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2023
Flag → Flag
Exports $13.1MRnk 56 / 166
2023
Flag → Flag
Top Product $4.33MPackaged Medicaments
2023
Flag → Flag
Exports $42.8MRnk 14 / 122
2023
Flag → Flag
Top Product $28.2MSemi-Finished Iron
2023
Flag
Economic Complexity (ECI) ECI 0.04Rnk 62 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$121BCURRENT US$
Rnk 62 / 195
2013-2023
Flag
GDP GROWTH93.7%CURRENT US$
Rnk 18 / 195
2023
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GDP PC $10,718CURRENT US$
Rnk 87 / 195
2013-2023
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GDP PC GROWTH74.3%CURRENT US$
Rnk 21 / 195

About

Dominican Republic-Venezuela Trade: In 2023, Dominican Republic exported $13.1M to Venezuela. The main products that Dominican Republic exported to Venezuela were Packaged Medicaments ($4.33M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($1.33M), and Ethylene Polymers ($1.07M). Over the past 5 years the exports of Dominican Republic to Venezuela have decreased at an annualized rate of 10.1%, from $22.3M in 2018 to $13.1M in 2023.

In 2023, Dominican Republic did not export any services to Venezuela.

Venezuela-Dominican Republic Trade: In 2023, Venezuela exported $42.8M to Dominican Republic. The main products that Venezuela exported to Dominican Republic were Semi-Finished Iron ($28.2M), Hard Liquor ($6.31M), and Raw Aluminium ($1.72M). Over the past 5 years the exports of Venezuela to Dominican Republic have decreased at an annualized rate of 15.9%,  from $102M in 2018 to $42.8M in 2023.

In 2023, Venezuela did not export any services to Dominican Republic.

Comparison: In 2023,  Dominican Republic ranked 62 in the Economic Complexity Index (ECI 0.04), and 91 in total exports ($13.6B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Dominican Republic exported $13.1M to Venezuela. The main products exported from Dominican Republic to Venezuela were Packaged Medicaments ($4.33M), Phosphinates (hypophosphites) and phosphonates (phosphites) ($1.33M), and Ethylene Polymers ($1.07M). During the last 5 years the exports of Dominican Republic to Venezuela have decreased at an annualized rate of 10.1%, from $22.3M in 2018 to $13.1M in 2023.

In 2018, Venezuela exported $42.8M to Dominican Republic. The main products exported from Venezuela to Dominican Republic were Semi-Finished Iron ($28.2M), Hard Liquor ($6.31M), and Raw Aluminium ($1.72M). During the last 5 years the exports of Venezuela to Dominican Republic have decreased at an annualized rate of 15.9%, from $102M in 2023 to $42.8M in 2018.

Exports from Dominican Republic (Flag) to Venezuela (Flag) (2023)

Exports from Venezuela (Flag) to Dominican Republic (Flag) (2023)

Latest Data

Trade between Dominican Republic (Flag) and Venezuela (Flag)

Dominican Republic Exports

Market Competitiveness

Color
Dominican Republic
Top DestinationUnited States$7.08B
Venezuela
Top DestinationUnited States$3.81B

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

In 2023, countries that imported more from Dominican Republic than Venezuela included United States ($7.08B), Switzerland ($885M), and Haiti ($856M).

In 2023, countries that imported more from Venezuela than Dominican Republic included Spain ($670M), Brazil ($468M), and Turkey ($364M).

Difference in imports from Venezuela (Flag) and Dominican Republic (Flag) (2023)

Comparative Advantage Dominican Republic - Venezuela

Flow
Scale

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

During 2023, Dominican Republic had a large net trade with Venezuela in the exports of Chemical Products ($6.75M), Plastics and Rubbers ($3.06M), and Foodstuffs ($817k).

During 2018, Venezuela had a large net trade with Dominican Republic in the exports of Metals ($31.1M), Foodstuffs ($6.62M), and Stone And Glass ($1.26M).

Economic Complexity

Competitive Landscape

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

Product Space of Dominican Republic (Flag) and Venezuela (Flag) (2023)

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