Market Research In Nicaragua

Nicaragua Profile:

  • Nicaragua, officially the Republic of Nicaragua is the largest country in the Central American isthmus.
  • Nicaragua is also home to the second-largest rainforest of the Americas, known as the “land of lakes and volcanoes”.
  • Nicaragua is primarily an agricultural country; agriculture constitutes 60% of its total exports which annually yield approximately $300 million. Nearly two-thirds of the coffee crop comes from the northern part of the central highlands
  • Despite being one of the poorest countries in Latin America, Nicaragua has improved its access to potable water and sanitation and has ameliorated its life expectancy, infant and child mortality and immunization rates.
  • According to the World Bank, Nicaragua ranked as the 123rd best economy for starting a business, It ranks as the 61st freest economy and 14th (of 29) in the Americas.

Nicaragua Economy:

  • Nicaragua, the poorest country in Central America and the second poorest in the Western Hemisphere, has widespread underemployment and poverty.
  • GDP growth of 4.7% in 2016 was insufficient to make a significant difference.
  • Textiles and agriculture combined account for nearly 50% of Nicaragua’s exports. Beef, coffee, and gold are Nicaragua’s top three export commodities.
  • Income distribution is very uneven, and the poor, agriculturalists and indigenous people continue to have less access to healthcare services.
  • According to the United Nations Development Programme, 48% of the population of Nicaragua live below the poverty line, 79.9% of the population live with less than $2 per day, According to UN figures, 80% of the indigenous people (who make up 5% of the population) live on less than $1 per day.

Nicaragua Facts:

  • Population: 6.03 million
  • Capital: Managua
  • Largest city: Managua
  • Area: 130,370 sq km
  • Major language: Spanish (official) 95.3%, Miskito 2.2%, Mestizo of the Caribbean coast 2%, other 0.5%
  • Major religion: Roman Catholic 51.6%, Evangelical 33.9%, other 1.5%, unspecified 12.9%
  • Life expectancy: 71.3 years (Male), 75.8 years (Female)
  • Monetary unit: 1 Córdoba Ora (NIO) = 100 Centavos
  • Main exports: Coffee, beef, gold, sugar, peanuts, shrimp and lobster, tobacco, cigars, automobile wiring harnesses, textiles, apparel
  • GNI per Capita: $5,550

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