Turkey (TUR) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Turkey-Venezuela Trade: In 2022, Turkey exported $366M to Venezuela. The main products that Turkey exported to Venezuela were Pasta ($116M), Wheat Flours ($90.1M), and Other Prepared Meat ($17.2M). Over the past 5 years the exports of Turkey to Venezuela have increased at an annualized rate of 57%, from $38.4M in 2017 to $366M in 2022.

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

Venezuela-Turkey Trade: In 2022, Venezuela exported $597M to Turkey. The main products that Venezuela exported to Turkey were Scrap Iron ($404M), Iron Reductions ($105M), and Petroleum Coke ($70.7M). Over the past 5 years the exports of Venezuela to Turkey have increased at an annualized rate of 42.5%, from $102M in 2017 to $597M in 2022.

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

Comparison: In 2022, Turkey ranked 41 in the Economic Complexity Index (ECI 0.6), and 29 in total exports ($262B). 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, Turkey exported $366M to Venezuela. The main products exported from Turkey to Venezuela were Pasta ($116M), Wheat Flours ($90.1M), and Other Prepared Meat ($17.2M). During the last 5 years the exports of Turkey to Venezuela have increased at an annualized rate of 57%, from $38.4M in 2017 to $366M in 2022.

In 2017, Venezuela exported $597M to Turkey. The main products exported from Venezuela to Turkey were Scrap Iron ($404M), Iron Reductions ($105M), and Petroleum Coke ($70.7M). During the last 5 years the exports of Venezuela to Turkey have increased at an annualized rate of 42.5%, from $102M in 2022 to $597M in 2017.

Exports from Turkey () to Venezuela () (2022)

Exports from Venezuela () to Turkey () (2022)

Latest Data

Trade between Turkey () and Venezuela ()

Turkey Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Turkey
Top DestinationGermany$21.9B

Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Turkey than Venezuela included Germany ($21.9B), United States ($17.1B), and Iraq ($13.7B).

In 2022, no countries were registered that imported more from Venezuela than from Turkey.

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

Comparative Advantage Turkey - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Turkey had a large net trade with Venezuela in the exports of Foodstuffs ($170M), Vegetable Products ($90.6M), and Chemical Products ($23.6M).

During 2017, Venezuela had a large net trade with Turkey in the exports of Metals ($519M), Mineral Products ($70.7M), and Vegetable Products ($2.7M).

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

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Historical Data

Bilateral Trade by Products

Exports from Turkey () to Venezuela () (2022)

Exports from Venezuela () to Turkey () (2022)

Latest Data

Trade between Turkey () and Venezuela ()

Turkey Exports

Market Competitiveness

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

Comparative Advantage Turkey - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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