Nicaragua: Economy
|
Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Lower Middle Income |
|
Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Textiles and agriculture make up half of the country's exports. |
|
Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2018): United States, China, and Mexico |
| Top Industries Source: CIA World Factbook | Food Processing; Chemicals; Machinery and Metal Products; Knit and Woven Apparel |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $37,717,217,525 (2018) |
| GDP Growth Rate (annual %) | -3.951% (2018) |
| GDP Per Capita, PPP (current international) | $5,834 (2018) |
GDP Country Rank 122/196 (2018)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 5.376% (2019) |
| External debt stocks, total (DOD, current US$) | $11,617,614,885 (2018) |
| Total tax rate (% of commercial profits) | 60.6% (2019) |
| Real Interest Rate (5 year average %) | 7.05% (2018) |
| Manufacturing, value added (% of GDP) | 14.076% (2018) |
| Current Account Balance (BoP, current US$) | $83,000,000 (2018) |
Labor and Employment [1]
| Labor Force, Total | 3,048,653 (2019) |
| Employment in Agriculture (% of total employment) | 30.652% (2019) |
| Employment in Industry (% of total employment) | 15.933% (2019) |
| Employment in Services (% of total employment) | 53.415% (2019) |
| Unemployment Rate | 6.837% (2019) |
Trade [1]
| Imports of goods and services (current US$) | $6,724,040,668 (2018) |
| Exports of goods and services (current US$) | $5,506,541,333 (2018) |
| Total Merchandise Trade (% of GDP) | 89.124% (2018) |
| FDI, net inflows (BoP, current US$) | $359,200,000 (2018) |
| Commercial Service Exports (current US$) | $1,237,900,000 (2018) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Nicaragua’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.