Singapore (SGP) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

About

Singapore-Venezuela Trade: In 2022, Singapore exported $1.99M to Venezuela. The main products that Singapore exported to Venezuela were Uncoated Paper ($403k), Bi-Wheel Vehicle Parts ($333k), and Vegetable Saps ($152k). Over the past 5 years the exports of Singapore to Venezuela have decreased at an annualized rate of 14.7%, from $4.39M in 2017 to $1.99M in 2022.

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

Venezuela-Singapore Trade: In 2022, Venezuela exported $2.55M to Singapore. The main products that Venezuela exported to Singapore were Hard Liquor ($1.28M), Cocoa Beans ($596k), and Copper Powder ($163k). Over the past 5 years the exports of Venezuela to Singapore have decreased at an annualized rate of 33.8%, from $1.23B in 2017 to $2.55M in 2022.

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

Comparison: In 2022, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). 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, Singapore exported $1.99M to Venezuela. The main products exported from Singapore to Venezuela were Uncoated Paper ($403k), Bi-Wheel Vehicle Parts ($333k), and Vegetable Saps ($152k). During the last 5 years the exports of Singapore to Venezuela have decreased at an annualized rate of 14.7%, from $4.39M in 2017 to $1.99M in 2022.

In 2017, Venezuela exported $2.55M to Singapore. The main products exported from Venezuela to Singapore were Hard Liquor ($1.28M), Cocoa Beans ($596k), and Copper Powder ($163k). During the last 5 years the exports of Venezuela to Singapore have decreased at an annualized rate of 33.8%, from $1.23B in 2022 to $2.55M in 2017.

Exports from Singapore () to Venezuela () (2022)

Exports from Venezuela () to Singapore () (2022)

Latest Data

Trade between Singapore () and Venezuela ()

Singapore Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Singapore than Venezuela included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

In 2022, countries that imported more from Venezuela than Singapore included Lebanon ($150M), Montenegro ($75.9M), and Dominican Republic ($76.7M).

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

Comparative Advantage Singapore - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Singapore had a large net trade with Venezuela in the exports of Chemical Products ($565k), Paper Goods ($497k), and Transportation ($337k).

During 2017, Venezuela had a large net trade with Singapore in the exports of Foodstuffs ($1.89M), Machines ($190k), and Metals ($166k).

Potential Exports

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Venezuela () (2022)

Exports from Venezuela () to Singapore () (2022)

Latest Data

Trade between Singapore () and Venezuela ()

Singapore Exports

Market Competitiveness

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

Comparative Advantage Singapore - Venezuela

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring