Nicaragua (NIC) and Bolivia (BOL) Trade | The Observatory of Economic Complexity

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Nicaragua-Bolivia Trade: In 2023, Nicaragua exported $3.07M to Bolivia. The main products that Nicaragua exported to Bolivia were Hard Liquor ($3.03M), Non-Knit Men's Suits ($15.5k), and Knit Sweaters ($9.39k). Over the past 5 years the exports of Nicaragua to Bolivia have increased at an annualized rate of 21.6%, from $1.15M in 2018 to $3.07M in 2023.

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

Bolivia-Nicaragua Trade: In 2023, Bolivia exported $11M to Nicaragua. The main products that Bolivia exported to Nicaragua were Soybean Oil ($10.2M), Friction Material ($406k), and Industrial Fatty Acids, Oils and Alcohols ($129k). Over the past 5 years the exports of Bolivia to Nicaragua have increased at an annualized rate of 67.9%, from $824k in 2018 to $11M in 2023.

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

Comparison: In 2023, Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B). That same year, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $3.07M to Bolivia. The main products exported from Nicaragua to Bolivia were Hard Liquor ($3.03M), Non-Knit Men's Suits ($15.5k), and Knit Sweaters ($9.39k). During the last 5 years the exports of Nicaragua to Bolivia have increased at an annualized rate of 21.6%, from $1.15M in 2018 to $3.07M in 2023.

In 2018, Bolivia exported $11M to Nicaragua. The main products exported from Bolivia to Nicaragua were Soybean Oil ($10.2M), Friction Material ($406k), and Industrial Fatty Acids, Oils and Alcohols ($129k). During the last 5 years the exports of Bolivia to Nicaragua have increased at an annualized rate of 67.9%, from $824k in 2023 to $11M in 2018.

Exports from Nicaragua () to Bolivia () (2023)

Exports from Bolivia () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Bolivia ()

Nicaragua Exports

Date

Feb 2016

Jan 2016

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Bolivia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Bolivia
Top DestinationBrazil$1.54B

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

In 2023, countries that imported more from Nicaragua than Bolivia included United States ($4.38B), Mexico ($1.04B), and El Salvador ($488M).

In 2023, countries that imported more from Bolivia than Nicaragua included Brazil ($1.54B), India ($1.33B), and China ($1.21B).

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

Comparative Advantage Nicaragua - Bolivia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Bolivia in the exports of Foodstuffs ($3.03M), Textiles ($30.6k), and Machines ($2.07k).

During 2018, Bolivia had a large net trade with Nicaragua in the exports of Animal and Vegetable Bi-Products ($10.2M), Stone And Glass ($406k), and Chemical Products ($170k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Bolivia+$37.9kKnit T-shirts

Top Product Potential Bolivia Nicaragua+$22.8kMixed Mineral or Chemical Fertilizers

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 Nicaragua and Bolivia. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Bolivia. Similarly, a dot/product with the flag of Bolivia indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Bolivia () (2023)

Exports from Bolivia () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Bolivia ()

Nicaragua Exports

Bolivia Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Bolivia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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