ador, which
features a round emblem encircled by the words REPUBLICA DE EL SALVADOR EN
LA AMERICA CENTRAL centered in the white band; also similar to the flag of
Honduras, which has five blue stars arranged in an X pattern centered in the
white band

*Nicaragua, Economy

Overview:
Government control of the economy historically has been extensive, although
the CHAMORRO government has pledged to greatly reduce intervention. Four
private banks have been licensed, and the government has liberalized foreign
trade and abolished price controls on most goods. In early 1993, fewer than
50% of the agricultural and industrial firms remain state owned. Sandinista
economic policies and the war had produced a severe economic crisis. The
foundation of the economy continues to be the export of agricultural
commodities, largely coffee and cotton. Farm production fell by roughly 7%
in 1989 and 4% in 1990, and remained about even in 1991-92. The agricultural
sector employs 44% of the work force and accounts for 15% of GDP and 80% of
export earnings. Industry, which employs 13% of the work force and
contributes about 25% to GDP, showed a drop of 7% in 1989, fell slightly in
1990, and remained flat in 1991-92; output still is below pre-1979 levels.
External debt is one of the highest in the world on a per capita basis. In
1992 the inflation rate was 8%, down sharply from the 766% of 1991.
National product:
GDP - exchange rate conversion - $1.7 billion (1992 est.)
National product real growth rate:
0.5% (1992 est.)
National product per capita:
$425 (1992 est.)
Inflation rate (consumer prices):
8% (1992)
Unemployment rate:
13% underemployment 50% (1991)
Budget:
revenues $347 million; expenditures $499 million, including capital
expenditures of $NA million (1991)
Exports:
$280 million (f.o.b., 1992 est.)
commodities:
coffee, cotton, sugar, bananas, seafood, meat, chemicals
partners:
OECD 75%, USSR and Eastern Europe 15%, other 10%
Imports:
$720 million (c.i.f., 1992 est.)
commodities:
petroleum, food, chemicals, machinery, clothing
partners:
Latin America 30%, US 25%, EC 20%, USSR and Eastern Europe 10%, other 15%
(1990 est.)
External debt:
$10 billion (December 1991)
Industrial production:
growth rate NA%; accounts for about 25% of GDP
Electricity:
434,000 kW capacity; 1,118 million kWh produced, 290 kWh per capita (1992)
Industries:
food process