Nicaragua (NIC) and Mexico (MEX) Trade | The Observatory of Economic Complexity

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Nicaragua-Mexico Trade: In 2023, Nicaragua exported $1.04B to Mexico. The main products that Nicaragua exported to Mexico were Insulated Wire ($667M), Bovine Meat ($123M), and Knit T-shirts ($68.9M). Over the past 5 years the exports of Nicaragua to Mexico have increased at an annualized rate of 28.5%, from $297M in 2018 to $1.04B in 2023.

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

Mexico-Nicaragua Trade: In 2023, Mexico exported $1.01B to Nicaragua. The main products that Mexico exported to Nicaragua were Insulated Wire ($161M), Other Plastic Products ($64.6M), and Heavy Pure Woven Cotton ($56.7M). Over the past 5 years the exports of Mexico to Nicaragua have increased at an annualized rate of 3.45%, from $855M in 2018 to $1.01B in 2023.

In 2023, Mexico 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, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $1.04B to Mexico. The main products exported from Nicaragua to Mexico were Insulated Wire ($667M), Bovine Meat ($123M), and Knit T-shirts ($68.9M). During the last 5 years the exports of Nicaragua to Mexico have increased at an annualized rate of 28.5%, from $297M in 2018 to $1.04B in 2023.

In 2018, Mexico exported $1.01B to Nicaragua. The main products exported from Mexico to Nicaragua were Insulated Wire ($161M), Other Plastic Products ($64.6M), and Heavy Pure Woven Cotton ($56.7M). During the last 5 years the exports of Mexico to Nicaragua have increased at an annualized rate of 3.45%, from $855M in 2023 to $1.01B in 2018.

Exports from Nicaragua () to Mexico () (2023)

Exports from Mexico () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Mexico ()

Nicaragua Exports

Date

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Mexico
Top DestinationUnited States$456B

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

In 2023, countries that imported more from Nicaragua than Mexico included Haiti ($19M), Mauritania ($14.4M), and Republic of the Congo ($3.65M).

In 2023, countries that imported more from Mexico than Nicaragua included United States ($456B), Canada ($33B), and China ($15B).

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

Comparative Advantage Nicaragua - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Mexico in the exports of Machines ($668M), Animal Products ($186M), and Textiles ($79.9M).

During 2018, Mexico had a large net trade with Nicaragua in the exports of Machines ($271M), Chemical Products ($151M), and Foodstuffs ($143M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Mexico+$11.9MKnit T-shirts

Top Product Potential Mexico Nicaragua+$10.6MRefined 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 Nicaragua and Mexico. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Mexico. Similarly, a dot/product with the flag of Mexico indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Mexico () (2023)

Exports from Mexico () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Mexico ()

Nicaragua Exports

Mexico Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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