Nicaragua: Facts & Stats

ECONOMY

Industry:

Nicaraguan industry expanded during the 1970s but was severely disrupted by the civil war and nationalization in 1979. In 1980, the manufacturing sector began to recuperate, and modest growth continued through 1984. In 1985, however, net output again declined, by an estimated 5%. In the mid 1980s, there were still many state enterprises, some of them created by nationalization; in 1985, the government announced plans for a mixed economy. All state monopolies except for public utilities have been eliminated; price controls have ended; and more than 300 state enterprises have been privatized since 1990. As of 2002, the state telecommunications company, water and sewage, and energy companies were due to be privatized.

The construction sector rebounded after the destruction wrought by Hurricane Mitch in 1998, but slowed in 2000. The building of shopping centers and hotels, the industrial production of meat and poultry, and the development of transportation and communications were all growth sectors in 2003. Manufacturing in free trade zones rose 22.9% in 2000 to $250 million. Manufacturing overall accounted for around 20% of GDP, and grew 2%.

Agriculture:

Coffee became Nicaragua's principal crop in the 1870s, a position it still held in 1992 despite the growing importance of other crops. Cotton gained importance in the late 1940s, and in 1992 was the second biggest export earner. In the early 1900s, Nicaraguan governments were reluctant to give concessions to the large United States banana companies, and bananas never attained the level of prominence in Nicaragua that they reached in Nicaragua's Central American neighbors; bananas were grown in the country, however, and were generally the third largest export earner in the post-World War II period. Beef and animal byproducts , the most important agricultural export for the three centuries before the coffee boom of the late 1800s, were still important commodities in 1992.

In 1989, the fifth successive year of decline, farm production declined by roughly 7 percent in comparison with the previous year. Production of basic grains fell as a result of Hurricane Joan in 1988 and a drought in 1989. By 1990 agricultural exports had declined to less than half the level of 1978. The only bright spot was the production of nontraditional export crops such as sesame, tobacco, and African palm oil.

Research & Development:

Among Nicaragua's scientific learned societies and research institutes are the Geophysical Observatory, founded in 1980, the Nicaraguan Society of Psychiatry and Psychology, founded in 1962, and the National Center of Agricultural Information and Documentation, founded in 1984. Part of the Ministry of Agriculture, all three institutes are in Managua. Nicaragua has six universities and colleges offering degrees in agricultural studies and other scientific studies. In 1987–97, science and engineering students accounted for 33% of college and university enrollments. The National Museum of Nicaragua, founded in 1896 in Managua, has exhibits concerning archaeology, ceramics, zoology, botany, and geology.

As of 2002 total research and development (R&D) expenditures amounted to $6.011 million, or 0.05% of GDP. In that same year, there were 50 researchers and 39 technicians engaged in R&D per million people. High technology exports in 2002 totaled $6 million or 5% of the country's manufactured exports.

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