Venezuela (VEN) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Venezuela-Belgium Trade: In 2022, Venezuela exported $15.8M to Belgium. The main products that Venezuela exported to Belgium were Scrap Copper ($11M), Carbides ($2.28M), and Hard Liquor ($1.44M). Over the past 5 years the exports of Venezuela to Belgium have decreased at an annualized rate of 27.6%, from $79.4M in 2017 to $15.8M in 2022.

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

Belgium-Venezuela Trade: In 2022, Belgium exported $30.6M to Venezuela. The main products that Belgium exported to Venezuela were Malt ($12.9M), Other Frozen Vegetables ($4.47M), and Refined Petroleum ($1.17M). Over the past 5 years the exports of Belgium to Venezuela have decreased at an annualized rate of 1.44%, from $32.9M in 2017 to $30.6M in 2022.

In 2019, Belgium exported services to Venezuela worth $2.24M, with Other business services ($2.24M) being the largest in terms of value.

Comparison: In 2022, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Venezuela exported $15.8M to Belgium. The main products exported from Venezuela to Belgium were Scrap Copper ($11M), Carbides ($2.28M), and Hard Liquor ($1.44M). During the last 5 years the exports of Venezuela to Belgium have decreased at an annualized rate of 27.6%, from $79.4M in 2017 to $15.8M in 2022.

In 2017, Belgium exported $30.6M to Venezuela. The main products exported from Belgium to Venezuela were Malt ($12.9M), Other Frozen Vegetables ($4.47M), and Refined Petroleum ($1.17M). During the last 5 years the exports of Belgium to Venezuela have decreased at an annualized rate of 1.44%, from $32.9M in 2022 to $30.6M in 2017.

Exports from Venezuela () to Belgium () (2022)

Exports from Belgium () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Belgium ()

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Belgium
Top DestinationGermany$91.9B

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

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

In 2022, countries that imported more from Belgium than Venezuela included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

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

Comparative Advantage Venezuela - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Belgium in the exports of Metals ($11M), Chemical Products ($2.28M), and Foodstuffs ($1.64M).

During 2017, Belgium had a large net trade with Venezuela in the exports of Vegetable Products ($13.2M), Foodstuffs ($5.98M), and Chemical Products ($2.98M).

Potential Exports

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Bilateral Service Trade

Bel Year

In 2019, Belgium exported services to Venezuela worth $2.24M, with Other business services ($2.24M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Belgium () to Venezuela () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Belgium () (2022)

Exports from Belgium () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Belgium ()

Belgium Exports

Market Competitiveness

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

Comparative Advantage Venezuela - Belgium

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Belgium () to Venezuela () (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

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