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

About

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.

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.

Comparison: In 2023, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B). That same year, Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, 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 2018 to $64.2M in 2023.

In 2018, 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 2023 to $18M in 2018.

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

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

Latest Data

Trade between Colombia () and Nicaragua ()

Colombia Exports

Date

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Colombia
Top DestinationUnited States$14.8B

Nicaragua
Top DestinationUnited States$4.38B

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

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

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

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

Comparative Advantage Colombia - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Colombia had a large net trade with Nicaragua in the exports of Chemical Products ($22.2M), Machines ($14.6M), and Foodstuffs ($7.48M).

During 2018, Nicaragua had a large net trade with Colombia in the exports of Vegetable Products ($12.5M), Foodstuffs ($4.7M), and Textiles ($277k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Colombia Nicaragua+$2.08MPackaged Medicaments

Top Product Potential Nicaragua Colombia+$2.27MRaw Sugar

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Colombia () and Nicaragua ()

Colombia Exports

Nicaragua Exports

Market Competitiveness

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

Comparative Advantage Colombia - Nicaragua

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring