Sign In
Pricing

2022
Flag → Flag
Exports $189MRnk 123 / 217
2022
Flag → Flag
Top Product $92.3MPackaged Medicaments
2022
Flag → Flag
Exports $228MRnk 6 / 126
2022
Flag → Flag
Top Product $97.6MPetroleum Coke
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
GDP PC $2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186

About

India-Venezuela Trade: In 2022, India exported $189M to Venezuela. The main products that India exported to Venezuela were Packaged Medicaments ($92.3M), Heavy Mixed Woven Cotton ($14.7M), and Vaccines, blood, antisera, toxins and cultures ($14.1M). Over the past 5 years the exports of India to Venezuela have increased at an annualized rate of 18.2%, from $81.6M in 2017 to $189M in 2022.

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

Venezuela-India Trade: In 2022, Venezuela exported $228M to India. The main products that Venezuela exported to India were Petroleum Coke ($97.6M), Scrap Iron ($85.2M), and Acyclic Alcohols ($32.5M). Over the past 5 years the exports of Venezuela to India have decreased at an annualized rate of 47.8%,  from $5.9B in 2017 to $228M in 2022.

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

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Latest Trends

August, 2024

About

Overview In August 2024, India exported $23.4M and imported $40.3M from Venezuela, resulting in a negative trade balance of $16.9M. Between August 2023 and August 2024 the exports of India have increased by $11.9M (104%) from $11.5M to $23.4M, while imports increased by $26.4M (189%) from $13.9M to $40.3M.

Trade In August 2024, the top exports of India to Venezuela were Drug Formulations, Biologicals ($8.06M), Cotton Fabrics, Madeups Etc. ($637k), Paper, Paper Board And Product ($452k), Ceramics And Allied Products ($395k), and Agro Chemicals ($331k). In August 2024 the top imports of India from Venezuela were Petroleum Products ($10.4M), Aluminium, Products Of Aluminm ($990k), Copper And Prdcts Made Of Copr ($886k), Iron And Steel ($770k), and Pulses ($238k).

Growth In August 2024, the increase in India's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Agro Chemicals ($185k or 126%), Paper, Paper Board And Product ($161k or 55.3%), and Residul Chemicl And Alled Prod ($120k or 101%). In August 2024, the increase in India's year-by-year imports  from Venezuela was explained primarily by an increase in product imports  in Aluminium, Products Of Aluminm ($184k or 22.8%), Plywood And Allied Products ($143k or 329%), and Zinc And Products Made Of Zinc ($45.6k or 78.6%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)$11.9M(104%)
IMPORT GROWTH (August 2023 - August 2024)$26.4M(189%)

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

To check Venezuela and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Venezuela and India Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $189M to Venezuela. The main products exported from India to Venezuela were Packaged Medicaments ($92.3M), Heavy Mixed Woven Cotton ($14.7M), and Vaccines, blood, antisera, toxins and cultures ($14.1M). During the last 5 years the exports of India to Venezuela have increased at an annualized rate of 18.2%, from $81.6M in 2017 to $189M in 2022.

In 2017, Venezuela exported $228M to India. The main products exported from Venezuela to India were Petroleum Coke ($97.6M), Scrap Iron ($85.2M), and Acyclic Alcohols ($32.5M). During the last 5 years the exports of Venezuela to India have decreased at an annualized rate of 47.8%, from $5.9B in 2022 to $228M in 2017.

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

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

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from India than Venezuela included United States ($82.9B), United Arab Emirates ($31.6B), and Netherlands ($17.6B).

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

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

Comparative Advantage India - Venezuela

Flow
Scale

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

During 2022, India had a large net trade with Venezuela in the exports of Chemical Products ($124M), Textiles ($29.5M), and Metals ($6.93M).

During 2017, Venezuela had a large net trade with India in the exports of Mineral Products ($97.6M), Metals ($92M), and Chemical Products ($33.8M).

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms