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Pricing

2019
Flag → Flag
Exports $92.5MRnk 32 / 0
2019
Flag → Flag
Exports $14.5MRnk 77 / 0
2022
Flag
Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
GDP PC $15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Russia-Venezuela Trade: In 2019, Russia exported $92.5M to Venezuela. The main products that Russia exported to Venezuela were N/A. Over the past 5 years the exports of Russia to Venezuela have decreased at an annualized rate of 25.1%, from $394M in 2014 to $92.5M in 2019.

In 2017, Russia exported services to Venezuela worth $6M, with Other business services ($5.2M), Computer and information services ($500k), and Personal, cultural, and recreational services ($200k) being the largest in terms of value.

Venezuela-Russia Trade: In 2019, Venezuela exported $1.57M to Russia. The main products that Venezuela exported to Russia were N/A. Over the past 5 years the exports of Venezuela to Russia have decreased at an annualized rate of 12.2%,  from $3.03M in 2014 to $1.57M in 2019.

In 2019, Venezuela did not export any services to Russia.

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

December, 2021

About

Overview In December 2021, Russia exported $265k and imported $231k from Venezuela, resulting in a positive trade balance of $34.6k. Between December 2020 and December 2021 the exports of Russia have increased by $264k (18.8k%) from $1.4k to $265k, while imports decreased by $-26k (-10.1%) from $257k to $231k.

Trade In December 2021, the top exports of Russia to Venezuela were . In December 2021 the top imports of Russia from Venezuela were .

Origins In December 2021 the exports of Russia were mainly from N/A, while imports destinations were mainly N/A.

Growth In December 2021, the increase in Russia's year-by-year exports to Venezuela was explained primarily by an increase in product exports in . In September 2020, the decrease in Russia's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2020 - December 2021)$264k(18.8k%)
IMPORT GROWTH (September 2019 - September 2020)$-26k(-10.1%)

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

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

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2019, Russia exported $92.5M to Venezuela. There were not main exports from Russia to Venezuela in 2019. During the last 5 years the exports of Russia to Venezuela have decreased at an annualized rate of 85.9%, from $675k in 2017 to $92.5M in 2019.

In 2014, Venezuela exported $1.57M to Russia. There were not main exports from Venezuela to Russia in 2014. During the last 5 years the exports of Venezuela to Russia have decreased at an annualized rate of 9.56%, from $9.19M in 2022 to $1.57M in 2014.

Exports from Russia (Flag) to Venezuela (Flag) (2019)

Exports from Venezuela (Flag) to Russia (Flag) (2019)

Market Competitiveness

Color
Russia
Top DestinationChina$101B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Russia than Venezuela included China ($101B), India ($40.4B), and Germany ($27.7B).

In 2022, countries that imported more from Venezuela than Russia included Montenegro ($75.9M), Dominican Republic ($76.7M), and Guyana ($28.9M).

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

Comparative Advantage Russia - Venezuela

Flow
Scale

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

During 2019, Russia had a large net trade with Venezuela in the exports of .

During 2014, Venezuela had a large net trade with Russia in the exports of .

Economic Complexity

Competitive Landscape

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

Product Space of Russia (Flag) and Venezuela (Flag) (2019)

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