Iran (IRN) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Iran-Nicaragua Trade: In 2023, Iran exported $30k to Nicaragua. The main products that Iran exported to Nicaragua were Centrifuges ($24.4k), Electric Heaters ($4.06k), and Spices ($727). Over the past 5 years the exports of Iran to Nicaragua have increased at an annualized rate of 41.6%, from $5.28k in 2018 to $30k in 2023.

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

Nicaragua-Iran Trade: In 2023, Nicaragua exported $111k to Iran. The main products that Nicaragua exported to Iran were N/A. Over the past 5 years the exports of Nicaragua to Iran have increased at an annualized rate of 7.93%, from $56k in 2018 to $111k in 2023.

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

Comparison: In 2023, Iran ranked 58 in the Economic Complexity Index (ECI 0.084), and 92 in total exports ($13.2B). 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, Iran exported $30k to Nicaragua. The main products exported from Iran to Nicaragua were Centrifuges ($24.4k), Electric Heaters ($4.06k), and Spices ($727). During the last 5 years the exports of Iran to Nicaragua have increased at an annualized rate of 41.6%, from $5.28k in 2018 to $30k in 2023.

In 2017, Nicaragua exported $111k to Iran. There were not main exports from Nicaragua to Iran in 2017. During the last 5 years the exports of Nicaragua to Iran have increased at an annualized rate of 7.93%, from $56k in 2022 to $111k in 2017.

Exports from Iran () to Nicaragua () (2023)

Exports from Nicaragua () to Iran () (2023)

Latest Data

Trade between Iran () and Nicaragua ()

Nicaragua Exports

Date

Mar 2016

Jul 2011

Oct 2010

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iran
Top DestinationChina$4.59B

Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Iran than Nicaragua included China ($4.59B), Turkey ($2.18B), and India ($1.02B).

In 2023, countries that imported more from Nicaragua than Iran included United States ($4.38B), Mexico ($1.04B), and El Salvador ($488M).

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

Comparative Advantage Iran - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iran had a large net trade with Nicaragua in the exports of Machines ($28.5k), Vegetable Products ($727), and Chemical Products ($612).

During 2017, Nicaragua had a large net trade with Iran in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Iran Nicaragua+$101kPackaged Medicaments

Top Product Potential Nicaragua Iran+$280kCoffee

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

About

Historical Data

Bilateral Trade by Products

Exports from Iran () to Nicaragua () (2023)

Exports from Nicaragua () to Iran () (2023)

Latest Data

Trade between Iran () and Nicaragua ()

Nicaragua Exports

Market Competitiveness

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

Comparative Advantage Iran - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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