Nicaragua (NIC) and Canada (CAN) Trade | The Observatory of Economic Complexity

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Nicaragua-Canada Trade: In 2022, Nicaragua exported $54.8M to Canada. The main products that Nicaragua exported to Canada were Coffee ($26.9M), Rolled Tobacco ($4.11M), and Other Oily Seeds ($4M). Over the past 5 years the exports of Nicaragua to Canada have decreased at an annualized rate of 3.33%, from $64.9M in 2017 to $54.8M in 2022.

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

Canada-Nicaragua Trade: In 2022, Canada exported $111M to Nicaragua. The main products that Canada exported to Nicaragua were Wheat ($57.3M), Used Clothing ($15.7M), and Potassic Fertilizers ($6.73M). Over the past 5 years the exports of Canada to Nicaragua have increased at an annualized rate of 10.4%, from $50.3M in 2017 to $111M in 2022.

In 2020, Canada exported services to Nicaragua worth $2.98M, with Travel ($2.98M) being the largest in terms of value.

Comparison: In 2022, Nicaragua ranked 110 in the Economic Complexity Index (ECI -0.97), and 111 in total exports ($7.92B). That same year, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Nicaragua exported $54.8M to Canada. The main products exported from Nicaragua to Canada were Coffee ($26.9M), Rolled Tobacco ($4.11M), and Other Oily Seeds ($4M). During the last 5 years the exports of Nicaragua to Canada have decreased at an annualized rate of 3.33%, from $64.9M in 2017 to $54.8M in 2022.

In 2017, Canada exported $111M to Nicaragua. The main products exported from Canada to Nicaragua were Wheat ($57.3M), Used Clothing ($15.7M), and Potassic Fertilizers ($6.73M). During the last 5 years the exports of Canada to Nicaragua have increased at an annualized rate of 10.4%, from $50.3M in 2022 to $111M in 2017.

Exports from Nicaragua () to Canada () (2022)

Exports from Canada () to Nicaragua () (2022)

Latest Data

Trade between Nicaragua () and Canada ()

Nicaragua Exports

Date

Canada Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.09B

Canada
Top DestinationUnited States$438B

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

In 2022, countries that imported more from Nicaragua than Canada included Honduras ($541M), El Salvador ($437M), and North Korea ($36.2k).

In 2022, countries that imported more from Canada than Nicaragua included United States ($438B), China ($25.4B), and Japan ($14.3B).

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

Comparative Advantage Nicaragua - Canada

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Nicaragua had a large net trade with Canada in the exports of Vegetable Products ($34.6M), Textiles ($9.41M), and Foodstuffs ($8.29M).

During 2017, Canada had a large net trade with Nicaragua in the exports of Vegetable Products ($58M), Textiles ($17.9M), and Metals ($9.91M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Canada+$12.5MCoffee

Top Product Potential Canada Nicaragua+$2.18MPackaged Medicaments

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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Bilateral Service Trade

Can Year

In 2020, Canada exported services to Nicaragua worth $2.98M, with Travel ($2.98M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Nicaragua () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Nicaragua and Canada. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Canada. Similarly, a dot/product with the flag of Canada indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Canada () (2022)

Exports from Canada () to Nicaragua () (2022)

Latest Data

Trade between Nicaragua () and Canada ()

Nicaragua Exports

Canada Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Canada

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Canada () to Nicaragua () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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