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Country name:

conventional long form: Republic of Nicaragua
conventional short form: Nicaragua
local long form: Republica de Nicaragua
local short form: Nicaragua

 

Capital:

Managua. Population: 1.4 million (2005 census).
 

 

Location:

Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Costa Rica and Honduras

 

Area:

120,254 sq km (46,430 sq miles).
 

 

map of Nicaragua

Description:
Nicaragua borders Honduras to the north and Costa Rica to the south. To the east lies the Caribbean, and to the west the Pacific. In the north are the Isabella Mountains, while the country’s main feature in the southwest is Lake Nicaragua, 148km (92 miles) long and about 55km (34 miles) at its widest. The island of Ometepe is the largest of the 310 islands on the lake. These islands have a reputation for great beauty and are one of the country’s main tourist attractions. Lake Managua is situated to the northwest. Volcanoes, including the famous Momotombo, protrude from the surrounding lowlands northwest of the lakes. The country’s main rivers are the San Juan, the lower reaches of which form the border with Costa Rica, and the Rio Grande. The Corn Islands (Islas del Maiz) in the Caribbean are two small beautiful islands fringed with white coral and palms. They are very popular as holiday resorts with both Nicaraguans and tourists. The majority of Nicaragua’s population lives and works in the lowland between the Pacific and western shores of Lake Nicaragua, the southwestern shore of Lake Managua and the southwestern sides of the range of volcanoes. It is only in recent years that settlers have taken to coffee growing and cattle farming in the highlands around Matagalpa and Jinotega.

Population :
5.1 million (2005 census).

language:
Spanish. Along the Mosquito Coast (Costa de Mosquito), there are English-speaking communities in which African or mixed African and indigenous Indians predominate.
 

Economy - overview:
Agriculture is the main component of Nicaragua's economy, with coffee, sugar, bananas and meat the principal exports. Maize, beans and rice are grown for domestic consumption. The principal manufacturing industries are food, drinks, the production of chemicals and oil refining. There is also a small mining industry working deposits of gold, silver, lead and zinc.
Nicaragua is the poorest country in Latin America. Half the population lies below the World Bank poverty line, although some progress on reducing poverty was made under the presidency of Enrique Bola?�os Geyer.
In 2001, Nicaragua was a beneficiary of the Heavily Indebted Poor Countries (HIPC) initiative which wrote off part of the debt. It reached completion point in January 2004, resulting in an 80% reduction in external debt. Annual growth in 2005 was 4% and inflation was 9.6%.

Nicaragua signed the Central American Free Trade Agreement (CAFTA) in 2004. This came into force between the USA and Nicaragua in April 2006.

Economy:
Agriculture is the main component of Nicaragua's economy, with coffee, sugar, bananas and meat the principal exports. Maize, beans and rice are grown for domestic consumption. The principal manufacturing industries are food, drinks, the production of chemicals and oil refining. There is also a small mining industry working deposits of gold, silver, lead and zinc.
Nicaragua is the poorest country in Latin America. Half the population lies below the World Bank poverty line, although some progress on reducing poverty was made under the presidency of Enrique Bola?�os Geyer.
In 2001, Nicaragua was a beneficiary of the Heavily Indebted Poor Countries (HIPC) initiative which wrote off part of the debt. It reached completion point in January 2004, resulting in an 80% reduction in external debt. Annual growth in 2005 was 4% and inflation was 9.6%.

Nicaragua signed the Central American Free Trade Agreement (CAFTA) in 2004. This came into force between the USA and Nicaragua in April 2006.

 

 

Industries:

food processing, chemicals, machinery and metal products, textiles, clothing, petroleum refining and distribution, beverages, footwear, wood

 

Exports:
Coffee, seafood, beef, sugar, industrial goods, gold, bananas and sesame.

Imports:
Petroleum, agricultural supplies and manufactured goods.
• Main trade partners: USA, El Salvador, Honduras, Costa Rica, Venezuela and Mexico.

GDP :
US$4.9 billion (2005).
 

 

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  Copyright By :  Kish Trade Promotion Center  2002