Page "Economy of Nicaragua" Paragraph 0

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.