Nicaragua (NIC) and Ecuador (ECU) Trade | The Observatory of Economic Complexity

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Nicaragua-Ecuador Trade: In 2023, Nicaragua exported $36.7M to Ecuador. The main products that Nicaragua exported to Ecuador were Non-fillet Frozen Fish ($28.1M), Scrap Iron ($5.83M), and Hard Liquor ($483k). Over the past 5 years the exports of Nicaragua to Ecuador have increased at an annualized rate of 29.9%, from $9.94M in 2018 to $36.7M in 2023.

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

Ecuador-Nicaragua Trade: In 2023, Ecuador exported $204M to Nicaragua. The main products that Ecuador exported to Nicaragua were Refined Petroleum ($139M), Raw Tobacco ($35.4M), and Crustaceans ($7.73M). Over the past 5 years the exports of Ecuador to Nicaragua have increased at an annualized rate of 35.9%, from $44.1M in 2018 to $204M in 2023.

In 2023, Ecuador 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, Ecuador ranked 104 in the Economic Complexity Index (ECI -0.85), and 65 in total exports ($37.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $36.7M to Ecuador. The main products exported from Nicaragua to Ecuador were Non-fillet Frozen Fish ($28.1M), Scrap Iron ($5.83M), and Hard Liquor ($483k). During the last 5 years the exports of Nicaragua to Ecuador have increased at an annualized rate of 29.9%, from $9.94M in 2018 to $36.7M in 2023.

In 2018, Ecuador exported $204M to Nicaragua. The main products exported from Ecuador to Nicaragua were Refined Petroleum ($139M), Raw Tobacco ($35.4M), and Crustaceans ($7.73M). During the last 5 years the exports of Ecuador to Nicaragua have increased at an annualized rate of 35.9%, from $44.1M in 2023 to $204M in 2018.

Exports from Nicaragua () to Ecuador () (2023)

Exports from Ecuador () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Ecuador ()

Nicaragua Exports

Date

Ecuador Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Ecuador
Top DestinationUnited States$8.34B

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

In 2023, countries that imported more from Nicaragua than Ecuador included Mexico ($1.04B), El Salvador ($488M), and Honduras ($297M).

In 2023, countries that imported more from Ecuador than Nicaragua included China ($7.96B), Panama ($4.38B), and United States ($8.34B).

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

Comparative Advantage Nicaragua - Ecuador

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Ecuador in the exports of Animal Products ($28.3M), Metals ($6.04M), and Chemical Products ($704k).

During 2018, Ecuador had a large net trade with Nicaragua in the exports of Mineral Products ($146M), Foodstuffs ($36.8M), and Animal Products ($8.03M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Ecuador+$243kHard Liquor

Top Product Potential Ecuador Nicaragua+$502kProcessed Fish

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

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Ecuador () (2023)

Exports from Ecuador () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Ecuador ()

Nicaragua Exports

Ecuador Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Ecuador

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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