|
Description:
Nicaragua borders Honduras to the north and Costa Rica to the
south. To the east lies the Caribbean, and to the west the Pacific. In
the north are the Isabella Mountains, while the country’s main feature
in the southwest is Lake Nicaragua, 148km (92 miles) long and about
55km (34 miles) at its widest. The island of Ometepe is the largest of
the 310 islands on the lake. These islands have a reputation for great
beauty and are one of the country’s main tourist attractions. Lake
Managua is situated to the northwest. Volcanoes, including the famous
Momotombo, protrude from the surrounding lowlands northwest of the
lakes. The country’s main rivers are the San Juan, the lower reaches
of which form the border with Costa Rica, and the Rio Grande. The Corn
Islands (Islas del Maiz) in the Caribbean are two small beautiful
islands fringed with white coral and palms. They are very popular as
holiday resorts with both Nicaraguans and tourists. The majority of
Nicaragua’s population lives and works in the lowland between the
Pacific and western shores of Lake Nicaragua, the southwestern shore
of Lake Managua and the southwestern sides of the range of volcanoes.
It is only in recent years that settlers have taken to coffee growing
and cattle farming in the highlands around Matagalpa and Jinotega.
Population :
5.1 million (2005 census).
language:
Spanish. Along the Mosquito Coast (Costa de Mosquito), there are
English-speaking communities in which African or mixed African and
indigenous Indians predominate.
Economy - overview:
Agriculture is the main component of Nicaragua's economy, with
coffee, sugar, bananas and meat the principal exports. Maize, beans
and rice are grown for domestic consumption. The principal
manufacturing industries are food, drinks, the production of
chemicals and oil refining. There is also a small mining industry
working deposits of gold, silver, lead and zinc.
Nicaragua is the poorest country in Latin America. Half the
population lies below the World Bank poverty line, although some
progress on reducing poverty was made under the presidency of
Enrique Bola?�os Geyer.
In 2001, Nicaragua was a beneficiary of the Heavily Indebted Poor
Countries (HIPC) initiative which wrote off part of the debt. It
reached completion point in January 2004, resulting in an 80%
reduction in external debt. Annual growth in 2005 was 4% and
inflation was 9.6%.
Nicaragua signed the Central American Free Trade Agreement (CAFTA)
in 2004. This came into force between the USA and Nicaragua in April
2006.
Economy:
Agriculture is the main component of Nicaragua's economy, with
coffee, sugar, bananas and meat the principal exports. Maize, beans
and rice are grown for domestic consumption. The principal
manufacturing industries are food, drinks, the production of
chemicals and oil refining. There is also a small mining industry
working deposits of gold, silver, lead and zinc.
Nicaragua is the poorest country in Latin America. Half the
population lies below the World Bank poverty line, although some
progress on reducing poverty was made under the presidency of
Enrique Bola?�os Geyer.
In 2001, Nicaragua was a beneficiary of the Heavily Indebted Poor
Countries (HIPC) initiative which wrote off part of the debt. It
reached completion point in January 2004, resulting in an 80%
reduction in external debt. Annual growth in 2005 was 4% and
inflation was 9.6%.
Nicaragua signed the Central American Free Trade Agreement (CAFTA)
in 2004. This came into force between the USA and Nicaragua in April
2006.
food processing, chemicals, machinery and metal products, textiles,
clothing, petroleum refining and distribution, beverages, footwear,
wood
Exports:
Coffee, seafood, beef, sugar, industrial goods, gold, bananas and
sesame.
Imports:
Petroleum, agricultural supplies and manufactured goods.
• Main trade partners: USA, El Salvador, Honduras, Costa Rica,
Venezuela and Mexico.
GDP :
US$4.9 billion (2005).
Useful links:
|