2023
Exports
$27.4MWorld Rnk 133 / 214
Flag Rnk 22 / 650
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$666MWorld Rnk 129 / 226
Flag Rnk 1 / 1041
2023
ECONOMIC COMPLEXITY of Venezuela
-0.82Rnk 100 / 132

About

Exports In 2023, Venezuela exported $27.4M in Refined Petroleum, making it the 133rd largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 22nd most exported product in Venezuela. The main destination of Refined Petroleum exports from Venezuela are: Guyana ($16.9M), Dominica ($10.4M), Colombia ($4.26k), United States ($2.95k), and Saudi Arabia ($2.41k).

The fastest growing export markets for Refined Petroleum of Venezuela between 2022 and 2023 were Dominica ($10.4M), Colombia ($4.26k), and United States ($2.95k).

Imports In 2023, Venezuela imported $666M in Refined Petroleum, becoming the 129th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 1st most imported product in Venezuela. Venezuela imports Refined Petroleum primarily from: United States ($478M), Turkey ($32.7M), Colombia ($25.5M), United Arab Emirates ($24.6M), and Italy ($23.9M).

The fastest growing import markets in Refined Petroleum for Venezuela between 2022 and 2023 were United States ($380M), Italy ($22.7M), and Portugal ($22.2M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Refined Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$27.4M
IMPORTS (2023)$666M
NET TRADE (2023)-$639M

In 2023, Venezuela exported $27.4M in Refined Petroleum. The main destinations of Venezuela exports on Refined Petroleum were Guyana ($16.9M), Dominica ($10.4M), Colombia ($4.26k), United States ($2.95k), and Saudi Arabia ($2.41k).

In 2023, Venezuela imported $666M in Refined Petroleum, mainly from United States ($478M), Turkey ($32.7M), Colombia ($25.5M), United Arab Emirates ($24.6M), and Italy ($23.9M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Venezuela WERE (2022 - 2023):
Dominica$10.4M (1%)
Colombia$4.26k (1%)
United States$2.95k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Venezuela WERE (2022 - 2023):
Guyana-$778k (-4.39%)
Norway-$26.5k (-100%)
Bahamas-$18.2k (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Venezuela's main exporting competitors in Refined Petroleum were:
In 2023, Venezuela's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
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N/A
N/AN/A
N/AN/A

Refined Petroleum’s highest export potential is N/A. With an export gap of N/A.   Refined Petroleum’s highest import potential is N/A with an import gap of N/A.

See methodology.

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