Nicaragua (NIC) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

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Nicaragua-Paraguay Trade: In 2023, Nicaragua exported $194k to Paraguay. The main products that Nicaragua exported to Paraguay were Rolled Tobacco ($51k), Hard Liquor ($43.7k), and Knit Men's Suits ($25.9k). Over the past 5 years the exports of Nicaragua to Paraguay have increased at an annualized rate of 4.3%, from $157k in 2018 to $194k in 2023.

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

Paraguay-Nicaragua Trade: In 2023, Paraguay exported $1.08M to Nicaragua. The main products that Paraguay exported to Nicaragua were Packaged Medicaments ($690k), Starches ($130k), and Pesticides ($85k). Over the past 5 years the exports of Paraguay to Nicaragua have increased at an annualized rate of 0.069%, from $1.08M in 2018 to $1.08M in 2023.

In 2023, Paraguay 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, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Nicaragua exported $194k to Paraguay. The main products exported from Nicaragua to Paraguay were Rolled Tobacco ($51k), Hard Liquor ($43.7k), and Knit Men's Suits ($25.9k). During the last 5 years the exports of Nicaragua to Paraguay have increased at an annualized rate of 4.3%, from $157k in 2018 to $194k in 2023.

In 2018, Paraguay exported $1.08M to Nicaragua. The main products exported from Paraguay to Nicaragua were Packaged Medicaments ($690k), Starches ($130k), and Pesticides ($85k). During the last 5 years the exports of Paraguay to Nicaragua have increased at an annualized rate of 0.069%, from $1.08M in 2023 to $1.08M in 2018.

Exports from Nicaragua () to Paraguay () (2023)

Exports from Paraguay () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Paraguay ()

Nicaragua Exports

Date

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nicaragua
Top DestinationUnited States$4.38B

Paraguay
Top DestinationArgentina$4B

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

In 2023, countries that imported more from Nicaragua than Paraguay included United States ($4.38B), Mexico ($1.04B), and El Salvador ($488M).

In 2023, countries that imported more from Paraguay than Nicaragua included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

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

Comparative Advantage Nicaragua - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Nicaragua had a large net trade with Paraguay in the exports of Foodstuffs ($94.8k), Textiles ($72.5k), and Paper Goods ($7.58k).

During 2018, Paraguay had a large net trade with Nicaragua in the exports of Chemical Products ($799k), Vegetable Products ($130k), and Textiles ($76.5k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Nicaragua Paraguay+$62.3kHard Liquor

Top Product Potential Paraguay Nicaragua+$400kPackaged 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 Paraguay. This means that a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Paraguay. Similarly, a dot/product with the flag of Paraguay indicates it has a comparative advantage over Nicaragua.

About

Historical Data

Bilateral Trade by Products

Exports from Nicaragua () to Paraguay () (2023)

Exports from Paraguay () to Nicaragua () (2023)

Latest Data

Trade between Nicaragua () and Paraguay ()

Nicaragua Exports

Paraguay Exports

Market Competitiveness

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

Comparative Advantage Nicaragua - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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