Dominican Rep.-Venezuela Bilateral Trade Analysis 2023
Complete trade statistics: $42.82M total volume •Dominican Rep. deficit: $42.82M
Dominican Rep. → Venezuela
$0
Exports (2023)
Venezuela → Dominican Rep.
$42.82M
Imports (2023)
Trade Balance
$42.82M
Deficit for Dominican Rep.
Total Trade
$42.82M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Dominican Rep. and Venezuela. Green line shows exports from Dominican Rep., red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Dominican Rep.-Venezuela commercial relationship and competitive positioning in global markets.
Dominican Rep. → Venezuela Exports
Export Market Intelligence
🎯 Strategic Export Focus
Dominican Rep.'s export portfolio to Venezuela demonstrates strategic specialization, with medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale representing a key competitive advantage in this bilateral market.
Venezuela → Dominican Rep. Imports
Import Dependency Profile
📦 Import Strategy Analysis
Dominican Rep.'s import pattern from Venezuela reveals significant dependencyin iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Dominican Rep. demonstrates competitive strength in exportingmedicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale to Venezuela, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $42.82M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Dominican Rep.-Venezuela Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $42.82 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Dominican Rep. maintains a deficit of $42.82 million
- Export Focus: Dominican Rep.'s primary exports include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, ethylene polymers: in primary forms, n.e.c. in heading no. 3901, vinyl acetate copolymers: in aqueous dispersion, in primary forms
- Import Dependencies: Key imports from Venezuela include iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon, iron or non-alloy steel: semi-finished products of iron or non-alloy steel: containing by weight less than 0.25% of carbon, of rectangular (including square) cross-section, width less than twice thickness, rum and other spirits obtained by distilling fermented sugar-cane products
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $42.82M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Dominican Rep. leveraging its comparative advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Dominican Rep.'s specialization in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail salecomplements Venezuela's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $42.82M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $42.82M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $42.82 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale and iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Dominican Rep.'s trade deficit of $42.82 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Dominican Rep. and Venezuela represents a total trade volume of $42.82 million in 2023. This partnership demonstrates an unfavorable trade balance for Dominican Rep., with imports exceeding exportsby $42.82 million.
Export Strengths
Dominican Rep.'s exports to Venezuela total $0.00, with competitive advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, representing $4.30M orInfinity% of bilateral exports.
Import Dependencies
Imports from Venezuela amount to $42.82 million, highlighting economic interdependence in iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon, with Iron or non-alloy steel: semi-finished products of iron or non-alloy steel, containing by weight 0.25% or more of carbon comprising49.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Dominican Rep.'s strategic sourcing from Venezuela. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Dominican Rep. and Venezuela in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023