Denmark (DNK) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Denmark-Nicaragua Trade: In 2023, Denmark exported $15.9M to Nicaragua. The main products that Denmark exported to Nicaragua were Other Edible Preparations ($2.32M), Malt ($2.2M), and Refrigerators ($1.51M). Over the past 5 years the exports of Denmark to Nicaragua have increased at an annualized rate of 16.9%, from $7.3M in 2018 to $15.9M in 2023.

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

Nicaragua-Denmark Trade: In 2023, Nicaragua exported $2.21M to Denmark. The main products that Nicaragua exported to Denmark were Coffee ($1.92M), Gravel and Crushed Stone ($90.7k), and Cocoa Beans ($81.3k). Over the past 5 years the exports of Nicaragua to Denmark have increased at an annualized rate of 3.98%, from $1.82M in 2018 to $2.21M in 2023.

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

Comparison: In 2023, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B). 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, Denmark exported $15.9M to Nicaragua. The main products exported from Denmark to Nicaragua were Other Edible Preparations ($2.32M), Malt ($2.2M), and Refrigerators ($1.51M). During the last 5 years the exports of Denmark to Nicaragua have increased at an annualized rate of 16.9%, from $7.3M in 2018 to $15.9M in 2023.

In 2018, Nicaragua exported $2.21M to Denmark. The main products exported from Nicaragua to Denmark were Coffee ($1.92M), Gravel and Crushed Stone ($90.7k), and Cocoa Beans ($81.3k). During the last 5 years the exports of Nicaragua to Denmark have increased at an annualized rate of 3.98%, from $1.82M in 2023 to $2.21M in 2018.

Exports from Denmark () to Nicaragua () (2023)

Exports from Nicaragua () to Denmark () (2023)

Latest Data

Trade between Denmark () and Nicaragua ()

Denmark Exports

Date

Nicaragua Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Denmark
Top DestinationGermany$14.8B

Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Denmark than Nicaragua included Germany ($14.8B), Sweden ($11.2B), and Netherlands ($7.89B).

In 2023, countries that imported more from Nicaragua than Denmark included El Salvador ($488M), Mexico ($1.04B), and Honduras ($297M).

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

Comparative Advantage Denmark - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Denmark had a large net trade with Nicaragua in the exports of Machines ($4.96M), Foodstuffs ($2.95M), and Chemical Products ($2.63M).

During 2018, Nicaragua had a large net trade with Denmark in the exports of Vegetable Products ($1.92M), Foodstuffs ($113k), and Mineral Products ($90.7k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Denmark Nicaragua+$2.24MPackaged Medicaments

Top Product Potential Nicaragua Denmark+$2.04MCoffee

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 Denmark and Nicaragua. This means that a dot/product with the flag of Denmark indicates it has a comparative advantage over Nicaragua. Similarly, a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Denmark.

About

Historical Data

Bilateral Trade by Products

Exports from Denmark () to Nicaragua () (2023)

Exports from Nicaragua () to Denmark () (2023)

Latest Data

Trade between Denmark () and Nicaragua ()

Denmark Exports

Nicaragua Exports

Market Competitiveness

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

Comparative Advantage Denmark - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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