Nicaragua (NIC) and Colombia (COL) Trade | The Observatory of Economic Complexity

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Nicaragua-Colombia Trade: In 2023, Nicaragua exported $18M to Colombia. The main products that Nicaragua exported to Colombia were Ground Nuts ($12.5M), Raw Sugar ($4.33M), and Hard Liquor ($166k). Over the past 5 years the exports of Nicaragua to Colombia have increased at an annualized rate of 12.8%, from $9.84M in 2018 to $18M in 2023.

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

Colombia-Nicaragua Trade: In 2023, Colombia exported $64.2M to Nicaragua. The main products that Colombia exported to Nicaragua were Packaged Medicaments ($10.5M), Refrigerators ($4.88M), and Other Edible Preparations ($4.22M). Over the past 5 years the exports of Colombia to Nicaragua have decreased at an annualized rate of 7.34%, from $94M in 2018 to $64.2M in 2023.

In 2023, Colombia 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, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $18M to Colombia. The main products exported from Nicaragua to Colombia were Ground Nuts ($12.5M), Raw Sugar ($4.33M), and Hard Liquor ($166k). During the last 5 years the exports of Nicaragua to Colombia have increased at an annualized rate of 12.8%, from $9.84M in 2018 to $18M in 2023.

In 2018, Colombia exported $64.2M to Nicaragua. The main products exported from Colombia to Nicaragua were Packaged Medicaments ($10.5M), Refrigerators ($4.88M), and Other Edible Preparations ($4.22M). During the last 5 years the exports of Colombia to Nicaragua have decreased at an annualized rate of 7.34%, from $94M in 2023 to $64.2M in 2018.

Exports from Nicaragua () to Colombia () (2023)

Exports from Colombia () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Colombia ()

Nicaragua Exports

Date

Colombia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Colombia
Top DestinationUnited States$14.8B

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

In 2023, countries that imported more from Nicaragua than Colombia included El Salvador ($488M), Honduras ($297M), and Mauritania ($14.4M).

In 2023, countries that imported more from Colombia than Nicaragua included United States ($14.8B), Panama ($4.66B), and India ($2.51B).

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

Comparative Advantage Nicaragua - Colombia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Colombia in the exports of Vegetable Products ($12.5M), Foodstuffs ($4.7M), and Textiles ($277k).

During 2018, Colombia had a large net trade with Nicaragua in the exports of Chemical Products ($22.2M), Machines ($14.6M), and Foodstuffs ($7.48M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Colombia+$2.27MRaw Sugar

Top Product Potential Colombia Nicaragua+$2.08MPackaged 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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Colombia () (2023)

Exports from Colombia () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Colombia ()

Nicaragua Exports

Colombia Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Colombia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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