Gross Domestic Product for Nicaragua
MKTGDPNIA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,693,982,967.59
Year-over-Year Change
86.99%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross Domestic Product (GDP) for Nicaragua measures the total value of goods and services produced within the country. This key economic indicator is vital for tracking Nicaragua's economic performance and informing policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP is the broadest measure of a country's economic activity, representing the market value of all final goods and services produced. It is widely used by economists, policymakers, and analysts to assess a country's economic health, standard of living, and development.
Methodology
GDP for Nicaragua is calculated quarterly by the World Bank using national accounts data.
Historical Context
Trends in Nicaragua's GDP are closely monitored by the government, international organizations, and foreign investors to understand the country's economic trajectory and guide policy.
Key Facts
- Nicaragua's GDP was $12.3 billion in 2021.
- GDP per capita in Nicaragua was $1,870 in 2021.
- Nicaragua's GDP grew by 10.3% in 2021 after contracting in 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Nicaragua measures the total value of all goods and services produced within the country's borders over a given period.
Q: Why is this trend relevant for users or analysts?
A: Nicaragua's GDP is a crucial indicator of the country's overall economic performance and a key input for policymakers, investors, and economists analyzing the Central American economy.
Q: How is this data collected or calculated?
A: The World Bank calculates Nicaragua's GDP using national accounts data reported by the government.
Q: How is this trend used in economic policy?
A: Trends in Nicaragua's GDP are closely monitored by the government, international organizations, and foreign investors to understand the country's economic trajectory and guide fiscal, monetary, and development policies.
Q: Are there update delays or limitations?
A: The World Bank publishes Nicaragua's GDP data on a quarterly basis, with a delay of several months, so the most recent figures may not reflect the current economic situation.
Related Trends
Value of Exports to Nicaragua from California
CANICA052SCEN
Financial System Deposits to GDP for Nicaragua
DDDI08NIA156NWDB
Number of Identified Exporters to Nicaragua from Connecticut
CTNICA475SCEN
Population ages 65 and above for Nicaragua
SPPOP65UPTOZSNIC
Use of Financial Services Borrowers: Small and Medium Enterprises Borrowing from Non-deposit Taking Microfinance Institutions (MFIs for Nicaragua
NICFCRMFSPENUM
Number of Identified Exporters to Nicaragua from Montana
MTNICA475SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product for Nicaragua (MKTGDPNIA646NWDB), retrieved from FRED.