Economy
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Nicaraguan economy, used to be a mixed economy, and now is experiencing since the 1990s an ample structural adjustment that directs it towards a market economy. This is being achieved through the privatization of the state entities and the reduction of the public sector. |
Nicaragua production consists on basic products, the majority of which are agricultural products. This production is destined, fundamentally, for export and domestic consumption. The most important sector of the economy is agriculture, which represents 32% of the Gross domestic product. (Percentage of the GDP by sector: agriculture: 32%, industry: 24%, services: 44%).
The coffee and cotton staple products generate nearly half of the income from exports. Other important products dedicated for export are bananas, sugar, tobacco, sesame, rice and cattle meat. About 80% of the agricultural production is managed by the private sector.
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The industrial sector is relatively small; its output is used only on the domestic and regional markets.
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Gold, silver and salt are the main resources that provide income in the mining sector. Nevertheless, deposits not exploited of copper, lead, iron, antimony, tungsten, molybdenum and phosphate are still in existence.
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