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2022
Exports $16.3MWorld Rnk 137 / 214
Flag Rnk 28 / 665
2022
Destination $11.3M Guyana
2021 - 2022
FASTEST GROWING MARKET $11.3MGuyana
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $195MWorld Rnk 162 / 225
Flag Rnk 8 / 1063
2022
Origin $54.6M United States
2021 - 2022
FASTEST GROWING ORIGIN $54.6MUnited States
2022
ECONOMIC COMPLEXITY of Venezuela-0.87Rnk 107 / 133

About

Exports In 2022, Venezuela exported $16.3M in Refined Petroleum, making it the 137th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 28th most exported product in Venezuela. The main destination of Refined Petroleum exports from Venezuela are: Guyana ($16.3M), Norway ($26.5k), Bahamas ($16.5k), India ($5.7k), and Grenada ($5.13k).

The fastest growing export markets for Refined Petroleum of Venezuela between 2021 and 2022 were Guyana ($11.3M), Norway ($26.5k), and Bahamas ($16.5k).

Imports In 2022, Venezuela imported $195M in Refined Petroleum, becoming the 162nd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 8th most imported product in Venezuela. Venezuela imports Refined Petroleum primarily from: United States ($97.8M), Colombia ($23M), Turkey ($14.6M), United Arab Emirates ($14M), and Brazil ($12.1M).

The fastest growing import markets in Refined Petroleum for Venezuela between 2021 and 2022 were United States ($54.6M), Colombia ($11.7M), and Turkey ($10.6M).

Latest Trends

Oct 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 Refined Petroleum. 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)$16.3M
IMPORTS (2022)$195M
NET TRADE (2022)-$179M

In 2022, Venezuela exported $16.3M in Refined Petroleum. The main destinations of Venezuela exports on Refined Petroleum were Guyana ($16.3M), Norway ($26.5k), Bahamas ($16.5k), India ($5.7k), and Grenada ($5.13k).

In 2022, Venezuela imported $195M in Refined Petroleum, mainly from United States ($97.8M), Colombia ($23M), Turkey ($14.6M), United Arab Emirates ($14M), and Brazil ($12.1M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Venezuela WERE (2021 - 2022):
Guyana$11.3M (226%)
Norway$26.5k (1%)
Bahamas$16.5k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Venezuela WERE (2021 - 2022):
United Arab Emirates-$37.3k (-100%)
Grenada-$3.51k (-40.7%)
Spain-$757 (-63.9%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Venezuela's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Venezuela's main importing competitors in Refined Petroleum were:
United States $81.7B
Singapore $58.5B
Netherlands $51.1B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

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

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

See methodology.

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