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2023
Flag → Flag
Exports $13MRnk 30 / 122
2023
Flag → Flag
Top Product $7.36MDried Legumes
2023
Flag → Flag
Exports $26.6MRnk 137 / 216
2023
Flag → Flag
Top Product $14.1MCars
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.96Rnk 29 / 132
2023
Flag
 GDP$515BCURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP GROWTH22.5%CURRENT US$
Rnk 133 / 195
2023
Flag
GDP PC$7,182CURRENT US$
Rnk 102 / 196
2013-2023
Flag
GDP PC GROWTH19.3%CURRENT US$
Rnk 103 / 195

About

Venezuela-Thailand Trade: In 2023, Venezuela exported $13M to Thailand. The main products that Venezuela exported to Thailand were Dried Legumes ($7.36M), Scrap Iron ($2.44M), and Excavation Machinery ($1.5M). Over the past 5 years the exports of Venezuela to Thailand have increased at an annualized rate of 5.08%, from $10.2M in 2018 to $13M in 2023.

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

Thailand-Venezuela Trade: In 2023, Thailand exported $26.6M to Venezuela. The main products that Thailand exported to Venezuela were Cars ($14.1M), Household Washing Machines ($3.06M), and Non-Retail Synthetic Staple Fibers Yarn ($1.32M). Over the past 5 years the exports of Thailand to Venezuela have increased at an annualized rate of 25%,  from $8.72M in 2018 to $26.6M in 2023.

In 2023, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Venezuela exported $13M to Thailand. The main products exported from Venezuela to Thailand were Dried Legumes ($7.36M), Scrap Iron ($2.44M), and Excavation Machinery ($1.5M). During the last 5 years the exports of Venezuela to Thailand have increased at an annualized rate of 5.08%, from $10.2M in 2018 to $13M in 2023.

In 2018, Thailand exported $26.6M to Venezuela. The main products exported from Thailand to Venezuela were Cars ($14.1M), Household Washing Machines ($3.06M), and Non-Retail Synthetic Staple Fibers Yarn ($1.32M). During the last 5 years the exports of Thailand to Venezuela have increased at an annualized rate of 25%, from $8.72M in 2023 to $26.6M in 2018.

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

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

Latest Data

Trade between Venezuela (Flag) and Thailand (Flag)

Thailand Exports

Market Competitiveness

Color
Venezuela
Top DestinationUnited States$3.81B
Thailand
Top DestinationUnited States$58.5B

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

In 2023, countries that imported more from Venezuela than Thailand included Dominica ($10.5M).

In 2023, countries that imported more from Thailand than Venezuela included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

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

Comparative Advantage Venezuela - Thailand

Flow
Scale

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

During 2023, Venezuela had a large net trade with Thailand in the exports of Vegetable Products ($7.36M), Metals ($2.88M), and Machines ($1.9M).

During 2018, Thailand had a large net trade with Venezuela in the exports of Transportation ($15.7M), Machines ($5.14M), and Plastics and Rubbers ($2.26M).

Economic Complexity

Competitive Landscape

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

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

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