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2023
Flag → Flag
Exports $60kRnk 93 / 122
2023
Flag → Flag
Top Product $20kIndustrial Food Preperation Machinery
2023
Flag → Flag
Exports $13.8MRnk 47 / 153
2023
Flag → Flag
Top Product $11.2MSoybean Oil
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
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Economic Complexity (ECI) ECI -0.42Rnk 81 / 132
2023
Flag
 GDP$43BCURRENT US$
Rnk 98 / 195
2013-2023
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GDP GROWTH11.6%CURRENT US$
Rnk 152 / 195
2023
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GDP PC$6,276CURRENT US$
Rnk 111 / 196
2013-2023
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GDP PC GROWTH-2.48%CURRENT US$
Rnk 157 / 195

About

Venezuela-Paraguay Trade: In 2023, Venezuela exported $60k to Paraguay. The main products that Venezuela exported to Paraguay were Industrial Food Preperation Machinery ($20k), Cereal Flours ($15.7k), and Other Plastic Sheetings ($9.7k). Over the past 5 years the exports of Venezuela to Paraguay have decreased at an annualized rate of 24%, from $237k in 2018 to $60k in 2023.

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

Paraguay-Venezuela Trade: In 2023, Paraguay exported $13.8M to Venezuela. The main products that Paraguay exported to Venezuela were Soybean Oil ($11.2M), Packaged Medicaments ($1.36M), and Starches ($650k). Over the past 5 years the exports of Paraguay to Venezuela have decreased at an annualized rate of 5.85%,  from $18.6M in 2018 to $13.8M in 2023.

In 2023, Paraguay 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, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Venezuela exported $60k to Paraguay. The main products exported from Venezuela to Paraguay were Industrial Food Preperation Machinery ($20k), Cereal Flours ($15.7k), and Other Plastic Sheetings ($9.7k). During the last 5 years the exports of Venezuela to Paraguay have decreased at an annualized rate of 24%, from $237k in 2018 to $60k in 2023.

In 2018, Paraguay exported $13.8M to Venezuela. The main products exported from Paraguay to Venezuela were Soybean Oil ($11.2M), Packaged Medicaments ($1.36M), and Starches ($650k). During the last 5 years the exports of Paraguay to Venezuela have decreased at an annualized rate of 5.85%, from $18.6M in 2023 to $13.8M in 2018.

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

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

Latest Data

Trade between Venezuela (Flag) and Paraguay (Flag)

Paraguay Exports

Market Competitiveness

Color
Venezuela
Top DestinationUnited States$3.81B
Paraguay
Top DestinationArgentina$4B

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

In 2023, countries that imported more from Venezuela than Paraguay included United States ($3.81B), China ($739M), and Spain ($670M).

In 2023, countries that imported more from Paraguay than Venezuela included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

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

Comparative Advantage Venezuela - Paraguay

Flow
Scale

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

During 2023, Venezuela had a large net trade with Paraguay in the exports of Machines ($20.8k), Vegetable Products ($15.7k), and Plastics and Rubbers ($9.75k).

During 2018, Paraguay had a large net trade with Venezuela in the exports of Animal and Vegetable Bi-Products ($11.2M), Chemical Products ($1.36M), and Vegetable Products ($715k).

Economic Complexity

Competitive Landscape

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

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

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