Cyprus (CYP) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Cyprus-Venezuela Trade: In 2022, Cyprus exported $60.2k to Venezuela. The main products that Cyprus exported to Venezuela were Packaged Medicaments ($59.6k) and Low-voltage Protection Equipment ($655). Over the past 5 years the exports of Cyprus to Venezuela have decreased at an annualized rate of 5.72%, from $80.9k in 2017 to $60.2k in 2022.

In 2019, Cyprus exported services to Venezuela worth $7.84M, with Transportation ($7.84M) being the largest in terms of value.

Venezuela-Cyprus Trade: In 2022, Venezuela exported $174k to Cyprus. The main products that Venezuela exported to Cyprus were Cocoa Paste ($120k), Wood Charcoal ($52.7k), and Base Metal Watches ($306). Over the past 5 years the exports of Venezuela to Cyprus have decreased at an annualized rate of 38.5%, from $1.98M in 2017 to $174k in 2022.

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

Comparison In 2022, Cyprus ranked 125 in total exports ($4.91B), 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 2022, Cyprus exported $60.2k to Venezuela. The main products exported from Cyprus to Venezuela were Packaged Medicaments ($59.6k) and Low-voltage Protection Equipment ($655). During the last 5 years the exports of Cyprus to Venezuela have decreased at an annualized rate of 5.72%, from $80.9k in 2017 to $60.2k in 2022.

In 2017, Venezuela exported $174k to Cyprus. The main products exported from Venezuela to Cyprus were Cocoa Paste ($120k), Wood Charcoal ($52.7k), and Base Metal Watches ($306). During the last 5 years the exports of Venezuela to Cyprus have decreased at an annualized rate of 38.5%, from $1.98M in 2022 to $174k in 2017.

Exports from Cyprus () to Venezuela () (2022)

Exports from Venezuela () to Cyprus () (2022)

Latest Data

Trade between Cyprus () and Venezuela ()

Cyprus Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Cyprus
Top DestinationHong Kong$482M

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Cyprus than Venezuela included Greece ($471M), Hong Kong ($482M), and United Kingdom ($276M).

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

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

Comparative Advantage Cyprus - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Cyprus had a large net trade with Venezuela in the exports of Chemical Products ($59.6k) and Machines ($655).

During 2017, Venezuela had a large net trade with Cyprus in the exports of Foodstuffs ($120k), Wood Products ($52.7k), and Instruments ($306).

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

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Historical Data

Bilateral Trade by Products

Exports from Cyprus () to Venezuela () (2022)

Exports from Venezuela () to Cyprus () (2022)

Latest Data

Trade between Cyprus () and Venezuela ()

Cyprus Exports

Market Competitiveness

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

Comparative Advantage Cyprus - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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