Nicaragua

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Nicaragua - In Short.

Overview of Nicaragua

The Pacific coast of Nicaragua was settled as a Spanish colony from Panama in the early 16th century. Independence from Spain was declared in 1821 and the country became an independent republic in 1838. Britain occupied the Caribbean Coast in the first half of the 19th century, but gradually ceded control of the region in subsequent decades. Violent opposition to governmental manipulation and corruption spread to all classes by 1978 and resulted in a short-lived civil war that brought a civic-military coalition, spearheaded by the Marxist Sandinista guerrillas led by Daniel ORTEGA Saavedra to power in 1979. Nicaraguan aid to leftist rebels in El Salvador prompted the US to sponsor anti-Sandinista contra guerrillas through much of the 1980s. After losing free and fair elections in 1990, 1996, and 2001, former Sandinista President Daniel ORTEGA was elected president in 2006, 2011, 2016, and most recently in 2021. Municipal, regional, and national-level elections since 2008 have been marred by widespread irregularities. Democratic institutions have weakened under the ORTEGA administration as the president has garnered full control over all branches of government, especially after cracking down on a nationwide anti-government protest movement in 2018. In the lead-up to the 2021 presidential election, most of the prominent opposition candidates were either arrested or forced into exile leaving only five lesser-known candidates of mostly small parties allied to ORTEGA’s Sandinistas to run against him.
Value
Country Full Name
Nicaragua
Country Code
NIC
Region
Latin America & Caribbean
Income Group
Lower middle income
Currency Unit
GDP
12621505383
Population
6624554
Land Area
120340
Net National Income Per Capita
1606.910378
GDP per Capita (PPP)
5569.721552

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Nicaragua - Economic

Economy of Nicaragua

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.

Unemployment Rate

Inflation Rate

Nicaragua - GDP Composition

GDP Composiiton & Value Added of Nicaragua

Last Updated: Jan, 2021, Updated For 2020.

Nicaragua - GDP, Value Added

Demographics of Nicaragua

the overwhelming majority of the population resides in the western half of the country, with much of the urban growth centered in the capital city of Managua; coastal areas also show large population clusters
Geographic Location

Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Costa Rica and Honduras

Races

Mestizo (mixed Amerindian and White) 69%, White 17%, Black 9%, Amerindian 5%

Languages

Spanish (official) 95.3%, Miskito 2.2%, Mestizo of the Caribbean coast 2%, other 0.5%; note - English and indigenous languages found on the Caribbean coast (2005 est.)major-language

Religion

Roman Catholic 50%, Evangelical 33.2%, other 2.9%, none 0.7%, unspecified 13.2% (2017 est.)

Dependency & Expectancy of Nicaragua

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Nicaragua - Social Media Briefing

Nicaragua - Social Media & Social Commerce

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Politics & Policies of Nicaragua

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

BCIE, CACM, CD, CELAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), LAES, LAIA (observer), MIGA, NAM, OAS, OPANAL, OPCW, PCA, Petrocaribe, SICA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO

Import of Nicaragua

Export of Nicaragua

Import Destination

Export Destination