2023
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GDP
$351BCURRENT US$
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2013-2023
Flag
GDP GROWTH
84.8%CURRENT US$
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2023
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GDP PC 
$18,404CURRENT US$
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2013-2023
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GDP PC GROWTH
93.8%CURRENT US$
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About

Romania-Venezuela Trade: In 2023, Romania exported $686k to Venezuela. The main products that Romania exported to Venezuela were Video and Card Games ($351k), Soil Preparation Machinery ($166k), and Baked Goods ($89.3k). Over the past 5 years the exports of Romania to Venezuela have decreased at an annualized rate of 8.87%, from $1.09M in 2018 to $686k in 2023.

In 2017, Romania exported services to Venezuela worth $791k, with Computer and information services ($791k) being the largest in terms of value.

Venezuela-Romania Trade: In 2023, Venezuela exported $12.8M to Romania. The main products that Venezuela exported to Romania were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($8.19M), Iron Ore ($3.81M), and Hard Liquor ($833k). Over the past 5 years the exports of Venezuela to Romania have increased at an annualized rate of 142%,  from $155k in 2018 to $12.8M in 2023.

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

Comparison: In 2023,  Romania ranked 28 in the Economic Complexity Index (ECI 1.02), and 41 in total exports ($104B). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Romania exported $686k to Venezuela. The main products exported from Romania to Venezuela were Video and Card Games ($351k), Soil Preparation Machinery ($166k), and Baked Goods ($89.3k). During the last 5 years the exports of Romania to Venezuela have decreased at an annualized rate of 8.87%, from $1.09M in 2018 to $686k in 2023.

In 2018, Venezuela exported $12.8M to Romania. The main products exported from Venezuela to Romania were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($8.19M), Iron Ore ($3.81M), and Hard Liquor ($833k). During the last 5 years the exports of Venezuela to Romania have increased at an annualized rate of 142%, from $155k in 2023 to $12.8M in 2018.

Exports from Romania (Flag) to Venezuela (Flag) (2023)

Exports from Venezuela (Flag) to Romania (Flag) (2023)

Latest Data

Trade between Romania (Flag) and Venezuela (Flag)

Romania Exports

Market Competitiveness

Color
Romania
Top Destination
Germany$19.9B
Venezuela
Top Destination
United States$3.81B

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

In 2023, countries that imported more from Romania than Venezuela included Germany ($19.9B), Italy ($10.2B), and France ($6.5B).

In 2023, countries that imported more from Venezuela than Romania included Brazil ($468M), Guatemala ($50.2M), and Dominican Republic ($42.8M).

Difference in imports from Venezuela (Flag) and Romania (Flag) (2023)

Comparative Advantage Romania - Venezuela

Flow
Scale

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

During 2023, Romania had a large net trade with Venezuela in the exports of Miscellaneous ($351k), Machines ($166k), and Foodstuffs ($142k).

During 2018, Venezuela had a large net trade with Romania in the exports of Chemical Products ($8.19M), Mineral Products ($3.81M), and Foodstuffs ($833k).

Economic Complexity

Competitive Landscape

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

Product Space of Romania (Flag) and Venezuela (Flag) (2023)

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