Venezuela (VEN) and Madagascar (MDG) Trade | The Observatory of Economic Complexity

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Venezuela-Madagascar Trade: In 2020, Venezuela exported $3.95k to Madagascar. The main products that Venezuela exported to Madagascar were N/A. Over the past 7 years the exports of Venezuela to Madagascar have increased at an annualized rate of 26.5%, from $763 in 2013 to $3.95k in 2020.

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

Madagascar-Venezuela Trade: In 2020, Madagascar exported $35.9k to Venezuela. The main products that Madagascar exported to Venezuela were Cloves ($27k) and Pepper ($8.93k). Over the past 7 years the exports of Madagascar to Venezuela have increased at an annualized rate of 52.7%, from $4.32k in 2013 to $35.9k in 2020.

In 2020, Madagascar 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, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2020, Venezuela exported $3.95k to Madagascar. There were not main exports from Venezuela to Madagascar in 2020. During the last 7 years the exports of Venezuela to Madagascar have increased at an annualized rate of 26.5%, from $763 in 2013 to $3.95k in 2020.

In 2017, Madagascar exported $35.9k to Venezuela. The main products exported from Madagascar to Venezuela were Cloves ($27k) and Pepper ($8.93k). During the last 5 years the exports of Madagascar to Venezuela have increased at an annualized rate of 52.7%, from $4.32k in 2022 to $35.9k in 2017.

Exports from Venezuela () to Madagascar () (2022)

Exports from Madagascar () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Madagascar ()

Madagascar Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Madagascar
Top DestinationUnited States$756M

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

In 2022, countries that imported more from Venezuela than Madagascar included Turkey ($597M), Spain ($518M), and Brazil ($361M).

In 2022, countries that imported more from Madagascar than Venezuela included France ($634M), Japan ($448M), and United States ($756M).

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

Comparative Advantage Venezuela - Madagascar

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2020, Venezuela had a large net trade with Madagascar in the exports of .

During 2017, Madagascar had a large net trade with Venezuela in the exports of Vegetable Products ($35.9k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Madagascar () (2022)

Exports from Madagascar () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Madagascar ()

Madagascar Exports

Market Competitiveness

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

Comparative Advantage Venezuela - Madagascar

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Venezuela () and Madagascar () (2022)

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