Nicaragua

Description of Nicaragua

Nicaragua, a country in Central America known for its diverse culture and breathtaking landscapes, is a nation with a rich history and promising potential. As a geopolitically strategic location connecting the North and South American continents, Nicaragua plays a vital role in international trade and regional stability. With a population that has shown resilience in the face of challenges, Nicaragua is working towards sustainable economic development and social progress. This website aims to explore the macroeconomic factors influencing Nicaragua's growth and its position in the global arena.

Population And Age Structure

Population, total: Nicaragua has a population of 6,755,895, which is significantly below the average population of 40,097,746. Nicaragua ranks 105 out of 194 countries in terms of population.

Population ages 0-14 (% of total population): With 30.40% of its population in the 0-14 age group, Nicaragua exceeds the average of 27.34%. Nicaragua ranks 74 out of 194 countries in this demographic.

Population ages 0-14, total: Nicaragua's total population in the 0-14 age group is 2,053,936, below the average of 10,327,379. Nicaragua ranks 96 out of 194 countries in this category.

Population ages 15-64 (% of total population): Nicaragua has 64.54% of its population in the 15-64 age group, slightly above the average of 63.44%. Nicaragua ranks 99 out of 194 countries in this demographic.

Population ages 15-64, total: With a total of 4,360,222 individuals in the 15-64 age group, Nicaragua falls below the average of 26,003,407. Nicaragua ranks 106 out of 194 countries in this category.

Population ages 65 and above (% of total population): Nicaragua's population ages 65 and above account for 5.06% of the total population, lower than the average of 9.22%. Nicaragua ranks 117 out of 194 countries in this segment.

Population ages 65 and above, total: In Nicaragua, the total population ages 65 and above is 341,737, significantly below the average of 3,766,959. Nicaragua ranks 117 out of 194 countries in this age group.

Summary

Nicaragua has a relatively small total population compared to the global average, with a higher percentage of young individuals aged 0-14 and a lower percentage of older individuals aged 65 and above. This demographic distribution may have implications for the country's future workforce, healthcare needs, and overall demographic trends, influencing policy priorities and social welfare programs in Nicaragua.

Population Miscellaneous

For Rural population, Nicaragua's value of 2,769,106 is below the average of 18,044,041. Nicaragua ranks 94 out of 190 countries in this data set.

Nicaragua's Urban population of 3,986,789 is also below the average of 22,425,747. It holds the 104th position out of 194 countries included in the dataset.

The country's Urban population (% of total population) stands at 59.012%, slightly below the average of 59.690%. Nicaragua ranks 100 out of the 194 countries in this category.

With an Age dependency ratio of 54.94%, Nicaragua is below the average of 59.22%. The country ranks 96 out of 194 in this attribute.

Nicaragua's Birth rate of 20.903 per 1,000 people is above the average of 19.384. It ranks 74 out of 192 countries included in the dataset.

On the Death rate front, Nicaragua's value of 5.703 per 1,000 people is below the average of 8.214. The country holds the 161st position out of 192 countries.

For Fertility rate (total births per woman), Nicaragua's rate of 2.349 is below the average of 2.603. It ranks 87 out of the 190 countries in this dataset.

Summary

Nicaragua generally has a rural population, urban population, and age dependency ratio below the global averages. However, it has a higher birth rate and lower death rate compared to the global average. The country's fertility rate is also below average. These indicators are important as they provide insights into Nicaragua's demographic profile, economic development challenges, and future population trends.

Military

When it comes to Military expenditure (current USD), Nicaragua spends $79,343,309.60, which is significantly below the average expenditure of $12,904,993,617.17. Nicaragua ranks 129th out of 149 countries in this category.

Nicaragua's Military expenditure (% of GDP) stands at 0.63%, notably lower than the average of 1.90%. This places Nicaragua at the 135th position out of 148 countries.

With a total of 12,000 Armed forces personnel, Nicaragua falls well below the average of 165,908 personnel. In this aspect, Nicaragua ranks 126th out of 164 countries.

When considering Armed forces personnel (% of total labor force), Nicaragua's percentage is 0.40%, which is lower than the average of 1.28%. Nicaragua holds the 130th rank out of 164 countries in this metric.

Summary

Nicaragua's military expenditure, both in absolute terms and as a percentage of its GDP, is significantly below global averages. The country also has a much smaller number of armed forces personnel compared to the global average. These indicators suggest that Nicaragua prioritizes other areas of development over its military capabilities, potentially impacting its defense readiness and influence on the global stage.

Natural Resources

1. Forest area (sq. km): Nicaragua has a forest area of 34,075.3 sq. km. This is below the average forest area of 211,606.11 sq. km. Nicaragua ranks 85th out of 191 countries in this attribute.

2. Land area (sq. km): Nicaragua's land area is 120,340 sq. km, which is lower than the average land area of 665,166.51 sq. km. The country ranks 98th out of 194 countries in land area.

3. Surface area (sq. km): Nicaragua's surface area is 130,370 sq. km, below the average surface area of 689,779.56 sq. km. The country ranks 97th out of 194 countries in surface area.

4. Arable land (hectares): Nicaragua has 1,503,000 hectares of arable land, which is lower than the average of 7,329,543.16 hectares. Nicaragua ranks 91st out of 190 countries in arable land.

5. Land under cereal production (hectares): Nicaragua has 407,063 hectares of land under cereal production, below the average of 4,206,011.63 hectares. The country ranks 101st out of 174 countries in this attribute.

6. Average precipitation in depth (mm per year): Nicaragua receives an average of 2280 mm of precipitation per year, higher than the average of 1157.83 mm. In this attribute, Nicaragua ranks 21st out of 178 countries.

7. Renewable internal freshwater resources, total (billion cubic meters): Nicaragua has 156.21 billion cubic meters of renewable internal freshwater resources, below the average of 240.41 billion cubic meters. The country ranks 43rd out of 178 countries in this aspect.

Summary

Nicaragua ranks below average in key indicators such as forest area, land area, surface area, arable land, and land under cereal production. However, it ranks above average in average precipitation and renewable internal freshwater resources. These statistics are crucial as they reflect Nicaragua's natural resource endowments, agricultural potential, and water availability, which are vital for the country's environmental sustainability, food security, and economic development.

Resource Rents

1. Total natural resources rents (% of GDP): Nicaragua's value is 1.66% of GDP, which is below the average of 4.63%. Nicaragua ranks 84th out of 175 countries in this attribute data.

2. Forest rents (% of GDP): Nicaragua's value is 1.60% of GDP, slightly above the average of 1.53%. Nicaragua ranks 42nd out of 174 countries in this attribute data.

3. Oil rents (% of GDP): Nicaragua's value is 0.008% of GDP, significantly below the average of 2.51%. Nicaragua ranks 96th out of 117 countries in this attribute data.

4. Mineral rents (% of GDP): Nicaragua's value is 0.05% of GDP, lower than the average of 1.23%. Nicaragua ranks 62nd out of 86 countries in this attribute data.

Summary

Nicaragua has below-average values for total natural resources rents, forest rents, oil rents, and mineral rents as a percentage of GDP compared to global averages, ranking lower than midway among countries in each category. These indicators suggest that Nicaragua may not be maximizing the economic potential of its natural resources compared to other nations. It is crucial for Nicaragua to assess and potentially enhance its natural resource management strategies to boost economic growth and maximize the contribution of these resources to its overall GDP.

Commodities

1. Cereal production (metric tons): Nicaragua's cereal production of 905,198 metric tons is significantly below the average of 17,249,945. Nicaragua ranks 111 out of 174 countries in cereal production data.

2. Aquaculture production (metric tons): Nicaragua's aquaculture production of 29,489 metric tons is far below the average of 679,642. Nicaragua ranks 54 out of 180 countries in aquaculture production data.

3. Capture fisheries production (metric tons): Nicaragua's capture fisheries production of 43,466.54 metric tons is below the average of 467,453. Nicaragua ranks 101 out of 190 countries in capture fisheries production data.

4. Total fisheries production (metric tons): Nicaragua's total fisheries production of 72,955.54 metric tons is below the average of 1,153,914. Nicaragua ranks 90 out of 182 countries in total fisheries production data.

5. Fertilizer consumption (kilograms per hectare of arable land): Nicaragua's fertilizer consumption of 77.06 kg per hectare is below the average of 159.04 kg per hectare. Nicaragua ranks 105 out of 187 countries in fertilizer consumption data.

Summary

Nicaragua exhibits below-average metrics across key macroeconomic indicators such as cereal production, aquaculture production, capture fisheries production, total fisheries production, and fertilizer consumption. These indicators are crucial as they reflect Nicaragua's agricultural sector's efficiency, productivity, and competitiveness on the global stage. Improving performance in these areas could enhance food security, economic growth, and sustainability for Nicaragua.

Intellectual Property

For the attribute "Scientific and technical journal articles," Nicaragua has a value of 37.67, which is significantly below the average of 15103.76. Nicaragua ranks 150th out of 192 countries in this attribute data.

Regarding "Charges for the use of intellectual property, payments (BoP, current US$)," Nicaragua's value of $600,000 is well below the average of $3,218,843,494.39. Nicaragua holds the 129th position out of 143 countries in this attribute data.

Summary

Nicaragua displays comparatively low values in key macroeconomic indicators such as "Scientific and technical journal articles" and "Charges for the use of intellectual property, payments." With Nicaragua ranking 150th and 129th out of 192 and 143 countries respectively in these indicators, it suggests a potential lack of investment in research and intellectual property. This could hinder the country's innovation and competitiveness in the global market, impacting its long-term economic development and ability to generate high-value industries.

Broad Economy Attributes

Analysis of key macroeconomic statistics for Nicaragua:

1. GDP (current US$): Nicaragua's GDP is $12.68 billion, which is significantly below the average GDP of $442.87 billion. Nicaragua ranks 129th out of 189 countries in terms of GDP.

2. GDP, PPP (current international $): With a GDP of $37.32 billion, Nicaragua falls below the average GDP of $734.14 billion. It holds the 118th position out of 181 countries in GDP, PPP.

3. GDP per capita (current US$): Nicaragua's GDP per capita is $1876.61, notably lower than the average GDP per capita of $15462.11. The country ranks 146th out of 190 countries in terms of GDP per capita.

4. GDP per capita, PPP (current international $): Nicaragua's GDP per capita, PPP, stands at $5523.56, below the average of $21251.89. Nicaragua is ranked 131st out of 181 countries for GDP per capita, PPP.

5. GNI (current US$): Nicaragua's GNI is $11.85 billion, significantly lower than the average GNI of $452.04 billion. Nicaragua holds the 133rd position out of 185 countries in terms of GNI.

6. GNI, PPP (current international $): With a GNI of $34.89 billion, Nicaragua's GNI is below the average of $730.70 billion. It ranks 122nd out of 181 countries in GNI, PPP.

7. GNI per capita, PPP (current international $): Nicaragua's GNI per capita, PPP, is $5160, lower than the average of $20615.75. Nicaragua is ranked 135th out of 181 countries for GNI per capita, PPP.

Summary

Nicaragua's macroeconomic indicators, including GDP, GDP per capita, and GNI, consistently fall below global averages, indicating a lower level of economic development compared to the rest of the world. These statistics are crucial as they highlight Nicaragua's relatively lower economic output and income levels, showcasing areas where the country may need to focus on to improve its economic well-being and competitiveness on the global stage.

Broad Value Added

- Gross value added at basic prices (GVA) in Nicaragua is 11,440,993,657.88 USD, ranking 125th out of 176 countries. This value is significantly below the attribute average of 360,070,943,595.12 USD.
- Agriculture, forestry, and fishing value added (% of GDP) for Nicaragua is 15.74%, placing it at the 51st position out of 182 countries. This value is above the attribute average of 10.86%.
- Agriculture, forestry, and fishing value added in Nicaragua is 1,995,071,824.62 USD, ranking 106th out of 182 countries. Nicaragua falls below the attribute average of 19,924,732,828.07 USD.
- Services value added (% of GDP) in Nicaragua stands at 49.08%, securing the 142nd position out of 183 countries. This value is under the attribute average of 56.72%.
- Services value added in Nicaragua amounts to 6,223,028,384.79 USD, ranking 130th out of 183 countries. The value falls notably below the attribute average of 295,837,711,130.69 USD.
- Industry (including construction) value added in Nicaragua is 3,222,893,448.46 USD, placing it at the 124th position out of 183 countries. This value is significantly lower than the attribute average of 118,421,095,413.50 USD.

Summary

Nicaragua demonstrates a lower Gross Value Added compared to the global average, ranking 125th. Nevertheless, the country excels in Agriculture, forestry, and fishing value added, surpassing the attribute average percentage of GDP and showing potential in this sector. However, Nicaragua lags behind in Services and Industry value added, highlighting areas for improvement to enhance overall economic performance and diversification.

Manufacturing Value Added

For Manufacturing, value added (current US$), Nicaragua's value is significantly below the average, ranking 108 out of 173 countries in the dataset.

Nicaragua's Manufacturing, value added (% of GDP) is above the average, ranking 63 out of 173 countries in the dataset.

In terms of Medium and high-tech manufacturing value added (% manufacturing value added), Nicaragua's value is below the average, ranking 105 out of 149 countries in the dataset.

Nicaragua's Chemicals (% of value added in manufacturing) is much below the average, ranking 85 out of 89 countries in the dataset.

For Food, beverages and tobacco (% of value added in manufacturing), Nicaragua's value is significantly above the average, ranking 9 out of 92 countries in the dataset.

Nicaragua's Machinery and transport equipment (% of value added in manufacturing) is below the average, ranking 60 out of 93 countries in the dataset.

Regarding Textiles and clothing (% of value added in manufacturing), Nicaragua's value is well above the average, ranking 5 out of 93 countries in the dataset.

Lastly, Nicaragua's Other manufacturing (% of value added in manufacturing) is significantly below the average, ranking 93 out of 94 countries in the dataset.

Summary

Nicaragua's manufacturing sector exhibits a mixed performance compared to global averages. While the country excels in areas such as Food, beverages, and tobacco, Textiles and clothing, it lags in Chemicals and Other manufacturing. Understanding these statistics is crucial for policymakers and investors as it provides insights into Nicaragua's industrial strengths and weaknesses, guiding strategic decisions for sectoral development and economic growth.

Money

1. Inflation, consumer prices (annual %): Nicaragua's inflation rate of 3.68% is below the average of 8.26%. This places Nicaragua at rank 47 out of 165 countries in the dataset.

2. Inflation, GDP deflator (annual %): With an inflation rate of 5.38%, Nicaragua is slightly below the average of 6.90%. The country ranks 39 out of 188 countries.

3. Broad money growth (annual %): Nicaragua's broad money growth rate is 15.63%, which is lower than the average of 18.03%. Nicaragua ranks 58 out of 139 countries.

4. Broad money (% of GDP): Nicaragua's broad money as a percentage of GDP is 39.95%, significantly below the average of 71.75%. This places Nicaragua at rank 108 out of 139 countries.

5. Broad money to total reserves ratio: Nicaragua has a ratio of 1.58, much lower than the average of 5.17. Nicaragua ranks 108 out of 126 countries in this indicator.

Summary

Nicaragua generally exhibits lower inflation rates compared to the global averages, placing the country at relatively favorable rankings in both consumer price inflation and GDP deflator inflation. However, Nicaragua's performance in terms of broad money indicators such as broad money growth, broad money as a percentage of GDP, and broad money to total reserves ratio is below the global averages, resulting in lower rankings.

These findings are important as they suggest that while Nicaragua is successful in managing inflation rates, there may be challenges in terms of broad money dynamics and its relationship to the country's GDP and reserves. Addressing these discrepancies can be crucial for ensuring overall economic stability and sustainable growth in Nicaragua.

Consumption Expenditure

Final consumption expenditure (current US$): Nicaragua's final consumption expenditure is $10,864,849,877.36, significantly below the average of $381,630,252,515.38. Nicaragua ranks 118 out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Nicaragua's final consumption expenditure as a percentage of GDP is 85.70%, slightly above the average of 82.37%. Nicaragua ranks 59 out of 159 countries in this attribute.

General government final consumption expenditure (current US$): Nicaragua's general government final consumption expenditure is $1,925,041,207.41, much lower than the average of $93,676,578,238.03. Nicaragua ranks 119 out of 158 countries in this attribute.

General government final consumption expenditure (% of GDP): Nicaragua's general government final consumption expenditure as a percentage of GDP is 15.18%, below the average of 18.71%. Nicaragua ranks 102 out of 158 countries in this attribute.

Household and NPISHs Final consumption expenditure (current US$): Nicaragua's household and NPISHs final consumption expenditure is $8,939,779,551.19, significantly below the average of $290,127,571,157.69. Nicaragua ranks 117 out of 158 countries in this attribute.

Households and NPISHs final consumption expenditure (% of GDP): Nicaragua's household and NPISHs final consumption expenditure as a percentage of GDP is 70.51%, above the average of 63.68%. Nicaragua ranks 54 out of 158 countries in this attribute.

Summary

Nicaragua exhibits lower final consumption expenditure figures compared to the global average across various categories, such as total final consumption expenditure, government final consumption, and household final consumption. Despite ranking lower in total expenditure, Nicaragua tends to allocate a higher percentage of its GDP towards final consumption compared to the global average. These statistics are crucial as they indicate Nicaragua's level of economic activity, government spending patterns, and household consumption behavior in relation to other countries, providing insight into its economic development and potential future growth trajectories.

Investment

Foreign direct investment, net (BoP, current US$): Nicaragua received a net FDI of -707 million USD. This is above the average of -1615 million USD, ranking Nicaragua 99th out of 169 countries.

Foreign direct investment, net inflows (BoP, current US$): Nicaragua had net inflows of 746.5 million USD, below the average of 5749.3 million USD, placing Nicaragua 81st out of 182 countries.

Foreign direct investment, net inflows (% of GDP): Nicaragua's net inflows of FDI accounted for 5.88% of its GDP, surpassing the average of 2.61%. This places Nicaragua 28th out of 178 countries.

Foreign direct investment, net outflows (BoP, current US$): Nicaragua had net outflows of 39.5 million USD, significantly below the average of 5707.8 million USD. Nicaragua ranks 83rd out of 156 countries.

Foreign direct investment, net outflows (% of GDP): Nicaragua's net outflows accounted for 0.31% of its GDP, well below the average of 1.00%, placing Nicaragua in the 67th position out of 155 countries.

Portfolio Investment, net (BoP, current US$): Nicaragua's net portfolio investment was 133 million USD, below the average of 679.6 million USD, ranking Nicaragua 59th out of 159 countries included in the data.

Summary

Nicaragua's foreign direct investment performance ranks the country higher than average in terms of net FDI received, net FDI inflows, and net FDI inflows as a percentage of GDP; however, it lags behind in net FDI outflows and net FDI outflows as a percentage of GDP. Additionally, Nicaragua's net portfolio investment is below the global average. These indicators are crucial for assessing Nicaragua's attractiveness to foreign investors, its capital flow dynamics, and its integration into the global economy.

Debt

1. Total debt service (% of GNI): Nicaragua's total debt service as a percentage of GNI is 15.11%, significantly higher than the average of 5.98%. Nicaragua ranks 11 out of 120 countries in this category.

2. Public and publicly guaranteed debt service (% of GNI): Nicaragua's percentage of public and publicly guaranteed debt service is 2.93%, slightly above the average of 2.84%. Nicaragua ranks 47 out of 120 countries.

3. External debt stocks (% of GNI): Nicaragua's external debt stocks as a percentage of GNI stand at 116.08%, much higher than the average of 65.42%. Nicaragua ranks 13 out of 120 countries.

4. Debt service on external debt, total (TDS, current US$): Nicaragua's total debt service on external debt is $1,791,363,933.60, lower than the average of $9,811,195,839.23. Nicaragua ranks 51 out of 123 countries.

5. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Nicaragua's debt service on public and publicly guaranteed external debt is $347,166,776.40, below the average of $3,310,612,057.60. Nicaragua ranks 70 out of 123 countries.

6. External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Nicaragua's external debt stocks of public and publicly guaranteed debt amount to $5,903,257,655, much lower than the average of $28,695,879,144.98. Nicaragua ranks 65 out of 123 countries.

7. External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Nicaragua's external debt stocks of private nonguaranteed debt stand at $6,446,472,000, significantly below the average of $33,734,699,285.22. Nicaragua ranks 43 out of 91 countries.

8. External debt stocks, total (DOD, current US$): Nicaragua's total external debt stocks amount to $13,760,303,958.20, much less than the average of $73,845,530,111.82. Nicaragua ranks 61 out of 123 countries.

Summary

Nicaragua exhibits relatively high levels of debt burden compared to global averages across various indicators such as total debt service, public debt service, and external debt stocks. Despite ranking lower in terms of total debt service on external debt and external debt stocks compared to other countries, Nicaragua still faces challenges in managing its debt sustainability.

These statistics are crucial as they highlight Nicaragua's financial vulnerability and the need for prudent debt management to prevent economic instability and potential default. Addressing these high debt levels is essential for ensuring sustainable economic growth, maintaining investor confidence, and safeguarding the country's financial future.

Broad Trade Attributes

1. Trade (% of GDP): Nicaragua's trade accounts for 88.93% of its GDP, which is above the average of 82.34%. Nicaragua ranks 47th out of 163 countries in this aspect.

2. Merchandise trade (% of GDP): Nicaragua's merchandise trade represents 90.42% of its GDP, significantly higher than the average of 60.01%. The country ranks 25th out of 186 nations in this category.

3. Trade in services (% of GDP): Nicaragua's trade in services contributes to 12.30% of its GDP, below the average of 24.63%. Nicaragua is ranked 102nd out of 171 countries for this metric.

4. External balance on goods and services (current US$): Nicaragua has a negative external balance of $649,115,392.46, significantly below the average of $3,405,509,011.13. The country is ranked 97th out of 163 nations in this regard.

5. External balance on goods and services (% of GDP): Nicaragua's external balance as a percentage of its GDP is -5.12%, slightly better than the average of -5.97%. In this aspect, Nicaragua ranks 92nd out of 163 countries.

Summary

Nicaragua has a high dependency on trade, with both trade and merchandise trade accounting for a significant percentage of its GDP, ranking 47th and 25th globally, respectively. However, the country's trade in services lags behind the global average, impacting its overall trade balance which is negative. Despite this, Nicaragua's external balance as a percentage of its GDP is slightly better than the average, indicating some stability in the country's economy.

These indicators are crucial as they showcase Nicaragua's reliance on international trade, highlighting both strengths and weaknesses in its trade composition. The negative external balance signifies a potential imbalance in its trade relationships, which could warrant further examination to enhance economic sustainability.

Net Trade

- In terms of Current account balance (BoP, current US$), Nicaragua's value is $456,100,000. This is significantly below the average of $1,443,864,831.49, ranking Nicaragua 50th out of 170 countries.
- Nicaragua's Current account balance (% of GDP) stands at 3.60%, which is above the average of -2.36%. This places Nicaragua in the 34th position out of 170 countries.
- For Net trade in goods and services (BoP, current US$), Nicaragua has a value of -$609,400,000. This is notably lower than the average of $2,604,730,003.57, ranking Nicaragua 96th out of 171 countries.
- In terms of Net primary income (BoP, current US$), Nicaragua records -$824,100,000, slightly below the average of -$903,807,529.74, positioning Nicaragua in the 99th place out of 170 countries.
- Nicaragua's Net secondary income (BoP, current US$) is $1,889,600,000, a significant difference from the average of -$269,227,340.40, placing Nicaragua in the 45th position out of 170 countries.
- Nicaragua's Net trade in goods (BoP, current US$) is -$942,700,000, below the average of $1,302,831,005.68, ranking Nicaragua 102nd out of 171 countries.
- In the Net capital account (BoP, current US$) category, Nicaragua records $111,400,000, lower than the average of $136,543,824.05, placing Nicaragua in the 64th position out of 159 countries.
- Lastly, for Net financial account (BoP, current US$), Nicaragua's value is $201,509,846.56, significantly above the average of -$469,840,994.63, ranking Nicaragua 62nd out of 170 countries.

Summary

Nicaragua's current account balance, net trade in goods and services, and primary income show deficits compared to global averages. However, the country's net secondary income and financial account perform better than average. These statistics are crucial as they indicate Nicaragua's position in global trade, its ability to attract foreign investment, and its reliance on secondary income sources for economic stability.

Broad Export Attributes

Analysis of key export attributes for Nicaragua:

1. Exports of goods, services and primary income (BoP, current US$): Nicaragua's value is $5,382,100,000, which is significantly below the average of $146,238,908,936. The country ranks 112th out of 170 countries included in the data.

2. Exports of goods and services (BoP, current US$): Nicaragua's value is $5,342,100,000, also notably lower than the average of $122,938,540,059. The country is ranked 110th out of 170 countries.

3. Exports of goods and services (current US$): With a value of $5,312,775,954.85, Nicaragua falls short of the average of $129,596,864,610.19. The country ranks 107th out of 163 countries.

4. Exports of goods and services (% of GDP): Nicaragua's value of 41.90% is higher than the average of 38.19%. The country ranks 47th out of 163 countries.

5. Goods exports (BoP, current US$): Nicaragua's value is $4,395,800,000, significantly below the average of $93,310,581,697. The country ranks 106th out of 171 countries.

6. ICT goods exports (% of total goods exports): Nicaragua's value is 0.0397%, well below the average of 3.81%. The country ranks 129th out of 142 countries.

Summary

Nicaragua's key export attributes paint a picture of a country with export values significantly below global averages across various categories such as goods, services, and income. Despite this, Nicaragua has a higher percentage of exports to GDP compared to the average, indicating a reliance on exports for economic activity. The low ranking in ICT goods exports suggests a potential area for development to enhance competitiveness in the global market.

These findings are important as they highlight Nicaragua's position in the global export market, showcasing areas of strength and weakness. Understanding these indicators is crucial for policymakers and stakeholders to make informed decisions aimed at improving the country's export performance and overall economic development.

Merchandise Exports

Analysis of key export attributes for Nicaragua:

Summary

Nicaragua's key export attributes show a mixed picture. While the country's merchandise exports value is significantly below the global average, its food exports significantly outperform the average, showcasing a potential strength in the agricultural sector. However, Nicaragua lags behind in fuel, ores, and metals exports compared to the global average, indicating potential areas for diversification and growth in the export market.

These findings are crucial as they highlight Nicaragua's export strengths and weaknesses, providing insights for policymakers and stakeholders to capitalize on the food export sector while strategizing on how to enhance and diversify exports in fuel, ores, and metals. By recognizing these export attributes, Nicaragua can work towards developing a more resilient and robust export-oriented economy.

Technology Exports

Manufactures exports (% of merchandise exports): Nicaragua's value for this attribute is 36.14%, which is below the average of 42.62%. Nicaragua ranks 80 out of 152 countries in this regard.

High-technology exports (current US$): Nicaragua's export value is $9,890,058, significantly below the average of $16,655,934,078.80. The country ranks 114 out of 151 countries.

High-technology exports (% of manufactured exports): With a value of 0.54%, Nicaragua falls below the average of 10.15%. The country ranks 142 out of 150 countries.

Medium and high-tech exports (% manufactured exports): Nicaragua's value of 17.31% is below the average of 34.29%. The country ranks 101 out of 149 countries.

Summary

Nicaragua underperforms in key macroeconomic indicators related to exports of manufactured goods, high-technology products, and medium/high-tech goods compared to global averages. This suggests a need for the country to focus on enhancing its technological capabilities and diversifying its export base to improve competitiveness in the global market.

Service Exports

Service exports in Nicaragua amount to $946.3 million, significantly below the average of $28.9 billion, ranking 107th out of 171 countries.

ICT service exports in Nicaragua stand at $187.6 million, much lower than the average of $4.58 billion, placing the country 79th out of 166 countries.

Nicaragua's ICT service exports as a percentage of total service exports are 19.82%, higher than the average of 11.75%, with a rank of 28 out of 166 countries.

Communications, computer, etc. services as a percentage of Nicaragua's service exports make up 72.27%, well above the average of 45.85%, ranking 25th out of 169 countries.

Transport services represent 6.06% of Nicaragua's service exports, below the average of 21.80%, placing the country 140th out of 169 countries.

Travel services account for 20.98% of Nicaragua's service exports, lower than the average of 26.40%, with a rank of 81 out of 167 countries.

Insurance and financial services make up 0.70% of Nicaragua's service exports, significantly under the average of 6.46%, ranking 143rd out of 161 countries.

Summary

Nicaragua's service exports exhibit strengths in ICT services, particularly in communications and computer-related fields, with a higher percentage contribution compared to the global average. However, the country lags in transport services and insurance/financial services. These indicators are crucial as they highlight Nicaragua's competitive advantage in certain service sectors and areas that require further development to enhance its overall service export performance and competitiveness on the global stage.

Commercial Service Exports

Analysis of Commercial Service Exports (current US$): Nicaragua's commercial service exports amount to $885,000,000, ranking 107 out of 171 countries. While below the average of $28,508,218,402.80, Nicaragua demonstrates potential for growth in this area.

Analysis of Travel Services (% of commercial service exports): With travel services accounting for 22.43% of its commercial service exports, Nicaragua ranks 80 out of 167 countries. This percentage is slightly below the average of 27.89%, indicating room for improvement in attracting tourism.

Analysis of Computer, Communications, and Other Services (% of commercial service exports): Nicaragua excels in this category, with such services constituting 70.35% of its commercial service exports. This far surpasses the average of 42.44%, positioning Nicaragua at 22 out of 169 countries.

Analysis of Insurance and Financial Services (% of commercial service exports): Nicaragua's focus on insurance and financial services is limited, representing only 0.75% of its commercial service exports. This falls significantly below the average of 6.97%, placing Nicaragua at rank 144 out of 161 countries.

Analysis of Transport Services (% of commercial service exports): Nicaragua's transport services contribute 6.47% to its commercial service exports, ranking 138 out of 169 countries. This figure is notably below the average of 23.37%, suggesting potential for expansion in this sector.

Summary

Nicaragua's commercial service exports amount to $885 million, ranking 107 out of 171 countries. While excelling in computer, communications, and other services with 70.35%, it lags in insurance and financial services at 0.75%. The country shows potential for growth in tourism, as travel services constitute 22.43%, below the average.

These findings are important as they highlight Nicaragua's strengths and weaknesses in various service sectors. By capitalizing on its success in computer and communication services and improving its performance in attracting tourism and expanding insurance and financial services, Nicaragua can enhance its overall commercial service exports, boosting economic development and competitiveness on the global stage.

Broad Import Attributes

Imports of goods and services (current US$): Nicaragua's imports of goods and services amount to $5,961,891,347.31, which is significantly below the average of $126,191,355,599.06. Nicaragua ranks 110th out of 163 countries in this attribute.

Imports of goods and services (% of GDP): Nicaragua's imports of goods and services account for 47.02% of its GDP, slightly above the average of 44.15%. Nicaragua is ranked 55th out of 163 countries in this regard.

International tourism, expenditures (% of total imports): Nicaragua's international tourism expenditures as a percentage of total imports is 1.71%, lower than the average of 3.98%. Nicaragua ranks 105th out of 131 countries.

ICT goods imports (% total goods imports): Nicaragua's ICT goods imports represent 2.84% of its total goods imports, well below the average of 6.85%. Nicaragua ranks 122nd out of 143 countries in this category.

Goods imports (BoP, current US$): Nicaragua's goods imports amount to $5,338,500,000, significantly lower than the average of $92,007,788,027.17. Nicaragua ranks 107th out of 171 countries in this attribute.

Imports of goods and services (BoP, current US$): Nicaragua's imports of goods and services (BoP) equal $5,951,500,000, far below the average of $120,321,577,988.12. Nicaragua is ranked 114th out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Nicaragua's imports of goods, services, and primary income stand at $6,815,600,000, significantly lower than the average of $144,514,428,722.28. Nicaragua ranks 115th out of 170 countries in this attribute.

Summary

Nicaragua's key macroeconomic indicators related to imports of goods and services reveal a consistent trend of the country's import levels being significantly below global averages across various categories. This indicates potential challenges in terms of international trade competitiveness and economic diversification for Nicaragua. As imports play a crucial role in shaping a country's economy and its integration into the global market, the lower import levels in Nicaragua compared to global averages may highlight the need for strategies to boost import trade volumes to enhance economic growth and resilience.

Merchandise Imports

Regarding merchandise imports (current US$), Nicaragua's value is $6,377,000,000. This is significantly below the average of $89,385,605,263.16, ranking Nicaragua 110 out of 190 countries in the dataset.

For Manufactures imports (% of merchandise imports), Nicaragua's value is 71.73%, slightly above the average of 66.76%. Nicaragua ranks 49 out of 152 countries in this metric.

Concerning Agricultural raw materials imports (% of merchandise imports), Nicaragua's value is 1.43%, slightly higher than the average of 1.27%. Nicaragua ranks 51 out of 152 countries.

In terms of Food imports (% of merchandise imports), Nicaragua's value stands at 16.58%, above the average of 15.89%. Nicaragua ranks 58 out of 152 countries in this aspect.

For Fuel imports (% of merchandise imports), Nicaragua's value is 9.67%, below the average of 11.38%. Nicaragua ranks 89 out of 152 countries based on this metric.

Regarding Ores and metals imports (% of merchandise imports), Nicaragua's value is 0.55%, significantly below the average of 2.57%. Nicaragua ranks 136 out of 152 countries in this category.

Lastly, for Merchandise imports by the reporting economy, residual (% of total merchandise imports), Nicaragua's value is 4.53%, notably higher than the average of 2.51%. Nicaragua ranks 26 out of 180 countries in this particular metric.

Summary

Nicaragua displays a pattern of below-average merchandise imports in terms of total value, with a notable focus on manufactured goods. The country also demonstrates a diversified import portfolio, with a higher-than-average share of food imports but lower-than-average shares of agricultural raw materials, fuel, and ores/metals imports. The higher-than-average residual percentage indicates a relatively higher proportion of merchandise imports attributed to the reporting economy. These indicators are crucial for assessing Nicaragua's trade dynamics, economic dependencies, and potential vulnerabilities in the global market.

Service Imports

For Service imports (BoP, current US$), Nicaragua's value is $613,000,000, which is significantly below the average of $27,615,356,170.47. Nicaragua ranks 134 out of 171 countries included in the data.

Communications, computer, etc. (% of service imports, BoP) in Nicaragua stands at 19.00%, lower than the average of 44.40%. Nicaragua ranks 153 out of 169 countries.

Transport services (% of service imports, BoP) accounts for 53.21% in Nicaragua, higher than the average of 32.90%. Nicaragua ranks 21 out of 169 countries.

Travel services (% of service imports, BoP) contribute 10.33% in Nicaragua, under the average of 14.14%. Nicaragua ranks 90 out of 169 countries.

Regarding Insurance and financial services (% of service imports, BoP), Nicaragua's value is 17.46%, surpassing the average of 8.53%. Nicaragua holds the 17th rank out of 169 countries.

Summary

Nicaragua exhibits a stark contrast in its service imports compared to the global average across various sectors. While the country excels in transport services and insurance/financial services, it lags behind in communications and travel services. This disparity highlights the need for Nicaragua to diversify and strengthen its service import portfolio to enhance competitiveness and adapt to evolving global trends.

Commercial Service Imports

1. In terms of Commercial service imports (current US$), Nicaragua's value of 593,600,000 is significantly below the average of 27,102,746,128.60. Nicaragua ranks 134 out of 171 countries in this attribute.

2. For Computer, communications and other services (% of commercial service imports), Nicaragua's value of 16.36% is below the average of 41.71%. Nicaragua ranks 150 out of 169 countries in this attribute.

3. Nicaragua excels in Insurance and financial services (% of commercial service imports) with a value of 18.03%, significantly above the average of 8.85%. Nicaragua ranks 17 out of 169 countries in this attribute.

4. In Transport services (% of commercial service imports), Nicaragua's value of 54.95% is above the average of 34.71%. Nicaragua ranks 23 out of 169 countries in this attribute.

5. Lastly, in Travel services (% of commercial service imports), Nicaragua falls below the average with a value of 10.66% compared to the average of 14.73%. Nicaragua ranks 90 out of 169 countries in this attribute.

Summary

Nicaragua's commercial service imports value is notably lower than the global average, ranking 134th out of 171 countries. However, Nicaragua performs well in insurance and financial services, transport services, and slightly below average in travel services. These indicators are crucial as they reflect Nicaragua's trade dynamics, competitiveness in different service sectors, and potential areas for growth and improvement in the economy.

Infrastructure

Container port traffic in Nicaragua is 172,798 TEUs, significantly below the attribute average of 6,907,110 TEUs. Nicaragua ranks 100th out of 110 countries in this dataset.

Summary

Nicaragua's container port traffic of 172,798 TEUs is notably low compared to the dataset average of 6,907,110 TEUs. This places Nicaragua at the 100th position out of 110 countries in the dataset, indicating a significant underutilization of its port infrastructure. This low level of container port traffic may hinder Nicaragua's potential for international trade and economic growth, as efficient port operations are crucial for facilitating imports and exports, attracting foreign investment, and overall economic development.

Information Technology Infrastructure

Secure Internet servers: Nicaragua has 610 servers, which is significantly below the average of 458,294. Nicaragua ranks 130 out of 193 countries in this dataset.

Secure Internet servers (per 1 million people): Nicaragua's 90.29 servers per 1 million people is much lower than the average of 14,067.17. The country ranks 137 out of 193 in this metric.

Individuals using the Internet (% of population): With 53.40% of its population using the Internet, Nicaragua is below the average of 64.77%. The country ranks 127 out of 180 nations.

Fixed broadband subscriptions: Nicaragua has 290,351 subscriptions, far below the average of 6,591,956.35. This places Nicaragua at rank 104 out of 185 countries.

Mobile cellular subscriptions: Nicaragua's 5,962,186 subscriptions are significantly lower than the average of 42,526,463.87. Nicaragua ranks 116 out of 193 countries in this regard.

Summary

Nicaragua lags behind global averages in key internet and technology indicators such as secure internet servers, individuals using the internet, fixed broadband subscriptions, and mobile cellular subscriptions. This underperformance could hinder the country's economic development, digital connectivity, and overall competitiveness in the global economy. Improving these metrics is crucial for Nicaragua to enhance access to information, boost communication networks, and stimulate innovation and growth in various sectors.

Energy Consumption

For Renewable energy consumption (% of total final energy consumption), Nicaragua's value of 52.13% is significantly above the attribute average of 32.18%. The country ranks 45th out of 191 countries in this metric.

Regarding CO2 emissions (kt), Nicaragua's emissions of 4582.2 kt are notably below the attribute average of 171895.94 kt. The country holds the 130th position out of 188 countries in this dataset.

Summary

Nicaragua excels in renewable energy consumption, surpassing the global average by a significant margin and placing 45th worldwide. In contrast, the country's CO2 emissions are considerably lower than the global average, ranking 130th globally. These indicators reflect Nicaragua's commitment to sustainability and environmental preservation, positioning it as a leader in renewable energy adoption and emissions reduction efforts.

Government Balance Sheet

1. Total reserves (% of total external debt): Nicaragua's total reserves account for 23.34% of its total external debt, which is below the average of 66.13%. Nicaragua is ranked 68 out of 102 countries in this attribute.

2. Reserves and related items (BoP, current US$): Nicaragua's reserves and related items amount to $723,136,329.51, below the average of $1,924,407,186.58. Nicaragua is ranked 47 out of 171 countries for this statistic.

3. Total reserves minus gold (current US$): Nicaragua's total reserves minus gold stand at $3,211,903,361.96, significantly below the average of $74,221,588,171.61. Nicaragua ranks 100 out of 161 countries in this attribute.

4. Total reserves (includes gold, current US$): Nicaragua's total reserves including gold amount to $3,211,903,361.96, well below the average of $85,708,019,773.47. The country is ranked 101 out of 161 countries for this measure.

5. Total reserves in months of imports: Nicaragua's total reserves can cover approximately 5.66 months of imports, which is less than the average of 7.10 months. The country is ranked 73 out of 151 countries in this aspect.

Summary

Nicaragua's total reserves metrics consistently fall below global averages, indicating potential vulnerability in its ability to cover external debts, maintain adequate import coverage, and mitigate economic crises. Ranking low among countries in these indicators suggests a need for Nicaragua to enhance its reserve accumulation efforts to strengthen its financial stability and resilience against external shocks.

Government Revenue

Revenue, excluding grants (% of GDP): Nicaragua's value of 18.56% is below the average of 27.02%. It ranks 90th out of 122 countries in the dataset.

Grants and other revenue (% of revenue): Nicaragua's value of 10.23% is below the average of 23.54%. It ranks 85th out of 108 countries in the dataset.

Taxes on goods and services (% of revenue): Nicaragua's value of 47.13% is above the average of 31.82%. It ranks 12th out of 122 countries in the dataset.

Taxes on international trade (% of revenue): Nicaragua's value of 2.83% is below the average of 6.24%. It ranks 62nd out of 101 countries in the dataset.

Other taxes (% of revenue): Nicaragua's value of 0.61% is below the average of 2.12%. It ranks 65th out of 106 countries in the dataset.

Taxes on income, profits and capital gains (% of revenue): Nicaragua's value of 39.21% is above the average of 24.66%. It ranks 15th out of 119 countries in the dataset.

Summary

Nicaragua's revenue, excluding grants, as a percentage of GDP is below the average, indicating a potential challenge in generating internal income. However, the country performs relatively well in taxes on goods and services and taxes on income, profits, and capital gains, suggesting a reliance on indirect and direct taxation for revenue generation.

These indicators are important as they reveal Nicaragua's fiscal standing and its reliance on different revenue sources. Understanding these figures can provide insights into the country's economic stability, government budgeting strategies, and potential areas for improvement in revenue generation.

Taxes

1. Tax revenue (% of GDP): Nicaragua's tax revenue accounts for 17.08% of its GDP. This is slightly above the average of 16.72% among 123 countries, placing Nicaragua at rank 56.

2. Customs and other import duties (% of tax revenue): Nicaragua's percentage of 3.07% for customs and other import duties is below the average of 9.01% across 99 countries, ranking Nicaragua at 73 out of the total.

3. Taxes on income, profits and capital gains (% of total taxes): Nicaragua's 43.67% for taxes on income, profits, and capital gains is higher than the average of 38.40% observed among 120 countries, positioning Nicaragua at rank 39.

4. Tariff rate, applied, weighted mean, all products (%): Nicaragua's tariff rate of 1.84% is below the average of 5.21% for 153 countries. Nicaragua ranks 101 out of all the countries included in this data set.

Summary

Nicaragua exhibits a relatively strong tax revenue collection compared to other countries, with tax revenue accounting for 17.08% of its GDP, slightly above the global average. However, the country's reliance on customs and import duties is lower than average, which could indicate a need to diversify revenue sources. Nicaragua's higher proportion of taxes on income, profits, and capital gains signifies a focus on direct taxation. Additionally, the country's low weighted mean tariff rate on all products suggests a more open trade policy, potentially promoting economic growth through increased trade volumes.

Government Expenses

1. Expense (% of GDP): Nicaragua's expense as a percentage of GDP is 16.48%, which is below the average of 31.69%. Nicaragua ranks 109th out of 123 countries in this attribute.

2. Compensation of employees (% of expense): With a value of 39.08%, Nicaragua's compensation of employees as a percentage of expense is above the average of 24.70%. Nicaragua ranks 19th out of 123 countries in this attribute.

3. Goods and services expense (% of expense): Nicaragua's expenditure on goods and services as a percentage of total expense is 15.78%, slightly above the average of 14.77%. The country ranks 45th out of 122 countries in this aspect.

4. Interest payments (% of expense): Nicaragua allocates 7.63% of its expenses to interest payments, slightly higher than the average of 6.85%. The country ranks 44th out of 121 countries in this category.

5. Other expense (% of expense): Nicaragua's other expenses as a percentage of total expense stand at 6.69%, which is below the average of 8.29%. The country ranks 54th out of 120 countries in this regard.

6. Subsidies and other transfers (% of expense): Nicaragua's subsidies and other transfers account for 30.81% of its expenses, lower than the average of 43.29%. The country holds the 85th rank out of 121 countries for this attribute.

Summary

Nicaragua demonstrates prudent fiscal management with a below-average expense as a percentage of GDP and a higher allocation towards employee compensation compared to the global average. The country also prioritizes goods and services expenditure over other expenses, showcasing a focus on investments and growth. Maintaining lower-than-average allocations towards interest payments and subsidies further reflects Nicaragua's efficient resource utilization and financial stability.

These indicators are crucial as they provide insights into Nicaragua's economic priorities, efficiency in resource allocation, and overall financial health. By analyzing these metrics, policymakers and investors can assess the country's economic performance, sustainability of expenditures, and potential for long-term growth and development.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Food, beverages and tobacco (% of value added in manufacturing) 9/92
Textiles and clothing (% of value added in manufacturing) 5/93
Total debt service (% of GNI) 11/120
Taxes on goods and services (% of revenue) 12/122

Ranks in Bottom Decile For:

Attribute Rank/Total
Military expenditure (% of GDP) 135/148
Charges for the use of intellectual property, payments (BoP, current US$) 129/143
Chemicals (% of value added in manufacturing) 85/89
Other manufacturing (% of value added in manufacturing) 93/94
ICT goods exports (% of total goods exports) 129/142
High-technology exports (% of manufactured exports) 142/150
Communications, computer, etc. (% of service imports, BoP) 153/169
Container port traffic (TEU: 20 foot equivalent units) 100/110