Türkiye-Venezuela Bilateral Trade Analysis 2023
Complete trade statistics: $729.57M total volume •Türkiye surplus: $1.88M
Türkiye → Venezuela
$365.73M
Exports (2023)
Venezuela → Türkiye
$363.84M
Imports (2023)
Trade Balance
$1.88M
Surplus for Türkiye
Total Trade
$729.57M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Türkiye and Venezuela. Green line shows exports from Türkiye, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Türkiye-Venezuela commercial relationship and competitive positioning in global markets.
Türkiye → Venezuela Exports
Export Market Intelligence
🎯 Strategic Export Focus
Türkiye's export portfolio to Venezuela demonstrates strategic specialization, with food preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise prepared representing a key competitive advantage in this bilateral market.
Venezuela → Türkiye Imports
Import Dependency Profile
📦 Import Strategy Analysis
Türkiye's import pattern from Venezuela reveals strategic sourcingin ferrous waste and scrap: n.e.c. in heading no. 7204, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Türkiye demonstrates competitive strength in exportingfood preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise prepared to Venezuela, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $729.57M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Türkiye-Venezuela Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $729.57 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Türkiye maintains a surplus of $1.88 million
- Export Focus: Türkiye's primary exports include food preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise prepared, wheat or meslin flour, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
- Import Dependencies: Key imports from Venezuela include ferrous waste and scrap: n.e.c. in heading no. 7204, fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution, petroleum coke: (not calcined), obtained from bituminous minerals
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 $729.57M 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 Türkiye leveraging its comparative advantages in food preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise prepared.
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
Türkiye's specialization in food preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise preparedcomplements Venezuela's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in ferrous waste and scrap: n.e.c. in heading no. 7204.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $729.57M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $729.57M 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 $729.57 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in food preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise prepared and ferrous waste and scrap: n.e.c. in heading no. 7204 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Türkiye's trade surplus of $1.88 million strengthens 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 Türkiye and Venezuela represents a total trade volume of $729.57 million in 2023. This partnership demonstrates a favorable trade balance for Türkiye, with exports exceeding importsby $1.88 million.
Export Strengths
Türkiye's exports to Venezuela total $365.73 million, with competitive advantages in food preparations: pasta, uncooked (excluding that containing eggs), not stuffed or otherwise prepared, representing $91.42M or25.0% of bilateral exports.
Import Dependencies
Imports from Venezuela amount to $363.84 million, highlighting economic interdependence in ferrous waste and scrap: n.e.c. in heading no. 7204, with Ferrous waste and scrap: n.e.c. in heading no. 7204 comprising74.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Türkiye's competitive position in this bilateral relationship. 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 Türkiye and Venezuela in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023