Nicaragua

General Country Information.

About Nicaragua

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.

A Safe Country

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.

2015

General Country Information.


Official NameRepublic of Nicaragua
Total Area130,373.4 km
Capital CityManagua
Official LanguageSpanish
Standard Time ZoneUTC/GMT - 6 hours
GDP* US$12.70 billion
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
Population 6.24 million
Annual Population Growth Rate1.0%
Population under 39 years76.1%
Human Development Index 0.614
Life Expectancy74 years
Rate 97%
Labor Force 3.2 million
Unemployment1 6.7%
Under employment46%
CurrencyCordoba
Average Exchange Rate (2015)C$28.62 = US$1.00
Accumulated Inflation Rate3.05%
2014 III Quarter Data.Source: PRONicaragua, 2015. *Estimated data
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A Dynamic Economy

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.

Airports

General Country Information.


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.