Spanish, Indigenous 0.3, Portuguese 0.1, other 0.1
Economic Overview
Key economic indicators for Nicaragua
GDP:
$51.088 billion
GDP per Capita:
$7,500
GDP Growth:
4.57%
Inflation:
8.39%
Unemployment:
4.8%
Public Debt:
33.3% of GDP
Credit Rating:
B- (2018)
Political System
Governance structure of Nicaragua
Government Type:
presidential republic
Head of State:
President Jose Daniel ORTEGA Saavedra (since 10 January 2007)
Head of Government:
President Jose Daniel ORTEGA Saavedra (since 10 January 2007)
Judiciary:
Supreme Court or Corte Suprema de Justicia (consists of 16 judges organized into administrative, civil, criminal, and constitutional chambers)
Administrative Divisions:
15 departments (departamentos, singular - departamento) and 2 autonomous regions* (regiones autonomistas, singular - region autonoma); Boaco, Carazo, Chinandega, Chontales, Costa Caribe Norte*, Costa Caribe Sur*, Esteli, Granada, Jinotega, Leon, Madriz, Managua, Masaya, Matagalpa, Nueva Segovia, Rio San Juan, Rivas
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
1627 New Hampshire Avenue NW, Washington, DC 20009
Major Alliances and Organizations
OAS
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
15.3% (2023 est.)
Industry
27.3% (2023 est.)
Services
46.3% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$8.25 billion
Imports:
$10.517 billion
Major Trading Partners
USA 51
Mexico 12
El Salvador 6
Canada 6
Switzerland 4
Economic Outlook
Nicaragua has a 4.57% GDP growth rate with 8.39% inflation. The economy is characterized by a strong agriculture sector.