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Nicaragua

República de Nicaragua

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$3.856 billion (2023 est.)

expenditures

$3.382 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$7.87 billion (2022 est.)

Exports 2023

$8.248 billion (2023 est.)

Exports 2024

$8.135 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$10.213 billion (2022 est.)

Imports 2023

$10.519 billion (2023 est.)

Imports 2024

$11.437 billion (2024 est.)

Industries

food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining

Labor force

3.225 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: official data; data cover general government debt and include debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as retirement, medical care, and unemployment, debt instruments for the social funds are not sold at public auctions; Nicaragua rebased its GDP figures in 2012, which reduced the figures for debt as a percentage of GDP

Public debt 2017

33.3% of GDP (2017 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

20.6% of GDP (2022 est.)

Remittances 2023

26.2% of GDP (2023 est.)

Remittances 2024

26.6% of GDP (2024 est.)

Exchange rates

Currency

cordobas (NIO) per US dollar -

Exchange rates 2020

34.342 (2020 est.)

Exchange rates 2021

35.171 (2021 est.)

Exchange rates 2022

35.874 (2022 est.)

Exchange rates 2023

36.441 (2023 est.)

Exchange rates 2024

36.624 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$6.753 billion (2023 est.)

Economic overview

low-income Central American economy; until 2018, nearly 20 years of sustained GDP growth; recent struggles due to COVID-19, political instability, and hurricanes; significant remittances; increasing poverty and food scarcity since 2005; sanctions limit investment

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

5% (2022 est.)

Unemployment rate 2023

4.8% (2023 est.)

Unemployment rate 2024

4.6% (2024 est.)

Exports - partners

USA 51%, Mexico 12%, El Salvador 6%, Canada 6%, Switzerland 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

USA 24%, China 13%, Mexico 9%, Honduras 9%, Guatemala 8% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$7,300 (2022 est.)

Real GDP per capita 2023

$7,500 (2023 est.)

Real GDP per capita 2024

$7,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

3.6% (2022 est.)

Real GDP growth rate 2023

4.4% (2023 est.)

Real GDP growth rate 2024

3.6% (2024 est.)

Agricultural products

sugarcane, milk, rice, oil palm fruit, maize, plantains, cassava, groundnuts, beans, chicken (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

garments, gold, insulated wire, coffee, beef (2023)

note: top five export commodities based on value in dollars

Imports - commodities

garments, refined petroleum, crude petroleum, plastic products, fabric (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$459.6 million (2022 est.)

Current account balance 2023

$1.465 billion (2023 est.)

Current account balance 2024

$817.618 million (2024 est.)

Taxes and other revenues

19.9% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$19.694 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

80.6% (2024 est.)

government consumption

12.3% (2024 est.)

investment in inventories

1.8% (2024 est.)

investment in fixed capital

22.9% (2024 est.)

exports of goods and services

40.5% (2024 est.)

imports of goods and services

-58.1% (2024 est.)

Population below poverty line

24.9% (2016 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

10.5% (2022 est.)

Inflation rate (consumer prices) 2023

8.4% (2023 est.)

Inflation rate (consumer prices) 2024

4.6% (2024 est.)

Industrial production growth rate

3.6% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$48.985 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$51.153 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$52.989 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

7.8% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

9% (2024 est.)

female

12% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$4.404 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$5.447 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$6.105 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

27.6% (2024 est.)

services

46.8% (2024 est.)

agriculture

14.4% (2024 est.)