Venezuela (VEN) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Venezuela-Armenia Trade: In 2022, Venezuela exported $4.24k to Armenia. The main products that Venezuela exported to Armenia were Electric Heaters ($1.73k), Dried Legumes ($1.21k), and Low-voltage Protection Equipment ($440). Over the past 7 years the exports of Venezuela to Armenia have decreased at an annualized rate of 24.6%, from $30.5k in 2015 to $4.24k in 2022.

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

Armenia-Venezuela Trade: In 2022, Armenia exported $161k to Venezuela. The main products that Armenia exported to Venezuela were N/A. Over the past 7 years the exports of Armenia to Venezuela have increased at an annualized rate of 7.05%, from $114k in 2015 to $161k in 2022.

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

Comparison: In 2022, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). That same year, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Venezuela exported $4.24k to Armenia. The main products exported from Venezuela to Armenia were Electric Heaters ($1.73k), Dried Legumes ($1.21k), and Low-voltage Protection Equipment ($440). During the last 7 years the exports of Venezuela to Armenia have decreased at an annualized rate of 24.6%, from $30.5k in 2015 to $4.24k in 2022.

In 2007, Armenia exported $161k to Venezuela. There were not main exports from Armenia to Venezuela in 2007. During the last 5 years the exports of Armenia to Venezuela have increased at an annualized rate of 7.05%, from $114k in 2012 to $161k in 2007.

Exports from Venezuela () to Armenia () (2022)

Exports from Armenia () to Venezuela () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Armenia
Top DestinationRussia$2.36B

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

In 2022, countries that imported more from Venezuela than Armenia included Turkey ($597M), Spain ($518M), and Brazil ($361M).

In 2022, countries that imported more from Armenia than Venezuela included Russia ($2.36B), United Arab Emirates ($535M), and Georgia ($260M).

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

Comparative Advantage Venezuela - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Armenia in the exports of Machines ($2.17k), Vegetable Products ($1.21k), and Stone And Glass ($439).

During 2007, Armenia had a large net trade with Venezuela in the exports of .

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

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Armenia () (2022)

Exports from Armenia () to Venezuela () (2022)

Market Competitiveness

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

Comparative Advantage Venezuela - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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