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Pricing

2022
Flag → Flag
Exports $87.4MRnk 134 / 223
2022
Flag → Flag
Top Product $8.61MIntegrated Circuits
2022
Flag → Flag
Exports $36.9MRnk 18 / 126
2022
Flag → Flag
Top Product $17.4MIron Reductions
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 5 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$4.07TCURRENT US$
Rnk 4 / 186
2012-2022
Flag
GDP GROWTH15.5%CURRENT US$
Rnk 136 / 186
2022
Flag
GDP PC $48,432CURRENT US$
Rnk 21 / 186
2012-2022
Flag
GDP PC GROWTH10.4%CURRENT US$
Rnk 115 / 186

About

Germany-Venezuela Trade: In 2022, Germany exported $87.4M to Venezuela. The main products that Germany exported to Venezuela were Integrated Circuits ($8.61M), Coated Flat-Rolled Iron ($6.63M), and Vaccines, blood, antisera, toxins and cultures ($5.77M). Over the past 5 years the exports of Germany to Venezuela have decreased at an annualized rate of 14.7%, from $193M in 2017 to $87.4M in 2022.

In 2020, Germany exported services to Venezuela worth $1.14M, with Government services, n.i.e. ($1.14M) being the largest in terms of value.

Venezuela-Germany Trade: In 2022, Venezuela exported $36.9M to Germany. The main products that Venezuela exported to Germany were Iron Reductions ($17.4M), Hard Liquor ($9.3M), and Coffee ($4.21M). Over the past 5 years the exports of Venezuela to Germany have decreased at an annualized rate of 32.2%,  from $257M in 2017 to $36.9M in 2022.

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

Comparison: In 2022,  Germany ranked 5 in the Economic Complexity Index (ECI 1.78), and 3 in total exports ($1.6T). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

July, 2024

About

Overview In July 2024, Germany exported €9.01M and imported €2.39M from Venezuela, resulting in a positive trade balance of €6.62M. Between July 2023 and July 2024 the exports of Germany have increased by €2.99M (49.6%) from €6.03M to €9.01M, while imports decreased by €-464k (-16.2%) from €2.86M to €2.39M.

Trade In July 2024, the top exports of Germany to Venezuela were Machine-tools (€528k), Articles of plastic (€486k), Other chemical semi-finished products (€317k), Other machinery (€302k), and Machinery for electricity production, distribution (€220k). In July 2024 the top imports of Germany from Venezuela were Coffee (€537k), Spirits (€307k), Other skins and hides, raw (€174k), Leguminous vegetables (€20k), and Other prefabricated chemicals (€3k).

Origins In July 2024 the exports of Germany were mainly from Baden-Württemberg (€1.95M), Bavaria (€924k), Berlin (€746k), North Rhine-Westphalia (€584k), and Lower Saxony (€448k), while imports destinations were mainly Baden-Württemberg (€1.95M), Hamburg (€331k), North Rhine-Westphalia (€42k), Bavaria (€14k), and Berlin (€14k).

Growth In July 2024, the increase in Germany's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Other chemical semi-finished products (€211k or 199%), Machinery for electricity production, distribution (€163k or 286%), and Other machinery (€135k or 80.8%). In July 2024, the decrease in Germany's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (July 2023 - July 2024)€2.99M(49.6%)
IMPORT GROWTH (July 2023 - July 2024)€-464k(-16.2%)
MAIN EXPORTER (July 2024)Baden-Württemberg€1.95M

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

To check Venezuela and Germany 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, Germany exported $87.4M to Venezuela. The main products exported from Germany to Venezuela were Integrated Circuits ($8.61M), Coated Flat-Rolled Iron ($6.63M), and Vaccines, blood, antisera, toxins and cultures ($5.77M). During the last 5 years the exports of Germany to Venezuela have decreased at an annualized rate of 14.7%, from $193M in 2017 to $87.4M in 2022.

In 2017, Venezuela exported $36.9M to Germany. The main products exported from Venezuela to Germany were Iron Reductions ($17.4M), Hard Liquor ($9.3M), and Coffee ($4.21M). During the last 5 years the exports of Venezuela to Germany have decreased at an annualized rate of 32.2%, from $257M in 2022 to $36.9M in 2017.

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

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

Market Competitiveness

Color
Germany
Top DestinationUnited States$153B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Germany than Venezuela included United States ($153B), France ($120B), and Netherlands ($109B).

In 2022, no countries were registered that imported more from Venezuela than from Germany.

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

Comparative Advantage Germany - Venezuela

Flow
Scale

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

During 2022, Germany had a large net trade with Venezuela in the exports of Machines ($32.7M), Chemical Products ($18.2M), and Metals ($10.2M).

During 2017, Venezuela had a large net trade with Germany in the exports of Metals ($20.2M), Foodstuffs ($9.92M), and Vegetable Products ($4.41M).

Economic Complexity

Competitive Landscape

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

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

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