Names: conventional long form: Republic of Nicaragua conventional short form: Nicaragua local long form: Republica de Nicaragua local short form: Nicaragua
Capital City: Managua
Population: 5,570,129 (July 2006 est.)
GDP Per Capita: $3,000 (2006 est.)
Currency: gold cordoba (NIO)
Languages: Spanish 97.5% (official), Miskito 1.7%, other 0.8% (1995 census) note: English and indigenous languages on Atlantic coast
Total Area: total: 129,494 sq km land: 120,254 sq km water: 9,240 sq km slightly smaller than the state of New York
Region: North America
Industries: food processing, chemicals, machinery and metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear, wood
Agriculture: coffee, bananas, sugarcane, cotton, rice, corn, tobacco, sesame, soya, beans; beef, veal, pork, poultry, dairy products; shrimp, lobsters
Resources: gold, silver, copper, tungsten, lead, zinc, timber, fish
Labor Force:
2.261 million (2006 est.)
agriculture: 30.5% industry: 17.3% services: 52.2% (2003 est.)
Exports:
$1.714 billion f.o.b.; note - includes free trade zones (2006 est.)
coffee, beef, shrimp and lobster, tobacco, sugar, gold, peanuts
Imports:
$3.202 billion f.o.b. (2006 est.)
consumer goods, machinery and equipment, raw materials, petroleum products
Overview:
Nicaragua, the second poorest country in the Western Hemisphere, has low per capita income and widespread underemployment. 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 $4.5 billion in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative and in November 2006 obtained over $800 million in debt relief from the Inter-American Development Bank. 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. Energy shortages, however, are a serious bottleneck to growth.
In 2007 Missouri exported $1,754,000 in goods to Nicaragua. This ranks Nicaragua 77th among the 223 international buyers of Missouri goods. Missouri exports to Nicaragua decreased from the previous year by $1,290,490 a change of -42.39%. State exports to Nicaragua have increased over the last 5 years by $1,262,364 a change of 256.77%. Missouri exports account for .01%. of all 2007 US exports to Nicaragua.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 491,636 | 407,714 | 822,266 | 1,297,831 | 3,044,490 | 1,754,000 | |
| 000 - Total All Industries US | 437,633,601 | 502,826,151 | 591,704,850 | 619,840,444 | 755,170,187 | 890,346,024 | |