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2023
Flag → Flag
Exports $476MRnk 4 / 149
2023
Flag → Flag
Top Product $353MGold
2023
Flag → Flag
Exports $133MRnk 74 / 215
2023
Flag → Flag
Top Product $64.2MWheat
2023
Flag
Economic Complexity (ECI) ECI -1Rnk 111 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.9Rnk 30 / 132
2023
Flag  
GDP$17.8BCURRENT US$
Rnk 127 / 195
2013-2023
Flag
GDP GROWTH62.3%CURRENT US$
Rnk 48 / 195
2023
Flag
 GDP$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
Flag
GDP GROWTH16%CURRENT US$
Rnk 150 / 195
2023
Flag
GDP PC $2,613CURRENT US$
Rnk 145 / 195
2013-2023
Flag
GDP PC GROWTH42.4%CURRENT US$
Rnk 58 / 195
2023
Flag
GDP PC$53,431CURRENT US$
Rnk 22 / 196
2013-2023
Flag
GDP PC GROWTH1.51%CURRENT US$
Rnk 152 / 195

About

Nicaragua-Canada Trade: In 2023, Nicaragua exported $476M to Canada. The main products that Nicaragua exported to Canada were Gold ($353M), Coffee ($26.3M), and Raw Sugar ($21M). Over the past 5 years the exports of Nicaragua to Canada have increased at an annualized rate of 46.5%, from $70.6M in 2018 to $476M in 2023.

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

Canada-Nicaragua Trade: In 2023, Canada exported $133M to Nicaragua. The main products that Canada exported to Nicaragua were Wheat ($64.2M), Potassic Fertilizers ($13.4M), and Used Clothing ($10.9M). Over the past 5 years the exports of Canada to Nicaragua have increased at an annualized rate of 25.4%,  from $42.8M in 2018 to $133M in 2023.

In 2020, Canada exported services to Nicaragua worth $2.98M, with Travel ($2.98M) being the largest in terms of value.

Comparison: In 2023,  Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B). That same year, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Nicaragua exported $476M to Canada. The main products exported from Nicaragua to Canada were Gold ($353M), Coffee ($26.3M), and Raw Sugar ($21M). During the last 5 years the exports of Nicaragua to Canada have increased at an annualized rate of 46.5%, from $70.6M in 2018 to $476M in 2023.

In 2018, Canada exported $133M to Nicaragua. The main products exported from Canada to Nicaragua were Wheat ($64.2M), Potassic Fertilizers ($13.4M), and Used Clothing ($10.9M). During the last 5 years the exports of Canada to Nicaragua have increased at an annualized rate of 25.4%, from $42.8M in 2023 to $133M in 2018.

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

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

Latest Data

Trade between Nicaragua (Flag) and Canada (Flag)

Nicaragua Exports

Canada Exports

Market Competitiveness

Color
Nicaragua
Top DestinationUnited States$4.38B
Canada
Top DestinationUnited States$410B

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

In 2023, countries that imported more from Nicaragua than Canada included El Salvador ($488M), Honduras ($297M), and Marshall Islands ($36.1k).

In 2023, countries that imported more from Canada than Nicaragua included United States ($410B), China ($31.1B), and United Kingdom ($18B).

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

Comparative Advantage Nicaragua - Canada

Flow
Scale

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

During 2023, Nicaragua had a large net trade with Canada in the exports of Precious Metals ($361M), Textiles ($42.3M), and Vegetable Products ($40M).

During 2018, Canada had a large net trade with Nicaragua in the exports of Vegetable Products ($65M), Chemical Products ($20.6M), and Textiles ($13.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Nicaragua Canada+$12.5MCoffee
Top Product Potential Canada Nicaragua+$2.18MPackaged Medicaments

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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Bilateral Service Trade

In 2020, Canada exported services to Nicaragua worth $2.98M, with Travel ($2.98M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada (Flag) to Nicaragua (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

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