Bermuda (BMU) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Bermuda-Venezuela Trade: In 2013, Bermuda exported $1.19k to Venezuela. The main products that Bermuda exported to Venezuela were N/A. Over the past 11 years the exports of Bermuda to Venezuela have decreased at an annualized rate of 26.2%, from $33.4k in 2002 to $1.19k in 2013.

In 2013, Bermuda did not export any services to Venezuela.

Venezuela-Bermuda Trade: In 2013, Venezuela exported $4.38k to Bermuda. The main products that Venezuela exported to Bermuda were Hard Liquor ($4.38k). Over the past 11 years the exports of Venezuela to Bermuda have decreased at an annualized rate of 7.2%, from $6.36k in 2002 to $4.38k in 2013.

In 2013, Venezuela did not export any services to Bermuda.

Comparison In 2022, Bermuda ranked 199 in total exports ($68.1M), and does not have data regarding Economic Complexity Index. 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 2013, Bermuda exported $1.19k to Venezuela. There were not main exports from Bermuda to Venezuela in 2013. During the last 11 years the exports of Bermuda to Venezuela have decreased at an annualized rate of 26.2%, from $33.4k in 2002 to $1.19k in 2013.

In 2017, Venezuela exported $4.38k to Bermuda. The main products exported from Venezuela to Bermuda were Hard Liquor ($4.38k). During the last 5 years the exports of Venezuela to Bermuda have decreased at an annualized rate of 7.2%, from $6.36k in 2022 to $4.38k in 2017.

Exports from Bermuda () to Venezuela () (2022)

Exports from Venezuela () to Bermuda () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bermuda
Top DestinationZambia$17.5M

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Bermuda than Venezuela included Zambia ($17.5M), Angola ($7.13M), and Tanzania ($5.76M).

In 2022, countries that imported more from Venezuela than Bermuda included China ($703M), Turkey ($597M), and Spain ($518M).

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

Comparative Advantage Bermuda - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2013, Bermuda had a large net trade with Venezuela in the exports of .

During 2017, Venezuela had a large net trade with Bermuda in the exports of Foodstuffs ($4.38k).

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Bermuda () to Venezuela () (2022)

Exports from Venezuela () to Bermuda () (2022)

Market Competitiveness

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

Comparative Advantage Bermuda - Venezuela

Economic Complexity

Competitive Landscape

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

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