2023
Exports
$42.5MWorld Rnk 125 / 214
Flag Rnk 22 / 852
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$789MWorld Rnk 118 / 226
Flag Rnk 1 / 1104
2023
ECONOMIC COMPLEXITY of Nicaragua
-1Rnk 111 / 132

About

Exports In 2023, Nicaragua exported $42.5M in Refined Petroleum, making it the 125th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 22nd most exported product in Nicaragua. The main destination of Refined Petroleum exports from Nicaragua are: Panama ($31M), Ireland ($3.44M), Guatemala ($2.72M), Costa Rica ($2.18M), and El Salvador ($1.95M).

The fastest growing export markets for Refined Petroleum of Nicaragua between 2022 and 2023 were Panama ($4.01M), Ireland ($3.44M), and Guatemala ($804k).

Imports In 2023, Nicaragua imported $789M in Refined Petroleum, becoming the 118th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Nicaragua. Nicaragua imports Refined Petroleum primarily from: United States ($566M), Ecuador ($139M), South Korea ($22.1M), El Salvador ($16.5M), and Mexico ($13.5M).

The fastest growing import markets in Refined Petroleum for Nicaragua between 2022 and 2023 were Ecuador ($44.8M), South Korea ($21.4M), and Chinese Taipei ($5.51M).

COMPANIES In 2024, leading companies such as Family Tobacco Traders (2) were at the forefront of shipping Refined Petroleum from Nicaragua to the United States.

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 Refined Petroleum. 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)$42.5M
IMPORTS (2023)$789M
NET TRADE (2023)-$747M

In 2023, Nicaragua exported $42.5M in Refined Petroleum. The main destinations of Nicaragua exports on Refined Petroleum were Panama ($31M), Ireland ($3.44M), Guatemala ($2.72M), Costa Rica ($2.18M), and El Salvador ($1.95M).

In 2023, Nicaragua imported $789M in Refined Petroleum, mainly from United States ($566M), Ecuador ($139M), South Korea ($22.1M), El Salvador ($16.5M), and Mexico ($13.5M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Nicaragua WERE (2022 - 2023):
Panama$4.01M (14.9%)
Ireland$3.44M (1%)
Guatemala$804k (42%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Nicaragua WERE (2022 - 2023):
Greece-$10.7M (-100%)
Honduras-$6.57M (-85%)
Costa Rica-$1.09M (-33.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Nicaragua's main exporting competitors in Refined Petroleum were:
In 2023, Nicaragua's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALHonduras+ $4.73M
TOP IMPORT POTENTIALNetherlands+ $12.7M

Refined Petroleum’s highest export potential is Honduras. With an export gap of $4.73M.   Refined Petroleum’s highest import potential is Netherlands with an import gap of $12.7M.

See methodology.

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