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2022
Flag → Flag
Exports $13MRnk 29 / 126
2022
Flag → Flag
Top Product $7.42MCoal Briquettes
2022
Flag → Flag
Exports $30.7MRnk 147 / 224
2022
Flag → Flag
Top Product $19.8MHard Liquor
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag
 GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
GDP PC$45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186

About

Venezuela-United Kingdom Trade: In 2022, Venezuela exported $13M to United Kingdom. The main products that Venezuela exported to United Kingdom were Coal Briquettes ($7.42M), Crustaceans ($1.61M), and Hard Liquor ($1.41M). Over the past 5 years the exports of Venezuela to United Kingdom have decreased at an annualized rate of 34.6%, from $109M in 2017 to $13M in 2022.

In 2022, Venezuela did not export any services to United Kingdom.

United Kingdom-Venezuela Trade: In 2022, United Kingdom exported $30.7M to Venezuela. The main products that United Kingdom exported to Venezuela were Hard Liquor ($19.8M), Revenue Stamps ($3.2M), and Packaged Medicaments ($1.24M). Over the past 5 years the exports of United Kingdom to Venezuela have decreased at an annualized rate of 18.6%,  from $86.1M in 2017 to $30.7M in 2022.

In 2019, United Kingdom exported services to Venezuela worth $29.3M, with Government services, n.i.e. ($17.8M) and Other business services ($11.5M) 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, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Venezuela exported $13M to United Kingdom. The main products exported from Venezuela to United Kingdom were Coal Briquettes ($7.42M), Crustaceans ($1.61M), and Hard Liquor ($1.41M). During the last 5 years the exports of Venezuela to United Kingdom have decreased at an annualized rate of 34.6%, from $109M in 2017 to $13M in 2022.

In 2017, United Kingdom exported $30.7M to Venezuela. The main products exported from United Kingdom to Venezuela were Hard Liquor ($19.8M), Revenue Stamps ($3.2M), and Packaged Medicaments ($1.24M). During the last 5 years the exports of United Kingdom to Venezuela have decreased at an annualized rate of 18.6%, from $86.1M in 2022 to $30.7M in 2017.

Exports from Venezuela (Flag) to United Kingdom (Flag) (2022)

Exports from United Kingdom (Flag) to Venezuela (Flag) (2022)

Latest Data

Trade between Venezuela (Flag) and United Kingdom (Flag)

United Kingdom Exports

Market Competitiveness

Color
Venezuela
Top DestinationChina$703M
United Kingdom
Top DestinationUnited States$61.8B

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

In 2022, countries that imported more from Venezuela than United Kingdom included Montenegro ($75.9M).

In 2022, countries that imported more from United Kingdom than Venezuela included United States ($61.8B), Netherlands ($41.9B), and Germany ($40.6B).

Difference in imports from United Kingdom (Flag) and Venezuela (Flag) (2022)

Comparative Advantage Venezuela - United Kingdom

Flow
Scale

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

During 2022, Venezuela had a large net trade with United Kingdom in the exports of Mineral Products ($7.42M), Animal Products ($1.62M), and Foodstuffs ($1.44M).

During 2017, United Kingdom had a large net trade with Venezuela in the exports of Foodstuffs ($19.9M), Arts and Antiques ($3.2M), and Machines ($2.17M).

Bilateral Service Trade

In 2019, United Kingdom exported services to Venezuela worth $29.3M, with Government services, n.i.e. ($17.8M) and Other business services ($11.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom (Flag) to Venezuela (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Venezuela (Flag) and United Kingdom (Flag) (2022)

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