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Nicaragua Trade Summary

2023

Nicaragua exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR NICARAGUA 2023

Overall Exports and Imports for Nicaragua 2023

Exports and imports of Nicaragua in 2023 are below, along with number of countries and products

  • The total value of exports (FoB) was 7,378 million.
  • The total value of imports (CIF) was 10,912 million.
  • At the HS6 digit level, 1,954 products were exported to 129 countries and 3,581 products were imported from 162 countries.

Nicaragua top 5 Export and Import partners 2023

Top five countries to which Nicaragua exported in 2023 are below, along with the percent of total exports that went to that country:

  1. Nicaragua exports to United States worth US$ 3,707 million, with a partner share of 50.24 percent.
  2. Nicaragua exports to Mexico worth US$ 1,010 million, with a partner share of 13.68 percent.
  3. Nicaragua exports to El Salvador worth US$ 482 million, with a partner share of 6.54 percent.
  4. Nicaragua exports to Canada worth US$ 427 million, with a partner share of 5.78 percent.
  5. Nicaragua exports to Honduras worth US$ 368 million, with a partner share of 4.99 percent.

Top five countries from which Nicaragua imported goods in 2023 are below, along with percent of total imports that came from the country :

  1. Nicaragua imports from United States worth US$ 2,703 million, with a partner share of 24.77 percent.
  2. Nicaragua imports from China worth US$ 1,380 million, with a partner share of 12.65 percent.
  3. Nicaragua imports from Mexico worth US$ 1,021 million, with a partner share of 9.35 percent.
  4. Nicaragua imports from Honduras worth US$ 1,003 million, with a partner share of 9.19 percent.
  5. Nicaragua imports from Guatemala worth US$ 852 million, with a partner share of 7.81 percent.

Nicaragua Top 5 Productsexports imports at HS 6 digit level 2023

The top five exported HS 6 digit level products to world by Nicaragua along with trade value are:

  1. Nicaragua exported Gold in unwrought forms non-monetary , worth 1,128,988.76 (US$ Thousands).
  2. Nicaragua exported Ignition wiring sets&oth wiring sets of a kind , worth 838,452.72 (US$ Thousands).
  3. Nicaragua exported T-shirts, singlets and other vests, of cotton, , worth 705,114.95 (US$ Thousands).
  4. Nicaragua exported Coffee, not roasted or decaffeinated , worth 607,053.75 (US$ Thousands).
  5. Nicaragua exported Cigars, cheroots and cigarillos containing toba , worth 425,443.26 (US$ Thousands).

The top five imported HS 6 digit level products from world by Nicaragua along with trade value are

  1. Nicaragua imported Petroleum oils, etc, (excl. crude); preparation , worth 834,943.12 (US$ Thousands).
  2. Nicaragua imported Petroleum oils and oils obtained from bituminou , worth 604,926.46 (US$ Thousands).
  3. Nicaragua imported T-shirts, singlets and other vests, of cotton, , worth 397,569.79 (US$ Thousands).
  4. Nicaragua imported Other medicaments of mixed or unmixed products, , worth 319,505.34 (US$ Thousands).
  5. Nicaragua imported Weft knits or crocheted fabrics of cotton , worth 251,609.14 (US$ Thousands).

Exports and Imports of Product Groups 2023

Exports and imports of products by stages of processing in 2023 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2023

Tariffs imposed by Nicaragua in 2023 are below

  • The maximum rate of tariff in percentage on any product was 60 percent.
  • The simple average tariff across all products was 2.94 percent.
  • The trade weighted average tariff was 1.89 .
  • The total duty free imports in thousands of US dollars were 7,343,567.82 and duty free tariff line items share was 70.31 percent.

Development Indicators 2023

Key Development Indicators of Nicaragua in 2023 are below

  • Nicaragua GDP in current US dollar was 17,806 million.
  • GNI per capita, Atlas method (current US$) was 2,360.00 .
  • Nicaragua Trade balance: as % of GDP was -13.30.
  • Trade balance in current US$ was -2,369.00 million.
  • Trade as percentage of GDP was 105.00 .
  • Trade in services as percentage of GDP was 15.15 .

Trade Indicators 2023

Trade Indicators for Nicaragua in 2023 are below

  • Hirschman Herfindahl market concentration index was 0.33.
  • Index of export market penetration was 2.64.
  • World Growth in percentage was -3.13 and Nicaragua Country Growth was -2.92 .