Country Summary: Nicaragua (Republic of Nicaragua)
Country Name: Nicaragua (Republic of Nicaragua)
Capital: Managua
Government Type: presidential republic
Background: 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.
Continent: Central America
Population: 6,359,689 (2023 est.)
Ethnic Groups: Mestizo (mixed Indigenous and White) 69%, White 17%, Black 9%, Indigenous 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.)
Religions: Roman Catholic 50%, Evangelical 33.2%, other 2.9%, none 0.7%, unspecified 13.2% (2017 est.)
Economic Overview: until 2018, nearly 20 years of sustained GDP growth
Currency: Nicaraguan Cordoba (NIO)
Reserves of Foreign Exchange & Gold: $4.404 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $40.456 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 3.75% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $5,800 (2022 est.) note: data in 2017 dollars
Exports:
$7.87 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 122
Export Commodities: clothing and apparel, gold, insulated wiring, coffee, beef, cigars (2021)
Export Partners: United States 60%, El Salvador 5%, Mexico 5% (2019)
Imports:
$10.213 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 120
Import Commodities: refined petroleum, clothing and apparel, crude petroleum, packaged medicines, insulated wiring (2019)
Import Partners: United States 27%, Mexico 12%, China 11%, Guatemala 9%, Costa Rica 7%, El Salvador 6%, Honduras 6% (2019)
Natural Resources: gold, silver, copper, tungsten, lead, zinc, timber, fish
Agricultural Products: sugar cane, milk, rice, maize, plantains, groundnuts, cassava, beans, coffee, poultry
Industries: food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining
Industrial Production Growth Rate:
1.39% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 139
Labor Force: 3.189 million (2022 est.)
Unemployment Rate: 4.99% (2022 est.) note: % of labor force seeking employment
Natural Hazards: destructive earthquakes; volcanoes; landslides; extremely susceptible to hurricanes
Volcanism: significant volcanic activity; Cerro Negro (728 m), which last erupted in 1999, is one of Nicaragua's most active volcanoes; its lava flows and ash have been known to cause significant damage to farmland and buildings; other historically active volcanoes include Concepcion, Cosiguina, Las Pilas, Masaya, Momotombo, San Cristobal, and Telica
Geography:
Total: 130,370 sq km
Land: 119,990 sq km
Water: 10,380 sq km
(Country Summary, The World Factbook, CIA.gov)
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