Norway (NOR) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Norway-Venezuela Trade: In 2023, Norway exported $849k to Venezuela. The main products that Norway exported to Venezuela were Dried/Salted/Smoked/Brined Fish ($518k), Saturated Acyclic Monocarboxylic Acids ($236k), and Fish Fillets ($87k). Over the past 5 years the exports of Norway to Venezuela have increased at an annualized rate of 22.4%, from $309k in 2018 to $849k in 2023.

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

Venezuela-Norway Trade: In 2023, Venezuela exported $25.5M to Norway. The main products that Venezuela exported to Norway were Raw Aluminium ($25.1M), Hard Liquor ($244k), and Trunks and Cases ($63.6k). Over the past 5 years the exports of Venezuela to Norway have increased at an annualized rate of 62.3%, from $2.26M in 2018 to $25.5M in 2023.

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

Comparison: In 2023, Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Latest Trends

December, 2024

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Overview In December 2024, Norway exported NOK219k and imported NOK582k from Venezuela, resulting in a negative trade balance of NOK363k. Between December 2023 and December 2024 the exports of Norway have decreased by NOK-279k (-56%) from NOK498k to NOK219k, while imports increased by NOK100k (20.7%) from NOK482k to NOK582k.

Trade In December 2024, the top exports of Norway to Venezuela were Organic chemicals (NOK440k), Paper, paperboard and articles of paper... (NOK203k), Professional, scientific and controlling instruments and... (NOK52k), Articles of apparel and clothing accessories (NOK8k), and Live animals other than animals of... (NOK0). In December 2024 the top imports of Norway from Venezuela were Non-ferrous metals (NOK243M), Paper, paperboard and articles of paper... (NOK320k), Miscellaneous manufactured articles, n.e.s. (NOK90k), Travel goods, handbags and similar containers (NOK68k), and Beverages (NOK33k).

Growth In December 2024, the decrease in Norway's year-by-year exports to Venezuela was explained primarily by an decrease in product exports in . In December 2024, the increase in Norway's year-by-year imports from Venezuela was explained primarily by an increase in product imports in Miscellaneous manufactured articles, n.e.s. (NOK88k or 4.4k%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (December 2023 - December 2024)NOK-279k(-56%)

IMPORT GROWTH (December 2023 - December 2024)NOK100k(20.7%)

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Norway exported $849k to Venezuela. The main products exported from Norway to Venezuela were Dried/Salted/Smoked/Brined Fish ($518k), Saturated Acyclic Monocarboxylic Acids ($236k), and Fish Fillets ($87k). During the last 5 years the exports of Norway to Venezuela have increased at an annualized rate of 22.4%, from $309k in 2018 to $849k in 2023.

In 2018, Venezuela exported $25.5M to Norway. The main products exported from Venezuela to Norway were Raw Aluminium ($25.1M), Hard Liquor ($244k), and Trunks and Cases ($63.6k). During the last 5 years the exports of Venezuela to Norway have increased at an annualized rate of 62.3%, from $2.26M in 2023 to $25.5M in 2018.

Exports from Norway () to Venezuela () (2023)

Exports from Venezuela () to Norway () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$33.8B

Venezuela
Top DestinationUnited States$3.81B

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

In 2023, countries that imported more from Norway than Venezuela included Germany ($33.8B), United Kingdom ($32.6B), and Sweden ($15.9B).

In 2023, countries that imported more from Venezuela than Norway included Colombia ($131M), Lebanon ($106M), and Ecuador ($41.5M).

Difference in imports from Venezuela () and Norway () (2023)

Comparative Advantage Norway - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Norway had a large net trade with Venezuela in the exports of Animal Products ($604k), Chemical Products ($236k), and Plastics and Rubbers ($6.39k).

During 2018, Venezuela had a large net trade with Norway in the exports of Metals ($25.1M), Foodstuffs ($251k), and Animal Hides ($63.6k).

Economic Complexity

Competitive Landscape

Year

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

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Exports from Norway () to Venezuela () (2023)

Exports from Venezuela () to Norway () (2023)

Market Competitiveness

Difference in imports from Venezuela () and Norway () (2023)

Comparative Advantage Norway - Venezuela

Economic Complexity

Competitive Landscape

Product Space of Norway () and Venezuela () (2023)

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