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Nicaragua
| Economy Overview |
| Nicaragua, one of the hemisphere's poorest countries, faces low per capita income, massive unemployment, and huge external debt. Distribution of income is one of the most unequal on the globe. While the country has made progress toward macroeconomic stability over the past few years, GDP annual growth has been far too low to meet the country's needs. As a result of successful performance under its International Monetary Fund policy program and other efforts, Nicaragua qualified in early 2004 for some $4 billion in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative. Even after this reduction, however, the government continues to bear a significant foreign and domestic debt burden. If ratified, the US-Central America Free Trade Agreement (CAFTA) will provide an opportunity for Nicaragua to attract investment, create jobs, and deepen economic development. While President BOLANOS enjoys the support of the international financial bodies, his internal political base is meager. |
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| Economy Statistics |
| Exports: |
$750 million f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
coffee, beef, shrimp and lobster, tobacco, sugar, gold, peanuts [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
US 64.8%, El Salvador 7%, Mexico 3.6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$2.02 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
consumer goods, machinery and equipment, raw materials, petroleum products [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
US 22.6%, Costa Rica 8.5%, Venezuela 8.4%, Guatemala 6.8%, Mexico 5.8%, El Salvador 4.9%, South Korea 4.5% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| American Chamber of Commerce of Nicaragua |
| Address: |
De Bancentro Carretera a Masaya 1 cuadra abajo, Centro Finarca |
| Phone: |
(505) 267-3099 |
| Fax: |
(505) 267-3098 |
| Website: |
http://www.amchamnic.org.ni/ |
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