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Pricing

2022
Flag → Flag
Exports $27.3MRnk 22 / 148
2022
Flag → Flag
Top Product $20MVaccines, blood, antisera, toxins and cultures
2022
Flag → Flag
Exports $461kRnk 69 / 126
2022
Flag → Flag
Top Product $315kPackaged Medicaments
2022
Flag
Economic Complexity (ECI) ECI -0.97Rnk 110 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$15.7BCURRENT US$
Rnk 129 / 186
2012-2022
Flag
GDP GROWTH48.8%CURRENT US$
Rnk 66 / 186
2022
Flag
GDP PC $2,255CURRENT US$
Rnk 142 / 186
2012-2022
Flag
GDP PC GROWTH29.1%CURRENT US$
Rnk 66 / 186

About

Nicaragua-Venezuela Trade: In 2022, Nicaragua exported $27.3M to Venezuela. The main products that Nicaragua exported to Venezuela were Vaccines, blood, antisera, toxins and cultures ($20M), Raw Sugar ($6.43M), and Ground Nuts ($591k). Over the past 5 years the exports of Nicaragua to Venezuela have decreased at an annualized rate of 25.2%, from $117M in 2017 to $27.3M in 2022.

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

Venezuela-Nicaragua Trade: In 2022, Venezuela exported $461k to Nicaragua. The main products that Venezuela exported to Nicaragua were Packaged Medicaments ($315k), Centrifuges ($76.5k), and Plastic Lids ($63.3k). Over the past 5 years the exports of Venezuela to Nicaragua have decreased at an annualized rate of 57.6%,  from $33.6M in 2017 to $461k in 2022.

In 2022, Venezuela 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, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Nicaragua exported $27.3M to Venezuela. The main products exported from Nicaragua to Venezuela were Vaccines, blood, antisera, toxins and cultures ($20M), Raw Sugar ($6.43M), and Ground Nuts ($591k). During the last 5 years the exports of Nicaragua to Venezuela have decreased at an annualized rate of 25.2%, from $117M in 2017 to $27.3M in 2022.

In 2017, Venezuela exported $461k to Nicaragua. The main products exported from Venezuela to Nicaragua were Packaged Medicaments ($315k), Centrifuges ($76.5k), and Plastic Lids ($63.3k). During the last 5 years the exports of Venezuela to Nicaragua have decreased at an annualized rate of 57.6%, from $33.6M in 2022 to $461k in 2017.

Exports from Nicaragua (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to Nicaragua (Flag) (2022)

Latest Data

Trade between Nicaragua (Flag) and Venezuela (Flag)

Nicaragua Exports

Date

Market Competitiveness

Color
Nicaragua
Top DestinationUnited States$4.09B
Venezuela
Top DestinationChina$703M

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

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

In 2022, countries that imported more from Venezuela than Nicaragua included China ($703M), Turkey ($597M), and Spain ($518M).

Difference in imports from Venezuela (Flag) and Nicaragua (Flag) (2022)

Comparative Advantage Nicaragua - Venezuela

Flow
Scale

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

During 2022, Nicaragua had a large net trade with Venezuela in the exports of Chemical Products ($20.1M), Foodstuffs ($6.55M), and Vegetable Products ($591k).

During 2017, Venezuela had a large net trade with Nicaragua in the exports of Chemical Products ($317k), Machines ($78.2k), and Plastics and Rubbers ($63.3k).

Economic Complexity

Competitive Landscape

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

Product Space of Nicaragua (Flag) and Venezuela (Flag) (2022)

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