Nicaragua



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Nicaragua Economy 2002


Economy - overview: Nicaragua, one of the hemisphere's poorest countries, faces low per capita income, flagging socio-economic indicators, and huge external debt. Distribution of income is extremely unequal. While the country has made progress toward macroeconomic 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 move up in 2002 because of increased private investment and recovery in the global economy.
GDP: purchasing power parity - $12.3 billion (2001 est.)
GDP - real growth rate: 2.5% (2001 est.)
GDP - per capita: purchasing power parity - $2,500 (2001 est.)
GDP - composition by sector: agriculture: 33% industry: 23% services: 44% (2000) (2000)
Population below poverty line: 50% (2001 est.)
Household income or consumption by percentage share: lowest 10%: 1% highest 10%: 49% (1998) (1998)
Distribution of family income - Gini index: 60 (1998)
Inflation rate (consumer prices): 7.4% (2001 est.)
Labor force: 1.7 million (1999) (1999)
Labor force - by occupation: services 43%, agriculture 42%, industry 15% (1999 est.)
Unemployment rate: 23% plus considerable underemployment (2001 est.)
Budget: revenues: $726 million expenditures: $908 million, including capital expenditures of $NA (2000 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: 2.233 billion kWh (2000)
Electricity - production by source: fossil fuel: 82% hydro: 9% other: 9% (2000) nuclear: 0%
Electricity - consumption: 2.176 billion kWh (2000)
Electricity - exports: 1 million kWh (2000)
Electricity - imports: 100 million kWh (2000)
Agriculture - products: coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products
Exports: $609.5 million f.o.b. (2001 est.)
Exports - commodities: coffee, shrimp and lobster, cotton, tobacco, beef, sugar, bananas; gold
Exports - partners: US 57.7%, Germany 5.3%, Canada 4.2%, Costa Rica 3.3%, Honduras 3% (2000)
Imports: $1.6 billion f.o.b. (2001 est.)
Imports - commodities: machinery and equipment, raw materials, petroleum products, consumer goods
Imports - partners: US 23.9%, Costa Rica 11.4%, Venezuela 9.9%, Guatemala 7.9%, Mexico 5.9% (2000)
Debt - external: $6.1 billion (2001 est.)
Economic aid - recipient: NA
Currency: gold cordoba (NIO)
Currency code: NIO
Exchange rates: gold cordobas per US dollar - 13.88 (January 2002), 13.37 (2001), 12.69 (2000), 11.81 (1999), 10.58 (1998), 9.45 (1997)
Fiscal year: calendar year

NOTE: The economy information regarding Nicaragua on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Nicaragua Economy 2002 information contained here. All suggestions for corrections of any errors about Nicaragua Economy 2002 should be addressed to the CIA.