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2023
Flag → Flag
Exports $9.24MRnk 85 / 201
2023
Flag → Flag
Top Product $2.68MInsulated Wire
2023
Flag → Flag
Exports $574kRnk 81 / 149
2023
Flag → Flag
Top Product $265kTextile Scraps
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI -1Rnk 111 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$17.8BCURRENT US$
Rnk 127 / 195
2013-2023
Flag
GDP GROWTH62.3%CURRENT US$
Rnk 48 / 195
2023
Flag
GDP PC $3,805CURRENT US$
Rnk 133 / 195
2013-2023
Flag
GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195
2023
Flag
GDP PC$2,613CURRENT US$
Rnk 145 / 196
2013-2023
Flag
GDP PC GROWTH42.4%CURRENT US$
Rnk 58 / 195

About

Philippines-Nicaragua Trade: In 2023, Philippines exported $9.24M to Nicaragua. The main products that Philippines exported to Nicaragua were Insulated Wire ($2.68M), Office Machine Parts ($1.69M), and Electrical Transformers ($916k). Over the past 5 years the exports of Philippines to Nicaragua have increased at an annualized rate of 23.1%, from $3.26M in 2018 to $9.24M in 2023.

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

Nicaragua-Philippines Trade: In 2023, Nicaragua exported $574k to Philippines. The main products that Nicaragua exported to Philippines were Textile Scraps ($265k), Used Clothing ($260k), and Knit T-shirts ($35.4k). Over the past 5 years the exports of Nicaragua to Philippines have decreased at an annualized rate of 23.8%,  from $2.23M in 2018 to $574k in 2023.

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

Comparison: In 2023,  Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B). That same year, Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B).

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $39.9k and imported $2.26k from Nicaragua, resulting in a positive trade balance of $37.7k. Between July 2023 and July 2024 the exports of Philippines have decreased by $-12.7k (-24.2%) from $52.7k to $39.9k, while imports decreased by $-33.2k (-93.6%) from $35.5k to $2.26k.

Trade In July 2024, the top exports of Philippines to Nicaragua were Glass Bottles ($518k) and Insulated Wire ($215). In July 2024 the top imports of Philippines from Nicaragua were Textile Scraps ($12.5k), Commodities not elsewhere specified ($406), Insulated Wire ($300), Knit T-shirts ($271), and Knit Sweaters ($207).

Growth In July 2024, the decrease in Philippines's year-by-year exports to Nicaragua was explained primarily by an decrease in product exports in . In July 2024, the decrease in Philippines's year-by-year imports  from Nicaragua was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-12.7k(-24.2%)
IMPORT GROWTH (July 2023 - July 2024)$-33.2k(-93.6%)

This section shows exports and imports data at subnational level for Philippines. Click any date in the line plot or any product to explore the exports or imports behavior of Philippines over time.

To check Nicaragua and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Nicaragua and Philippines Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $9.24M to Nicaragua. The main products exported from Philippines to Nicaragua were Insulated Wire ($2.68M), Office Machine Parts ($1.69M), and Electrical Transformers ($916k). During the last 5 years the exports of Philippines to Nicaragua have increased at an annualized rate of 23.1%, from $3.26M in 2018 to $9.24M in 2023.

In 2018, Nicaragua exported $574k to Philippines. The main products exported from Nicaragua to Philippines were Textile Scraps ($265k), Used Clothing ($260k), and Knit T-shirts ($35.4k). During the last 5 years the exports of Nicaragua to Philippines have decreased at an annualized rate of 23.8%, from $2.23M in 2023 to $574k in 2018.

Exports from Philippines (Flag) to Nicaragua (Flag) (2023)

Exports from Nicaragua (Flag) to Philippines (Flag) (2023)

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Philippines than Nicaragua included China ($19B), Hong Kong ($11.7B), and Japan ($11.4B).

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

Difference in imports from Nicaragua (Flag) and Philippines (Flag) (2023)

Comparative Advantage Philippines - Nicaragua

Flow
Scale

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

During 2023, Philippines had a large net trade with Nicaragua in the exports of Machines ($6.73M), Stone And Glass ($851k), and Instruments ($798k).

During 2018, Nicaragua had a large net trade with Philippines in the exports of Textiles ($567k), Foodstuffs ($3.29k), and Machines ($3.12k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Nicaragua+$1.38MInsulated Wire
Top Product Potential Nicaragua Philippines+$149kRolled Tobacco

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

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

Product Space of Philippines (Flag) and Nicaragua (Flag) (2023)

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