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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