Introduction
Background
The Pacific coast of Nicaragua was settled as a Spanish colony in the early 16th century. Independence from Spain was declared in 1821, and the country became an independent republic in 1838. Democratic institutions have weakened as the president has assumed full control over all branches of government.
Geography
Area
total : 130,370 sq km
land: 119,990 sq km
water: 10,380 sq km
Climate
tropical in lowlands, cooler in highlands
Natural resources
gold, silver, copper, tungsten, lead, zinc, timber, fish
People and Society
Population
total: 6,676,948
Ethnic groups
Mestizo (mixed Indigenous and White) 69%, White 17%, Black 9%, Indigenous 5%
Languages
Spanish (official) 99.5%, Indigenous 0.3%, Portuguese 0.1%, other 0.1%; note - English and indigenous languages found on the Caribbean coast (2020 est.)
Religions
Roman Catholic 44.9%, Protestant 38.7% (Evangelical 38.2, Adventist 0.5%), other 1.2%, (includes Jehovah's Witness and Church of Jesus Christ), believer but not belonging to a church 1%, agnostic or atheist 0.4%, none 13.7%, unspecified 0.2% (2020 est.)
Population growth rate
0.95% (2024 est.)
Government
Government type
presidential republic
Capital
name: Managua
Executive branch
chief of state: President Jose Daniel ORTEGA Saavedra (since 10 January 2007)
head of government: President Jose Daniel ORTEGA Saavedra (since 10 January 2007)
Legislative branch
description: unicameral National Assembly or Asamblea Nacional (92 statutory seats, current 91; 70 members in multi-seat constituencies, representing the country's 15 departments and 2 autonomous regions, and 20 members in a single nationwide constituency directly elected by party-list proportional representation vote; up to 2 seats reserved for the previous president and the runner-up candidate in the previous presidential election; members serve 5-year terms)
Economy
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
Real GDP (purchasing power parity)
$51.088 billion (2023 est.)
$48.856 billion (2022 est.)
$47.089 billion (2021 est.)
Real GDP per capita
$7,300 (2023 est.)
$7,000 (2022 est.)
$6,900 (2021 est.)
Agricultural products
sugarcane, milk, rice, oil palm fruit, maize, plantains, cassava, groundnuts, beans, coffee (2022)
Industries
food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining
Exports
$8.25 billion (2023 est.)
$7.87 billion (2022 est.)
$6.618 billion (2021 est.)
Exports - partners
US 52%, Mexico 12%, Honduras 7%, El Salvador 6%, Costa Rica 3% (2022)
Exports - commodities
garments, gold, coffee, insulated wire, beef (2022)
Imports
$10.517 billion (2023 est.)
$10.212 billion (2022 est.)
$8.342 billion (2021 est.)
Imports - partners
US 26%, China 11%, Honduras 10%, Guatemala 9%, Mexico 9% (2022)
Imports - commodities
garments, refined petroleum, fabric, plastic products, crude petroleum (2022)
Exchange rates
cordobas (NIO) per US dollar -
Page last updated: Wednesday, July 24, 2024
