Flag China / Venezuela Flag

Exports Flag β†’ Flag  (2018): $1.14B, Rnk 112 / 206

Top Product Flag β†’ Flag (2018): $170M, Planes, Helicopters, and/or Spacecraft

Exports Flag β†’ Flag (2018): $6.32B, Rnk 3 / 99

Top Product Flag β†’ Flag (2018): $6.02B, Crude Petroleum

Economic Complexity of Flag (2018): ECI 0.89, Rnk 30 / 137

Economic Complexity of Flag (2018): ECI -0.54, Rnk 93 / 137

GDP Flag (2018): $13.6T, CURRENT US$
Rnk 2 / 196

GDP GROWTH Flag (2008-2018): 196%, CURRENT US$
Rnk 6 / 196

GDP PC Flag (2018): $9,771, CURRENT US$
Rnk 78 / 196

GDP PC GROWTH Flag (2008-2018): 182%, CURRENT US$
Rnk 3 / 196

China-Venezuela: In 2018, China exported $1.14B to Venezuela. The main products that China exported to Venezuela are Planes, Helicopters, and/or Spacecraft ($170M), Rubber Tires ($76.6M), and Toilet Paper ($30.9M). During the last 23 years the exports of China to Venezuela have increased at an annualized rate of 13.2%, from $65.7M in 1995 to $1.14B in 2018.

In 2018, China did not exported services to Venezuela.

Venezuela-China: In 2018, Venezuela exported $6.32B to China . The main products that Venezuela exported to China were Crude Petroleum ($6.02B), Iron Ore ($156M), and Refined Petroleum ($59M). During the last 23 years the exports of Venezuela to China have increased at an annualized rate of 30.5%, from $13.9M in 1995 to $6.32B in 2018.

In 2018, Venezuela did not exported services to China.

Comparison: In 2018,  China ranked 30 in the Economic Complexity Index (ECI 0.89), and 1 in total exports ($2.59T). That same year, Venezuela ranked 93 in the Economic Complexity Index (ECI -0.54), and 67 in total exports ($31.2B).

Bilateral Trade by Products

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Depth
Value

In 2018, China exported $1.14B to Venezuela. The main products exported from China to Venezuela were Planes, Helicopters, and/or Spacecraft ($170M), Rubber Tires ($76.6M), and Toilet Paper ($30.9M). During the last 23 years the exports of China to Venezuela have increased at an annualized rate of 13.2%, from $65.7M in 1995 to $1.14B in 2018.

In 2018, Venezuela exported $6.32B to China. The main products exported from Venezuela to China were Crude Petroleum ($6.02B), Iron Ore ($156M), and Refined Petroleum ($59M). During the last 23 years the exports of Venezuela to China have increased at an annualized rate of 30.5%, from $13.9M in 1995 to $6.32B in 2018.

Market Competitiveness

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Measure

China
Top Destination
: United States, $499B

Venezuela
Top Destination
: United States, $12.2B

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

In 2018, countries that imported more from China than Venezuela were United States ($499B), Hong Kong ($282B), and Japan ($155B).

In 2018, no countries were registered that imported more from Venezuela than from China.

Comparative Advantage China - Venezuela

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Depth

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

During 2018, China had a large net trade with Venezuela in the exports of Machines ($351M), Transportation ($235M), and Plastics and Rubbers ($111M).

During 2018, Venezuela had a large net trade with China in the exports of Mineral Products ($6.23B), Metals ($52.9M), and Chemical Products ($29.2M).

Tariff Section

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This section shows import tariffs for products traded between China and Venezuela (using the HS6 product classification and the last year reported).

In 2018, the products from China that paid the highest import tariffs to enter Venezuela were Vermouth and other flavoured grape wines - pack < 2l (65%) and Vermouth and other flavoured grape wines - pack > 2l (65%).

In 2018, the products from Venezuela that paid the highest import tariffs to enter China were Milk not concentrated nor sweetened < 1% fat (40%) and Milk not concentrated nor sweetened 1-6% fat (40%).

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*The tariffs present between China and Venezuela are:
125: General duty rate
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between ${linkedName1} and ${linkedName2}. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more China has comparative advantage over Venezuela. Similarly, the more red a dot/product is, the more Venezuela has comparative advantage over China.