2023
Flag
 GDP
$363BCURRENT US$
Rnk 42 / 195
2013-2023
Flag
GDP GROWTH
-4.87%CURRENT US$
Rnk 176 / 195
2023
Flag
GDP PC
$6,947CURRENT US$
Rnk 104 / 196
2013-2023
Flag
GDP PC GROWTH
-16.1%CURRENT US$
Rnk 173 / 195

About

Venezuela-Colombia Trade: In 2023, Venezuela exported $131M to Colombia. The main products that Venezuela exported to Colombia were Nitrogenous Fertilizers ($39.6M), Electric Batteries ($12.3M), and Tissue ($10.9M). Over the past 5 years the exports of Venezuela to Colombia have decreased at an annualized rate of 0.88%, from $137M in 2018 to $131M in 2023.

In 2023, Venezuela did not export any services to Colombia.

Colombia-Venezuela Trade: In 2023, Colombia exported $673M to Venezuela. The main products that Colombia exported to Venezuela were Confectionery Sugar ($61.9M), Baked Goods ($27.8M), and Mixed Mineral or Chemical Fertilizers ($26.8M). Over the past 5 years the exports of Colombia to Venezuela have increased at an annualized rate of 9.61%,  from $354M in 2018 to $673M in 2023.

In 2023, Colombia did not export any services to Venezuela.

Comparison: In 2023,  Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B). That same year, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Venezuela exported $131M to Colombia. The main products exported from Venezuela to Colombia were Nitrogenous Fertilizers ($39.6M), Electric Batteries ($12.3M), and Tissue ($10.9M). During the last 5 years the exports of Venezuela to Colombia have decreased at an annualized rate of 0.88%, from $137M in 2018 to $131M in 2023.

In 2018, Colombia exported $673M to Venezuela. The main products exported from Colombia to Venezuela were Confectionery Sugar ($61.9M), Baked Goods ($27.8M), and Mixed Mineral or Chemical Fertilizers ($26.8M). During the last 5 years the exports of Colombia to Venezuela have increased at an annualized rate of 9.61%, from $354M in 2023 to $673M in 2018.

Exports from Venezuela (Flag) to Colombia (Flag) (2023)

Exports from Colombia (Flag) to Venezuela (Flag) (2023)

Latest Data

Trade between Venezuela (Flag) and Colombia (Flag)

Colombia Exports

Market Competitiveness

Color
Venezuela
Top Destination
United States$3.81B
Colombia
Top Destination
United States$14.8B

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

In 2023, countries that imported more from Venezuela than Colombia included Lebanon ($106M), Tunisia ($10.7M), and Dominica ($10.5M).

In 2023, countries that imported more from Colombia than Venezuela included United States ($14.8B), Panama ($4.66B), and India ($2.51B).

Difference in imports from Colombia (Flag) and Venezuela (Flag) (2023)

Comparative Advantage Venezuela - Colombia

Flow
Scale

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

During 2023, Venezuela had a large net trade with Colombia in the exports of Chemical Products ($50.7M), Metals ($23.3M), and Machines ($14.5M).

During 2018, Colombia had a large net trade with Venezuela in the exports of Chemical Products ($167M), Foodstuffs ($160M), and Plastics and Rubbers ($79.3M).

Economic Complexity

Competitive Landscape

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

Product Space of Venezuela (Flag) and Colombia (Flag) (2023)

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