Economy In Nicaragua

Get Your Free Overseas Information
Report Today!


Learn more about NICARAGUA and other countries in our free, daily Overseas Opportunity Letter. Simply enter your email address below and we’ll send you our FREE REPORT - The 10 Best Places To Retire In

What’s The Nicaragua Economy Like?

Reviewed by Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

nicaraguan economy
AdobeStock/Rochu_2008

Simply put, Nicaragua is economically challenged. It remains the poorest country in Central America and the second poorest in the entire Western Hemisphere.

However, it is growing. And the combination of poverty and growth make it an ideal place to invest, which in turn helps support the Nicaraguan economy and earn the investor a tidy return too.

Under the administration of President Daniel Ortega, the Nicaraguan economy has increased dramatically although this growth has been somewhat held back by the global recession that began in 2008.

Inflation appears to be under control as well, at just over 6.32% in 2022, down from a high of almost 10.5% in 2022.

Industries In Nicaragua

Nicaraguan farmers produce a variety of crops. Among them are coffee, tobacco, bananas, sugarcane, cotton, soy, beef, pork, poultry, and dairy.

The largest industries in Nicaragua are petroleum refining and distribution, food processing, and especially tourism.

Economy In Nicaragua – Exports

Recent data shows that Nicaragua is the 113th largest exporting country globally with total exports of US$5.4 billion.

Exported goods have decreased however over the previous five years at a rate of nearly 20%.

Nicaragua’s biggest exports are insulated wire (at three-quarters of a billion US dollars) and coffee (nearly half a billion US dollars).

Top Export Partners

Biggest exports from Nicaragua go to the US (over half), followed by Mexico, Venezuela, Canada, and El Salvador.

Start Your New Life Today, Overseas

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas In

Economy In Nicaragua – Imports

As of the latest data available, Nicaragua was the 121st largest importing nation. The amount of goods imported into the country has increased by almost 10% every year with a recent high of US$6.27 billion.

The largest product imported has been petroleum (crude and refined), which account for a whopping 14.1% of all imports.

Top Import Partners

Nicaragua imports the most goods from the US (nearly a billion dollars annually), followed closely by China, Mexico, Guatemala, and Costa Rica.

Nicaragua Economic Statistics

GDP (purchasing power parity) (2023): US$43 (billions)

GDP per capita (2023): US$2.61 (billions)

Real annual growth rate (2023): USD $18.64 (billions)

Inflation (Dec. 2023): 6.32%

Unemployment (Nov. 2023): 3.90%.

Nicaragua - FAQs

What Is The Income Tax Rate For Residents In Nicaragua?

Residents are taxed on their Nicaraguan-sourced income at progressive rates, from 10% to 30%.

Popular Articles

No Content Available
No Content Available
No Content Available

Nicaragua Articles

The Best Places To Retire In Latin America

Easygoing cultures, friendly people, warm weather and all-year sunshine, extraordinary and diverse natural beauty from the Caribbean to the Pacific with mountainside villages and historic colonial cities in between... Plus a cost of living that means your budget can stretch two, three, four, five times further than it does back home... Especially right now thanks to the supercharged U.S. dollar. The Greenback is at historic highs versus the Mexican peso, the Colombian peso, the Brazilian real... It all adds up...

Read more

Get Your Free Overseas Information
Report Today!


Learn more about NICARAGUA and other countries in our free, daily Overseas Opportunity Letter. Simply enter your email address below and we’ll send you our FREE REPORT - The 10 Best Places To Retire In

Sign up to receive the FREE daily e-letter, Overseas Opportunity Letter and we’ll immediately email you our editors’ latest research report…

RETIRE OVERSEAS AND LIVE LIKE ROYALTY

;