Mexico (MEX) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Mexico-Venezuela Trade: In 2022, Mexico exported $40.9M to Venezuela. The main products that Mexico exported to Venezuela were Refined Petroleum ($5.81M), Scented Mixtures ($4.63M), and Malt Extract ($4.57M). Over the past 5 years the exports of Mexico to Venezuela have decreased at an annualized rate of 45.9%, from $882M in 2017 to $40.9M in 2022.

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

Venezuela-Mexico Trade: In 2022, Venezuela exported $1.16M to Mexico. The main products that Venezuela exported to Mexico were Acyclic Alcohols ($1.16M) and Centrifuges ($516). Over the past 5 years the exports of Venezuela to Mexico have decreased at an annualized rate of 50.4%, from $38.6M in 2017 to $1.16M in 2022.

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

Comparison: In 2022, Mexico ranked 25 in the Economic Complexity Index (ECI 1.08), and 10 in total exports ($549B). 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, Mexico exported $40.9M to Venezuela. The main products exported from Mexico to Venezuela were Refined Petroleum ($5.81M), Scented Mixtures ($4.63M), and Malt Extract ($4.57M). During the last 5 years the exports of Mexico to Venezuela have decreased at an annualized rate of 45.9%, from $882M in 2017 to $40.9M in 2022.

In 2017, Venezuela exported $1.16M to Mexico. The main products exported from Venezuela to Mexico were Acyclic Alcohols ($1.16M) and Centrifuges ($516). During the last 5 years the exports of Venezuela to Mexico have decreased at an annualized rate of 50.4%, from $38.6M in 2022 to $1.16M in 2017.

Exports from Mexico () to Venezuela () (2022)

Exports from Venezuela () to Mexico () (2022)

Latest Data

Trade between Mexico () and Venezuela ()

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$421B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Mexico than Venezuela included United States ($421B), Canada ($22.2B), and China ($12.7B).

In 2022, countries that imported more from Venezuela than Mexico included Montenegro ($75.9M), Lebanon ($150M), and Zambia ($15.7k).

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

Comparative Advantage Mexico - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mexico had a large net trade with Venezuela in the exports of Chemical Products ($23.5M), Foodstuffs ($6.9M), and Mineral Products ($5.81M).

During 2017, Venezuela had a large net trade with Mexico in the exports of Chemical Products ($1.16M) and Machines ($516).

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

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Historical Data

Bilateral Trade by Products

Exports from Mexico () to Venezuela () (2022)

Exports from Venezuela () to Mexico () (2022)

Latest Data

Trade between Mexico () and Venezuela ()

Mexico Exports

Market Competitiveness

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

Comparative Advantage Mexico - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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