Venezuela-Colombia Bilateral Trade Analysis 2023
Complete trade statistics: $804.20M total volume •Venezuela deficit: $542.50M
Venezuela → Colombia
$130.85M
Exports (2023)
Colombia → Venezuela
$673.35M
Imports (2023)
Trade Balance
$542.50M
Deficit for Venezuela
Total Trade
$804.20M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Venezuela and Colombia. Green line shows exports from Venezuela, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Venezuela-Colombia commercial relationship and competitive positioning in global markets.
Venezuela → Colombia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Venezuela's export portfolio to Colombia demonstrates strategic specialization, with fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution representing a key competitive advantage in this bilateral market.
Colombia → Venezuela Imports
Import Dependency Profile
📦 Import Strategy Analysis
Venezuela's import pattern from Colombia reveals significant dependencyin sugar confectionery: (excluding chewing gum, including white chocolate), not containing cocoa, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Venezuela demonstrates competitive strength in exportingfertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution to Colombia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $804.20M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Venezuela-Colombia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $804.20 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Venezuela maintains a deficit of $542.50 million
- Export Focus: Venezuela's primary exports include fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution, electric accumulators: lead-acid, of a kind used for starting piston engines, including separators, whether or not rectangular (including square), tissue, towel, napkin stock or similar: for household or sanitary use, cellulose, wadding webs of cellulose fibres, in rolls exceeding 36cm in width or rectangular sheets with one side more than 36cm in unfolded state
- Import Dependencies: Key imports from Colombia include sugar confectionery: (excluding chewing gum, including white chocolate), not containing cocoa, 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, fertilizers, mineral or chemical: containing the three fertilizing elements nitrogen, phosphorus and potassium
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 $804.20M 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 Venezuela leveraging its comparative advantages in fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution.
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
Venezuela's specialization in fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solutioncomplements Colombia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in sugar confectionery: (excluding chewing gum, including white chocolate), not containing cocoa.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $804.20M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $804.20M 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 $804.20 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution and sugar confectionery: (excluding chewing gum, including white chocolate), not containing cocoa demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Venezuela's trade deficit of $542.50 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 Venezuela and Colombia represents a total trade volume of $804.20 million in 2023. This partnership demonstrates an unfavorable trade balance for Venezuela, with imports exceeding exportsby $542.50 million.
Export Strengths
Venezuela's exports to Colombia total $130.85 million, with competitive advantages in fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution, representing $39.58M or30.2% of bilateral exports.
Import Dependencies
Imports from Colombia amount to $673.35 million, highlighting economic interdependence in sugar confectionery: (excluding chewing gum, including white chocolate), not containing cocoa, with Sugar confectionery: (excluding chewing gum, including white chocolate), not containing cocoa comprising8.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Venezuela's strategic sourcing from Colombia. 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 Venezuela and Colombia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023