Costa Rica (CRI) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Costa Rica-Nicaragua Trade: In 2022, Costa Rica exported $593M to Nicaragua. The main products that Costa Rica exported to Nicaragua were Other Edible Preparations ($41.3M), Raw Iron Bars ($28.1M), and Packaged Medicaments ($23.4M). Over the past 5 years the exports of Costa Rica to Nicaragua have increased at an annualized rate of 0.89%, from $567M in 2017 to $593M in 2022.

In 2022, Costa Rica did not export any services to Nicaragua.

Nicaragua-Costa Rica In N/A, Nicaragua did not export any products to Costa Rica.

In 2022, Nicaragua did not export any services to Costa Rica.

Comparison: In 2022, Costa Rica ranked 51 in the Economic Complexity Index (ECI 0.32), and 82 in total exports ($17.2B). That same year, Nicaragua ranked 110 in the Economic Complexity Index (ECI -0.97), and 111 in total exports ($7.92B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Costa Rica exported $593M to Nicaragua. The main products exported from Costa Rica to Nicaragua were Other Edible Preparations ($41.3M), Raw Iron Bars ($28.1M), and Packaged Medicaments ($23.4M). During the last 5 years the exports of Costa Rica to Nicaragua have increased at an annualized rate of 0.89%, from $567M in 2017 to $593M in 2022.

Nicaragua does not register exports to Costa Rica. The main products exported from Nicaragua to Costa Rica were Dried Legumes ($29.7M), Coffee ($23M), and Bovine Meat ($16.2M).

Exports from Costa Rica () to Nicaragua () (2022)

Exports from Nicaragua () to Costa Rica () (2022)

Latest Data

Trade between Costa Rica () and Nicaragua ()

Costa Rica Exports

Date

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Costa Rica
Top DestinationUnited States$6.83B

Nicaragua
Top DestinationUnited States$4.09B

This map shows whether countries import more from Costa Rica or Nicaragua. Each country is colored based on the difference in imports they receive from Costa Rica and Nicaragua or the difference in the growth in imports.

In 2022, countries that imported more from Costa Rica than Nicaragua included United States ($6.83B), Netherlands ($1.22B), and Belgium ($775M).

In 2022, countries that imported more from Nicaragua than Costa Rica included Mexico ($943M), El Salvador ($437M), and Switzerland ($118M).

Difference in imports from Nicaragua () and Costa Rica () (2022)

Comparative Advantage Costa Rica - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Costa Rica and Nicaragua by product, considering products traded by both, Costa Rica and Nicaragua.

During 2022, Costa Rica had a large net trade with Nicaragua in the exports of Foodstuffs ($156M), Chemical Products ($114M), and Metals ($60.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Costa Rica Nicaragua+$3.04MMedical Instruments

Top Product Potential Nicaragua Costa Rica+$3.47MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Costa Rica and Nicaragua. This means that a dot/product with the flag of Costa Rica indicates it has a comparative advantage over Nicaragua. Similarly, a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Costa Rica.

About

Historical Data

Bilateral Trade by Products

Exports from Costa Rica () to Nicaragua () (2022)

Exports from Nicaragua () to Costa Rica () (2022)

Latest Data

Trade between Costa Rica () and Nicaragua ()

Costa Rica Exports

Nicaragua Exports

Market Competitiveness

Difference in imports from Nicaragua () and Costa Rica () (2022)

Comparative Advantage Costa Rica - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Costa Rica () and Nicaragua () (2022)

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