Finland (FIN) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Finland-Nicaragua Trade: In 2022, Finland exported $1.23M to Nicaragua. The main products that Finland exported to Nicaragua were Interchangeable Tool Parts ($365k), X-Ray Equipment ($169k), and Electrical Transformers ($114k). Over the past 5 years the exports of Finland to Nicaragua have decreased at an annualized rate of 12%, from $2.34M in 2017 to $1.23M in 2022.

In 2022, Finland did not export any services to Nicaragua.

Nicaragua-Finland Trade: In 2022, Nicaragua exported $6.51M to Finland. The main products that Nicaragua exported to Finland were Coffee ($6.36M), Knit T-shirts ($31k), and Medical Instruments ($24.9k). Over the past 5 years the exports of Nicaragua to Finland have decreased at an annualized rate of 4.26%, from $8.09M in 2017 to $6.51M in 2022.

In 2022, Nicaragua did not export any services to Finland.

Comparison: In 2022, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B). That same year, Nicaragua ranked 110 in the Economic Complexity Index (ECI -0.97), and 111 in total exports ($7.92B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Finland exported $1.23M to Nicaragua. The main products exported from Finland to Nicaragua were Interchangeable Tool Parts ($365k), X-Ray Equipment ($169k), and Electrical Transformers ($114k). During the last 5 years the exports of Finland to Nicaragua have decreased at an annualized rate of 12%, from $2.34M in 2017 to $1.23M in 2022.

In 2017, Nicaragua exported $6.51M to Finland. The main products exported from Nicaragua to Finland were Coffee ($6.36M), Knit T-shirts ($31k), and Medical Instruments ($24.9k). During the last 5 years the exports of Nicaragua to Finland have decreased at an annualized rate of 4.26%, from $8.09M in 2022 to $6.51M in 2017.

Exports from Finland () to Nicaragua () (2022)

Exports from Nicaragua () to Finland () (2022)

Latest Data

Trade between Finland () and Nicaragua ()

Finland Exports

Date

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationGermany$9.99B

Nicaragua
Top DestinationUnited States$4.09B

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

In 2022, countries that imported more from Finland than Nicaragua included Germany ($9.99B), Sweden ($9.1B), and Netherlands ($5.88B).

In 2022, countries that imported more from Nicaragua than Finland included Honduras ($541M), El Salvador ($437M), and Mexico ($943M).

Difference in imports from Nicaragua () and Finland () (2022)

Comparative Advantage Finland - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Finland had a large net trade with Nicaragua in the exports of Metals ($376k), Machines ($310k), and Instruments ($263k).

During 2017, Nicaragua had a large net trade with Finland in the exports of Vegetable Products ($6.37M), Textiles ($86.9k), and Instruments ($25.5k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Nicaragua+$213kInsulated Wire

Top Product Potential Nicaragua Finland+$2.03MCoffee

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

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Nicaragua () (2022)

Exports from Nicaragua () to Finland () (2022)

Latest Data

Trade between Finland () and Nicaragua ()

Finland Exports

Nicaragua Exports

Market Competitiveness

Difference in imports from Nicaragua () and Finland () (2022)

Comparative Advantage Finland - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Finland () and Nicaragua () (2022)

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