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2022
Flag → Flag
Exports $140MRnk 76 / 215
2022
Flag → Flag
Top Product $106MWheat
2022
Flag → Flag
Exports $10.7MRnk 33 / 126
2022
Flag → Flag
Top Product $4.94MAcyclic Alcohols
2022
Flag
Economic Complexity (ECI) ECI 0.92Rnk 31 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP GROWTH17%CURRENT US$
Rnk 129 / 186
2022
Flag
GDP PC $54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH4.36%CURRENT US$
Rnk 130 / 186

About

Canada-Venezuela Trade: In 2022, Canada exported $140M to Venezuela. The main products that Canada exported to Venezuela were Wheat ($106M), Dried Legumes ($13.3M), and Cars ($6.8M). Over the past 5 years the exports of Canada to Venezuela have decreased at an annualized rate of 1.58%, from $152M in 2017 to $140M in 2022.

In 2020, Canada exported services to Venezuela worth $17.9M, with Travel ($17.9M) being the largest in terms of value.

Venezuela-Canada Trade: In 2022, Venezuela exported $10.7M to Canada. The main products that Venezuela exported to Canada were Acyclic Alcohols ($4.94M), Cocoa Paste ($1.19M), and Non-fillet Fresh Fish ($1.12M). Over the past 5 years the exports of Venezuela to Canada have decreased at an annualized rate of 3.67%,  from $12.9M in 2017 to $10.7M in 2022.

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

Comparison: In 2022,  Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

August, 2024

About

Overview In August 2024, Canada exported C$15.3M and imported C$504k from Venezuela, resulting in a positive trade balance of C$14.8M. Between August 2023 and August 2024 the exports of Canada have decreased by C$-14.5M (-48.7%) from C$29.8M to C$15.3M, while imports decreased by C$-445k (-46.9%) from C$949k to C$504k.

Trade In August 2024, the top exports of Canada to Venezuela were Wheat (C$6.9M), Dried Legumes (C$2.54M), Sulfate Chemical Woodpulp (C$1.36M), Newsprint (C$333k), and Liquid Pumps (C$241k). In August 2024 the top imports of Canada from Venezuela were Acyclic Alcohols (C$943k), Cocoa Paste (C$577k), Hard Liquor (C$357k), Wood Charcoal (C$80.3k), and Carbon (C$80.2k).

Origins In August 2024 the exports of Canada were mainly from Saskatchewan (C$7.04M), Alberta (C$3.98M), Manitoba (C$1.7M), Quebec (C$1.23M), and Ontario (C$1.16M), while imports destinations were mainly Quebec (C$305k), Ontario (C$187k), Manitoba (C$11.1k), and British Columbia (C$666).

Growth In August 2024, the decrease in Canada's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in Commodities not elsewhere specified (C$-6.58k or -17.2%). In August 2024, the decrease in Canada's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in Acyclic Alcohols (C$-617k or -39.5%), Coffee (C$-133k or -100%), and Baked Goods (C$-2.44k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)C$-14.5M(-48.7%)
IMPORT GROWTH (August 2023 - August 2024)C$-445k(-46.9%)
MAIN EXPORTER (August 2024)SaskatchewanC$7.04M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Venezuela and Canada trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Canada exported $140M to Venezuela. The main products exported from Canada to Venezuela were Wheat ($106M), Dried Legumes ($13.3M), and Cars ($6.8M). During the last 5 years the exports of Canada to Venezuela have decreased at an annualized rate of 1.58%, from $152M in 2017 to $140M in 2022.

In 2017, Venezuela exported $10.7M to Canada. The main products exported from Venezuela to Canada were Acyclic Alcohols ($4.94M), Cocoa Paste ($1.19M), and Non-fillet Fresh Fish ($1.12M). During the last 5 years the exports of Venezuela to Canada have decreased at an annualized rate of 3.67%, from $12.9M in 2022 to $10.7M in 2017.

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

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

Market Competitiveness

Color
Canada
Top DestinationUnited States$438B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Canada than Venezuela included United States ($438B), China ($25.4B), and Japan ($14.3B).

In 2022, countries that imported more from Venezuela than Canada included Montenegro ($75.9M) and Bosnia and Herzegovina ($10.1M).

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

Comparative Advantage Canada - Venezuela

Flow
Scale

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

During 2022, Canada had a large net trade with Venezuela in the exports of Vegetable Products ($121M), Transportation ($8.17M), and Machines ($3.68M).

During 2017, Venezuela had a large net trade with Canada in the exports of Chemical Products ($4.99M), Foodstuffs ($2.36M), and Animal Products ($1.86M).

Economic Complexity

Competitive Landscape

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

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

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