Guatemala (GTM) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Guatemala-Nicaragua Trade: In 2022, Guatemala exported $1B to Nicaragua. The main products that Guatemala exported to Nicaragua were Light Rubberized Knitted Fabric ($173M), Packaged Medicaments ($72.2M), and Plastic Lids ($41.8M). Over the past 5 years the exports of Guatemala to Nicaragua have increased at an annualized rate of 12.2%, from $563M in 2017 to $1B in 2022.

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

Nicaragua-Guatemala Trade: In 2022, Nicaragua exported $221M to Guatemala. The main products that Nicaragua exported to Guatemala were Flavored Water ($28.1M), Non-Retail Pure Cotton Yarn ($23.2M), and Frozen Bovine Meat ($22.7M). Over the past 5 years the exports of Nicaragua to Guatemala have increased at an annualized rate of 13.3%, from $119M in 2017 to $221M in 2022.

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

Comparison: In 2022, Guatemala ranked 76 in the Economic Complexity Index (ECI -0.2), and 84 in total exports ($16.4B). 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, Guatemala exported $1B to Nicaragua. The main products exported from Guatemala to Nicaragua were Light Rubberized Knitted Fabric ($173M), Packaged Medicaments ($72.2M), and Plastic Lids ($41.8M). During the last 5 years the exports of Guatemala to Nicaragua have increased at an annualized rate of 12.2%, from $563M in 2017 to $1B in 2022.

In 2017, Nicaragua exported $221M to Guatemala. The main products exported from Nicaragua to Guatemala were Flavored Water ($28.1M), Non-Retail Pure Cotton Yarn ($23.2M), and Frozen Bovine Meat ($22.7M). During the last 5 years the exports of Nicaragua to Guatemala have increased at an annualized rate of 13.3%, from $119M in 2022 to $221M in 2017.

Exports from Guatemala () to Nicaragua () (2022)

Exports from Nicaragua () to Guatemala () (2022)

Latest Data

Trade between Guatemala () and Nicaragua ()

Guatemala Exports

Date

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.23B

Nicaragua
Top DestinationUnited States$4.09B

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

In 2022, countries that imported more from Guatemala than Nicaragua included El Salvador ($2.03B), United States ($5.23B), and Honduras ($1.58B).

In 2022, countries that imported more from Nicaragua than Guatemala included Mexico ($943M), Switzerland ($118M), and Sweden ($25.4M).

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

Comparative Advantage Guatemala - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Guatemala had a large net trade with Nicaragua in the exports of Chemical Products ($251M), Textiles ($220M), and Foodstuffs ($147M).

During 2017, Nicaragua had a large net trade with Guatemala in the exports of Animal Products ($87.4M), Textiles ($42.4M), and Foodstuffs ($37.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Nicaragua+$3.58MKnit T-shirts

Top Product Potential Nicaragua Guatemala+$2.64MRefined Petroleum

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

About

Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Nicaragua () (2022)

Exports from Nicaragua () to Guatemala () (2022)

Latest Data

Trade between Guatemala () and Nicaragua ()

Guatemala Exports

Nicaragua Exports

Market Competitiveness

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

Comparative Advantage Guatemala - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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