Nepal (NPL) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Nepal-Venezuela Trade: In 2022, Nepal exported $14.4k to Venezuela. The main products that Nepal exported to Venezuela were Packaged Medicaments ($14.4k). Over the past 8 years the exports of Nepal to Venezuela have decreased at an annualized rate of 6.6%, from $24.9k in 2014 to $14.4k in 2022.

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

Venezuela-Nepal Trade: In 2022, Venezuela exported $184k to Nepal. The main products that Venezuela exported to Nepal were Dried Legumes ($171k), Medical Instruments ($9.31k), and Low-voltage Protection Equipment ($3.04k). Over the past 8 years the exports of Venezuela to Nepal have decreased at an annualized rate of 6.58%, from $259k in 2014 to $184k in 2022.

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

Comparison In 2022, Nepal ranked 153 in total exports ($1.43B), and does not have data regarding Economic Complexity Index. 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, Nepal exported $14.4k to Venezuela. The main products exported from Nepal to Venezuela were Packaged Medicaments ($14.4k). During the last 8 years the exports of Nepal to Venezuela have decreased at an annualized rate of 6.6%, from $24.9k in 2014 to $14.4k in 2022.

In 2017, Venezuela exported $184k to Nepal. The main products exported from Venezuela to Nepal were Dried Legumes ($171k), Medical Instruments ($9.31k), and Low-voltage Protection Equipment ($3.04k). During the last 5 years the exports of Venezuela to Nepal have decreased at an annualized rate of 6.58%, from $259k in 2022 to $184k in 2017.

Exports from Nepal () to Venezuela () (2022)

Exports from Venezuela () to Nepal () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Nepal
Top DestinationIndia$956M

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Nepal than Venezuela included India ($956M), Singapore ($25.5M), and United Kingdom ($26.2M).

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

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

Comparative Advantage Nepal - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Nepal had a large net trade with Venezuela in the exports of Chemical Products ($14.4k).

During 2017, Venezuela had a large net trade with Nepal in the exports of Vegetable Products ($171k), Instruments ($9.42k), and Machines ($3.11k).

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

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Historical Data

Bilateral Trade by Products

Exports from Nepal () to Venezuela () (2022)

Exports from Venezuela () to Nepal () (2022)

Market Competitiveness

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

Comparative Advantage Nepal - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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