Venezuela / Portugal

Venezuela-Portugal Trade: In 2022, Venezuela exported $14.9M to Portugal. The main products that Venezuela exported to Portugal were Iron Reductions ($11M), Scrap Iron ($3.12M), and Processed Crustaceans ($414k). Over the past 5 years the exports of Venezuela to Portugal have decreased at an annualized rate of 10.3%, from $25.6M in 2017 to $14.9M in 2022.

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

Portugal-Venezuela Trade: In 2022, Portugal exported $10.5M to Venezuela. The main products that Portugal exported to Venezuela were Pure Olive Oil ($843k), Packaged Medicaments ($550k), and Other Furniture ($500k). Over the past 5 years the exports of Portugal to Venezuela have increased at an annualized rate of 0.97%,  from $10M in 2017 to $10.5M in 2022.

In 2017, Portugal exported services to Venezuela worth $1.13M, with Travel ($1.13M) 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).