Nicaragua (NIC) and India (IND) Trade | The Observatory of Economic Complexity

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Nicaragua-India Trade: In 2023, Nicaragua exported $17.7M to India. The main products that Nicaragua exported to India were Scrap Iron ($10.9M), Rough Wood ($3.45M), and Sawn Wood ($1.29M). Over the past 5 years the exports of Nicaragua to India have increased at an annualized rate of 32.9%, from $4.27M in 2018 to $17.7M in 2023.

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

India-Nicaragua Trade: In 2023, India exported $372M to Nicaragua. The main products that India exported to Nicaragua were Knit T-shirts ($73.6M), Packaged Medicaments ($64M), and Other Non-Knit Clothing Accessories ($46.1M). Over the past 5 years the exports of India to Nicaragua have increased at an annualized rate of 24.5%, from $124M in 2018 to $372M in 2023.

In 2023, India 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, India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $17.7M to India. The main products exported from Nicaragua to India were Scrap Iron ($10.9M), Rough Wood ($3.45M), and Sawn Wood ($1.29M). During the last 5 years the exports of Nicaragua to India have increased at an annualized rate of 32.9%, from $4.27M in 2018 to $17.7M in 2023.

In 2018, India exported $372M to Nicaragua. The main products exported from India to Nicaragua were Knit T-shirts ($73.6M), Packaged Medicaments ($64M), and Other Non-Knit Clothing Accessories ($46.1M). During the last 5 years the exports of India to Nicaragua have increased at an annualized rate of 24.5%, from $124M in 2023 to $372M in 2018.

Exports from Nicaragua () to India () (2023)

Exports from India () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and India ()

Nicaragua Exports

Date

India Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

India
Top DestinationUnited States$85.5B

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

In 2023, countries that imported more from Nicaragua than India included El Salvador ($488M), Honduras ($297M), and Saint Martin ($295k).

In 2023, countries that imported more from India than Nicaragua included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

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

Comparative Advantage Nicaragua - India

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with India in the exports of Metals ($11.9M), Wood Products ($4.74M), and Paper Goods ($472k).

During 2018, India had a large net trade with Nicaragua in the exports of Textiles ($173M), Chemical Products ($78.4M), and Transportation ($55.7M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua India+$3.52MScrap Iron

Top Product Potential India Nicaragua+$9.78MPackaged 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 India. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over India. Similarly, a dot/product with the flag of India indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to India () (2023)

Exports from India () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and India ()

Nicaragua Exports

India Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - India

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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