Nicaragua’s recovering economy is the second best in Central America for starting a business. High levels of investment, increasing stability of the government and labor, fiscal and financial sectors, and trade freedom, have contributed to economic growth in recent years. Nicaragua is primarily an agricultural country exporting cash crops such as bananas, coffee, sugar, beef and tobacco. Light industry (maquila), tourism, banking, mining, fisheries, and general commerce are expanding. The services sector continues to be the largest component of Nicaragua’s GDP.
In 2014, ITC signed a Memorandum of Understanding with the Secretaría de integración económica centroamericana (SIECA) to support Central America economic development and regional integration. In this context, over the next 3 years ITC work in Central America will mainly focus on regional initiatives that address cross-cutting issues including trade information and market intelligence, regional branding and women economic empowerment. ITC is also partnering with the Inter-American Development Bank (IDB) to strengthen Trade Promotion Organizations on results-based-management.
Notes: Top 20 products listed in decreasing order of their export potential to the world. Development indicators are relative to the country’s current situation, green indicating performance above its trade-weighted median and red otherwise. A blank cell indicates that data are not available. A blank cell in export potential means that the product was not consistently demanded over five years by any country in the respective region. Exports (US$ thousand) correspond to average exports to the world over the period 2009-2013.