South Korea / Nicaragua

Overview In February 2024, South Korea exported $4.15M and imported $1.02M from Nicaragua, resulting in a positive trade balance of $3.13M. Between February 2023 and February 2024 the exports of South Korea have decreased by $-2.4M (-36.7%) from $6.56M to $4.15M, while imports decreased by $-191k (-15.8%) from $1.21M to $1.02M.

Trade In February 2024, the top exports of South Korea to Nicaragua were Cars, tractors, trucks & parts thereof. ($3.87M), Machinery, mechanical appliances, & parts ($730k), Plastics & articles thereof ($375k), Special woven fabrics and tapestries ($273k), and Pharmaceutical products ($242k). In February 2024 the top imports of South Korea from Nicaragua were Non-knitted clothing accesories ($420k), Iron & steel ($142k), Copper articles ($140k), Knitted clothing accesories ($78k), and Tobacco & substitutes ($28k).

Growth In February 2024, the decrease in South Korea's year-by-year exports to Nicaragua was explained primarily by an decrease in product exports in Knitted fabrics ($-1.31M or -90.8%), Electrical machinery and electronics ($-281k or -76.6%), and Machinery, mechanical appliances, & parts ($-276k or -27.4%). In February 2024, the decrease in South Korea's year-by-year imports  from Nicaragua was explained primarily by an decrease in product imports  in Copper articles ($-1.12M or -88.9%), Knitted clothing accesories ($-25k or -24.3%), and Cotton ($-2k or -100%).