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2023
Flag → Flag
Exports $96.9MRnk 115 / 220
2023
Flag → Flag
Top Product $36.6MPackaged Medicaments
2023
Flag → Flag
Exports $53.5MRnk 15 / 149
2023
Flag → Flag
Top Product $21.2MCrustaceans
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag
Economic Complexity (ECI) ECI -1Rnk 111 / 132
2023
Flag  
GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
Flag
 GDP$17.8BCURRENT US$
Rnk 127 / 195
2013-2023
Flag
GDP GROWTH62.3%CURRENT US$
Rnk 48 / 195
2023
Flag
GDP PC $33,509CURRENT US$
Rnk 40 / 195
2013-2023
Flag
GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195
2023
Flag
GDP PC$2,613CURRENT US$
Rnk 145 / 196
2013-2023
Flag
GDP PC GROWTH42.4%CURRENT US$
Rnk 58 / 195

About

Spain-Nicaragua Trade: In 2023, Spain exported $96.9M to Nicaragua. The main products that Spain exported to Nicaragua were Packaged Medicaments ($36.6M), Other Edible Preparations ($4.42M), and Pure Olive Oil ($3.74M). Over the past 5 years the exports of Spain to Nicaragua have increased at an annualized rate of 5.77%, from $73.2M in 2018 to $96.9M in 2023.

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

Nicaragua-Spain Trade: In 2023, Nicaragua exported $53.5M to Spain. The main products that Nicaragua exported to Spain were Crustaceans ($21.2M), Coffee ($13.3M), and Rolled Tobacco ($6.28M). Over the past 5 years the exports of Nicaragua to Spain have decreased at an annualized rate of 2.04%,  from $61.8M in 2018 to $53.5M in 2023.

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

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). 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, Spain exported €3.77M and imported €4.45M from Nicaragua, resulting in a negative trade balance of €673k. Between November 2023 and November 2024 the exports of Spain have decreased by €-1.16M (-23.5%) from €4.94M to €3.77M, while imports increased by €1.11M (33.4%) from €3.33M to €4.45M.

Trade In November 2024, the top exports of Spain to Nicaragua were Aluminium Structures (€361k), Packaged Medicaments (€255k), Unglazed Ceramics (€253k), Centrifuges (€210k), and Mixed Mineral or Chemical Fertilizers (€172k). In November 2024 the top imports of Spain from Nicaragua were Crustaceans (€2.47M), Coffee (€982k), Rolled Tobacco (€434k), Hard Liquor (€117k), and Textile Scraps (€105k).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€587k), Madrid (€501k), Toledo (€451k), Sevilla (€372k), and Guipúzcoa (€241k), while imports destinations were mainly Pontevedra (€1.55M), Valencia (€1.42M), Toledo (€817k), Barcelona (€220k), and Madrid (€196k).

Growth In November 2024, the decrease in Spain's year-by-year exports to Nicaragua was explained primarily by an decrease in product exports in Other Heating Machinery (€-275k or -93.7%), Insulated Wire (€-223k or -96.1%), and Other Edible Preparations (€-110k or -85.1%). In November 2024, the increase in Spain's year-by-year imports  from Nicaragua was explained primarily by an increase in product imports  in Crustaceans (€1.45M or 142%), Coffee (€389k or 65.6%), and Rolled Tobacco (€347k or 401%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-1.16M(-23.5%)
IMPORT GROWTH (November 2023 - November 2024)€1.11M(33.4%)
MAIN EXPORTER (November 2024)Barcelona€587k

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

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

For full datasets download visit Bulk Download page.

Explore Nicaragua and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $96.9M to Nicaragua. The main products exported from Spain to Nicaragua were Packaged Medicaments ($36.6M), Other Edible Preparations ($4.42M), and Pure Olive Oil ($3.74M). During the last 5 years the exports of Spain to Nicaragua have increased at an annualized rate of 5.77%, from $73.2M in 2018 to $96.9M in 2023.

In 2018, Nicaragua exported $53.5M to Spain. The main products exported from Nicaragua to Spain were Crustaceans ($21.2M), Coffee ($13.3M), and Rolled Tobacco ($6.28M). During the last 5 years the exports of Nicaragua to Spain have decreased at an annualized rate of 2.04%, from $61.8M in 2023 to $53.5M in 2018.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Spain than Nicaragua included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

In 2023, countries that imported more from Nicaragua than Spain included El Salvador ($488M), Honduras ($297M), and Haiti ($19M).

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

Comparative Advantage Spain - Nicaragua

Flow
Scale

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

During 2023, Spain had a large net trade with Nicaragua in the exports of Chemical Products ($47.7M), Machines ($15M), and Foodstuffs ($7.93M).

During 2018, Nicaragua had a large net trade with Spain in the exports of Animal Products ($21.3M), Vegetable Products ($18.8M), and Foodstuffs ($9.65M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Nicaragua+$5.55MPackaged Medicaments
Top Product Potential Nicaragua Spain+$9.95MCoffee

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

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

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