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2022
Flag → Flag
Exports $118MRnk 99 / 218
2022
Flag → Flag
Top Product $9.63MUnglazed Ceramics
2022
Flag → Flag
Exports $386MRnk 3 / 126
2022
Flag → Flag
Top Product $436MCrude Petroleum
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186

About

Spain-Venezuela Trade: In 2022, Spain exported $118M to Venezuela. The main products that Spain exported to Venezuela were Unglazed Ceramics ($9.63M), Wine ($6.74M), and Air Pumps ($3.25M). Over the past 5 years the exports of Spain to Venezuela have decreased at an annualized rate of 16.4%, from $289M in 2017 to $118M in 2022.

In 2009, Spain exported services to Venezuela worth $1.4B, with Services not allocated ($908M), Travel ($350M), and Transportation ($146M) being the largest in terms of value.

Venezuela-Spain Trade: In 2022, Venezuela exported $386M to Spain. The main products that Venezuela exported to Spain were Crude Petroleum ($436M), Crustaceans ($34.6M), and Scrap Iron ($17.6M). Over the past 5 years the exports of Venezuela to Spain have increased at an annualized rate of 25.3%,  from $125M in 2017 to $386M in 2022.

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

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

March, 2024

About

Overview In March 2024, Spain exported €29.6M and imported €39.2M from Venezuela, resulting in a negative trade balance of €9.61M. Between March 2023 and March 2024 the exports of Spain have increased by €15.4M (108%) from €14.2M to €29.6M, while imports decreased by €-2.69M (-6.43%) from €41.9M to €39.2M.

Trade In March 2024, the top exports of Spain to Venezuela were Air Conditioners (€791k), Commodities not elsewhere specified (€570k), Pure Olive Oil (€322k), Unglazed Ceramics (€314k), and Excavation Machinery (€258k). In March 2024 the top imports of Spain from Venezuela were Crustaceans (€2.23M), Iron Reductions (€1.77M), Hard Liquor (€1.33M), Scrap Copper (€521k), and Wood Charcoal (€220k).

Origins In March 2024 the exports of Spain were mainly from A Coruña (€20.8M), Barcelona (€2.54M), Madrid (€1.53M), Castellón (€637k), and Valencia (€549k), while imports destinations were mainly Murcia (€28.2M), Madrid (€7.52M), Burgos (€884k), Barcelona (€715k), and Cantabria (Santander) (€575k).

Growth In March 2024, the increase in Spain's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Excavation Machinery (€257k or 23.3k%), Valves (€116k or 2.1k%), and Textiles for technical uses (€105k or 571%). In March 2024, the decrease in Spain's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in Other Plastic Products (€-1.13k or -91.9%), Interior Decorative Glassware (€-680 or -79.1%), and Base Metal Watches (€-220 or -14.8%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)€15.4M(108%)
IMPORT GROWTH (March 2023 - March 2024)€-2.69M(-6.43%)
MAIN EXPORTER (March 2024)A Coruña€20.8M

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

To check Venezuela and Spain 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, Spain exported $118M to Venezuela. The main products exported from Spain to Venezuela were Unglazed Ceramics ($9.63M), Wine ($6.74M), and Air Pumps ($3.25M). During the last 5 years the exports of Spain to Venezuela have decreased at an annualized rate of 16.4%, from $289M in 2017 to $118M in 2022.

In 2017, Venezuela exported $386M to Spain. The main products exported from Venezuela to Spain were Crude Petroleum ($436M), Crustaceans ($34.6M), and Scrap Iron ($17.6M). During the last 22 years the exports of Venezuela to Spain have increased at an annualized rate of 25.3%, from $125M in 1995 to $386M in 2017.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Spain than Venezuela included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

In 2022, countries that imported more from Venezuela than Spain included Montenegro ($75.9M) and Guyana ($28.9M).

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

Comparative Advantage Spain - Venezuela

Flow
Scale

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

During 2022, Spain had a large net trade with Venezuela in the exports of Foodstuffs ($23M), Chemical Products ($19.4M), and Machines ($19.3M).

During 2017, Venezuela had a large net trade with Spain in the exports of Mineral Products ($436M), Animal Products ($36.8M), and Metals ($30.4M).

Economic Complexity

Competitive Landscape

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

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

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