Norway (NOR) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

About

Norway-Venezuela Trade: In 2022, Norway exported $939k to Venezuela. The main products that Norway exported to Venezuela were Fish: dried, salted, smoked or in brine ($536k), Saturated Acyclic Monocarboxylic Acids ($159k), and Fish Fillets ($149k). Over the past 5 years the exports of Norway to Venezuela have increased at an annualized rate of 1.86%, from $856k in 2017 to $939k in 2022.

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

Venezuela-Norway Trade: In 2022, Venezuela exported $602k to Norway. The main products that Venezuela exported to Norway were Hard Liquor ($264k), Air Pumps ($122k), and Plastic Housewares ($114k). Over the past 5 years the exports of Venezuela to Norway have decreased at an annualized rate of 40.2%, from $7.84M in 2017 to $602k in 2022.

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

Comparison: In 2022, Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

August, 2024

About

Overview In August 2024, Norway exported NOK0 and imported NOK1.76M from Venezuela, resulting in a negative trade balance of NOK1.76M. Between August 2023 and August 2024 the exports of Norway have decreased by NOK-542k (-100%) from NOK542k to NOK0, while imports increased by NOK830k (89.7%) from NOK925k to NOK1.76M.

Trade In August 2024, the top exports of Norway to Venezuela were Live animals other than animals of... (NOK0), Meat and meat preparations (NOK0), Dairy products and birds' eggs (NOK0), Fish (not marine mammals), crustaceans, molluscs... (NOK0), and Cereals and cereal preparations (NOK0). In August 2024 the top imports of Norway from Venezuela were Beverages (NOK63k), Professional, scientific and controlling instruments and... (NOK24k), Chemical materials and products, n.e.s. (NOK7k), Miscellaneous manufactured articles, n.e.s. (NOK2k), and Live animals other than animals of... (NOK0).

Growth In August 2024, the decrease in Norway's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in Essential oils and resinoids and perfume... (NOK-495k or -100%) and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK-100k or -100%). In August 2024, the increase in Norway's year-by-year imports from Venezuela was explained primarily by an increase in product imports in .

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (August 2023 - August 2024)NOK-542k(-100%)

IMPORT GROWTH (August 2023 - August 2024)NOK830k(89.7%)

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

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

For full datasets download visit Bulk Download page.

Explore Venezuela and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Norway exported $939k to Venezuela. The main products exported from Norway to Venezuela were Fish: dried, salted, smoked or in brine ($536k), Saturated Acyclic Monocarboxylic Acids ($159k), and Fish Fillets ($149k). During the last 5 years the exports of Norway to Venezuela have increased at an annualized rate of 1.86%, from $856k in 2017 to $939k in 2022.

In 2017, Venezuela exported $602k to Norway. The main products exported from Venezuela to Norway were Hard Liquor ($264k), Air Pumps ($122k), and Plastic Housewares ($114k). During the last 5 years the exports of Venezuela to Norway have decreased at an annualized rate of 40.2%, from $7.84M in 2022 to $602k in 2017.

Exports from Norway () to Venezuela () (2022)

Exports from Venezuela () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Norway than Venezuela included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Venezuela than Norway included Lebanon ($150M), Montenegro ($75.9M), and Colombia ($99.8M).

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

Comparative Advantage Norway - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Norway had a large net trade with Venezuela in the exports of Animal Products ($685k), Chemical Products ($159k), and Instruments ($65.2k).

During 2017, Venezuela had a large net trade with Norway in the exports of Foodstuffs ($270k), Machines ($164k), and Plastics and Rubbers ($115k).

Economic Complexity

Competitive Landscape

Year

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

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Norway () to Venezuela () (2022)

Exports from Venezuela () to Norway () (2022)

Market Competitiveness

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

Comparative Advantage Norway - Venezuela

Economic Complexity

Competitive Landscape

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

Keep Exploring