2022
Flag  
GDP
$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH
85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
GDP PC 
$2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH
66.6%CURRENT US$
Rnk 20 / 186

About

India-Venezuela In 2022, India exported $189M to Venezuela. The main products that India exported to Venezuela are Packaged Medicaments ($92.3M), Heavy Mixed Woven Cotton ($14.7M), and Vaccines, blood, antisera, toxins and cultures ($14.1M). During the last 27 years the exports of India to Venezuela have increased at an annualized rate of 9.14%, from $17.8M in 1995 to $189M in 2022.

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

Venezuela-India In 2022, Venezuela exported $228M to India. The main products that Venezuela exported to India were Petroleum Coke ($97.6M), Scrap Iron ($85.2M), and Acyclic Alcohols ($32.5M). During the last 27 years the exports of Venezuela to India have increased at an annualized rate of 11.6%, from $11.9M in 1995 to $228M in 2022.

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

Comparison In 2022,  India ranked 42 in the Economic Complexity Index (ECI 0.57), and 15 in total exports ($468B). That same year, Venezuela ranked 99 in the Economic Complexity Index (ECI -0.9), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $189M to Venezuela. The main products exported from India to Venezuela were Packaged Medicaments ($92.3M), Heavy Mixed Woven Cotton ($14.7M), and Vaccines, blood, antisera, toxins and cultures ($14.1M). During the last 27 years the exports of India to Venezuela have increased at an annualized rate of 9.14%, from $17.8M in 1995 to $189M in 2022.

In 2022, Venezuela exported $228M to India. The main products exported from Venezuela to India were Petroleum Coke ($97.6M), Scrap Iron ($85.2M), and Acyclic Alcohols ($32.5M). During the last 27 years the exports of Venezuela to India have increased at an annualized rate of 11.6%, from $11.9M in 1995 to $228M in 2022.

Exports from India (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top Destination
United States$82.9B
Venezuela
Top Destination
China$703M

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

In 2021, countries that imported more from India than Venezuela were United States ($82.9B), United Arab Emirates ($31.6B), and Netherlands ($17.6B).

In 2021, countries that imported more from Venezuela than India were Montenegro ($75.9M).

Difference in imports from Venezuela (Flag) and India (Flag) (2022)

Comparative Advantage India - Venezuela

Flow
Scale

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

During 2022, India had a large net trade with Venezuela in the exports of Chemical Products ($124M), Textiles ($29.5M), and Metals ($6.93M).

During 2022, Venezuela had a large net trade with India in the exports of Mineral Products ($97.6M), Metals ($92M), and Chemical Products ($33.8M).

Economic Complexity

Competitive Landscape

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

Product Space of India (Flag) and Venezuela (Flag) (2022)

Have questions, comments, or concerns?
Send us an e-mail: [email protected]
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with