Venezuela (VEN) and Turkey (TUR) Trade | The Observatory of Economic Complexity

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Venezuela-Turkey Trade: In 2022, Venezuela exported $597M to Turkey. The main products that Venezuela exported to Turkey were Scrap Iron ($404M), Iron Reductions ($105M), and Petroleum Coke ($70.7M). Over the past 5 years the exports of Venezuela to Turkey have increased at an annualized rate of 42.5%, from $102M in 2017 to $597M in 2022.

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

Turkey-Venezuela Trade: In 2022, Turkey exported $366M to Venezuela. The main products that Turkey exported to Venezuela were Pasta ($116M), Wheat Flours ($90.1M), and Other Prepared Meat ($17.2M). Over the past 5 years the exports of Turkey to Venezuela have increased at an annualized rate of 57%, from $38.4M in 2017 to $366M in 2022.

In 2022, Turkey 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, Turkey ranked 41 in the Economic Complexity Index (ECI 0.6), and 29 in total exports ($262B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Venezuela exported $597M to Turkey. The main products exported from Venezuela to Turkey were Scrap Iron ($404M), Iron Reductions ($105M), and Petroleum Coke ($70.7M). During the last 5 years the exports of Venezuela to Turkey have increased at an annualized rate of 42.5%, from $102M in 2017 to $597M in 2022.

In 2017, Turkey exported $366M to Venezuela. The main products exported from Turkey to Venezuela were Pasta ($116M), Wheat Flours ($90.1M), and Other Prepared Meat ($17.2M). During the last 5 years the exports of Turkey to Venezuela have increased at an annualized rate of 57%, from $38.4M in 2022 to $366M in 2017.

Exports from Venezuela () to Turkey () (2022)

Exports from Turkey () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Turkey ()

Turkey Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Turkey
Top DestinationGermany$21.9B

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

In 2022, no countries were registered that imported more from Venezuela than from Turkey.

In 2022, countries that imported more from Turkey than Venezuela included Germany ($21.9B), United States ($17.1B), and Iraq ($13.7B).

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

Comparative Advantage Venezuela - Turkey

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Turkey in the exports of Metals ($519M), Mineral Products ($70.7M), and Vegetable Products ($2.7M).

During 2017, Turkey had a large net trade with Venezuela in the exports of Foodstuffs ($170M), Vegetable Products ($90.6M), and Chemical Products ($23.6M).

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 Turkey. This means that a dot/product with the flag of Venezuela indicates it has a comparative advantage over Turkey. Similarly, a dot/product with the flag of Turkey indicates it has a comparative advantage over Venezuela.

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Turkey () (2022)

Exports from Turkey () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Turkey ()

Turkey Exports

Market Competitiveness

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

Comparative Advantage Venezuela - Turkey

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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