Nicaragua’s Economy
History:
Nicaragua was settled by the Spanish in 1522. Its name came from the chief of the leading Indian tribe. In 1838 Nicaragua finally gained independence from Spain. In politics the competition for power was between the Liberals and the Conservatives. The U.S. sent a small group of marines to support the conservatives. A treaty between the U.S. and Nicaragua called The Bryan-Chamorro Treaty of 1916 which gave the U.S. an option on a canal route through Nicaragua and naval bases, and terminated on 1970. The Nicaragua form of government is Republican.
Recent News:
In June 2013 President Daniel Ortega signed a deal to grant a 50 year concession to a Hong Kong based company to build a rival to the Panama Canal across the country; leading from the Pacific to the Atlantic. Construction is set to begin on December 2014.
Nicaragua was settled by the Spanish in 1522. Its name came from the chief of the leading Indian tribe. In 1838 Nicaragua finally gained independence from Spain. In politics the competition for power was between the Liberals and the Conservatives. The U.S. sent a small group of marines to support the conservatives. A treaty between the U.S. and Nicaragua called The Bryan-Chamorro Treaty of 1916 which gave the U.S. an option on a canal route through Nicaragua and naval bases, and terminated on 1970. The Nicaragua form of government is Republican.
Recent News:
In June 2013 President Daniel Ortega signed a deal to grant a 50 year concession to a Hong Kong based company to build a rival to the Panama Canal across the country; leading from the Pacific to the Atlantic. Construction is set to begin on December 2014.
![Picture](/uploads/2/6/2/8/26284408/8527381.jpg)
Leadership:
Name: Daniel Ortega
Born: 11 November 1945
Birthplace: La Libertad, Nicaragua
Best known as: President of Nicaragua, 1985-90, 2007-present
Name: Daniel Ortega
Born: 11 November 1945
Birthplace: La Libertad, Nicaragua
Best known as: President of Nicaragua, 1985-90, 2007-present
Demographic Information:
· Population: 5,848,641
· Median Age:
· total: 24.2 years
· male: 23.3 years
· female: 25.1 years
· Education Levels:
· total: 11 years
· male: 10 years
· female: 11 year
· Life Expectancy:
· total population: 72.72 years
· male: 70.57 years
· female: 74.98 years
· Racial Make-Up:
· mestizo (mixed Amerindian and white) 69%, white 17%, black 9%, Amerindian 5%
· Principal Religions:
· Roman Catholic 58.5%, Protestant 23.2% (Evangelical 21.6%, Moravian 1.6%), Jehovah's Witnesses 0.9%, other 1.6%, none 15.7%
· Population: 5,848,641
· Median Age:
· total: 24.2 years
· male: 23.3 years
· female: 25.1 years
· Education Levels:
· total: 11 years
· male: 10 years
· female: 11 year
· Life Expectancy:
· total population: 72.72 years
· male: 70.57 years
· female: 74.98 years
· Racial Make-Up:
· mestizo (mixed Amerindian and white) 69%, white 17%, black 9%, Amerindian 5%
· Principal Religions:
· Roman Catholic 58.5%, Protestant 23.2% (Evangelical 21.6%, Moravian 1.6%), Jehovah's Witnesses 0.9%, other 1.6%, none 15.7%
Economy:
· GDP: $27.86 billion
· Per Capita GDP: $4,500
· Source of wealth: food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining
· Exports: $4.278 billion
o Partners: US 55.6%, Canada 8.6%, Venezuela 7.3%, El Salvador 4.2%
o Commodities: coffee, beef, gold, sugar, peanuts, shrimp and lobster, tobacco, cigars, automobile wiring harnesses, textiles, apparel, cotton
· Imports: $6.608 billion
o Partners: US 19%, Venezuela 14.8%, Mexico 12.2%, Costa Rica 8.5%, Guatemala 8%, China 7.9%, El Salvador 4.7%
o Commodities: consumer goods, machinery and equipment, raw materials, petroleum products
· GDP: $27.86 billion
· Per Capita GDP: $4,500
· Source of wealth: food processing, chemicals, machinery and metal products, knit and woven apparel, petroleum refining and distribution, beverages, footwear, wood, electric wire harness manufacturing, mining
· Exports: $4.278 billion
o Partners: US 55.6%, Canada 8.6%, Venezuela 7.3%, El Salvador 4.2%
o Commodities: coffee, beef, gold, sugar, peanuts, shrimp and lobster, tobacco, cigars, automobile wiring harnesses, textiles, apparel, cotton
· Imports: $6.608 billion
o Partners: US 19%, Venezuela 14.8%, Mexico 12.2%, Costa Rica 8.5%, Guatemala 8%, China 7.9%, El Salvador 4.7%
o Commodities: consumer goods, machinery and equipment, raw materials, petroleum products