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2023
Flag → Flag
Exports $364MRnk 5 / 122
2023
Flag → Flag
Top Product $272MScrap Iron
2023
Flag → Flag
Exports $366MRnk 85 / 216
2023
Flag → Flag
Top Product $91.4MPasta
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.62Rnk 41 / 132
2023
Flag
 GDP$1.12TCURRENT US$
Rnk 18 / 195
2013-2023
Flag
GDP GROWTH16.8%CURRENT US$
Rnk 149 / 195
2023
Flag
GDP PC$13,106CURRENT US$
Rnk 77 / 196
2013-2023
Flag
GDP PC GROWTH4.19%CURRENT US$
Rnk 147 / 195

About

Venezuela-Turkey Trade: In 2023, Venezuela exported $364M to Turkey. The main products that Venezuela exported to Turkey were Scrap Iron ($272M), Nitrogenous Fertilizers ($27.5M), and Petroleum Coke ($16.8M). Over the past 5 years the exports of Venezuela to Turkey have decreased at an annualized rate of 18.5%, from $1.01B in 2018 to $364M in 2023.

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

Turkey-Venezuela Trade: In 2023, Turkey exported $366M to Venezuela. The main products that Turkey exported to Venezuela were Pasta ($91.4M), Wheat Flours ($89M), and Refined Petroleum ($32.7M). Over the past 5 years the exports of Turkey to Venezuela have increased at an annualized rate of 22.2%,  from $134M in 2018 to $366M in 2023.

In 2023, Turkey 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, Turkey ranked 41 in the Economic Complexity Index (ECI 0.62), and 28 in total exports ($272B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Venezuela exported $364M to Turkey. The main products exported from Venezuela to Turkey were Scrap Iron ($272M), Nitrogenous Fertilizers ($27.5M), and Petroleum Coke ($16.8M). During the last 5 years the exports of Venezuela to Turkey have decreased at an annualized rate of 18.5%, from $1.01B in 2018 to $364M in 2023.

In 2018, Turkey exported $366M to Venezuela. The main products exported from Turkey to Venezuela were Pasta ($91.4M), Wheat Flours ($89M), and Refined Petroleum ($32.7M). During the last 5 years the exports of Turkey to Venezuela have increased at an annualized rate of 22.2%, from $134M in 2023 to $366M in 2018.

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

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

Latest Data

Trade between Venezuela (Flag) and Turkey (Flag)

Turkey Exports

Market Competitiveness

Color
Venezuela
Top DestinationUnited States$3.81B
Turkey
Top DestinationGermany$24.7B

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

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

In 2023, countries that imported more from Turkey than Venezuela included Germany ($24.7B), United Kingdom ($15.1B), and United Arab Emirates ($14.7B).

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

Comparative Advantage Venezuela - Turkey

Flow
Scale

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

During 2023, Venezuela had a large net trade with Turkey in the exports of Metals ($302M), Chemical Products ($28.4M), and Mineral Products ($16.8M).

During 2018, Turkey had a large net trade with Venezuela in the exports of Foodstuffs ($137M), Vegetable Products ($90.6M), and Mineral Products ($32.9M).

Economic Complexity

Competitive Landscape

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

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

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