Nicaragua's economy in numbers:
Nominal GDP of USD 15.7 billion in 2022.
Nominal GDP of USD 17.8 billion in 2023.
GDP per capita of USD 2,671 compared to the global average of USD 10,589.
GDP per capita of USD 2,373 compared to the global average of USD 10,589.
Average real GDP growth of 3.3% over the last decade.
Average real GDP growth of 3.1% over the last decade.
Economic structure:
In 2021, services accounted for 57% of overall GDP, manufacturing 14%, other industrial activity 14%, and agriculture 15%. Looking at GDP by expenditure, private consumption accounted for 75% of GDP in 2021, government consumption 14%, fixed investment 24%, and net exports -13%.International trade:
In 2021, manufactured products made up 38% of total merchandise exports, mineral fuels 1%, food 46%, ores and metals 1% and agricultural raw materials 1%, with other categories accounting for 13% of the total. In the same period, manufactured products made up 66% of total merchandise imports, mineral fuels 18%, food 14%, ores and metals 1% and agricultural raw materials 2%, with other goods accounting for -1% of the total. Total exports were worth USD 6 billion in 2022, while total imports were USD 9 billion.Economic growth:
The economy recorded average annual growth of 3.3% in the decade to 2022. To read more about GDP growth in Nicaragua, go to our dedicated page.
Fiscal policy:
Nicaragua's fiscal deficit averaged 1.6% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 5.1% in the decade to 2022. For more information on Nicaragua's unemployment click here.
Inflation:
Inflation averaged 5.6% in the decade to 2022. Go to our Nicaragua inflation page for extra insight.
Exchange Rate:
From end-2012 to end-2022 the córdoba weakened by 34% vs the U.S. dollar. For more info on the córdoba, click here.
45 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 12 expert analysts.
Want to get insight on the economic outlook for Nicaragua in the coming years? FocusEconomics collects projections out to 2034 on 45 economic indicators for Nicaragua from a panel of 12 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Nicaragua economy. To download a sample report on the Nicaragua's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.