Flag China / Venezuela Flag

2019
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Exports
: $1.54B, Rnk 102 / 209

2019
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Top Product
: $130M, Rubber Tires

2019
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Exports
: $4.19B, Rnk 2 / 110

2019
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Top Product
: $3.87B, Crude Petroleum

2019
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Economic Complexity (ECI)
: ECI 1.01, Rnk 29 / 146

2019
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Economic Complexity (ECI)
: ECI -0.79, Rnk 113 / 146

2019
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GDP
: $14.3T, CURRENT US$
Rnk 2 / 187

2009-2019
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GDP GROWTH
: 181%, CURRENT US$
Rnk 6 / 187

2019
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GDP PC 
: $10,262, CURRENT US$
Rnk 71 / 187

2009-2019
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GDP PC GROWTH
: 168%, CURRENT US$
Rnk 2 / 187

China-Venezuela In 2019, China exported $1.54B to Venezuela. The main products that China exported to Venezuela are Rubber Tires ($130M), Toilet Paper ($71.2M), and Soybean Meal ($63.1M). During the last 24 years the exports of China to Venezuela have increased at an annualized rate of 13.9%, from $67.4M in 1995 to $1.54B in 2019.

In 2019, China did not export any services to Venezuela.

Venezuela-China In 2019, Venezuela exported $4.19B to China . The main products that Venezuela exported to China were Crude Petroleum ($3.87B), Acyclic Alcohols ($90.7M), and Iron Ore ($80.7M). During the last 24 years the exports of Venezuela to China have increased at an annualized rate of 26.9%, from $13.7M in 1995 to $4.19B in 2019.

In 2019, Venezuela did not export any services to China.

Comparison In 2019,  China ranked 29 in the Economic Complexity Index (ECI 1.01), and 1 in total exports ($2.57T). That same year, Venezuela ranked 113 in the Economic Complexity Index (ECI -0.79), and 80 in total exports ($14.7B).

Historical Data

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Bilateral Trade by Products

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Depth
Value
Compare to

In 2019, China exported $1.54B to Venezuela. The main products exported from China to Venezuela were Rubber Tires ($130M), Toilet Paper ($71.2M), and Soybean Meal ($63.1M). During the last 24 years the exports of China to Venezuela have increased at an annualized rate of 13.9%, from $67.4M in 1995 to $1.54B in 2019.

In 2019, Venezuela exported $4.19B to China. The main products exported from Venezuela to China were Crude Petroleum ($3.87B), Acyclic Alcohols ($90.7M), and Iron Ore ($80.7M). During the last 24 years the exports of Venezuela to China have increased at an annualized rate of 26.9%, from $13.7M in 1995 to $4.19B in 2019.

Market Competitiveness

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Measure

China
Top Destination
: United States, $429B

Venezuela
Top Destination
: India, $4.98B

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 2019, countries that imported more from China than Venezuela were United States ($429B), Hong Kong ($268B), and Japan ($152B).

In 2019, 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 2019, China had a large net trade with Venezuela in the exports of Machines ($288M), Chemical Products ($248M), and Plastics and Rubbers ($178M).

During 2019, Venezuela had a large net trade with China in the exports of Mineral Products ($4.01B), Chemical Products ($90.7M), and Metals ($89.3M).

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%).

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

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.