Thailand (THA) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Thailand-Venezuela Trade: In 2022, Thailand exported $20.7M to Venezuela. The main products that Thailand exported to Venezuela were Non-Retail Synthetic Staple Fibers Yarn ($7.1M), Cars ($5.45M), and Household Washing Machines ($1.93M). Over the past 5 years the exports of Thailand to Venezuela have decreased at an annualized rate of 15.1%, from $46.9M in 2017 to $20.7M in 2022.

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

Venezuela-Thailand Trade: In 2022, Venezuela exported $27.2M to Thailand. The main products that Venezuela exported to Thailand were Scrap Iron ($24.6M), Tanned Equine and Bovine Hides ($820k), and Other Iron Products ($775k). Over the past 5 years the exports of Venezuela to Thailand have increased at an annualized rate of 48.4%, from $3.79M in 2017 to $27.2M in 2022.

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

Comparison: In 2022, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B). 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, Thailand exported $20.7M to Venezuela. The main products exported from Thailand to Venezuela were Non-Retail Synthetic Staple Fibers Yarn ($7.1M), Cars ($5.45M), and Household Washing Machines ($1.93M). During the last 5 years the exports of Thailand to Venezuela have decreased at an annualized rate of 15.1%, from $46.9M in 2017 to $20.7M in 2022.

In 2017, Venezuela exported $27.2M to Thailand. The main products exported from Venezuela to Thailand were Scrap Iron ($24.6M), Tanned Equine and Bovine Hides ($820k), and Other Iron Products ($775k). During the last 5 years the exports of Venezuela to Thailand have increased at an annualized rate of 48.4%, from $3.79M in 2022 to $27.2M in 2017.

Exports from Thailand () to Venezuela () (2022)

Exports from Venezuela () to Thailand () (2022)

Latest Data

Trade between Thailand () and Venezuela ()

Thailand Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$53.4B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Thailand than Venezuela included United States ($53.4B), China ($35.3B), and Japan ($24.6B).

In 2022, countries that imported more from Venezuela than Thailand included Montenegro ($75.9M) and Guyana ($28.9M).

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

Comparative Advantage Thailand - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Thailand had a large net trade with Venezuela in the exports of Textiles ($7.39M), Transportation ($5.55M), and Machines ($3.65M).

During 2017, Venezuela had a large net trade with Thailand in the exports of Metals ($25.6M), Animal Hides ($835k), and Vegetable Products ($441k).

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

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Historical Data

Bilateral Trade by Products

Exports from Thailand () to Venezuela () (2022)

Exports from Venezuela () to Thailand () (2022)

Latest Data

Trade between Thailand () and Venezuela ()

Thailand Exports

Market Competitiveness

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

Comparative Advantage Thailand - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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