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Pricing

2022
Flag → Flag
Exports $30.7MRnk 147 / 224
2022
Flag → Flag
Top Product $19.8MHard Liquor
2022
Flag → Flag
Exports $13MRnk 29 / 126
2022
Flag → Flag
Top Product $7.42MCoal Briquettes
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
GDP PC $45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186

About

United Kingdom-Venezuela Trade: In 2022, United Kingdom exported $30.7M to Venezuela. The main products that United Kingdom exported to Venezuela were Hard Liquor ($19.8M), Revenue Stamps ($3.2M), and Packaged Medicaments ($1.24M). Over the past 5 years the exports of United Kingdom to Venezuela have decreased at an annualized rate of 18.6%, from $86.1M in 2017 to $30.7M in 2022.

In 2019, United Kingdom exported services to Venezuela worth $29.3M, with Government services, n.i.e. ($17.8M) and Other business services ($11.5M) being the largest in terms of value.

Venezuela-United Kingdom Trade: In 2022, Venezuela exported $13M to United Kingdom. The main products that Venezuela exported to United Kingdom were Coal Briquettes ($7.42M), Crustaceans ($1.61M), and Hard Liquor ($1.41M). Over the past 5 years the exports of Venezuela to United Kingdom have decreased at an annualized rate of 34.6%,  from $109M in 2017 to $13M in 2022.

In 2022, Venezuela did not export any services to United Kingdom.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). 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, United Kingdom exported £297k and imported £443k from Venezuela, resulting in a negative trade balance of £146k. Between July 2023 and July 2024 the exports of United Kingdom have decreased by £-1.1M (-78.7%) from £1.4M to £297k, while imports decreased by £-5.55M (-92.6%) from £5.99M to £443k.

Trade In July 2024, the top exports of United Kingdom to Venezuela were Hard Liquor (£1.07M), Perfumes (£137k), Other Plastic Products (£79.9k), Hand Saws (£72.4k), and Iron Toiletry (£61.8k). In July 2024 the top imports of United Kingdom from Venezuela were Electrical Power Accessories (£1.32k).

Origins In July 2024 the exports of United Kingdom were mainly from London Gateway (£180k), London Heathrow Airport (£40.6k), East Midlands Airport (£37.2k), Belfast International Airport (£37k), and Southampton (£2.38k), while imports destinations were mainly Liverpool (£292k), London Heathrow Airport (£117k), Felixstowe (£16.3k), Dover (£11.9k), and London Stansted Airport (£2.75k).

Growth In July 2024, the decrease in United Kingdom's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in Packaged Medicaments (£-81.4k or -89.4%), Pesticides (£-10.1k or -84.4%), and Brochures (£-4.29k or -61.1%). In July 2024, the decrease in United Kingdom's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)£-1.1M(-78.7%)
IMPORT GROWTH (July 2023 - July 2024)£-5.55M(-92.6%)
MAIN EXPORTER (July 2024)London Gateway£180k

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

To check Venezuela and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Venezuela and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $30.7M to Venezuela. The main products exported from United Kingdom to Venezuela were Hard Liquor ($19.8M), Revenue Stamps ($3.2M), and Packaged Medicaments ($1.24M). During the last 5 years the exports of United Kingdom to Venezuela have decreased at an annualized rate of 18.6%, from $86.1M in 2017 to $30.7M in 2022.

In 2017, Venezuela exported $13M to United Kingdom. The main products exported from Venezuela to United Kingdom were Coal Briquettes ($7.42M), Crustaceans ($1.61M), and Hard Liquor ($1.41M). During the last 5 years the exports of Venezuela to United Kingdom have decreased at an annualized rate of 34.6%, from $109M in 2022 to $13M in 2017.

Exports from United Kingdom (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$61.8B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from United Kingdom than Venezuela included United States ($61.8B), Netherlands ($41.9B), and Germany ($40.6B).

In 2022, countries that imported more from Venezuela than United Kingdom included Montenegro ($75.9M).

Difference in imports from Venezuela (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Venezuela

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Venezuela in the exports of Foodstuffs ($19.9M), Arts and Antiques ($3.2M), and Machines ($2.17M).

During 2017, Venezuela had a large net trade with United Kingdom in the exports of Mineral Products ($7.42M), Animal Products ($1.62M), and Foodstuffs ($1.44M).

Economic Complexity

Competitive Landscape

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

Product Space of United Kingdom (Flag) and Venezuela (Flag) (2022)

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