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Nicaragua Tariff Rate

Nicaragua's tariff rate fell to 2.98% in 2022, down from 3.04% in 2021, according to World Bank. This represents a decrease of 0.06% from the previous year. Nicaragua has tariff rate lower than the global median (2.98% vs median 5.90%). Compared with the median in Americas, Nicaragua is lower (2.98% vs regional median 9.44%) and ranks 31st out of 38 countries in Americas.

Yearly Historical Data (1995-2022)

(in %)
Year Tariff Rate (%)
2022 2.98%
2021 3.04%
2020 3.26%
2019 3.19%
2018 3.33%
2017 3.48%
2016 3.57%
2015 3.79%
2014 3.86%
2013 3.92%
2012 4.3%
2011 4.39%
2010 4.15%
2009 4.31%
2008 5.58%
2007 5.39%
2006 5.73%
2005 6.72%
2004 5.27%
2003 4.59%
2002 4.31%
2001 4.26%
2000 3.04%
1999 9.05%
1998 4.9%
1997 6.63%
1996 9.14%
1995 7.68%
Nicaragua Tariff Rate : Definition
Tariff Rate measures the simple average of the import taxes applied by Nicaragua on all products, expressed as a percentage.
Indicator Last Value Prior Value Period
Annual Exports $7.38B $7.36B 2023
Annual Imports $10.91B $11.25B 2023
Exports (% GDP) 40.46% 45.85% 2024
FDI Inflows (% GDP) 6.87% 6.26% 2024
Imports (% GDP) 58.06% 59.15% 2024
Net Trade (Goods & Services, BoP) -$3.3B -$2.27B 2024
Trade (% GDP) 98.53% 105% 2024