2022
Exports
$691kWorld Rnk 85 / 135
Flag Rnk 188 / 877
2022
PRODUCT COMPLEXITY IN Soybean Oil
-0.93Rnk 821 / 1025
2022
Imports
$25.2MWorld Rnk 73 / 215
Flag Rnk 77 / 1109
2022
ECONOMIC COMPLEXITY of Nicaragua
-0.97Rnk 110 / 133

About

Exports In 2022, Nicaragua exported $691k in Soybean Oil, making it the 85th largest exporter of Soybean Oil in the world. At the same year, Soybean Oil was the 188th most exported product in Nicaragua. The main destination of Soybean Oil exports from Nicaragua are: Honduras ($629k), Curaçao ($45.3k), El Salvador ($16.3k), and Panama ($5).

The fastest growing export markets for Soybean Oil of Nicaragua between 2021 and 2022 were El Salvador ($16.3k), Curaçao ($13.2k), and Panama ($5).

Imports In 2022, Nicaragua imported $25.2M in Soybean Oil, becoming the 73rd largest importer of Soybean Oil in the world. At the same year, Soybean Oil was the 77th most imported product in Nicaragua. Nicaragua imports Soybean Oil primarily from: Argentina ($9.22M), Guatemala ($8.14M), Costa Rica ($4.41M), United States ($1.84M), and Mexico ($1.51M).

The fastest growing import markets in Soybean Oil for Nicaragua between 2021 and 2022 were Argentina ($4.03M), Guatemala ($3.95M), and Costa Rica ($2.11M).

Latest Trends

Oct 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 Soybean Oil. 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 (2022)$691k
IMPORTS (2022)$25.2M
NET TRADE (2022)-$24.5M

In 2022, Nicaragua exported $691k in Soybean Oil. The main destinations of Nicaragua exports on Soybean Oil were Honduras ($629k), Curaçao ($45.3k), El Salvador ($16.3k), and Panama ($5).

In 2022, Nicaragua imported $25.2M in Soybean Oil, mainly from Argentina ($9.22M), Guatemala ($8.14M), Costa Rica ($4.41M), United States ($1.84M), and Mexico ($1.51M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soybean Oil EXPORT MARKETS FOR Nicaragua WERE (2021 - 2022):
El Salvador$16.3k (1%)
Curaçao$13.2k (41.1%)
Panama$5 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybean Oil BY Nicaragua WERE (2021 - 2022):
Honduras-$279k (-30.7%)
Costa Rica-$42.6k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Nicaragua's main exporting competitors in Soybean Oil were:
In 2022, Nicaragua's main importing competitors in Soybean Oil were:

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Trade Value of Soybean Oil by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALEl Salvador+ $17.6k
TOP IMPORT POTENTIALUnited States+ $670k

Soybean Oil’s highest export potential is El Salvador. With an export gap of $17.6k.   Soybean Oil’s highest import potential is United States with an import gap of $670k.

See methodology.

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