Sur, Managua mailing address: APO AA 34021 telephone: [505] (2) 662298,
666010, 666012, 666013, 666015, 666018, 666026, 666027, 666032, 666033
FAX: [505] (2) 669074

Flag description: three equal horizontal bands of blue (top), white,
and blue with the national coat of arms centered in the white band;
the coat of arms features a triangle encircled by the words REPUBLICA
DE NICARAGUA on the top and AMERICA CENTRAL on the bottom; similar to
the flag of El Salvador, 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

Economy Nicaragua

Economy - overview: Nicaragua, one of the hemisphere's poorest countries,
faces low per capita income, flagging socio-economic indicators, and huge
external debt. Distribution of income is extremely unequal. While the
country has made progress toward macroeconomic stabilization over the past
few years, a banking crisis and scandal has shaken the economy. Managua
will continue to be dependent on international aid and debt relief under
the Heavily Indebted Poor Countries (HIPC) initiative. Donors have made
aid conditional on improving governability, the openness of government
financial operation, poverty alleviation, and human rights. Nicaragua
met the conditions for additional debt service relief in December
2000. Growth should move up in 2002 because of increased private
investment and recovery in the global economy.

GDP: purchasing power parity - $12.3 billion (2001 est.)

GDP - real growth rate: 2.5% (2001 est.)

GDP - per capita: purchasing power parity - $2,500 (2001 est.)

GDP - composition by sector: agriculture: 33% industry: 23% services:
44% (2000)

Population below poverty line: 50% (2001 est.)

Household income or consumption by percentage share: lowest 10%: 0.7%
highest 10%: 48.8% (1998)

Distribution of family income - Gini index: 60.3 (1998)

Inflation rate (consumer prices): 7.4% (2001 est.)

Labor force: 1.7 million (1999)

Labor force - by occupation: services 43%, agriculture 42%, industry 15%
(1999 est.)

Unemployment rate: 23% plus considerable underemployment (2001 est.)

Budget: revenues: $726 million expenditures: $908 million, including
capital expenditures of $NA (2000 est.)

Industries: food processing, chemicals, machinery and metal produ