Bolivia (BOL) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Bolivia-Venezuela Trade: In 2023, Bolivia exported $4.99M to Venezuela. The main products that Bolivia exported to Venezuela were Concentrated Milk ($2.07M), Refined Petroleum ($1.32M), and Wood Fiberboard ($1.07M). Over the past 5 years the exports of Bolivia to Venezuela have increased at an annualized rate of 1.93%, from $4.53M in 2018 to $4.99M in 2023.

In 2023, Bolivia did not export any services to Venezuela.

Venezuela-Bolivia Trade: In 2023, Venezuela exported $4.1M to Bolivia. The main products that Venezuela exported to Bolivia were Other Oily Seeds ($2.58M), Cocoa Powder ($741k), and Asphalt Mixtures ($282k). Over the past 5 years the exports of Venezuela to Bolivia have increased at an annualized rate of 15.4%, from $2M in 2018 to $4.1M in 2023.

In 2023, Venezuela did not export any services to Bolivia.

Comparison: In 2023, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Latest Trends

December, 2023

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Overview In December 2023, Bolivia exported $375k and imported $114k from Venezuela, resulting in a positive trade balance of $261k. Between December 2022 and December 2023 the exports of Bolivia have decreased by $-71.6k (-16%) from $447k to $375k, while imports decreased by $-426k (-78.9%) from $540k to $114k.

Trade In December 2023, the top exports of Bolivia to Venezuela were Motor spirit (gasoline) and other light... ($136k) and Manufactures of asbestos; friction materials ($18.4k). In December 2023 the top imports of Bolivia from Venezuela were Cocoa powder not containing added sugar... ($89.6k) and Parts of footwear (including uppers, whether... ($20).

Origins In December 2023 the exports of Bolivia were mainly from Santa Cruz ($238k), La Paz ($72.3k), Oruro ($49.9k), and Cochabamba ($15.4k), while imports destinations were mainly Oruro ($63.6k), Santa Cruz ($48.9k), and La Paz ($1.4k).

Growth In December 2023, the decrease in Bolivia's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in . In December 2023, the decrease in Bolivia's year-by-year imports from Venezuela was explained primarily by an decrease in product imports in .

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2022 - December 2023)$-71.6k(-16%)

IMPORT GROWTH (December 2022 - December 2023)$-426k(-78.9%)

MAIN EXPORTER (December 2023)Santa Cruz$238k

This section shows exports and imports data at subnational level for Bolivia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Bolivia over time.

To check Venezuela and Bolivia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bolivia exported $4.99M to Venezuela. The main products exported from Bolivia to Venezuela were Concentrated Milk ($2.07M), Refined Petroleum ($1.32M), and Wood Fiberboard ($1.07M). During the last 5 years the exports of Bolivia to Venezuela have increased at an annualized rate of 1.93%, from $4.53M in 2018 to $4.99M in 2023.

In 2018, Venezuela exported $4.1M to Bolivia. The main products exported from Venezuela to Bolivia were Other Oily Seeds ($2.58M), Cocoa Powder ($741k), and Asphalt Mixtures ($282k). During the last 5 years the exports of Venezuela to Bolivia have increased at an annualized rate of 15.4%, from $2M in 2023 to $4.1M in 2018.

Exports from Bolivia () to Venezuela () (2023)

Exports from Venezuela () to Bolivia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bolivia
Top DestinationBrazil$1.54B

Venezuela
Top DestinationUnited States$3.81B

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

In 2023, countries that imported more from Bolivia than Venezuela included Argentina ($1.15B), India ($1.33B), and Brazil ($1.54B).

In 2023, countries that imported more from Venezuela than Bolivia included United States ($3.81B), Spain ($670M), and Turkey ($364M).

Difference in imports from Venezuela () and Bolivia () (2023)

Comparative Advantage Bolivia - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Bolivia and Venezuela by product, considering products traded by both, Bolivia and Venezuela.

During 2023, Bolivia had a large net trade with Venezuela in the exports of Animal Products ($2.07M), Mineral Products ($1.32M), and Wood Products ($1.07M).

During 2018, Venezuela had a large net trade with Bolivia in the exports of Vegetable Products ($2.58M), Foodstuffs ($741k), and Mineral Products ($499k).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Bolivia and Venezuela. This means that a dot/product with the flag of Bolivia indicates it has a comparative advantage over Venezuela. Similarly, a dot/product with the flag of Venezuela indicates it has a comparative advantage over Bolivia.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Bolivia () to Venezuela () (2023)

Exports from Venezuela () to Bolivia () (2023)

Market Competitiveness

Difference in imports from Venezuela () and Bolivia () (2023)

Comparative Advantage Bolivia - Venezuela

Economic Complexity

Competitive Landscape

Product Space of Bolivia () and Venezuela () (2023)

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