Nicaragua (NIC) and Georgia (GEO) Trade | The Observatory of Economic Complexity

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Nicaragua-Georgia Trade: In 2022, Nicaragua exported $90k to Georgia. The main products that Nicaragua exported to Georgia were Coffee ($83.1k) and Rolled Tobacco ($6.91k). Over the past 8 years the exports of Nicaragua to Georgia have decreased at an annualized rate of 27.6%, from $1.19M in 2014 to $90k in 2022.

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

Georgia-Nicaragua Trade: In 2022, Georgia exported $212k to Nicaragua. The main products that Georgia exported to Nicaragua were Sewing Machines ($107k), Cyanides ($93.3k), and Other Agricultural Machinery ($8.98k). Over the past 8 years the exports of Georgia to Nicaragua have increased at an annualized rate of 95.9%, from $7.35k in 2014 to $212k in 2022.

In 2022, Georgia 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, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Nicaragua exported $90k to Georgia. The main products exported from Nicaragua to Georgia were Coffee ($83.1k) and Rolled Tobacco ($6.91k). During the last 8 years the exports of Nicaragua to Georgia have decreased at an annualized rate of 27.6%, from $1.19M in 2014 to $90k in 2022.

In 2017, Georgia exported $212k to Nicaragua. The main products exported from Georgia to Nicaragua were Sewing Machines ($107k), Cyanides ($93.3k), and Other Agricultural Machinery ($8.98k). During the last 5 years the exports of Georgia to Nicaragua have increased at an annualized rate of 95.9%, from $7.35k in 2022 to $212k in 2017.

Exports from Nicaragua () to Georgia () (2022)

Exports from Georgia () to Nicaragua () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.09B

Georgia
Top DestinationChina$759M

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

In 2022, countries that imported more from Nicaragua than Georgia included United States ($4.09B), Mexico ($943M), and Honduras ($541M).

In 2022, countries that imported more from Georgia than Nicaragua included China ($759M), Azerbaijan ($668M), and Russia ($642M).

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

Comparative Advantage Nicaragua - Georgia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Nicaragua had a large net trade with Georgia in the exports of Vegetable Products ($83.1k) and Foodstuffs ($6.91k).

During 2017, Georgia had a large net trade with Nicaragua in the exports of Machines ($117k), Chemical Products ($93.3k), and Mineral Products ($841).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Georgia+$167kCoffee

Top Product Potential Georgia Nicaragua+$13.2kCyanides

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

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Georgia () (2022)

Exports from Georgia () to Nicaragua () (2022)

Market Competitiveness

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

Comparative Advantage Nicaragua - Georgia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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