Australia (AUS) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Australia-Venezuela Trade: In 2022, Australia exported $7.22M to Venezuela. The main products that Australia exported to Venezuela were Motor vehicles; parts and accessories (8701 to 8705) ($5.27M), Other Knit Garments ($235k), and Knit Sweaters ($222k). Over the past 5 years the exports of Australia to Venezuela have increased at an annualized rate of 47.4%, from $1.04M in 2017 to $7.22M in 2022.

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

Venezuela-Australia Trade: In 2022, Venezuela exported $1.81M to Australia. The main products that Venezuela exported to Australia were Hard Liquor ($1.47M), Refrigerators ($61.5k), and Unglazed Ceramics ($61k). Over the past 5 years the exports of Venezuela to Australia have increased at an annualized rate of 12.9%, from $986k in 2017 to $1.81M in 2022.

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

Comparison: In 2022, Australia ranked 78 in the Economic Complexity Index (ECI -0.24), and 16 in total exports ($424B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Australia exported $7.22M to Venezuela. The main products exported from Australia to Venezuela were Motor vehicles; parts and accessories (8701 to 8705) ($5.27M), Other Knit Garments ($235k), and Knit Sweaters ($222k). During the last 5 years the exports of Australia to Venezuela have increased at an annualized rate of 47.4%, from $1.04M in 2017 to $7.22M in 2022.

In 2017, Venezuela exported $1.81M to Australia. The main products exported from Venezuela to Australia were Hard Liquor ($1.47M), Refrigerators ($61.5k), and Unglazed Ceramics ($61k). During the last 5 years the exports of Venezuela to Australia have increased at an annualized rate of 12.9%, from $986k in 2022 to $1.81M in 2017.

Exports from Australia () to Venezuela () (2022)

Exports from Venezuela () to Australia () (2022)

Latest Data

Trade between Australia () and Venezuela ()

Australia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Australia
Top DestinationChina$123B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Australia than Venezuela included China ($123B), Japan ($80.1B), and South Korea ($41B).

In 2022, countries that imported more from Venezuela than Australia included Lebanon ($150M), Montenegro ($75.9M), and Guatemala ($84.5M).

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

Comparative Advantage Australia - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Australia had a large net trade with Venezuela in the exports of Transportation ($5.33M), Textiles ($1.51M), and Metals ($193k).

During 2017, Venezuela had a large net trade with Australia in the exports of Foodstuffs ($1.48M), Machines ($172k), and Stone And Glass ($61k).

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

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Historical Data

Bilateral Trade by Products

Exports from Australia () to Venezuela () (2022)

Exports from Venezuela () to Australia () (2022)

Latest Data

Trade between Australia () and Venezuela ()

Australia Exports

Market Competitiveness

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

Comparative Advantage Australia - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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