2022
Flag  
GDP
$2.01TCURRENT US$
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2012-2022
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GDP GROWTH
-3.67%CURRENT US$
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2022
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GDP PC 
$34,158CURRENT US$
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2012-2022
Flag
GDP PC GROWTH
-2.55%CURRENT US$
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About

Italy-Venezuela In 2022, Italy exported $134M to Venezuela. The main products that Italy exported to Venezuela are Other Furniture ($8.55M), Cars ($5.05M), and Industrial Food Preperation Machinery ($4.65M). During the last 27 years the exports of Italy to Venezuela have decreased at an annualized rate of 4.34%, from $446M in 1995 to $134M in 2022.

In 2020, Italy exported services to Venezuela worth $11.2M, with Other business services ($4.68M), Travel ($3.54M), and Communications services ($1.37M) being the largest in terms of value.

Venezuela-Italy In 2022, Venezuela exported $97.9M to Italy. The main products that Venezuela exported to Italy were Crude Petroleum ($58.7M), Hard Liquor ($16.4M), and Tanned Equine and Bovine Hides ($5.78M). During the last 27 years the exports of Venezuela to Italy have decreased at an annualized rate of 1.75%, from $158M in 1995 to $97.9M in 2022.

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

Comparison In 2022,  Italy ranked 18 in the Economic Complexity Index (ECI 1.24), and 7 in total exports ($634B). 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, Italy exported $134M to Venezuela. The main products exported from Italy to Venezuela were Other Furniture ($8.55M), Cars ($5.05M), and Industrial Food Preperation Machinery ($4.65M). During the last 27 years the exports of Italy to Venezuela have decreased at an annualized rate of 4.34%, from $446M in 1995 to $134M in 2022.

In 2022, Venezuela exported $97.9M to Italy. The main products exported from Venezuela to Italy were Crude Petroleum ($58.7M), Hard Liquor ($16.4M), and Tanned Equine and Bovine Hides ($5.78M). During the last 27 years the exports of Venezuela to Italy have decreased at an annualized rate of 1.75%, from $158M in 1995 to $97.9M in 2022.

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

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

Market Competitiveness

Color
Italy
Top Destination
Germany$78.5B
Venezuela
Top Destination
China$703M

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

In 2021, countries that imported more from Italy than Venezuela were Germany ($78.5B), United States ($68.2B), and France ($63.8B).

In 2019, no countries were registered that imported more from Venezuela than from Italy.

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

Comparative Advantage Italy - Venezuela

Flow
Scale

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

During 2022, Italy had a large net trade with Venezuela in the exports of Machines ($30.7M), Foodstuffs ($17.8M), and Miscellaneous ($15M).

During 2022, Venezuela had a large net trade with Italy in the exports of Mineral Products ($58.7M), Foodstuffs ($17.1M), and Metals ($8.52M).

Service Trade

Bilateral Service Trade

In 2020, Italy exported services to Venezuela worth $11.2M, with Other business services ($4.68M), Travel ($3.54M), and Communications services ($1.37M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Venezuela (Flag) (2020)

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 Italy has comparative advantage over Venezuela. Similarly, the more yellow a dot/product is, the more Venezuela has comparative advantage over Italy.

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

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