Germany (DEU) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Germany-Venezuela Trade: In 2022, Germany exported $87.4M to Venezuela. The main products that Germany exported to Venezuela were Integrated Circuits ($8.61M), Coated Flat-Rolled Iron ($6.63M), and Vaccines, blood, antisera, toxins and cultures ($5.77M). Over the past 5 years the exports of Germany to Venezuela have decreased at an annualized rate of 14.7%, from $193M in 2017 to $87.4M in 2022.

In 2020, Germany exported services to Venezuela worth $1.14M, with Government services, n.i.e. ($1.14M) being the largest in terms of value.

Venezuela-Germany Trade: In 2022, Venezuela exported $36.9M to Germany. The main products that Venezuela exported to Germany were Iron Reductions ($17.4M), Hard Liquor ($9.3M), and Coffee ($4.21M). Over the past 5 years the exports of Venezuela to Germany have decreased at an annualized rate of 12.9%, from $257M in 2017 to $36.9M in 2022.

In 2022, Venezuela did not export any services to Germany.

Comparison: In 2022, Germany ranked 5 in the Economic Complexity Index (ECI 1.78), and 3 in total exports ($1.6T). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

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Overview In N/A, Germany exported €N/A and imported €N/A from Venezuela, resulting in a N/A trade balance of €N/A. Between N/A and N/A the exports of Germany have N/A by €N/A (N/A) from €N/A to €N/A, while imports N/A by €N/A (N/A) from €N/A to €N/A.

Trade In N/A, the top exports of Germany to Venezuela were Machine-tools (€528k), Articles of plastic (€486k), Other chemical semi-finished products (€317k), Other machinery (€302k), and Machinery for electricity production, distribution (€220k). In N/A the top imports of Germany from Venezuela were Coffee (€537k), Spirits (€307k), Other skins and hides, raw (€174k), Leguminous vegetables (€20k), and Other prefabricated chemicals (€3k).

Origins In N/A the exports of Germany were mainly from Hesse (€1.37M), North Rhine-Westphalia (€1.26M), Berlin (€996k), Baden-Württemberg (€830k), and Bavaria (€790k), while imports destinations were mainly Baden-Württemberg (€4.57M), Brandenburg (€670k), Hamburg (€583k), North Rhine-Westphalia (€82k), and Bavaria (€29k).

Growth In N/A, the N/A in Germany's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in Other electric machinery, apparatus and appliances (€-3.95M or -98.9%), Plates and sheets of iron or... (€-78k or -35.1%), and Basic pharmaceutical products (€-73k or -94.8%). In N/A, the N/A in Germany'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 (%)

MAIN EXPORTER (N/A)Hesse€1.37M

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

To check Venezuela and Germany 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 2022, Germany exported $87.4M to Venezuela. The main products exported from Germany to Venezuela were Integrated Circuits ($8.61M), Coated Flat-Rolled Iron ($6.63M), and Vaccines, blood, antisera, toxins and cultures ($5.77M). During the last 5 years the exports of Germany to Venezuela have decreased at an annualized rate of 14.7%, from $193M in 2017 to $87.4M in 2022.

In 2017, Venezuela exported $36.9M to Germany. The main products exported from Venezuela to Germany were Iron Reductions ($17.4M), Hard Liquor ($9.3M), and Coffee ($4.21M). During the last 5 years the exports of Venezuela to Germany have decreased at an annualized rate of 12.9%, from $257M in 2022 to $36.9M in 2017.

Exports from Germany () to Venezuela () (2022)

Exports from Venezuela () to Germany () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Germany
Top DestinationUnited States$153B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Germany than Venezuela included United States ($153B), France ($120B), and Netherlands ($109B).

In 2022, no countries were registered that imported more from Venezuela than from Germany.

Difference in imports from Venezuela () and Germany () (2022)

Comparative Advantage Germany - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Germany had a large net trade with Venezuela in the exports of Machines ($32.7M), Chemical Products ($18.2M), and Metals ($10.2M).

During 2017, Venezuela had a large net trade with Germany in the exports of Metals ($20.2M), Foodstuffs ($9.92M), and Vegetable Products ($4.41M).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Germany () to Venezuela () (2022)

Exports from Venezuela () to Germany () (2022)

Market Competitiveness

Difference in imports from Venezuela () and Germany () (2022)

Comparative Advantage Germany - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Germany () and Venezuela () (2022)

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