2022
Flag
 GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
GDP PC
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186

About

Venezuela-Norway Trade: In 2022, Venezuela exported $602k to Norway. The main products that Venezuela exported to Norway were Hard Liquor ($264k), Air Pumps ($122k), and Plastic Housewares ($114k). Over the past 5 years the exports of Venezuela to Norway have decreased at an annualized rate of 40.2%, from $7.84M in 2017 to $602k in 2022.

In 2022, Venezuela did not export any services to Norway.

Norway-Venezuela Trade: In 2022, Norway exported $939k to Venezuela. The main products that Norway exported to Venezuela were Dried/Salted/Smoked/Brined Fish ($536k), Saturated Acyclic Monocarboxylic Acids ($159k), and Fish Fillets ($149k). Over the past 5 years the exports of Norway to Venezuela have increased at an annualized rate of 1.86%,  from $856k in 2017 to $939k in 2022.

In 2022, Norway 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, Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Venezuela exported $602k to Norway. The main products exported from Venezuela to Norway were Hard Liquor ($264k), Air Pumps ($122k), and Plastic Housewares ($114k). During the last 5 years the exports of Venezuela to Norway have decreased at an annualized rate of 40.2%, from $7.84M in 2017 to $602k in 2022.

In 2017, Norway exported $939k to Venezuela. The main products exported from Norway to Venezuela were Dried/Salted/Smoked/Brined Fish ($536k), Saturated Acyclic Monocarboxylic Acids ($159k), and Fish Fillets ($149k). During the last 5 years the exports of Norway to Venezuela have increased at an annualized rate of 1.86%, from $856k in 2022 to $939k in 2017.

Exports from Venezuela (Flag) to Norway (Flag) (2022)

Exports from Norway (Flag) to Venezuela (Flag) (2022)

Latest Data

Trade between Venezuela (Flag) and Norway (Flag)

Norway Exports

Market Competitiveness

Color
Venezuela
Top Destination
China$703M
Norway
Top Destination
Germany$78.1B

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

In 2022, countries that imported more from Venezuela than Norway included Lebanon ($150M), Montenegro ($75.9M), and Colombia ($99.8M).

In 2022, countries that imported more from Norway than Venezuela included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

Difference in imports from Norway (Flag) and Venezuela (Flag) (2022)

Comparative Advantage Venezuela - Norway

Flow
Scale

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

During 2022, Venezuela had a large net trade with Norway in the exports of Foodstuffs ($270k), Machines ($164k), and Plastics and Rubbers ($115k).

During 2017, Norway had a large net trade with Venezuela in the exports of Animal Products ($685k), Chemical Products ($159k), and Instruments ($65.2k).

Economic Complexity

Competitive Landscape

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

Product Space of Venezuela (Flag) and Norway (Flag) (2022)

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