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2022
Flag → Flag
Exports $228MRnk 6 / 126
2022
Flag → Flag
Top Product $97.6MPetroleum Coke
2022
Flag → Flag
Exports $189MRnk 123 / 217
2022
Flag → Flag
Top Product $92.3MPackaged Medicaments
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
Flag
 GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
GDP PC$2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 186

About

Venezuela-India Trade: In 2022, Venezuela exported $228M to India. The main products that Venezuela exported to India were Petroleum Coke ($97.6M), Scrap Iron ($85.2M), and Acyclic Alcohols ($32.5M). Over the past 5 years the exports of Venezuela to India have decreased at an annualized rate of 47.8%, from $5.9B in 2017 to $228M in 2022.

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

India-Venezuela Trade: In 2022, India exported $189M to Venezuela. The main products that India exported to Venezuela were Packaged Medicaments ($92.3M), Heavy Mixed Woven Cotton ($14.7M), and Vaccines, blood, antisera, toxins and cultures ($14.1M). Over the past 5 years the exports of India to Venezuela have increased at an annualized rate of 18.2%,  from $81.6M in 2017 to $189M in 2022.

In 2022, India 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, India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Venezuela exported $228M to India. The main products exported from Venezuela to India were Petroleum Coke ($97.6M), Scrap Iron ($85.2M), and Acyclic Alcohols ($32.5M). During the last 5 years the exports of Venezuela to India have decreased at an annualized rate of 47.8%, from $5.9B in 2017 to $228M in 2022.

In 2017, India exported $189M to Venezuela. The main products exported from India to Venezuela were Packaged Medicaments ($92.3M), Heavy Mixed Woven Cotton ($14.7M), and Vaccines, blood, antisera, toxins and cultures ($14.1M). During the last 5 years the exports of India to Venezuela have increased at an annualized rate of 18.2%, from $81.6M in 2022 to $189M in 2017.

Exports from Venezuela (Flag) to India (Flag) (2022)

Exports from India (Flag) to Venezuela (Flag) (2022)

Latest Data

Trade between Venezuela (Flag) and India (Flag)

India Exports

Market Competitiveness

Color
Venezuela
Top DestinationChina$703M
India
Top DestinationUnited States$82.9B

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

In 2022, countries that imported more from Venezuela than India included Montenegro ($75.9M).

In 2022, countries that imported more from India than Venezuela included United States ($82.9B), United Arab Emirates ($31.6B), and Netherlands ($17.6B).

Difference in imports from India (Flag) and Venezuela (Flag) (2022)

Comparative Advantage Venezuela - India

Flow
Scale

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

During 2022, Venezuela had a large net trade with India in the exports of Mineral Products ($97.6M), Metals ($92M), and Chemical Products ($33.8M).

During 2017, India had a large net trade with Venezuela in the exports of Chemical Products ($124M), Textiles ($29.5M), and Metals ($6.93M).

Economic Complexity

Competitive Landscape

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

Product Space of Venezuela (Flag) and India (Flag) (2022)

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