Venezuela / Italy

Venezuela-Italy Trade: In 2022, Venezuela exported $97.9M to Italy. The main products that Venezuela exported to Italy were Crude Petroleum ($58.7M), Hard Liquor ($16.4M), and Tanned Equine and Bovine Hides ($5.78M). Over the past 5 years the exports of Venezuela to Italy have decreased at an annualized rate of 10.7%, from $172M in 2017 to $97.9M in 2022.

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

Italy-Venezuela Trade: In 2022, Italy exported $134M to Venezuela. The main products that Italy exported to Venezuela were Other Furniture ($8.55M), Cars ($5.05M), and Industrial Food Preperation Machinery ($4.65M). Over the past 5 years the exports of Italy to Venezuela have decreased at an annualized rate of 3.43%,  from $166M in 2017 to $134M in 2022.

In 2020, Italy exported services to Venezuela worth $11.2M, with Other business services ($4.68M), Travel ($3.54M), and Communications services ($1.37M) being the largest in terms of value.

Comparison: In 2022,  Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).