Jamaica (JAM) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Jamaica-Venezuela Trade: In 2022, Jamaica exported $160k to Venezuela. The main products that Jamaica exported to Venezuela were Motor-working Tools ($81.7k), Acyclic Alcohols ($45k), and Acrylic Polymers ($27.1k). Over the past 5 years the exports of Jamaica to Venezuela have decreased at an annualized rate of 56%, from $9.73M in 2017 to $160k in 2022.

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

Venezuela-Jamaica Trade: In 2022, Venezuela exported $205k to Jamaica. The main products that Venezuela exported to Jamaica were Shaped Paper ($69.6k), Stainless Steel Wire ($33.9k), and Baked Goods ($26.7k). Over the past 5 years the exports of Venezuela to Jamaica have decreased at an annualized rate of 40.3%, from $35.5M in 2017 to $205k in 2022.

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

Comparison: In 2022, Jamaica ranked 72 in the Economic Complexity Index (ECI -0.17), and 145 in total exports ($1.95B). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Jamaica exported $160k to Venezuela. The main products exported from Jamaica to Venezuela were Motor-working Tools ($81.7k), Acyclic Alcohols ($45k), and Acrylic Polymers ($27.1k). During the last 5 years the exports of Jamaica to Venezuela have decreased at an annualized rate of 56%, from $9.73M in 2017 to $160k in 2022.

In 2017, Venezuela exported $205k to Jamaica. The main products exported from Venezuela to Jamaica were Shaped Paper ($69.6k), Stainless Steel Wire ($33.9k), and Baked Goods ($26.7k). During the last 5 years the exports of Venezuela to Jamaica have decreased at an annualized rate of 40.3%, from $35.5M in 2022 to $205k in 2017.

Exports from Jamaica () to Venezuela () (2022)

Exports from Venezuela () to Jamaica () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Jamaica
Top DestinationUnited States$1.11B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Jamaica than Venezuela included United States ($1.11B), Russia ($99.7M), and Canada ($81M).

In 2022, countries that imported more from Venezuela than Jamaica included China ($703M), Turkey ($597M), and Spain ($518M).

Difference in imports from Venezuela () and Jamaica () (2022)

Comparative Advantage Jamaica - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Jamaica had a large net trade with Venezuela in the exports of Machines ($83.9k), Chemical Products ($45k), and Plastics and Rubbers ($27.5k).

During 2017, Venezuela had a large net trade with Jamaica in the exports of Paper Goods ($70k), Machines ($36.1k), and Metals ($35.1k).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Jamaica () to Venezuela () (2022)

Exports from Venezuela () to Jamaica () (2022)

Market Competitiveness

Difference in imports from Venezuela () and Jamaica () (2022)

Comparative Advantage Jamaica - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Jamaica () and Venezuela () (2022)

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