2022
Exports
$3.57MWorld Rnk 123 / 223
Flag Rnk 34 / 91
2022
PRODUCT COMPLEXITY IN Pharmaceutical products
1.38Rnk 75 / 1025
2022
Imports
$324MWorld Rnk 110 / 226
Flag Rnk 9 / 96
2022
ECONOMIC COMPLEXITY of Venezuela
-0.87Rnk 107 / 133

About

Exports In 2022, Venezuela exported $3.57M in Pharmaceutical products, making it the 123rd largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 34th most exported product in Venezuela. The main destination of Pharmaceutical products exports from Venezuela are: Ecuador ($1.82M), Bahamas ($350k), Nicaragua ($315k), Panama ($239k), and El Salvador ($179k).

The fastest growing export markets for Pharmaceutical products of Venezuela between 2021 and 2022 were Ecuador ($1.55M), Bahamas ($350k), and Nicaragua ($235k).

Imports In 2022, Venezuela imported $324M in Pharmaceutical products, becoming the 110th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 9th most imported product in Venezuela. Venezuela imports Pharmaceutical products primarily from: India ($110M), China ($101M), Nicaragua ($20.1M), Colombia ($16.2M), and United States ($11M).

The fastest growing import markets in Pharmaceutical products for Venezuela between 2021 and 2022 were China ($35.5M), India ($27.9M), and Germany ($5.45M).

Latest Trends

Jul 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Pharmaceutical products. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.57M
IMPORTS (2022)$324M
NET TRADE (2022)-$321M

In 2022, Venezuela exported $3.57M in Pharmaceutical products. The main destinations of Venezuela exports on Pharmaceutical products were Ecuador ($1.82M), Bahamas ($350k), Nicaragua ($315k), Panama ($239k), and El Salvador ($179k).

In 2022, Venezuela imported $324M in Pharmaceutical products, mainly from India ($110M), China ($101M), Nicaragua ($20.1M), Colombia ($16.2M), and United States ($11M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Venezuela WERE (2021 - 2022):
Ecuador$1.55M (567%)
Bahamas$350k (1%)
Nicaragua$235k (294%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Venezuela WERE (2021 - 2022):
Panama-$251k (-51.2%)
Honduras-$172k (-100%)
North Macedonia-$21.9k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Venezuela's main exporting competitors in Pharmaceutical products were:
In 2022, Venezuela's main importing competitors in Pharmaceutical products were:

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
N/A
N/AN/A
N/AN/A

Pharmaceutical products’s highest export potential is N/A. With an export gap of N/A.   Pharmaceutical products’s highest import potential is N/A with an import gap of N/A.

See methodology.

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