Indicators of economy in Nicaragua
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Nicaragua, on the other hand, reached USD 2,046 per capita, or 14.01 billion USD for the whole country. Nicaragua is one of the smaller economies and is currently ranked 133. If this is calculated per inhabitant, taking purchasing power parity into account, then Nicaragua ranks 136th in the list of the richest countries.Inflation in Nicaragua in 2021 was around 4.93%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 64.2 percent lower.
The index for perceived corruption in the public sector is 20, which is rather poor by global standards.
Back to overview: Nicaragua
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Nicaragua in 2020 decreased moderatly from 12.60 billion US dollars to 12.59 billion US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 0.077 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The unemployment rate rose from 5.2 to 6.1 percent. The inflation rate fell from 5.4 percent previously to 3.7 percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Nicaragua Total | Nicaragua per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 14.01 bn USD | 2,045.54 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 13.36 bn USD | 1,950.23 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in billions of USD 1960 - 2021
› Debt budget development
› Development of inflation
› Corruption in Nicaragua
› Cost of living in a global comparison
› Development of inflation
› Corruption in Nicaragua
› Cost of living in a global comparison
Imports and Exports 2021
Nicaragua Total | Nicaragua per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 5.94 bn USD | 866.82 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 5.34 bn USD | 779.37 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in millions of USD 1977 - 2021
Exports
Imports