Nicaragua has a
large burgeoning economy and is a home to many emerging industries. In year
2010, the economy of Nicaragua saw 4.5% growth because of recovery in export
demand and growth in the tourism industry. Nicaragua is primarily an
agricultural country. The main industries of the country include agriculture
and tourism. The country has a small open economy that benefits from foreign
direct investments and remittances. The economy of the country relies on light
manufacturing, services and agriculture.
Despite high
inflation, the GDP of the country expanded by 3.8% in 2022 and this expansion
was driven by robust private consumption fueled by remittances and net exports.
As per Nicaragua
Export Data, the export value of the country in 2021 was USD 6.95 billion,
making the country 110th exporter in the world.
Nicaragua export customs data shows the main
exports of the country are Gold, knit T-shirts, insulated wire, coffee and
frozen bovine meat. The main export partners of the country are United States,
Mexico, Honduras, Costa Rica and EL Salvador.