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2023
Flag → Flag
Exports $159MRnk 109 / 219
2023
Flag → Flag
Top Product $23.9MRefined Petroleum
2023
Flag → Flag
Exports $178MRnk 7 / 122
2023
Flag → Flag
Top Product $81.1MScrap Iron
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
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Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
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GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
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GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
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GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Italy-Venezuela Trade: In 2023, Italy exported $159M to Venezuela. The main products that Italy exported to Venezuela were Refined Petroleum ($23.9M), Industrial Food Preperation Machinery ($8.51M), and Other Furniture ($7.94M). Over the past 5 years the exports of Italy to Venezuela have increased at an annualized rate of 3.88%, from $132M in 2018 to $159M in 2023.

In 2020, Italy exported services to Venezuela worth $11.2M, with Other business services ($4.68M), Travel ($3.54M), and Communications services ($1.37M) being the largest in terms of value.

Venezuela-Italy Trade: In 2023, Venezuela exported $178M to Italy. The main products that Venezuela exported to Italy were Scrap Iron ($81.1M), Raw Aluminium ($31.6M), and Iron Reductions ($28.1M). Over the past 5 years the exports of Venezuela to Italy have increased at an annualized rate of 2.06%,  from $158M in 2018 to $178M in 2023.

In 2023, Venezuela did not export any services to Italy.

Comparison: In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Latest Trends

N/A

About

Overview In N/A, Italy exported €N/A and imported €N/A from Venezuela, resulting in a N/A trade balance of €N/A. Between N/A and N/A the exports of Italy have N/A by €N/A (N/A) from €N/A to €N/A, while imports N/A by €N/A (N/A) from €N/A to €N/A.

Growth In N/A, the N/A in Italy's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in . In N/A, the N/A in Italy's year-by-year imports  from Venezuela was explained primarily by an decrease in product imports  in N/A.

Latest Trade

Time Scale
Flow
Value
Depth

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

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

For full datasets download visit Bulk Download page.

Explore Venezuela and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $159M to Venezuela. The main products exported from Italy to Venezuela were Refined Petroleum ($23.9M), Industrial Food Preperation Machinery ($8.51M), and Other Furniture ($7.94M). During the last 5 years the exports of Italy to Venezuela have increased at an annualized rate of 3.88%, from $132M in 2018 to $159M in 2023.

In 2018, Venezuela exported $178M to Italy. The main products exported from Venezuela to Italy were Scrap Iron ($81.1M), Raw Aluminium ($31.6M), and Iron Reductions ($28.1M). During the last 5 years the exports of Venezuela to Italy have increased at an annualized rate of 2.06%, from $158M in 2023 to $178M in 2018.

Exports from Italy (Flag) to Venezuela (Flag) (2023)

Exports from Venezuela (Flag) to Italy (Flag) (2023)

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Venezuela
Top DestinationUnited States$3.81B

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

In 2023, countries that imported more from Italy than Venezuela included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

In 2023, no countries were registered that imported more from Venezuela than from Italy.

Difference in imports from Venezuela (Flag) and Italy (Flag) (2023)

Comparative Advantage Italy - Venezuela

Flow
Scale

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

During 2023, Italy had a large net trade with Venezuela in the exports of Machines ($40.5M), Mineral Products ($24M), and Foodstuffs ($21.1M).

During 2018, Venezuela had a large net trade with Italy in the exports of Metals ($142M), Foodstuffs ($15.3M), and Chemical Products ($9.62M).

Economic Complexity

Competitive Landscape

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

Product Space of Italy (Flag) and Venezuela (Flag) (2023)

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