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Nicaragua, the poorest country in Central America, has widespread underemployment and poverty. GDP fell by almost 3% in 2009, due to decreased export demand in the US and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth - remittances are equivalent to almost 15% of GDP. The US-Central America Free Trade Agreement (CAFTA) has been in effect since April 2006 and has expanded export opportunities for many agricultural and manufactured goods. Textiles and apparel account for nearly 60% of Nicaragua's exports, but increases in the minimum wage during the ORTEGA a...  More..

Economy of Nicaragua
SOURCE: CIA - The World Factbook
Currency Cordoba
Fiscal Year 01 January - 31 December
GDP (PPP) $16.53 billion (2009 est.)
GDP (per capita) $2,800 (2009 est.)
Exports $2.344 billion (2009 est.)
Imports $3.968 billion (2009 est.)
Main Industries Food Processing, Chemicals, Machinery and Metal Products, Textiles, Clothing, Petroleum Refining and Distribution, Beverages, Footwear, Wood
Exports - Commodities Coffee, Beef, Shrimp and Lobster, Tobacco, Sugar, Gold, Peanuts
Imports - Commodities Consumer Goods, Machinery and Equipment, Raw Materials, Petroleum Products
Exports Partners US 32.3%, El Salvador 14.6%, Costa Rica 6.9%, Honduras 6.8%, Mexico 5.3%, Canada 5%, Guatemala 5% (2008)
Imports Partners US 21%, Venezuela 14.3%, Mexico 8.4%, Costa Rica 8%, China 7.8%, Guatemala 6.1%, El Salvador 5.2% (2008)

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