About Nicaragua
Nicaragua, set between the Pacific Ocean and the Caribbean Sea, is a Central American nation known for its dramatic terrain of lakes, volcanoes and beaches. Vast Lake Managua and the iconic stratovolcano Momotombo sit north of the capital Managua. To its south is Granada, noted for its Spanish colonial architecture and an archipelago of navigable islets rich in tropical bird life.
Country Name: Nicaragua
Region: Central America
Capital: Managua
Official Language: Spanish
Currency: Nicaraguan córdoba (NIO)
Population: (update to current data)
Time Zone: Central Standard Time (CST)
Major Cities: Managua, León, Masaya, Matagalpa, Chinandega
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Trade Overview:
Nicaragua, primarily an agricultural country, exports coffee, beef, gold, sugar, and peanuts. It’s one of the poorest countries in the Americas, but it has made significant strides in economic development and stability.
Major Imports: Refined petroleum, packaged medicaments, cars, broadcasting equipment, plastics
Major Exports: Insulated wire, coffee, beef, gold, peanuts
Import/Export Regulations:
While Nicaragua’s trade regulations are relatively liberal, certain goods require specific permits. Always check with Nicaraguan customs authorities or seek professional legal advice.
Trade Agreements:
Nicaragua is part of the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) with the United States. It’s also a member of the Central American Common Market (CACM).
Business Culture:
Business in Nicaragua is conducted formally. Spanish is the language of business, and punctuality and respect are expected.
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