Colombia (COL) and Nicaragua (NIC) Trade | The Observatory of Economic Complexity

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Colombia-Nicaragua Trade: In 2022, Colombia exported $51.7M to Nicaragua. The main products that Colombia exported to Nicaragua were Medical Furniture ($7.3M), Packaged Medicaments ($5.03M), and Other Edible Preparations ($2.72M). Over the past 5 years the exports of Colombia to Nicaragua have decreased at an annualized rate of 6.21%, from $71.2M in 2017 to $51.7M in 2022.

In 2022, Colombia did not export any services to Nicaragua.

Nicaragua-Colombia Trade: In 2022, Nicaragua exported $20.6M to Colombia. The main products that Nicaragua exported to Colombia were Ground Nuts ($14.3M), Raw Sugar ($2.81M), and Palm Oil ($1.35M). Over the past 5 years the exports of Nicaragua to Colombia have increased at an annualized rate of 20.8%, from $6.64M in 2017 to $20.6M in 2022.

In 2022, Nicaragua did not export any services to Colombia.

Comparison: In 2022, Colombia ranked 58 in the Economic Complexity Index (ECI 0.11), and 53 in total exports ($60.3B). That same year, Nicaragua ranked 110 in the Economic Complexity Index (ECI -0.97), and 111 in total exports ($7.92B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Colombia exported $51.7M to Nicaragua. The main products exported from Colombia to Nicaragua were Medical Furniture ($7.3M), Packaged Medicaments ($5.03M), and Other Edible Preparations ($2.72M). During the last 5 years the exports of Colombia to Nicaragua have decreased at an annualized rate of 6.21%, from $71.2M in 2017 to $51.7M in 2022.

In 2017, Nicaragua exported $20.6M to Colombia. The main products exported from Nicaragua to Colombia were Ground Nuts ($14.3M), Raw Sugar ($2.81M), and Palm Oil ($1.35M). During the last 5 years the exports of Nicaragua to Colombia have increased at an annualized rate of 20.8%, from $6.64M in 2022 to $20.6M in 2017.

Exports from Colombia () to Nicaragua () (2022)

Exports from Nicaragua () to Colombia () (2022)

Latest Data

Trade between Colombia () and Nicaragua ()

Colombia Exports

Date

Nicaragua Exports

Date

Mar 2016

Feb 2016

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Colombia
Top DestinationUnited States$15.6B

Nicaragua
Top DestinationUnited States$4.09B

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

In 2022, countries that imported more from Colombia than Nicaragua included United States ($15.6B), Panama ($5.84B), and Netherlands ($3.67B).

In 2022, countries that imported more from Nicaragua than Colombia included Honduras ($541M), El Salvador ($437M), and Bulgaria ($14.3M).

Difference in imports from Nicaragua () and Colombia () (2022)

Comparative Advantage Colombia - Nicaragua

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Colombia had a large net trade with Nicaragua in the exports of Chemical Products ($13.5M), Machines ($10M), and Miscellaneous ($8.08M).

During 2017, Nicaragua had a large net trade with Colombia in the exports of Vegetable Products ($14.5M), Foodstuffs ($3.31M), and Animal and Vegetable Bi-Products ($1.35M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Colombia Nicaragua+$2.08MPackaged Medicaments

Top Product Potential Nicaragua Colombia+$2.27MRaw 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 Colombia and Nicaragua. This means that a dot/product with the flag of Colombia indicates it has a comparative advantage over Nicaragua. Similarly, a dot/product with the flag of Nicaragua indicates it has a comparative advantage over Colombia.

About

Historical Data

Bilateral Trade by Products

Exports from Colombia () to Nicaragua () (2022)

Exports from Nicaragua () to Colombia () (2022)

Latest Data

Trade between Colombia () and Nicaragua ()

Colombia Exports

Nicaragua Exports

Market Competitiveness

Difference in imports from Nicaragua () and Colombia () (2022)

Comparative Advantage Colombia - Nicaragua

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Colombia () and Nicaragua () (2022)

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