2023
Flag
 GDP
$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH
92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
GDP PC
$2,481CURRENT US$
Rnk 148 / 196
2013-2023
Flag
GDP PC GROWTH
73.1%CURRENT US$
Rnk 22 / 195

About

Venezuela-India Trade: In 2023, Venezuela exported $202M to India. The main products that Venezuela exported to India were Petroleum Coke ($111M), Scrap Iron ($43.4M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($17.9M). Over the past 5 years the exports of Venezuela to India have decreased at an annualized rate of 51.4%, from $7.43B in 2018 to $202M in 2023.

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

India-Venezuela Trade: In 2023, India exported $155M to Venezuela. The main products that India exported to Venezuela were Packaged Medicaments ($68.7M), Vaccines, blood, antisera, toxins and cultures ($21.3M), and Unglazed Ceramics ($10M). Over the past 5 years the exports of India to Venezuela have increased at an annualized rate of 16.3%,  from $73.1M in 2018 to $155M in 2023.

In 2023, India 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, India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Venezuela exported $202M to India. The main products exported from Venezuela to India were Petroleum Coke ($111M), Scrap Iron ($43.4M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($17.9M). During the last 5 years the exports of Venezuela to India have decreased at an annualized rate of 51.4%, from $7.43B in 2018 to $202M in 2023.

In 2018, India exported $155M to Venezuela. The main products exported from India to Venezuela were Packaged Medicaments ($68.7M), Vaccines, blood, antisera, toxins and cultures ($21.3M), and Unglazed Ceramics ($10M). During the last 5 years the exports of India to Venezuela have increased at an annualized rate of 16.3%, from $73.1M in 2023 to $155M in 2018.

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

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

Latest Data

Trade between Venezuela (Flag) and India (Flag)

India Exports

Market Competitiveness

Color
Venezuela
Top Destination
United States$3.81B
India
Top Destination
United States$85.5B

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 2023, countries that imported more from Venezuela than India included Dominica ($10.5M).

In 2023, countries that imported more from India than Venezuela included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

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

Comparative Advantage Venezuela - India

Flow
Scale

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

During 2023, Venezuela had a large net trade with India in the exports of Mineral Products ($111M), Metals ($65.5M), and Chemical Products ($20.1M).

During 2018, India had a large net trade with Venezuela in the exports of Chemical Products ($107M), Textiles ($13M), and Stone And Glass ($10.7M).

Economic Complexity

Competitive Landscape

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

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

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