Nicaragua Tenders

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Capital Managua
ISO 3166 Code NI
Population 6,134,270
Area, Sq KM 129,494
Currency Nicaraguan cordoba
Official Language Spanish
GDP, Billion USD 10,507
GDP Growth Rate, % 4.0
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 6.16
Exchange Rate, 1 USD Equals 27.21
International dial code 505
Time Zone GMT-06:00
Internet TLD .ni

Nicaragua is officially known as the Republic of Nicaragua and it is the largest country in the Central American isthmus. The population of this country is slightly over 6 million. The capital of this country is known by the name, Managua and is the third-largest city in Central America. The multi-ethnic population of this nation includes Europeans, indigenous peoples, Africans, Asians along with the people of Middle Eastern origin. Spanish is spoken in these territories mainly but the native tribes on the eastern coast speak their very own languages. This region was conquered in the 16th century by the Spanish Empire. Nicaragua got its independence from Spain in the year 1821 and since then since then, it has undergone periods of political unrest, fiscal crisis and dictatorship. This country is considered to be a representative democratic republic and has experienced political stability along with economic growth in recent years. The blend of cultural traditions has led to substantial diversity in literature as well as in art. Particularly in literature, the literary contributions of Nicaraguan poets and writers are considered commendable. The biological diversity, active volcanoes and warm tropical climate make this country a prominent as well as popular tourist destination. The total area covered by Nicaragua is estimated to be 130,967 square kilometers. It has three distinct geographical regions such as the Pacific Lowlands, the North-central highlands and the Mosquito Coast. Nicaragua is known to be among the poorest countries in the Americas with gross domestic product in purchasing power parity as of 2008 at $17.37 billion US dollars. Agriculture comprises of 17% of the total GDP which is considered to be the highest percentage in Central America. Apart from that remittances account for over 15% of the GDP. It is estimated that almost one billion dollars are sent to Nicaragua by Nicaraguans living abroad. In the year 2011, the economy grew at a rate of about 4%. As per the United Nations Development Program, 48% of the population of this country is believed to live below the poverty line. World Bank has ranked Nicaragua as 123rd best economy for starting a business. The economy is 62.7% free with high levels of government labour, fiscal, government, investment, financial and trade freedom. Nicaragua is on 61st rank in terms of freest economy in the world and 14th in the Americas. Being an agricultural country, Nicaragua comprises 60% of its total exports which annually provide approximately US $300 million.

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