Nicaragua (NIC) and Denmark (DNK) Trade | The Observatory of Economic Complexity

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Nicaragua-Denmark Trade: In 2022, Nicaragua exported $4.01M to Denmark. The main products that Nicaragua exported to Denmark were Coffee ($1.88M), Molasses ($1.86M), and Honey ($82.4k). Over the past 5 years the exports of Nicaragua to Denmark have increased at an annualized rate of 26.1%, from $1.26M in 2017 to $4.01M in 2022.

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

Denmark-Nicaragua Trade: In 2022, Denmark exported $11.6M to Nicaragua. The main products that Denmark exported to Nicaragua were Other Edible Preparations ($1.96M), Packaged Medicaments ($1.37M), and Vitamins ($882k). Over the past 5 years the exports of Denmark to Nicaragua have increased at an annualized rate of 6.73%, from $8.4M in 2017 to $11.6M in 2022.

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

Comparison: In 2022, Nicaragua ranked 110 in the Economic Complexity Index (ECI -0.97), and 111 in total exports ($7.92B). That same year, Denmark ranked 27 in the Economic Complexity Index (ECI 1.01), and 37 in total exports ($122B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Nicaragua exported $4.01M to Denmark. The main products exported from Nicaragua to Denmark were Coffee ($1.88M), Molasses ($1.86M), and Honey ($82.4k). During the last 5 years the exports of Nicaragua to Denmark have increased at an annualized rate of 26.1%, from $1.26M in 2017 to $4.01M in 2022.

In 2017, Denmark exported $11.6M to Nicaragua. The main products exported from Denmark to Nicaragua were Other Edible Preparations ($1.96M), Packaged Medicaments ($1.37M), and Vitamins ($882k). During the last 5 years the exports of Denmark to Nicaragua have increased at an annualized rate of 6.73%, from $8.4M in 2022 to $11.6M in 2017.

Exports from Nicaragua () to Denmark () (2022)

Exports from Denmark () to Nicaragua () (2022)

Latest Data

Trade between Nicaragua () and Denmark ()

Nicaragua Exports

Date

Denmark Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.09B

Denmark
Top DestinationGermany$18.9B

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

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

In 2022, countries that imported more from Denmark than Nicaragua included Germany ($18.9B), Sweden ($11.6B), and United States ($13.1B).

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

Comparative Advantage Nicaragua - Denmark

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Nicaragua had a large net trade with Denmark in the exports of Foodstuffs ($1.94M), Vegetable Products ($1.89M), and Animal Products ($82.4k).

During 2017, Denmark had a large net trade with Nicaragua in the exports of Chemical Products ($3.34M), Machines ($3.13M), and Foodstuffs ($2.42M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Denmark+$2.04MCoffee

Top Product Potential Denmark Nicaragua+$2.24MPackaged 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 Denmark. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Denmark. Similarly, a dot/product with the flag of Denmark indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Denmark () (2022)

Exports from Denmark () to Nicaragua () (2022)

Latest Data

Trade between Nicaragua () and Denmark ()

Nicaragua Exports

Denmark Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Denmark

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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