Nicaragua (NIC) and Chile (CHL) Trade | The Observatory of Economic Complexity

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Nicaragua-Chile Trade: In 2023, Nicaragua exported $5.84M to Chile. The main products that Nicaragua exported to Chile were Raw Sugar ($3.6M), Knit Sweaters ($414k), and Hard Liquor ($382k). Over the past 5 years the exports of Nicaragua to Chile have increased at an annualized rate of 1.05%, from $5.54M in 2018 to $5.84M in 2023.

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

Chile-Nicaragua Trade: In 2023, Chile exported $44M to Nicaragua. The main products that Chile exported to Nicaragua were Processed Cereals ($6.82M), Malt Extract ($5.19M), and Aluminium Foil ($3.29M). Over the past 5 years the exports of Chile to Nicaragua have increased at an annualized rate of 0.96%, from $41.9M in 2018 to $44M in 2023.

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

Comparison: In 2023, Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B). That same year, Chile ranked 72 in the Economic Complexity Index (ECI -0.2), and 43 in total exports ($98.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $5.84M to Chile. The main products exported from Nicaragua to Chile were Raw Sugar ($3.6M), Knit Sweaters ($414k), and Hard Liquor ($382k). During the last 5 years the exports of Nicaragua to Chile have increased at an annualized rate of 1.05%, from $5.54M in 2018 to $5.84M in 2023.

In 2018, Chile exported $44M to Nicaragua. The main products exported from Chile to Nicaragua were Processed Cereals ($6.82M), Malt Extract ($5.19M), and Aluminium Foil ($3.29M). During the last 5 years the exports of Chile to Nicaragua have increased at an annualized rate of 0.96%, from $41.9M in 2023 to $44M in 2018.

Exports from Nicaragua () to Chile () (2023)

Exports from Chile () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Chile ()

Nicaragua Exports

Date

Chile Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Chile
Top DestinationChina$38.2B

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

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

In 2023, countries that imported more from Chile than Nicaragua included China ($38.2B), United States ($15.7B), and Japan ($7.1B).

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

Comparative Advantage Nicaragua - Chile

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Chile in the exports of Foodstuffs ($3.99M), Textiles ($1.08M), and Vegetable Products ($297k).

During 2018, Chile had a large net trade with Nicaragua in the exports of Vegetable Products ($10.1M), Foodstuffs ($9.02M), and Chemical Products ($6.7M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Chile+$1.36MRaw Sugar

Top Product Potential Chile Nicaragua+$837kPackaged 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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Chile () (2023)

Exports from Chile () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Chile ()

Nicaragua Exports

Chile Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Chile

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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