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2023
Flag → Flag
Exports $76.2MRnk 104 / 216
2023
Flag → Flag
Top Product $37.2MDelivery Trucks
2023
Flag → Flag
Exports $3.26MRnk 55 / 149
2023
Flag → Flag
Top Product $783kScrap Aluminium
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag
Economic Complexity (ECI) ECI -1Rnk 111 / 132
2023
Flag  
GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 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 $7,182CURRENT US$
Rnk 102 / 195
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195
2023
Flag
GDP PC$2,613CURRENT US$
Rnk 145 / 196
2013-2023
Flag
GDP PC GROWTH42.4%CURRENT US$
Rnk 58 / 195

About

Thailand-Nicaragua Trade: In 2023, Thailand exported $76.2M to Nicaragua. The main products that Thailand exported to Nicaragua were Delivery Trucks ($37.2M), Cars ($8.14M), and Household Washing Machines ($5.19M). Over the past 5 years the exports of Thailand to Nicaragua have increased at an annualized rate of 16%, from $36.2M in 2018 to $76.2M in 2023.

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

Nicaragua-Thailand Trade: In 2023, Nicaragua exported $3.26M to Thailand. The main products that Nicaragua exported to Thailand were Scrap Aluminium ($783k), Edible Offal ($493k), and Animal Organs ($438k). Over the past 5 years the exports of Nicaragua to Thailand have decreased at an annualized rate of 12.8%,  from $6.46M in 2018 to $3.26M in 2023.

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

Comparison: In 2023,  Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). That same year, Nicaragua ranked 111 in the Economic Complexity Index (ECI -1), and 110 in total exports ($8.51B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Thailand exported $76.2M to Nicaragua. The main products exported from Thailand to Nicaragua were Delivery Trucks ($37.2M), Cars ($8.14M), and Household Washing Machines ($5.19M). During the last 5 years the exports of Thailand to Nicaragua have increased at an annualized rate of 16%, from $36.2M in 2018 to $76.2M in 2023.

In 2018, Nicaragua exported $3.26M to Thailand. The main products exported from Nicaragua to Thailand were Scrap Aluminium ($783k), Edible Offal ($493k), and Animal Organs ($438k). During the last 5 years the exports of Nicaragua to Thailand have decreased at an annualized rate of 12.8%, from $6.46M in 2023 to $3.26M in 2018.

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

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

Latest Data

Trade between Thailand (Flag) and Nicaragua (Flag)

Thailand Exports

Nicaragua Exports

Date

Market Competitiveness

Color
Thailand
Top DestinationUnited States$58.5B
Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Thailand than Nicaragua included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

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

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

Comparative Advantage Thailand - Nicaragua

Flow
Scale

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

During 2023, Thailand had a large net trade with Nicaragua in the exports of Transportation ($49.6M), Machines ($14.7M), and Plastics and Rubbers ($4.99M).

During 2018, Nicaragua had a large net trade with Thailand in the exports of Metals ($1.08M), Animal Products ($1.06M), and Foodstuffs ($386k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Thailand Nicaragua+$3.71MDelivery Trucks
Top Product Potential Nicaragua Thailand+$832kInsulated Wire

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 Thailand and Nicaragua. This means that a dot/product with the flag of Thailand indicates it has a comparative advantage over Nicaragua. Similarly, a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Thailand.

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

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