Flag Venezuela / India Flag

2021
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Exports
: $85.5M, Rnk 9 / 119

2021
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Top Product
: $35.5M, Acyclic Alcohols

2021
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Exports
: $312M, Rnk 101 / 214

2021
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Top Product
: $141M, Refined Petroleum

2021
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Economic Complexity (ECI)
: ECI -1.08, Rnk 110 / 131

2021
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Economic Complexity (ECI)
: ECI 0.61, Rnk 41 / 131

2021
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 GDP
: $3.17T, CURRENT US$
Rnk 6 / 182

2011-2021
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GDP GROWTH
: 74.1%, CURRENT US$
Rnk 26 / 182

2021
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GDP PC
: $2,277, CURRENT US$
Rnk 137 / 182

2011-2021
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GDP PC GROWTH
: 56.2%, CURRENT US$
Rnk 20 / 182

Venezuela-India In 2021, Venezuela exported $85.5M to India. The main products that Venezuela exported to India are Acyclic Alcohols ($35.5M), Scrap Iron ($33.7M), and Scrap Aluminium ($4.87M). During the last 26 years the exports of Venezuela to India have increased at an annualized rate of 8.14%, from $11.2M in 1995 to $85.5M in 2021.

In 2021, Venezuela did not export any services to India.

India-Venezuela In 2021, India exported $312M to Venezuela. The main products that India exported to Venezuela were Refined Petroleum ($141M), Packaged Medicaments ($66.4M), and Rice ($33.6M). During the last 26 years the exports of India to Venezuela have increased at an annualized rate of 11.7%, from $17.7M in 1995 to $312M in 2021.

In 2021, India did not export any services to Venezuela.

Comparison In 2021,  Venezuela ranked 110 in the Economic Complexity Index (ECI -1.08), and 135 in total exports ($3.2B). That same year, India ranked 41 in the Economic Complexity Index (ECI 0.61), and 14 in total exports ($403B).

Historical Data

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Bilateral Trade by Products

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Depth
Value

In 2021, Venezuela exported $85.5M to India. The main products exported from Venezuela to India were Acyclic Alcohols ($35.5M), Scrap Iron ($33.7M), and Scrap Aluminium ($4.87M). During the last 26 years the exports of Venezuela to India have increased at an annualized rate of 8.14%, from $11.2M in 1995 to $85.5M in 2021.

In 2021, India exported $312M to Venezuela. The main products exported from India to Venezuela were Refined Petroleum ($141M), Packaged Medicaments ($66.4M), and Rice ($33.6M). During the last 26 years the exports of India to Venezuela have increased at an annualized rate of 11.7%, from $17.7M in 1995 to $312M in 2021.

Market Competitiveness

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Color

Venezuela
Top Destination
: China, $843M

India
Top Destination
: United States, $71.2B

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 2021, countries that imported more from India than Venezuela were United States ($71.2B), United Arab Emirates ($25.4B), and China ($23.1B).

Comparative Advantage Venezuela - India

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Flow
Scale

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

During 2021, Venezuela had a large net trade with India in the exports of Metals ($45.3M), Chemical Products ($36.7M), and Vegetable Products ($1.97M).

During 2021, India had a large net trade with Venezuela in the exports of Mineral Products ($142M), Chemical Products ($91.5M), and Vegetable Products ($34.3M).

Economic Complexity

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Competitive Landscape

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