Nicaragua (NIC) and Spain (ESP) Trade | The Observatory of Economic Complexity

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Nicaragua-Spain Trade: In 2022, Nicaragua exported $157M to Spain. The main products that Nicaragua exported to Spain were Petroleum Gas ($97.6M), Crustaceans ($29.6M), and Coffee ($17.2M). Over the past 5 years the exports of Nicaragua to Spain have increased at an annualized rate of 20.9%, from $60.8M in 2017 to $157M in 2022.

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

Spain-Nicaragua Trade: In 2022, Spain exported $74.4M to Nicaragua. The main products that Spain exported to Nicaragua were Packaged Medicaments ($8.62M), Iron Structures ($3.05M), and Mixed Mineral or Chemical Fertilizers ($2.41M). Over the past 5 years the exports of Spain to Nicaragua have increased at an annualized rate of 0.075%, from $74.2M in 2017 to $74.4M in 2022.

In 2022, Spain 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, Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Nicaragua exported $157M to Spain. The main products exported from Nicaragua to Spain were Petroleum Gas ($97.6M), Crustaceans ($29.6M), and Coffee ($17.2M). During the last 5 years the exports of Nicaragua to Spain have increased at an annualized rate of 20.9%, from $60.8M in 2017 to $157M in 2022.

In 2017, Spain exported $74.4M to Nicaragua. The main products exported from Spain to Nicaragua were Packaged Medicaments ($8.62M), Iron Structures ($3.05M), and Mixed Mineral or Chemical Fertilizers ($2.41M). During the last 5 years the exports of Spain to Nicaragua have increased at an annualized rate of 0.075%, from $74.2M in 2022 to $74.4M in 2017.

Exports from Nicaragua () to Spain () (2022)

Exports from Spain () to Nicaragua () (2022)

Latest Data

Trade between Nicaragua () and Spain ()

Nicaragua Exports

Date

Spain Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.09B

Spain
Top DestinationFrance$65.2B

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

In 2022, countries that imported more from Nicaragua than Spain included Honduras ($541M), El Salvador ($437M), and Haiti ($17.8M).

In 2022, countries that imported more from Spain than Nicaragua included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

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

Comparative Advantage Nicaragua - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Nicaragua had a large net trade with Spain in the exports of Mineral Products ($97.9M), Animal Products ($29.7M), and Vegetable Products ($20.2M).

During 2017, Spain had a large net trade with Nicaragua in the exports of Chemical Products ($19M), Machines ($14.5M), and Metals ($8.64M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Spain+$9.95MCoffee

Top Product Potential Spain Nicaragua+$5.55MPackaged 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 Spain. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Spain. Similarly, a dot/product with the flag of Spain indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Spain () (2022)

Exports from Spain () to Nicaragua () (2022)

Latest Data

Trade between Nicaragua () and Spain ()

Nicaragua Exports

Spain Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Spain

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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