Venezuela (VEN) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Venezuela-Italy In 2022, Venezuela exported $97.9M to Italy. The main products that Venezuela exported to Italy are 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.

Italy-Venezuela 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). 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.

Comparison In 2022, Venezuela ranked 99 in the Economic Complexity Index (ECI -0.9), and 132 in total exports ($4.3B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.24), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

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.

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.

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

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

Latest Data

Trade between Venezuela () and Italy ()

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Italy
Top DestinationGermany$78.5B

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

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

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

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

Comparative Advantage Venezuela - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

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).

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

Service Trade

Bilateral Service Trade

Ita Year

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 () to Venezuela () (2020)

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Venezuela () and Italy ()

Italy Exports

Market Competitiveness

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

Comparative Advantage Venezuela - Italy

Service Trade

Bilateral Service Trade

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

Economic Complexity

Competitive Landscape

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

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