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2022
Flag → Flag
Exports $134MRnk 111 / 221
2022
Flag → Flag
Top Product $8.55MOther Furniture
2022
Flag → Flag
Exports $97.9MRnk 11 / 126
2022
Flag → Flag
Top Product $58.7MCrude Petroleum
2022
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Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
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Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
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GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
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GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
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GDP PC $34,158CURRENT US$
Rnk 30 / 186
2012-2022
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GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Italy-Venezuela Trade: In 2022, Italy exported $134M to Venezuela. The main products that Italy exported to Venezuela were Other Furniture ($8.55M), Cars ($5.05M), and Industrial Food Preperation Machinery ($4.65M). Over the past 5 years the exports of Italy to Venezuela have decreased at an annualized rate of 4.1%, from $166M in 2017 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 Trade: 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). Over the past 5 years the exports of Venezuela to Italy have decreased at an annualized rate of 10.7%,  from $172M in 2017 to $97.9M in 2022.

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

Comparison: In 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

N/A

About

Overview In N/A, Italy 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 Italy 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.

Growth In N/A, the N/A in Italy's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in . In N/A, the N/A in Italy's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in N/A.

Latest Trade

Time Scale
Flow
Value
Depth

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

To check Venezuela and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Venezuela and Italy Data

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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 5 years the exports of Italy to Venezuela have decreased at an annualized rate of 4.1%, from $166M in 2017 to $134M in 2022.

In 2017, 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 5 years the exports of Venezuela to Italy have decreased at an annualized rate of 10.7%, from $172M in 2022 to $97.9M in 2017.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$78.5B
Venezuela
Top DestinationChina$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 2022, countries that imported more from Italy than Venezuela included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

In 2022, 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 2017, Venezuela had a large net trade with Italy in the exports of Mineral Products ($58.7M), Foodstuffs ($17.1M), and Metals ($8.52M).

Economic Complexity

Competitive Landscape

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

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

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