Honduras (HND) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Honduras-Nicaragua Trade: In 2023, Honduras exported $980M to Nicaragua. The main products that Honduras exported to Nicaragua were Knit T-shirts ($356M), Knit Sweaters ($104M), and Insulated Wire ($67.9M). Over the past 5 years the exports of Honduras to Nicaragua have increased at an annualized rate of 12.2%, from $550M in 2018 to $980M in 2023.

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

Nicaragua-Honduras Trade: In 2023, Nicaragua exported $297M to Honduras. The main products that Nicaragua exported to Honduras were Knit T-shirts ($103M), Dried Legumes ($27.4M), and Bananas ($18.5M). Over the past 5 years the exports of Nicaragua to Honduras have increased at an annualized rate of 11.2%, from $174M in 2018 to $297M in 2023.

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

Comparison: In 2023, Honduras ranked 88 in the Economic Complexity Index (ECI -0.53), and 95 in total exports ($11.9B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Honduras exported $980M to Nicaragua. The main products exported from Honduras to Nicaragua were Knit T-shirts ($356M), Knit Sweaters ($104M), and Insulated Wire ($67.9M). During the last 5 years the exports of Honduras to Nicaragua have increased at an annualized rate of 12.2%, from $550M in 2018 to $980M in 2023.

In 2018, Nicaragua exported $297M to Honduras. The main products exported from Nicaragua to Honduras were Knit T-shirts ($103M), Dried Legumes ($27.4M), and Bananas ($18.5M). During the last 5 years the exports of Nicaragua to Honduras have increased at an annualized rate of 11.2%, from $174M in 2023 to $297M in 2018.

Exports from Honduras () to Nicaragua () (2023)

Exports from Nicaragua () to Honduras () (2023)

Latest Data

Trade between Honduras () and Nicaragua ()

Honduras Exports

Date

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Honduras
Top DestinationUnited States$5.87B

Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Honduras than Nicaragua included United States ($5.87B), Guatemala ($616M), and Germany ($395M).

In 2023, countries that imported more from Nicaragua than Honduras included Mexico ($1.04B), Switzerland ($313M), and Costa Rica ($246M).

Difference in imports from Nicaragua () and Honduras () (2023)

Comparative Advantage Honduras - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Honduras had a large net trade with Nicaragua in the exports of Textiles ($588M), Foodstuffs ($112M), and Machines ($73.5M).

During 2018, Nicaragua had a large net trade with Honduras in the exports of Textiles ($163M), Vegetable Products ($53.2M), and Foodstuffs ($39M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Honduras Nicaragua+$11.4MInsulated Wire

Top Product Potential Nicaragua Honduras+$4.73MRefined 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 Honduras and Nicaragua. This means that a dot/product with the flag of Honduras indicates it has a comparative advantage over Nicaragua. Similarly, a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Honduras.

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Historical Data

Bilateral Trade by Products

Exports from Honduras () to Nicaragua () (2023)

Exports from Nicaragua () to Honduras () (2023)

Latest Data

Trade between Honduras () and Nicaragua ()

Honduras Exports

Nicaragua Exports

Market Competitiveness

Difference in imports from Nicaragua () and Honduras () (2023)

Comparative Advantage Honduras - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Honduras () and Nicaragua () (2023)

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