Global Government Tenders

Most trusted source for Tendering Opportunities and Business Intelligence since 2002

Economy of Nicaragua and business opportunities

Economy of Nicaragua

Nicaragua's economy is focused primarily on the agricultural sector. It is the least developed country in Central America, and the second poorest in the Americas by nominal GDP. In recent years, under the administrations of Daniel Ortega, the Nicaraguan economy has increased dramatically, although it has also been subject to the global recession. The country's economy actually contracted by 1.5% in 2009, due to decreased export demand in the US and Central American markets, lower commodity prices for key agricultural exports, and low remittance growth, but saw 4.5% growth in 2010 thanks to a recovery in export demand and growth in its tourism industry. Nicaragua's economy continues to post growth, with preliminary indicators showing the Nicaraguan economy growing an additional 5% in 2011. Consumer Price inflation have also curtailed since 2008, when Nicaragua's inflation rate hovered at 19.82%. In 2009 and 2010, the country posted lower inflation rates, 3.68% and 5.45%, respectively.

Remittances are a major source of income, equivalent to 15% of the country's GDP, which originate primarily from Costa Rica, the United States, and European Union member states. Approximately one million Nicaraguans contribute to the remittance sector of the economy.

Nicaragua is primarily an agricultural country, but construction, mining, fisheries, and general commerce also have been expanding during the last few years. Gross Domestic Product (GDP) in purchasing power parity (PPP) in 2012 was estimated at $20.04 billion USD, and GDP per capita in PPP at $3,300 USD, making Nicaragua the second poorest country in the Western Hemisphere. The service sector is the largest component of GDP at 56.7%, followed by the industrial sector at 25.8%(2012). Agriculture represents 17.5% of GDP and it's the largest percentage in a Central American country. Nicaraguan labor force is estimated at 2.961 million of which 28% is occupied in agriculture, 19% in the industry sector and 53% in the service sector (2012).

Agriculture and food production

The only bright spot was the production of non traditional export crops such as sesame, tobacco, and African palm oil.

Services

The service sector was estimated to account for 56.8% of the country's GDP, and employs 52% of the active population. This section includes transportation, commerce, warehousing, restaurant and hotels, arts and entertainment, health, education, financial and banking services, telecommunications as well as public administration and defense.

Tourism in Nicaragua is one of the most important industries in the country. It is the second largest source of foreign exchange for the country and is predicted to become the first largest industry in 2007. The growth in tourism has positively affected the agricultural, commercial, finance, and construction industries as well.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Nicaragua"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Nicaragua from all over the world..

This section contains economy and business opportunities and from Nicaragua.
Nicaragua Economy Nicaraguan Economy, business opportunities in Nicaragua.
Summary:
Invitation To Bid (Itb) Ref Faoni -09/2024 - Radio Broadcasting Services. Open New Window
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
01 May 2024
Posting Date:
20 Apr 2024
 
 
 
Summary:
Multifunctional Printer Rental For The Unops Office In Managua, Nicaragua Open New Window
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
15 Apr 2024
 
 
 
Summary:
09-2024 Construction Of Homes For Extremely Poor Families In The Municipality Of Quilalí. (65 Homes)
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
11 Apr 2024
 
 
 
Summary:
04-2024 Construction Of Extreme Poverty Homes In The Municipality Of El Jícaro (29 Homes)
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
11 Apr 2024
 
 
 
Summary:
05-2024 Construction Of Extreme Poverty Housing In The Municipality Of San Pedro De Lóvago. (60 Homes)
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
11 Apr 2024
 
 
 
Summary:
08-2024 Construction Of Extreme Poverty Housing In The Municipality Of San Rafael Del Norte. (81 Homes)
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
09 Apr 2024
 
 
 
Summary:
Construction Of Extreme Poverty Homes In The Municipality Of Jinotega (64 Homes)
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
08 Apr 2024
 
 
 
Summary:
Construction Of Social Interest Housing, For Families In The Condition Of Extreme Poverty¨Jose Dolores Granados¨, In The Municipality Of Ciudad Darío. (40 Homes)
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
08 Apr 2024
 
 
 
Summary:
Faoni 05/2024 Invitation To Bid Itb Acquisition Of Roosters, Hens And Veterinary Products. Open New Window
Country:
Nicaragua
 
Notice Type:
Tender Notice
Deadline:
24 Apr 2024
Posting Date:
22 Mar 2024
 
 
 
Summary:
Ni-- Integrated Public Provision Of Health Care Services -- P164452
Country:
Nicaragua
 
Notice Type:
Procurement Plan
Deadline:
23 Jan 2025
Posting Date:
25 Jan 2024
 
 
 

Key Features

  • • 50000 + notices daily
  • • Daily Email alerts
  • • Personal dashboard
  • • Website Access
  • • Weekly Excel
  • • Market Reports
  • • Analytics
  • • Customer support

Quick Links