Madagascar (MDG) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Madagascar-Venezuela Trade: In 2022, Madagascar exported $35.9k to Venezuela. The main products that Madagascar exported to Venezuela were Cloves ($27k) and Pepper ($8.93k). Over the past 10 years the exports of Madagascar to Venezuela have decreased at an annualized rate of 35.6%, from $2.92M in 2012 to $35.9k in 2022.

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

Venezuela-Madagascar Trade: In 2022, Venezuela exported $3.95k to Madagascar. The main products that Venezuela exported to Madagascar were N/A. Over the past 10 years the exports of Venezuela to Madagascar have decreased at an annualized rate of 77.5%, from $6.85M in 2012 to $3.95k in 2022.

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

Comparison: In 2022, Madagascar ranked 115 in the Economic Complexity Index (ECI -1.08), and 133 in total exports ($4.25B). 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, Madagascar exported $35.9k to Venezuela. The main products exported from Madagascar to Venezuela were Cloves ($27k) and Pepper ($8.93k). During the last 10 years the exports of Madagascar to Venezuela have decreased at an annualized rate of 35.6%, from $2.92M in 2012 to $35.9k in 2022.

In 2015, Venezuela exported $3.95k to Madagascar. There were not main exports from Venezuela to Madagascar in 2015. During the last 5 years the exports of Venezuela to Madagascar have decreased at an annualized rate of 77.5%, from $6.85M in 2020 to $3.95k in 2015.

Exports from Madagascar () to Venezuela () (2022)

Exports from Venezuela () to Madagascar () (2022)

Latest Data

Trade between Madagascar () and Venezuela ()

Madagascar Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Madagascar
Top DestinationUnited States$756M

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Madagascar than Venezuela included France ($634M), Japan ($448M), and United States ($756M).

In 2022, countries that imported more from Venezuela than Madagascar included Turkey ($597M), Spain ($518M), and Brazil ($361M).

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

Comparative Advantage Madagascar - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Madagascar had a large net trade with Venezuela in the exports of Vegetable Products ($35.9k).

During 2015, Venezuela had a large net trade with Madagascar in the exports of .

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 Madagascar and Venezuela. This means that a dot/product with the flag of Madagascar indicates it has a comparative advantage over Venezuela. Similarly, a dot/product with the flag of Venezuela indicates it has a comparative advantage over Madagascar.

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Historical Data

Bilateral Trade by Products

Exports from Madagascar () to Venezuela () (2022)

Exports from Venezuela () to Madagascar () (2022)

Latest Data

Trade between Madagascar () and Venezuela ()

Madagascar Exports

Market Competitiveness

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

Comparative Advantage Madagascar - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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