31 December 2012 est.)
Exchange ratescordobas (NIO) per US dollar -
24.77 (2013 est.)
23.547 (2012 est.)
21.356 (2010 est.)
20.34 (2009)
19.374 (2008)
Fiscal yearcalendar year

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of August 23, 2014