Venezuela (VEN) and Thailand (THA) Trade | The Observatory of Economic Complexity

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Venezuela-Thailand Trade: In 2022, Venezuela exported $27.2M to Thailand. The main products that Venezuela exported to Thailand were Scrap Iron ($24.6M), Tanned Equine and Bovine Hides ($820k), and Other Iron Products ($775k). Over the past 5 years the exports of Venezuela to Thailand have increased at an annualized rate of 48.4%, from $3.79M in 2017 to $27.2M in 2022.

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

Thailand-Venezuela Trade: In 2022, Thailand exported $20.7M to Venezuela. The main products that Thailand exported to Venezuela were N/A. Over the past 5 years the exports of Thailand to Venezuela have decreased at an annualized rate of 15.1%, from $46.9M in 2017 to $20.7M in 2022.

In 2022, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Venezuela exported $27.2M to Thailand. The main products exported from Venezuela to Thailand were Scrap Iron ($24.6M), Tanned Equine and Bovine Hides ($820k), and Other Iron Products ($775k). During the last 5 years the exports of Venezuela to Thailand have increased at an annualized rate of 48.4%, from $3.79M in 2017 to $27.2M in 2022.

In 2017, Thailand exported $20.7M to Venezuela. There were not main exports from Thailand to Venezuela in 2017. During the last 5 years the exports of Thailand to Venezuela have decreased at an annualized rate of 15.1%, from $46.9M in 2022 to $20.7M in 2017.

Exports from Venezuela () to Thailand () (2022)

Exports from Thailand () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Thailand ()

Thailand Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Thailand
Top DestinationUnited States$53.4B

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 2022, countries that imported more from Venezuela than Thailand included Montenegro ($75.9M) and Guyana ($28.9M).

In 2022, countries that imported more from Thailand than Venezuela included United States ($53.4B), China ($35.3B), and Japan ($24.6B).

Difference in imports from Thailand () and Venezuela () (2022)

Comparative Advantage Venezuela - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Thailand in the exports of Metals ($25.6M), Animal Hides ($835k), and Vegetable Products ($441k).

During 2017, Thailand had a large net trade with Venezuela in the exports of Textiles ($7.39M), Transportation ($5.55M), and Machines ($3.65M).

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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.

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Thailand () (2022)

Exports from Thailand () to Venezuela () (2022)

Latest Data

Trade between Venezuela () and Thailand ()

Thailand Exports

Market Competitiveness

Difference in imports from Thailand () and Venezuela () (2022)

Comparative Advantage Venezuela - Thailand

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Venezuela () and Thailand () (2022)

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