Venezuela (VEN) and India (IND) Trade | OEC - The Observatory of Economic Complexity

About

Venezuela-India In 2020, Venezuela exported $2.03B to India. The main products that Venezuela exported to India are Crude Petroleum ($2B), Scrap Iron ($11.6M), and Scrap Copper ($5.87M). During the last 25 years the exports of Venezuela to India have increased at an annualized rate of 23.1%, from $11.2M in 1995 to $2.03B in 2020.

In 2020, Venezuela did not export any services to India.

India-Venezuela In 2020, India exported $758M to Venezuela . The main products that India exported to Venezuela were Refined Petroleum ($662M), Packaged Medicaments ($36.2M), and Blood, antisera, vaccines, toxins and cultures ($17.1M). During the last 25 years the exports of India to Venezuela have increased at an annualized rate of 16.2%, from $17.7M in 1995 to $758M in 2020.

In 2020, India did not export any services to Venezuela.

Comparison In 2020, Venezuela ranked 105 in the Economic Complexity Index (ECI -1.07), and 118 in total exports ($4.26B). That same year, India ranked 40 in the Economic Complexity Index (ECI 0.56), and 18 in total exports ($284B).

Historical Data

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Bilateral Trade by Products

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Depth

Value

Compare to

Year

In 2020, Venezuela exported $2.03B to India. The main products exported from Venezuela to India were Crude Petroleum ($2B), Scrap Iron ($11.6M), and Scrap Copper ($5.87M). During the last 25 years the exports of Venezuela to India have increased at an annualized rate of 23.1%, from $11.2M in 1995 to $2.03B in 2020.

In 2020, India exported $758M to Venezuela. The main products exported from India to Venezuela were Refined Petroleum ($662M), Packaged Medicaments ($36.2M), and Blood, antisera, vaccines, toxins and cultures ($17.1M). During the last 25 years the exports of India to Venezuela have increased at an annualized rate of 16.2%, from $17.7M in 1995 to $758M in 2020.

Latest Data

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India Exports

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Date

Market Competitiveness

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Measure

SectionYear

Venezuela
Top Destination: India, $2.03B

India
Top Destination: United States, $49.7B

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

In 2019, no countries were registered that imported more from Venezuela than from India.

In 2019, countries that imported more from India than Venezuela were United States ($49.7B), China ($18.5B), and United Arab Emirates ($18.1B).

Comparative Advantage Venezuela - India

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Flow

Year

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

During 2020, Venezuela had a large net trade with India in the exports of Mineral Products ($2B), Metals ($25.6M), and Vegetable Products ($1.25M).

During 2020, India had a large net trade with Venezuela in the exports of Mineral Products ($662M), Chemical Products ($60M), and Vegetable Products ($16.6M).

Tariff Section

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Tariffs

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This section shows import tariffs for products traded between Venezuela and India (using the HS6 product classification and the last year reported).

In 2019, the products from Venezuela that paid the highest import tariffs to enter India were Milk not concentrated nor sweetened < 1% fat (40%)and Milk not concentrated nor sweetened 1-6% fat (40%).

In 2019, the products from India that paid the highest import tariffs to enter Venezuela were Food preparations nes (150%)and Grape wines, sparkling (150%).

*The tariffs present between Venezuela and India are:
136: Most Favoured Nation duty rate treatement
136: Most Favoured Nation duty rate treatement

Economic Complexity

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Competitive Landscape

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Year

This visualization show the product space at the HS4 level colored from blue to red. This mean that the more blue a dot/product is, the more Venezuela has comparative advantage over India. Similarly, the more red a dot/product is, the more India has comparative advantage over Venezuela.

About

Historical Data

Bilateral Trade by Products

Latest Data

India Exports

Market Competitiveness

Comparative Advantage Venezuela - India

Tariff Section

Tariffs

Economic Complexity

Competitive Landscape

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