2023
Flag  
GDP
$33.9BCURRENT US$
Rnk 106 / 195
2013-2023
Flag
GDP GROWTH
41.4%CURRENT US$
Rnk 91 / 195
2023
Flag
GDP PC 
$36,551CURRENT US$
Rnk 35 / 195
2013-2023
Flag
GDP PC GROWTH
31.5%CURRENT US$
Rnk 76 / 195

About

Cyprus-Venezuela Trade: In 2023, Cyprus exported $318k to Venezuela. The main products that Cyprus exported to Venezuela were Packaged Medicaments ($255k), High-voltage Protection Equipment ($34.6k), and Liquid Dispersing Machines ($27.8k). Over the past 5 years the exports of Cyprus to Venezuela have increased at an annualized rate of 15%, from $158k in 2018 to $318k in 2023.

In 2019, Cyprus exported services to Venezuela worth $7.84M, with Transportation ($7.84M) being the largest in terms of value.

Venezuela-Cyprus Trade: In 2023, Venezuela exported $220k to Cyprus. The main products that Venezuela exported to Cyprus were Cocoa Paste ($160k), Wood Charcoal ($57.5k), and Base Metal Watches ($1.28k). Over the past 5 years the exports of Venezuela to Cyprus have increased at an annualized rate of 57.3%,  from $22.8k in 2018 to $220k in 2023.

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

Comparison In 2023,  Cyprus ranked 126 in total exports ($5.7B), and does not have data regarding Economic Complexity Index. That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Cyprus exported $318k to Venezuela. The main products exported from Cyprus to Venezuela were Packaged Medicaments ($255k), High-voltage Protection Equipment ($34.6k), and Liquid Dispersing Machines ($27.8k). During the last 5 years the exports of Cyprus to Venezuela have increased at an annualized rate of 15%, from $158k in 2018 to $318k in 2023.

In 2018, Venezuela exported $220k to Cyprus. The main products exported from Venezuela to Cyprus were Cocoa Paste ($160k), Wood Charcoal ($57.5k), and Base Metal Watches ($1.28k). During the last 5 years the exports of Venezuela to Cyprus have increased at an annualized rate of 57.3%, from $22.8k in 2023 to $220k in 2018.

Exports from Cyprus (Flag) to Venezuela (Flag) (2023)

Exports from Venezuela (Flag) to Cyprus (Flag) (2023)

Latest Data

Trade between Cyprus (Flag) and Venezuela (Flag)

Cyprus Exports

Market Competitiveness

Color
Cyprus
Top Destination
Libya$775M
Venezuela
Top Destination
United States$3.81B

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

In 2023, countries that imported more from Cyprus than Venezuela included Libya ($775M), Greece ($626M), and Bermuda ($403M).

In 2023, countries that imported more from Venezuela than Cyprus included United States ($3.81B), China ($739M), and Spain ($670M).

Difference in imports from Venezuela (Flag) and Cyprus (Flag) (2023)

Comparative Advantage Cyprus - Venezuela

Flow
Scale

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

During 2023, Cyprus had a large net trade with Venezuela in the exports of Chemical Products ($255k) and Machines ($63.3k).

During 2018, Venezuela had a large net trade with Cyprus in the exports of Foodstuffs ($160k), Wood Products ($57.5k), and Instruments ($1.33k).

Economic Complexity

Competitive Landscape

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

Product Space of Cyprus (Flag) and Venezuela (Flag) (2023)

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