Trinidad and Tobago (TTO) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

About

Trinidad and Tobago-Nicaragua Trade: In 2023, Trinidad and Tobago exported $1.09k to Nicaragua. The main products that Trinidad and Tobago exported to Nicaragua were Other Inorganic Acids ($1.07k) and Cement ($20). Over the past 5 years the exports of Trinidad and Tobago to Nicaragua have decreased at an annualized rate of 58.9%, from $92.8k in 2018 to $1.09k in 2023.

In 2023, Trinidad and Tobago did not export any services to Nicaragua.

Nicaragua-Trinidad and Tobago Trade: In 2023, Nicaragua exported $121k to Trinidad and Tobago. The main products that Nicaragua exported to Trinidad and Tobago were Raw Sugar ($72.8k), Synthetic Filament Yarn Woven Fabric ($31.2k), and Rolled Tobacco ($12.8k). Over the past 5 years the exports of Nicaragua to Trinidad and Tobago have decreased at an annualized rate of 24.4%, from $490k in 2018 to $121k in 2023.

In 2023, Nicaragua did not export any services to Trinidad and Tobago.

Comparison In 2023, Trinidad and Tobago ranked 98 in total exports ($11.7B), and does not have data regarding Economic Complexity Index. 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Trinidad and Tobago exported $1.09k to Nicaragua. The main products exported from Trinidad and Tobago to Nicaragua were Other Inorganic Acids ($1.07k) and Cement ($20). During the last 5 years the exports of Trinidad and Tobago to Nicaragua have decreased at an annualized rate of 58.9%, from $92.8k in 2018 to $1.09k in 2023.

In 2018, Nicaragua exported $121k to Trinidad and Tobago. The main products exported from Nicaragua to Trinidad and Tobago were Raw Sugar ($72.8k), Synthetic Filament Yarn Woven Fabric ($31.2k), and Rolled Tobacco ($12.8k). During the last 5 years the exports of Nicaragua to Trinidad and Tobago have decreased at an annualized rate of 24.4%, from $490k in 2023 to $121k in 2018.

Exports from Trinidad and Tobago () to Nicaragua () (2023)

Exports from Nicaragua () to Trinidad and Tobago () (2023)

Latest Data

Trade between Trinidad and Tobago () and Nicaragua ()

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Trinidad and Tobago
Top DestinationUnited States$3.26B

Nicaragua
Top DestinationUnited States$4.38B

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

In 2023, countries that imported more from Trinidad and Tobago than Nicaragua included China ($783M), Guyana ($625M), and Chile ($605M).

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

Difference in imports from Nicaragua () and Trinidad and Tobago () (2023)

Comparative Advantage Trinidad and Tobago - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Trinidad and Tobago had a large net trade with Nicaragua in the exports of Chemical Products ($1.07k) and Mineral Products ($20).

During 2018, Nicaragua had a large net trade with Trinidad and Tobago in the exports of Foodstuffs ($85.6k), Textiles ($31.2k), and Machines ($4k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Trinidad and Tobago Nicaragua+$501kNitrogenous Fertilizers

Top Product Potential Nicaragua Trinidad and Tobago+$148kRaw Sugar

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

About

Historical Data

Bilateral Trade by Products

Exports from Trinidad and Tobago () to Nicaragua () (2023)

Exports from Nicaragua () to Trinidad and Tobago () (2023)

Latest Data

Trade between Trinidad and Tobago () and Nicaragua ()

Nicaragua Exports

Market Competitiveness

Difference in imports from Nicaragua () and Trinidad and Tobago () (2023)

Comparative Advantage Trinidad and Tobago - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Trinidad and Tobago () and Nicaragua () (2023)

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