Type of economy
Nicaragua has a mixed economic system. This is the most common type of economy. The government and individuals share the decision making and individuals make decisions for private sectors with business'. Individuals own the means of production in a mixed economy.
Major Parts Of Economy
Nicaragua's main part of the economy is agriculture. Some agricultural products in Nica are coffee, bananas, sugar cane, rice, corn, and cotton. Some of the major industries are for food processing, making beverages, shoes, and knit/woven apparel. Nicaragua imports consumer goods, machinery and equipment, raw materials, and petroleum products from partners like the United States, Venezuela, and China.