Venezuela (VEN) and Canada (CAN) Trade | The Observatory of Economic Complexity

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Venezuela-Canada Trade: In 2023, Venezuela exported $16.8M to Canada. The main products that Venezuela exported to Canada were Cocoa Beans ($5.73M), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($4.56M), and Cocoa Paste ($1.55M). Over the past 5 years the exports of Venezuela to Canada have increased at an annualized rate of 0.065%, from $16.7M in 2018 to $16.8M in 2023.

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

Canada-Venezuela Trade: In 2023, Canada exported $191M to Venezuela. The main products that Canada exported to Venezuela were Wheat ($151M), Dried Legumes ($16.9M), and Sulfate Chemical Woodpulp ($7.69M). Over the past 5 years the exports of Canada to Venezuela have increased at an annualized rate of 23%, from $67.8M in 2018 to $191M in 2023.

In 2020, Canada exported services to Venezuela worth $17.9M, with Travel ($17.9M) being the largest in terms of value.

Comparison: In 2023, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B). That same year, Canada ranked 30 in the Economic Complexity Index (ECI 0.9), and 10 in total exports ($574B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Venezuela exported $16.8M to Canada. The main products exported from Venezuela to Canada were Cocoa Beans ($5.73M), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($4.56M), and Cocoa Paste ($1.55M). During the last 5 years the exports of Venezuela to Canada have increased at an annualized rate of 0.065%, from $16.7M in 2018 to $16.8M in 2023.

In 2018, Canada exported $191M to Venezuela. The main products exported from Canada to Venezuela were Wheat ($151M), Dried Legumes ($16.9M), and Sulfate Chemical Woodpulp ($7.69M). During the last 5 years the exports of Canada to Venezuela have increased at an annualized rate of 23%, from $67.8M in 2023 to $191M in 2018.

Exports from Venezuela () to Canada () (2023)

Exports from Canada () to Venezuela () (2023)

Latest Data

Trade between Venezuela () and Canada ()

Canada Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationUnited States$3.81B

Canada
Top DestinationUnited States$410B

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

In 2023, countries that imported more from Venezuela than Canada included Lebanon ($106M) and Dominica ($10.5M).

In 2023, countries that imported more from Canada than Venezuela included United States ($410B), China ($31.1B), and United Kingdom ($18B).

Difference in imports from Canada () and Venezuela () (2023)

Comparative Advantage Venezuela - Canada

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Venezuela had a large net trade with Canada in the exports of Foodstuffs ($8.77M), Chemical Products ($4.78M), and Animal Products ($1.65M).

During 2018, Canada had a large net trade with Venezuela in the exports of Vegetable Products ($170M), Paper Goods ($8.43M), and Machines ($5.04M).

Bilateral Service Trade

Can Year

In 2020, Canada exported services to Venezuela worth $17.9M, with Travel ($17.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Canada () to Venezuela () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Canada () (2023)

Exports from Canada () to Venezuela () (2023)

Latest Data

Trade between Venezuela () and Canada ()

Canada Exports

Market Competitiveness

Difference in imports from Canada () and Venezuela () (2023)

Comparative Advantage Venezuela - Canada

Bilateral Service Trade

Services Exports from Canada () to Venezuela () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Venezuela () and Canada () (2023)

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