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How dependent is Venezuela on China?

In 2024, China sold $4.8 billion to Venezuela, 35.1% of its imports, ranking 1st among its suppliers. Its share was 24.2% in 2019 and 0.55% in 1995. In 263 products it sells more than 50% of what Venezuela buys of them (in 153, more than 75%); what Venezuela buys from China in those products (dominated value) adds up to $3.9 billion, 28.5% of its imports.

Summary

Share of its imports
35.1%
Value imported
$4.8billion
Rank among its suppliers
1st
Products where it sells over 50%
263
Products where it sells over 75%
153
Dominated value
$3.9billion
Share of total imports
28.5%

Trend

Trend in shares

China went from 0.55% to 35.1% of what Venezuela buys

Share (%)

  • China 35.1%

Source: CEPII BACI

Show the numbers
YearValue (USD millions)ShareRank
1995660.55%22
1996490.48%26
19971150.79%22
19981000.62%24
19991160.81%21
20002371.5%16
20014382.4%11
20022682.1%11
20032132.3%11
20045393.3%7
20059183.9%5
20061,7916.3%4
20072,4286.7%4
20084,5749.3%4
20094,12710.4%3
20103,96810.9%2
20116,79813.5%2
201210,03316.8%2
20136,99015.6%2
20145,65714.9%2
20155,31619.1%2
20162,51916.2%2
20171,74617%2
20181,14510.1%2
20191,53924.2%1
20201,51823.4%1
20212,13529.7%1
20223,00831.2%1
20233,44933.9%1
20244,79935.1%1

Products where China sells more than half

ProductSupplierShareSecondValue
MotorcyclesChina96.1%over 75%India · 1.7%$355 million
Air conditionersChina95.8%over 75%United States · 2.5%$215 million
New tiresChina88.6%over 75%United States · 5%$148 million
Monitors and projectorsChina91%over 75%United States · 7.2%$147 million
Refrigerators, freezers and heat pumpsChina82.6%over 75%United States · 4.7%$105 million
Rubber and plastic footwearChina96.7%over 75%Brazil · 1.8%$96 million
Auto partsChina57.7%United States · 26.7%$92 million
Motorcycle and bicycle partsChina76.8%over 75%United States · 22.1%$85 million
Lamps and light fittingsChina96.1%over 75%United States · 0.98%$73 million
ToysChina94.8%over 75%United States · 3.1%$68 million
Detergents and surfactantsChina55.3%Colombia · 25.5%$61 million
Other knitted fabricChina91.7%over 75%Peru · 3.9%$57 million
Cables and wireChina78.3%over 75%Brazil · 7.4%$56 million
Toilet paper and tissuesChina66.1%Colombia · 20.4%$54 million
Other plastic articlesChina69.4%United States · 9.5%$49 million
Air pumps, compressors and fansChina63.2%Italy · 12.4%$48 million
Medical and dental instrumentsChina62.4%United States · 17.1%$48 million
Plastic pipes and hosesChina77.6%over 75%Brazil · 4.7%$47 million
Electric heaters and hair dryersChina81%over 75%United States · 10.3%$44 million
Washing machinesChina78.7%over 75%United States · 8.1%$43 million
Bags, suitcases and casesChina88.9%over 75%Spain · 3.2%$42 million
Transformers and power suppliesChina69.1%United States · 15.4%$42 million
FurnitureChina57.7%United States · 11.7%$40 million
Non-electric stoves, cookers and barbecuesChina90.7%over 75%Brazil · 3.8%$40 million
Coated flat steelChina69.2%Colombia · 24.9%$39 million
TrucksChina63.2%Japan · 12.5%$38 million
Women's suits and dressesChina82%over 75%Peru · 6.1%$34 million
Generating setsChina89.1%over 75%United States · 4.8%$34 million
Control panelsChina74.1%Colombia · 12.4%$34 million
Low-voltage switches and connectorsChina78%over 75%United States · 6.2%$33 million

and 233 more

A product has a dominant supplier when a single country sells more than 50% of what is bought of it; we flag it separately above 75%.

Are there other suppliers in the world?

Exports from the rest of the world already have buyers; the figure shows scale, not availability.

Seen from China

Venezuela is China’s 80th-largest customer, with 0.13% of its exports.

Sources and method

Sources and licenses

Methodology

The data come from CEPII BACI (Etalab 2.0 licence), which reconciles what the exporting and the importing country report, in current USD, FOB. Data up to 2024.

Dependence is the share of a country’s imports (or exports) that each partner accounts for. It does not measure whether a product has a substitute or how much it would cost to change supplier.

The concentration index (HHI) adds up the square of each partner’s share, in percent: it runs from 0 to 10,000. Its equivalent is 10,000 ÷ HHI, the number of partners of the same size that would give that value.

Products are HS4 headings of the 1992 nomenclature (some combine different goods), with a floor of $1 million per product and country.

The EU is the 27 current members in every year; the United Kingdom is outside the EU throughout the series.

Re-exports: countries that act as redistribution hubs carry their notice and the figures are not corrected.