Nicaragua (NIC) and Peru (PER) Trade | The Observatory of Economic Complexity

About

Nicaragua-Peru Trade: In 2023, Nicaragua exported $27.3M to Peru. The main products that Nicaragua exported to Peru were Raw Sugar ($20.5M), Hard Liquor ($4.46M), and Vaccines, blood, antisera, toxins and cultures ($542k). Over the past 5 years the exports of Nicaragua to Peru have increased at an annualized rate of 36.9%, from $5.68M in 2018 to $27.3M in 2023.

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

Peru-Nicaragua Trade: In 2023, Peru exported $39.7M to Nicaragua. The main products that Peru exported to Nicaragua were Baked Goods ($7.23M), Packaged Medicaments ($3.67M), and Sodium or Potassium Peroxides ($3.09M). Over the past 5 years the exports of Peru to Nicaragua have decreased at an annualized rate of 4.26%, from $58.8M in 2018 to $39.7M in 2023.

In 2023, Peru 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, Peru ranked 90 in the Economic Complexity Index (ECI -0.61), and 51 in total exports ($66.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $27.3M to Peru. The main products exported from Nicaragua to Peru were Raw Sugar ($20.5M), Hard Liquor ($4.46M), and Vaccines, blood, antisera, toxins and cultures ($542k). During the last 5 years the exports of Nicaragua to Peru have increased at an annualized rate of 36.9%, from $5.68M in 2018 to $27.3M in 2023.

In 2018, Peru exported $39.7M to Nicaragua. The main products exported from Peru to Nicaragua were Baked Goods ($7.23M), Packaged Medicaments ($3.67M), and Sodium or Potassium Peroxides ($3.09M). During the last 5 years the exports of Peru to Nicaragua have decreased at an annualized rate of 4.26%, from $58.8M in 2023 to $39.7M in 2018.

Exports from Nicaragua () to Peru () (2023)

Exports from Peru () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Peru ()

Nicaragua Exports

Date

Peru Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Peru
Top DestinationChina$22.5B

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

In 2023, countries that imported more from Nicaragua than Peru included El Salvador ($488M), Honduras ($297M), and Costa Rica ($246M).

In 2023, countries that imported more from Peru than Nicaragua included China ($22.5B), United States ($9.3B), and Canada ($3.24B).

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

Comparative Advantage Nicaragua - Peru

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Peru in the exports of Foodstuffs ($25M), Chemical Products ($919k), and Animal Products ($532k).

During 2018, Peru had a large net trade with Nicaragua in the exports of Chemical Products ($12.6M), Foodstuffs ($9.02M), and Machines ($4.99M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Peru+$465kVaccines, blood, antisera, toxins and cultures

Top Product Potential Peru Nicaragua+$621kPackaged 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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Nicaragua and Peru. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Peru. Similarly, a dot/product with the flag of Peru indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Peru () (2023)

Exports from Peru () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Peru ()

Nicaragua Exports

Peru Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Peru

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring