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2023
Flag → Flag
Exports $939MRnk 4 / 170
2023
Flag → Flag
Top Product $151MLight Rubberized Knitted Fabric
2023
Flag → Flag
Exports $186MRnk 8 / 149
2023
Flag → Flag
Top Product $25.8MFrozen Bovine Meat
2023
Flag
Economic Complexity (ECI) ECI -0.21Rnk 73 / 132
2023
Flag
Economic Complexity (ECI) ECI -1Rnk 111 / 132
2023
Flag  
GDP$104BCURRENT US$
Rnk 68 / 195
2013-2023
Flag
GDP GROWTH97.1%CURRENT US$
Rnk 16 / 195
2023
Flag
 GDP$17.8BCURRENT US$
Rnk 127 / 195
2013-2023
Flag
GDP GROWTH62.3%CURRENT US$
Rnk 48 / 195
2023
Flag
GDP PC $5,763CURRENT US$
Rnk 117 / 195
2013-2023
Flag
GDP PC GROWTH67.3%CURRENT US$
Rnk 27 / 195
2023
Flag
GDP PC$2,613CURRENT US$
Rnk 145 / 196
2013-2023
Flag
GDP PC GROWTH42.4%CURRENT US$
Rnk 58 / 195

About

Guatemala-Nicaragua Trade: In 2023, Guatemala exported $939M to Nicaragua. The main products that Guatemala exported to Nicaragua were Light Rubberized Knitted Fabric ($151M), Packaged Medicaments ($72.5M), and Pesticides ($38.3M). Over the past 5 years the exports of Guatemala to Nicaragua have increased at an annualized rate of 12.6%, from $519M in 2018 to $939M in 2023.

In 2023, Guatemala did not export any services to Nicaragua.

Nicaragua-Guatemala Trade: In 2023, Nicaragua exported $186M to Guatemala. The main products that Nicaragua exported to Guatemala were Frozen Bovine Meat ($25.8M), Bovine Meat ($23.5M), and Fermented Milk Products ($16.9M). Over the past 5 years the exports of Nicaragua to Guatemala have increased at an annualized rate of 3.37%,  from $157M in 2018 to $186M in 2023.

In 2023, Nicaragua did not export any services to Guatemala.

Comparison: In 2023,  Guatemala ranked 73 in the Economic Complexity Index (ECI -0.21), and 86 in total exports ($15.4B). That same year, Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Guatemala exported $939M to Nicaragua. The main products exported from Guatemala to Nicaragua were Light Rubberized Knitted Fabric ($151M), Packaged Medicaments ($72.5M), and Pesticides ($38.3M). During the last 5 years the exports of Guatemala to Nicaragua have increased at an annualized rate of 12.6%, from $519M in 2018 to $939M in 2023.

In 2018, Nicaragua exported $186M to Guatemala. The main products exported from Nicaragua to Guatemala were Frozen Bovine Meat ($25.8M), Bovine Meat ($23.5M), and Fermented Milk Products ($16.9M). During the last 5 years the exports of Nicaragua to Guatemala have increased at an annualized rate of 3.37%, from $157M in 2023 to $186M in 2018.

Exports from Guatemala (Flag) to Nicaragua (Flag) (2023)

Exports from Nicaragua (Flag) to Guatemala (Flag) (2023)

Latest Data

Trade between Guatemala (Flag) and Nicaragua (Flag)

Guatemala Exports

Nicaragua Exports

Date

Market Competitiveness

Color
Guatemala
Top DestinationUnited States$5.16B
Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Guatemala than Nicaragua included El Salvador ($1.73B), Honduras ($1.42B), and United States ($5.16B).

In 2023, countries that imported more from Nicaragua than Guatemala included Mexico ($1.04B), Switzerland ($313M), and Sweden ($21.8M).

Difference in imports from Nicaragua (Flag) and Guatemala (Flag) (2023)

Comparative Advantage Guatemala - Nicaragua

Flow
Scale

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

During 2023, Guatemala had a large net trade with Nicaragua in the exports of Chemical Products ($262M), Textiles ($183M), and Foodstuffs ($158M).

During 2018, Nicaragua had a large net trade with Guatemala in the exports of Animal Products ($99.9M), Textiles ($23.3M), and Foodstuffs ($19M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Guatemala Nicaragua+$3.58MKnit T-shirts
Top Product Potential Nicaragua Guatemala+$2.64MRefined 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

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

Product Space of Guatemala (Flag) and Nicaragua (Flag) (2023)

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