2023
Exports
$411MWorld Rnk 22 / 219
Flag Rnk 7 / 852
2023
PRODUCT COMPLEXITY IN Knit Sweaters
-1.3Rnk 900 / 1025
2023
Imports
$125MWorld Rnk 48 / 220
Flag Rnk 16 / 1104
2023
ECONOMIC COMPLEXITY of Nicaragua
-1Rnk 111 / 132

About

Exports In 2023, Nicaragua exported $411M in Knit Sweaters, making it the 22nd largest exporter of Knit Sweaters in the world. At the same year, Knit Sweaters was the 7th most exported product in Nicaragua. The main destination of Knit Sweaters exports from Nicaragua are: United States ($370M), Honduras ($13.2M), Canada ($9.34M), Mexico ($6.71M), and Japan ($2.41M).

The fastest growing export markets for Knit Sweaters of Nicaragua between 2022 and 2023 were Mexico ($6.6M), Canada ($4.74M), and Australia ($1.31M).

Imports In 2023, Nicaragua imported $125M in Knit Sweaters, becoming the 48th largest importer of Knit Sweaters in the world. At the same year, Knit Sweaters was the 16th most imported product in Nicaragua. Nicaragua imports Knit Sweaters primarily from: Honduras ($104M), India ($13.7M), United States ($2.01M), El Salvador ($1.74M), and Hong Kong ($952k).

The fastest growing import markets in Knit Sweaters for Nicaragua between 2022 and 2023 were India ($13.7M), Hong Kong ($952k), and Chinese Taipei ($647k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Knit Sweaters. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$411M
IMPORTS (2023)$125M
NET TRADE (2023)$287M

In 2023, Nicaragua exported $411M in Knit Sweaters. The main destinations of Nicaragua exports on Knit Sweaters were United States ($370M), Honduras ($13.2M), Canada ($9.34M), Mexico ($6.71M), and Japan ($2.41M).

In 2023, Nicaragua imported $125M in Knit Sweaters, mainly from Honduras ($104M), India ($13.7M), United States ($2.01M), El Salvador ($1.74M), and Hong Kong ($952k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Knit Sweaters EXPORT MARKETS FOR Nicaragua WERE (2022 - 2023):
Mexico$6.6M (5.86k%)
Canada$4.74M (103%)
Australia$1.31M (631%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Sweaters BY Nicaragua WERE (2022 - 2023):
United States-$111M (-23.1%)
Honduras-$66M (-83.4%)
United Kingdom-$3.94M (-91.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nicaragua's main exporting competitors in Knit Sweaters were:
In 2023, Nicaragua's main importing competitors in Knit Sweaters were:

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Trade Value of Knit Sweaters by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $73.7M
TOP IMPORT POTENTIALChina+ $2.13M

Knit Sweaters’s highest export potential is United States. With an export gap of $73.7M.   Knit Sweaters’s highest import potential is China with an import gap of $2.13M.

See methodology.

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