Venezuela
ECON COMPLEXITY (2018)
-0.54
RANK 93 OF 137
PRODUCT EXPORTS (2018)
$31.2B
RANK 67 OF 222
EXPORTS PER CAPITA (2018)
$1.08K
RANK 187 OF 219
PRODUCT IMPORTS (2018)
$10.6B
RANK 100 OF 221
IMPORTS PER CAPITA (2018)
$367
RANK 218 of 219
SERVICE EXPORTS (2018)
$798M
RANK 70 OF 88
SERVICE IMPORTS (2018)
$7.29B
RANK 37 OF 88
Overview: In 2018 Venezuela was the number 67 in total exports, the number 100 in total imports, and the number 93 most complex economy according to the Economic Complexity Index (ECI). In 2018, Venezuela exported $31.2B and imported $10.6B, resulting in a positive trade balance of $20.6B. In 2018, Venezuela’s exports per capita were $1.08k and its imports per capita were $367.
Trade: The top exports of Venezuela are Crude Petroleum ($23.2B), Refined Petroleum ($3.03B), Gold ($2.71B), Acyclic Alcohols ($498M), and Iron Ore ($181M). The top imports of Venezuela are Refined Petroleum ($4.48B), Corn ($311M), Rice ($289M), Wheat ($279M), and Soybean Oil ($227M).
Destinations: Venezuela exports mostly to United States ($12.2B), India ($6.41B), China ($6.32B), United Arab Emirates ($1.8B), and Turkey ($1B), and imports mostly from United States ($5.6B), China($1.14B), Mexico ($994M), Brazil ($577M), and Colombia ($353M).
Location: Venezuela borders Colombia, Guyana, and Brazil by land and Trinidad and Tobago by sea.
Exports
In 2018 Venezuela exported a total of $31.2B, making it the number 67 exporter in the world. During the last five reported years the exports of Venezuela have changed by -$67.4B from $98.6B in 2013 to $31.2B in 2018.
The most recent exports are led by Crude Petroleum ($23.2B), Refined Petroleum ($3.03B), Gold ($2.71B), Acyclic Alcohols ($498M), and Iron Ore ($181M).
Imports
In 2018 Venezuela imported $10.6B, making it the number 100 trade destination in the world. During the last five reported years the imports of Venezuela changed by -$34.6B from $45.1B in 2013 to $10.6B in 2018.
The most recent imports of Venezuela are led by Refined Petroleum ($4.48B), Corn ($311M), Rice ($289M), Wheat ($279M), and Soybean Oil ($227M).
Trade Balance
As of 2018 Venezuela had a positive trade balance of $18.7B in net exports. As compared to their trade balance in 1995 when they still had a positive trade balance of $2.54B in net exports.
Destinations
The most common destination for the exports of Venezuela are United States ($12.2B), India ($6.41B), China ($6.32B), United Arab Emirates ($1.8B), and Turkey ($1B).
Origins
The most common import partners for Venezuela are United States ($5.6B), China ($1.14B), Mexico ($994M), Brazil ($577M), and Colombia ($353M).