2022
Flag  
GDP
$27.9BCURRENT US$
Rnk 106 / 186
2012-2022
Flag
GDP GROWTH
2.87%CURRENT US$
Rnk 161 / 186
2022
Flag
GDP PC 
$18,222CURRENT US$
Rnk 58 / 186
2012-2022
Flag
GDP PC GROWTH
-3.9%CURRENT US$
Rnk 150 / 186

About

Trinidad and Tobago-Venezuela Trade: In 2022, Trinidad and Tobago exported $21.6M to Venezuela. The main products that Trinidad and Tobago exported to Venezuela were Polyacetals ($80.9k), Other Edible Preparations ($40.3k), and Combustion Engines ($24.5k). Over the past 5 years the exports of Trinidad and Tobago to Venezuela have decreased at an annualized rate of 6.35%, from $29.9M in 2017 to $21.6M in 2022.

In 2022, Trinidad and Tobago did not export any services to Venezuela.

Venezuela-Trinidad and Tobago Trade: In 2022, Venezuela exported $2.56M to Trinidad and Tobago. The main products that Venezuela exported to Trinidad and Tobago were Sawn Wood ($1.43M), Glass Scraps ($815k), and Tissue ($366k). Over the past 5 years the exports of Venezuela to Trinidad and Tobago have decreased at an annualized rate of 51.7%,  from $97.5M in 2017 to $2.56M in 2022.

In 2022, Venezuela did not export any services to Trinidad and Tobago.

Comparison In 2022,  Trinidad and Tobago ranked 91 in total exports ($13.9B), and does not have data regarding Economic Complexity Index. That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Trinidad and Tobago exported $21.6M to Venezuela. The main products exported from Trinidad and Tobago to Venezuela were Polyacetals ($80.9k), Other Edible Preparations ($40.3k), and Combustion Engines ($24.5k). During the last 5 years the exports of Trinidad and Tobago to Venezuela have decreased at an annualized rate of 6.35%, from $29.9M in 2017 to $21.6M in 2022.

In 2017, Venezuela exported $2.56M to Trinidad and Tobago. The main products exported from Venezuela to Trinidad and Tobago were Sawn Wood ($1.43M), Glass Scraps ($815k), and Tissue ($366k). During the last 22 years the exports of Venezuela to Trinidad and Tobago have decreased at an annualized rate of 51.7%, from $97.5M in 1995 to $2.56M in 2017.

Exports from Trinidad and Tobago (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to Trinidad and Tobago (Flag) (2022)

Latest Data

Trade between Trinidad and Tobago (Flag) and Venezuela (Flag)

Trinidad and Tobago Exports

Date

Market Competitiveness

Color
Trinidad and Tobago
Top Destination
United States$4.91B
Venezuela
Top Destination
China$703M

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

In 2022, countries that imported more from Trinidad and Tobago than Venezuela included United States ($4.91B), Belgium ($894M), and Morocco ($740M).

In 2022, countries that imported more from Venezuela than Trinidad and Tobago included Turkey ($597M), China ($703M), and Lebanon ($150M).

Difference in imports from Venezuela (Flag) and Trinidad and Tobago (Flag) (2022)

Comparative Advantage Trinidad and Tobago - Venezuela

Flow
Scale

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

During 2022, Trinidad and Tobago had a large net trade with Venezuela in the exports of Plastics and Rubbers ($98.2k), Machines ($75.5k), and Foodstuffs ($44k).

During 2017, Venezuela had a large net trade with Trinidad and Tobago in the exports of Wood Products ($1.45M), Stone And Glass ($901k), and Paper Goods ($394k).

Economic Complexity

Competitive Landscape

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

Product Space of Trinidad and Tobago (Flag) and Venezuela (Flag) (2022)

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