Venezuela (VEN) and Cuba (CUB) Trade | The Observatory of Economic Complexity

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Venezuela-Cuba Trade: In 2018, Venezuela exported $2.42B to Cuba. The main products that Venezuela exported to Cuba were N/A. Over the past 7 years the exports of Venezuela to Cuba have increased at an annualized rate of 75.1%, from $47.9M in 2011 to $2.42B in 2018.

In 2018, Venezuela did not export any services to Cuba.

Cuba-Venezuela Trade: In 2018, Cuba exported $44.2M to Venezuela. The main products that Cuba exported to Venezuela were N/A. Over the past 7 years the exports of Cuba to Venezuela have decreased at an annualized rate of 20.2%, from $336M in 2011 to $44.2M in 2018.

In 2018, Cuba did not export any services to Venezuela.

Comparison In 2022, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). That same year, Cuba ranked 161 in total exports ($1.07B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2018, Venezuela exported $2.42B to Cuba. There were not main exports from Venezuela to Cuba in 2018. During the last 7 years the exports of Venezuela to Cuba have increased at an annualized rate of 75.1%, from $47.9M in 2011 to $2.42B in 2018.

In 2013, Cuba exported $44.2M to Venezuela. There were not main exports from Cuba to Venezuela in 2013. During the last 5 years the exports of Cuba to Venezuela have decreased at an annualized rate of 20.2%, from $336M in 2018 to $44.2M in 2013.

Exports from Venezuela () to Cuba () (2018)

Exports from Cuba () to Venezuela () (2018)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Cuba
Top DestinationChina$426M

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

In 2022, countries that imported more from Venezuela than Cuba included Turkey ($597M), United States ($438M), and Spain ($518M).

In 2022, countries that imported more from Cuba than Venezuela included Switzerland ($41.4M), Cyprus ($31.2M), and Portugal ($43.3M).

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

Comparative Advantage Venezuela - Cuba

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2018, Venezuela had a large net trade with Cuba in the exports of .

During 2013, Cuba had a large net trade with Venezuela in the exports of .

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Cuba () (2018)

Exports from Cuba () to Venezuela () (2018)

Market Competitiveness

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

Comparative Advantage Venezuela - Cuba

Economic Complexity

Competitive Landscape

Product Space of Venezuela () and Cuba () (2018)

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