| Economy - overview: | Nicaragua, one of the hemisphere's poorest countries, faces low per capita income, widespread underemployment, and a heavy external debt burden. Distribution of income is one of the most unequal on the globe. While the country has progressed toward macroeconomic stability in the past few years, GDP annual growth has been far too low to meet the country's needs, forcing the country to rely on international economic assistance to meet fiscal and debt financing obligations. Nicaragua qualified in early 2004 for some $4 billion in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative because of its earlier successful performance under its International Monetary Fund policy program and other efforts. In October 2005 Nicaragua ratified the US-Central America Free Trade Agreement (CAFTA), which will provide an opportunity for Nicaragua to attract investment, create jobs, and deepen economic development. High oil prices helped drive inflation to 10% in 2005, leading to a fall in real GDP growth to 3.5% from over 5% in 2004. |
| GDP - per capita | $2,800 (2005 est.) |
| GDP - real growth rate (%) | 3.5% (2005 est.) |
| Agriculture - products | coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products |
| GDP - composition by sector (%) | agriculture: 16.8%, industry: 27.6%, services: 55.6% (2005 est.) |
| Industries | food processing, chemicals, machinery and metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear, wood |
| Economic aid - recipient | $541.8 million (2003) |
| Debt - external | $4.054 billion (2005 est.) |
| Population below poverty line (%) | 50% (2001 est.) |
| Labor force - by occupation (%) | agriculture 30.5%, industry 17.3%, services 52.2% (2003 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
