2023
Flag
 GDP
$45.1BCURRENT US$
Rnk 96 / 195
2013-2023
Flag
GDP GROWTH
47.2%CURRENT US$
Rnk 80 / 195
2023
Flag
GDP PC
$3,686CURRENT US$
Rnk 135 / 196
2013-2023
Flag
GDP PC GROWTH
28.4%CURRENT US$
Rnk 82 / 195

About

Venezuela-Bolivia Trade: In 2023, Venezuela exported $4.1M to Bolivia. The main products that Venezuela exported to Bolivia were Other Oily Seeds ($2.58M), Cocoa Powder ($741k), and Asphalt Mixtures ($282k). Over the past 5 years the exports of Venezuela to Bolivia have increased at an annualized rate of 15.4%, from $2M in 2018 to $4.1M in 2023.

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

Bolivia-Venezuela Trade: In 2023, Bolivia exported $4.99M to Venezuela. The main products that Bolivia exported to Venezuela were Concentrated Milk ($2.07M), Refined Petroleum ($1.32M), and Wood Fiberboard ($1.07M). Over the past 5 years the exports of Bolivia to Venezuela have increased at an annualized rate of 1.93%,  from $4.53M in 2018 to $4.99M in 2023.

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

Comparison: In 2023,  Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B). That same year, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Venezuela exported $4.1M to Bolivia. The main products exported from Venezuela to Bolivia were Other Oily Seeds ($2.58M), Cocoa Powder ($741k), and Asphalt Mixtures ($282k). During the last 5 years the exports of Venezuela to Bolivia have increased at an annualized rate of 15.4%, from $2M in 2018 to $4.1M in 2023.

In 2018, Bolivia exported $4.99M to Venezuela. The main products exported from Bolivia to Venezuela were Concentrated Milk ($2.07M), Refined Petroleum ($1.32M), and Wood Fiberboard ($1.07M). During the last 5 years the exports of Bolivia to Venezuela have increased at an annualized rate of 1.93%, from $4.53M in 2023 to $4.99M in 2018.

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

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

Latest Data

Trade between Venezuela (Flag) and Bolivia (Flag)

Bolivia Exports

Market Competitiveness

Color
Venezuela
Top Destination
United States$3.81B
Bolivia
Top Destination
Brazil$1.54B

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

In 2023, countries that imported more from Venezuela than Bolivia included United States ($3.81B), Spain ($670M), and Turkey ($364M).

In 2023, countries that imported more from Bolivia than Venezuela included Argentina ($1.15B), India ($1.33B), and Brazil ($1.54B).

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

Comparative Advantage Venezuela - Bolivia

Flow
Scale

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

During 2023, Venezuela had a large net trade with Bolivia in the exports of Vegetable Products ($2.58M), Foodstuffs ($741k), and Mineral Products ($499k).

During 2018, Bolivia had a large net trade with Venezuela in the exports of Animal Products ($2.07M), Mineral Products ($1.32M), and Wood Products ($1.07M).

Economic Complexity

Competitive Landscape

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

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

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