General Country Information.
Nicaragua, the largest nation in Central America, is located in the heart of the isthmus between North and South America. The country is bordered by Honduras to the North and Costa Rica to the South, the Pacific Ocean to the West and the Caribbean to the East. It is a land of dazzling natural beauty, hospitable people, rich cultural traditions, and abundant investment opportunities.
Originally a colony, Nicaragua claimed its independence from Spain and became an independent Republic in 1821. Its culture reflects the heritage of the colonial period fused with native element.
The 2015-2016 Global Competitiveness Index, published by the World Economic Forum, Nicaragua as the third country in the Americas where crime and theft present the least inconveniences for business.
|Official Name||Republic of Nicaragua|
|Total Area||130,373.4 km|
|Standard Time Zone||UTC/GMT - 6 hours|
|GDP per capita*||US$2,026.7|
|GDP Real Growth Rate||4.9%|
|FDI Inflows*||US$1.22 billion|
|Total Exports*||US$4.90 billion|
|Annual Population Growth Rate||1.0%|
|Population under 39 years||76.1%|
|Human Development Index||0.614|
|Life Expectancy||74 years|
|Labor Force||3.2 million|
|Average Exchange Rate (2015)||C$28.62 = US$1.00|
|Accumulated Inflation Rate||3.05%|
Nicaragua has experienced sustained economic growth because of prolific fiscal, financial, and currency exchange policies. Clear legislation and administrative procedures concerning businesses have promoted exports, as well as contributed to a strong inflow of foreign investment in recent years. Moreover, current macroeconomic policies have allowed the national economy to remain stable during the international financial crises, with a growth of 4.9 percent in gross domestic product (GDP) and cumulative inflation rate that of 3.05 percent in 2015. International reserves also increased from US$382.8 million in 2001 to US$2.45 billion in December of 2015.
Nicaragua has one international airport, located in Managua, and six national airports, located in the Caribbean Region of Nicaragua in Bluefield, Corn Island, Bilwi, Siuna, Rosita and Bonanza, and two more located in San Juan del Norte and Nueva Guinea.
An expansion and modernization of Managua's Augusto C. Sandino International Airport, worth US$60 million, was finished in 2006. Along with an infrastructure revamp aimed to provide improved services to passengers, the project also included the construction of facilities for a more efficient cargo handling process.