Is Nicaragua a rich country?
Nicaragua, the poorest country in Central America and the second poorest in the Western Hemisphere, has widespread underemployment and poverty. GDP growth of 4.5% in 2017 was insufficient to make a significant difference. Textiles and agriculture combined account for nearly 50% of Nicaragua's exports. Beef, coffee, and gold are Nicaragua’s top three export commodities.
The Dominican Republic-Central America-United States Free Trade Agreement has been in effect since April 2006 and has expanded export opportunities for many Nicaraguan agricultural and manufactured goods.
In 2013, the government granted a 50-year concession with the option for an additional 50 years to a newly formed Chinese-run company to finance and build an inter-oceanic canal and related projects, at an estimated cost of $50 billion. The canal construction has not started.
What is the GDP of Nicaragua?
|GDP - Gross Domestic Product (PPP)||$29,690,000,000 (USD)|
|GDP - official exchange rate||$12,320,000,000 (USD)|
|GDP - real growth rate||4%|
|GDP Per Capita||$5,000.00 (USD)|
|GDP by Sector- agriculture||18.1%|
|GDP by Sector- Industry||22.9%|
|GDP by Sector- services||58.9%|
|GDP - composition, by end use||
household consumption: 82.7%
government consumption: 6.5%
investment in fixed capital: 28.8%
investment in inventories: 0%
exports of goods and services: 40.7%
imports of goods and services: -58.7%
|Population Below Poverty Line||48%|
|Labor Force By Occupation- agriculture||31%|
|Labor Force By Occupation- industry||18%|
|Labor Force By Occupation- services||50%|
|Unemployment - note||underemployment was 46.5% in 2008|
|Fiscal Year||calendar year|
|Annual Budget||$1,421,000,000 (USD)|
|Budget Surplus or Deficit - percent of GDP||-0.3%|
|Public Debt (% of GDP)||130%|
|Taxes and other revenues - percent of GDP||25.6%|
|Major Industries||food processing, chemicals, machinery and metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear, wood|
|Industrial Growth Rate||1.5%|
|Agriculture Products||coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products|
|Currency Code||gold cordoba (NIO)|
|Child Labor - % of children ages 5-14||14%|
|Child Labor - # of children ages 5-14||223,992|
|Child Labor - note||note: data represents children ages 5-17|
|Commercial Bank Prime Lending Rate||12%|