Norway-Venezuela Bilateral Trade Analysis 2023
Complete trade statistics: $25.48M total volume •Norway deficit: $25.48M
Norway → Venezuela
$0
Exports (2023)
Venezuela → Norway
$25.48M
Imports (2023)
Trade Balance
$25.48M
Deficit for Norway
Total Trade
$25.48M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Norway and Venezuela. Green line shows exports from Norway, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Norway-Venezuela commercial relationship and competitive positioning in global markets.
Norway → Venezuela Exports
Export Market Intelligence
🎯 Strategic Export Focus
Norway's export portfolio to Venezuela demonstrates strategic specialization, with fish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than cod representing a key competitive advantage in this bilateral market.
Venezuela → Norway Imports
Import Dependency Profile
📦 Import Strategy Analysis
Norway's import pattern from Venezuela reveals significant dependencyin aluminium: unwrought, alloys, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Norway demonstrates competitive strength in exportingfish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than cod to Venezuela, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $25.48M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Norway-Venezuela Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $25.48 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Norway maintains a deficit of $25.48 million
- Export Focus: Norway's primary exports include fish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than cod, acids: saturated acyclic monocarboxylic acids: salts of formic acids, fish: smoked, whether or not cooked before or during smoking, salmon, pacific (oncorhynchus nerka, gorbuscha, keta, tschawytscha, kisutch, masou, rhodurus), atlantic (salmo salar) and danube (hucho hucho), includes fillets, but excludes edible fish offal
- Import Dependencies: Key imports from Venezuela include aluminium: unwrought, alloys, rum and other spirits obtained by distilling fermented sugar-cane products, cases and containers: n.e.c. in heading 4202, with outer surface of sheeting of plastics or of textile materials
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 $25.48M 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 Norway leveraging its comparative advantages in fish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than cod.
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
Norway's specialization in fish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than codcomplements Venezuela's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in aluminium: unwrought, alloys.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $25.48M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $25.48M 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 $25.48 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in fish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than cod and aluminium: unwrought, alloys demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Norway's trade deficit of $25.48 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 Norway and Venezuela represents a total trade volume of $25.48 million in 2023. This partnership demonstrates an unfavorable trade balance for Norway, with imports exceeding exportsby $25.48 million.
Export Strengths
Norway's exports to Venezuela total $0.00, with competitive advantages in fish: dried, whether or not salted but not smoked, fish of the families bregmacerotidae, euclichthyidae, gadidae, macrouridae, melanonidae, merlucciidae, moridae and muraenolepididae, other than cod, representing $328,583 orInfinity% of bilateral exports.
Import Dependencies
Imports from Venezuela amount to $25.48 million, highlighting economic interdependence in aluminium: unwrought, alloys, with Aluminium: unwrought, alloys comprising98.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Norway'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 Norway and Venezuela in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023