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

About

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.

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.

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

Latest Trends

November, 2024

About

Overview In November 2024, Canada exported C$2.51M and imported C$105M from Nicaragua, resulting in a negative trade balance of C$103M. Between November 2023 and November 2024 the exports of Canada have decreased by C$-3.64M (-59.2%) from C$6.15M to C$2.51M, while imports increased by C$31.1M (42.1%) from C$73.9M to C$105M.

Trade In November 2024, the top exports of Canada to Nicaragua were Used Clothing (C$1.37M), Interchangeable Tool Parts (C$246k), Leather Footwear (C$198k), Peat (C$126k), and Textile Scraps (C$52.1k). In November 2024 the top imports of Canada from Nicaragua were Knit T-shirts (C$3.97M), Coffee (C$1.95M), Knit Sweaters (C$1.87M), Other Vegetables (C$1.05M), and Non-Knit Men's Suits (C$977k).

Origins In November 2024 the exports of Canada were mainly from Ontario (C$2.01M), British Columbia (C$263k), Quebec (C$81.2k), New Brunswick (C$57.4k), and Alberta (C$40.4k), while imports destinations were mainly Ontario (C$103M), British Columbia (C$816k), Quebec (C$810k), Alberta (C$387k), and Manitoba (C$53.9k).

Growth In November 2024, the decrease in Canada's year-by-year exports to Nicaragua was explained primarily by an decrease in product exports in Stone Processing Machines (C$-156k or -88.4%), Other Footwear (C$-79.7k or -96%), and Textile Scraps (C$-48.8k or -48.4%). In November 2024, the increase in Canada's year-by-year imports  from Nicaragua was explained primarily by an increase in product imports  in Knit T-shirts (C$2.34M or 144%), Knit Sweaters (C$1.04M or 125%), and Knit Men's Suits (C$189k or 97.7%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)C$-3.64M(-59.2%)
IMPORT GROWTH (November 2023 - November 2024)C$31.1M(42.1%)
MAIN EXPORTER (November 2024)OntarioC$2.01M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Nicaragua and Canada trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Nicaragua and Canada Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $133M in 2023.

In 2018, 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 2023 to $476M in 2018.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage Canada - Nicaragua

Flow
Scale

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

During 2023, Canada had a large net trade with Nicaragua in the exports of Vegetable Products ($65M), Chemical Products ($20.6M), and Textiles ($13.4M).

During 2018, Nicaragua had a large net trade with Canada in the exports of Precious Metals ($361M), Textiles ($42.3M), and Vegetable Products ($40M).

Potential Exports

Potential Exports

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

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

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

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

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