Venezuela and Nicaragua
Venezuela and Nicaragua maintain close political affinity and share membership in ALBA and CELAC. Contacts in March 2026 included a deputy-ministerial meeting in Bogotá and presentation of a new Nicaraguan ambassador in Caracas, as part of bilateral agenda follow-up.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08Bilateral context
Mauricio Rodríguez and Olimpia Raquel Ochoa Espinales met in Bogotá on 20 March 2026 during the tenth CELAC summit and the CELAC–Africa forum.
What merchandise trade shows
In 2024, goods trade between Venezuela and Nicaragua totalled 10 million current USD.
Documented trade sectors
Within the selected chapters, pharmaceutical products stands out in shipments from Venezuela to Nicaragua, at 0.264 million USD in 2024.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 10 M USD | 2024 · Comtrade |
| Goods: Venezuela to Nicaragua | 0.431 M USD | 2024 · Comtrade |
| Goods: Nicaragua to Venezuela | 9.57 M USD | 2024 · Comtrade |
| Services trade | ||
| Export share: Venezuela to Nicaragua | ||
| Export share: Nicaragua to Venezuela | 0.127 % | 2024 · Comtrade |
| Investment stock: Venezuela in Nicaragua | ||
| Investment stock: Nicaragua in Venezuela |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2024 · UN Comtrade · Goods; full calendar year; reporter NIC. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Venezuela to Nicaragua
- 2024 · UN Comtrade · Goods; full calendar year; reporter NIC. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Nicaragua to Venezuela
- 2024 · UN Comtrade · Goods; full calendar year; reporter NIC. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: Nicaragua to Venezuela
- 2024 · UN Comtrade · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Venezuela | Nicaragua |
|---|---|---|
| Nominal GDP | 99.66 billion USD2025 · WB | 22.24 billion USD2025 · WB |
| GDP per capita | 3,494.81 USD2025 · WB | 3,173.34 USD2025 · WB |
| GDP growth | 1.57 %2025 · WB | 4.92 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 2.08 %Annual average · 2025 · WB | |
| Inflation · latest year-on-year figure | ||
| Unemployment | 5.31 %ILO est.2025 · WB | 5.04 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -5.8 %IMF est.2025 · IMF | 2.1 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 308.7 %IMF est.2025 · IMF | 34.8 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 4.15 %2024 · WB | |
| Population | 28,516,8962025 · WB | 7,007,5022025 · WB |
| Area | 912,050 km²2023 · WB | 130,370 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDVenezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Nicaragua: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personVenezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Nicaragua: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Venezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Nicaragua: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Nicaragua: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionVenezuela: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.Nicaragua: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Venezuela: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Nicaragua: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Venezuela: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Nicaragua: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPNicaragua: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleVenezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Nicaragua: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceVenezuela: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.Nicaragua: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Venezuela to Nicaragua
Nicaragua to Venezuela
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Venezuela living in Nicaragua | ||
| Residents from Nicaragua living in Venezuela | ||
| Study and training: Venezuela in Nicaragua | ||
| Study and training: Nicaragua in Venezuela | ||
| Academic stays: Venezuela in Nicaragua | ||
| Academic stays: Nicaragua in Venezuela | ||
| Travel: Venezuela to Nicaragua | ||
| Travel: Nicaragua to Venezuela |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The scale of both economies
Nominal GDP for Venezuela is 99.7 billion USD (2025), compared with 22.2 for Nicaragua (2025). The reference populations are 28.52 and 7.01 million, respectively. In the same year, the economy of Venezuela was 4.48 times that of Nicaragua in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [4] [5]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Bilateral context
Mauricio Rodríguez and Olimpia Raquel Ochoa Espinales met in Bogotá on 20 March 2026 during the tenth CELAC summit and the CELAC–Africa forum. They addressed bilateral and regional matters. [1]
Cooperation and bilateral issues
The Venezuelan foreign ministry described the relationship through a shared vision of sovereignty and regional geopolitics; this formulation expresses Caracas’ position. On 5 March, Yván Gil had received the copies of credentials of the new Nicaraguan ambassador, Isidro Antonio Rivera Guadamuz. The two countries share regional mechanisms such as CELAC and ALBA. The communication documents dialogue and renewal of diplomatic representation but does not list new projects or agreements signed at the Bogotá meeting. [1]
What merchandise trade shows
In 2024, merchandise trade between the two countries (Venezuela and Nicaragua) totalled 10 million current USD. Shipments from the first to the second were 0.431 million; those in the opposite direction, 9.6 million. The difference between the two flows was 9.1 million, in favour of Nicaragua. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Nicaragua to the partner represented 0.127% of its worldwide goods exports in 2024. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Documented trade sectors
Within the selected chapters, pharmaceutical products stands out in shipments from Venezuela to Nicaragua, at 0.264 million USD in 2024. Within the selected chapters, machinery and mechanical appliances stands out in shipments from Nicaragua to Venezuela, at 0.00035 million USD in 2024. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [3]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — VEN-NIC
mppre.gob.ve · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.