Short facts about the economy in Nicaragua
| Economy -
overview: |
Nicaragua, one of the hemisphere's
poorest countries, faces low per capita income, flagging socio-economic
indicators, and huge external debt. While the country has made progress toward
macro-economic stabilization over the past few years, a banking crisis and
scandal has shaken the economy. Managua will continue to be dependent on
international aid and debt relief under the Heavily Indebted Poor Countries
(HIPC) initiative. Donors have made aid conditional on improving governability,
the openness of government financial operation, poverty alleviation, and human
rights. Nicaragua met the conditions for additional debt service relief in
December 2000. Growth should remain moderate to high in
2001. |
| GDP: |
purchasing power parity - $13.1 billion
(2000 est.) |
| GDP - real
growth rate: |
5% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $2,700 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 31.6%
industry: 22.8%
services: 45.6%
(1999) |
| Population
below poverty line: |
50% (2000
est.) |
| Household
income or consumption by percentage share: |
lowest 10%: 1.6%
highest 10%: 39.8%
(1993) |
| Inflation
rate (consumer prices): |
11% (2000
est.) |
| Labor
force: |
1.7 million
(1999) |
| Labor force
- by occupation: |
services 43%, agriculture 42%, industry
15% (1999 est.) |
| Unemployment
rate: |
20% plus considerable underemployment
(1999 est.) |
| Budget: |
revenues: $734 million
expenditures: $836 million, including capital
expenditures of $NA (1999 est.) |
| Industries: |
food processing, chemicals, machinery
and metal products, textiles, clothing, petroleum refining and distribution,
beverages, footwear, wood |
| Industrial
production growth rate: |
4.4% (2000
est.) |
| Electricity
- production: |
2.349 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 67.26%
hydro: 17.71%
nuclear:
0%
other: 15.03% (1999) |
| Electricity
- consumption: |
2.265 billion kWh
(1999) |
| Electricity
- exports: |
20 million kWh
(1999) |
| Electricity
- imports: |
100 million kWh
(1999) |
| Agriculture
- products: |
coffee, bananas, sugarcane, cotton,
rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy
products |
| Exports: |
$631 million (f.o.b., 2000
est.) |
| Exports -
commodities: |
coffee, shrimp and lobster, cotton,
tobacco, beef, sugar, bananas; gold |
| Exports -
partners: |
US 37.7%, El Salvador 12.5%, Germany
9.8%, Costa Rica 5.1%, Spain 2.5%, France 2.1%
(1999) |
| Imports: |
$1.6 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
machinery and equipment, raw materials,
petroleum products, consumer goods |
| Imports -
partners: |
US 34.5%, Costa Rica 11.4%, Guatemala
7.3%, Panama 6.9%, Venezuela 5.9%, El Salvador 5.5%
(1999) |
| Debt -
external: |
$6.4 billion (2000
est.) |
| Economic aid
- recipient: |
NA |
| Currency: |
gold cordoba
(NIO) |
| Exchange
rates: |
gold cordobas per US dollar - 12.96
(November 2000), 12.69 (2000 est.), 11.81 (1999), 10.58 (1998), 9.45 (1997),
8.44 (1996) |
| Fiscal
year: |
calendar year | Source: World Factbook |
