Canada–Venezuela
Venezuela's Profile
Economic Indicators
- Gross domestic product (GDP) at purchasing power parity (PPP): US$542.2 billion (2014)
- GDP per capita at PPP: US$17,600 (2014)
- Population: 32.0 million (2017)
- International merchandise exports and imports: 24.4% of GDP at official exchange rates (2014)
- Canada's 82nd largest merchandise trade partner (2017)
- Canada's 53rd largest services trade partner (2016)
- Ease of Doing Business ranking: 188th among 190 countries (2017)
- World Competitiveness ranking: 127th among 137 countries (2017)
Notable Trade and Investment Agreements between Canada and Venezuela
- Canada–Venezuela Foreign Investment Promotion and Protection Agreement (1998)
Notes
The Library of Parliament's Trade and Investment series provides information on Canada's trade and investment relationship with the world and with selected countries. It also describes the trade relationship of each of Canada's 10 provinces and three territories with the world. In addition, it presents Canada's merchandise trade relationship with each of the United States' 50 states.
All figures were prepared using Statistics Canada data available in spring 2018.
To see the data tables used to generate the figures, view the HTML version of this profile at Trade and Investment Series 2017.
The merchandise trade data are customs‑based; the services trade data and foreign direct investment data are balance of payments–based.
Numbers in this profile have been rounded.
All dollar amounts are in Canadian dollars unless otherwise noted.
Definitions appear at the end of this profile.
Definitions are available.
The five most highly valued merchandise export and import categories have been identified based on 2017 values.
In the Economic Indicators section, data for GDP at PPP, GDP per capita at PPP, population, and international merchandise exports and imports as a share of GDP are from the World Bank's World Development Indicators database. The merchandise and services trade rankings are based on Statistics Canada data. The Ease of Doing Business ranking is from the World Bank's Doing Business project. The World Competitiveness ranking is from the World Economic Forum's Global Competitiveness Report.
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In addition, you can download each chart individually to multiple formats by clicking on the "Download figure" button at the top right of the chart. Before downloading bar charts and charts with plotted points, you may turn datasets on or off.
Marie Dumont
Economics, Resources and International Affairs Division
Parliamentary Information and Research Service
Publication No. 2018-638-E
28 November 2018
Canada's Merchandise Trade with Venezuela
Bilateral merchandise trade in 2017: $215.3 million
- Exports: $197.3 million, a 22.6% decrease from 2016
- Imports: $17.9 million, a 5.0% increase from 2016
Trade surplus in 2017: $179.4 million, a decrease from $237.9 million in 2016
Exports in 2017: 0.04% of the total value of Canadian exports, a decrease from 0.05% in 2016
Imports in 2017: a statistically insignificant share of the total value of Canadian imports, unchanged from 2016
Highest‑valued exporters in 2017:
- Alberta – $79.0 million, a decrease from $82.8 million in 2016
- Saskatchewan – $47.3 million, a decrease from $66.2 million in 2016
Exports in 2017:
- Resource‑based goods – 47.6%,
a decrease from 62.4% in 2016 - Manufactured goods – 52.4%,
an increase from 37.6% in 2016
Highest‑valued exports in 2017: Wheat, and air pumps, compressors, fans and ventilating hoods, together accounting for 53.4% of the total value of Canadian exports to Venezuela
- Wheat: $84.3 million, a decrease from $135.9 million in 2016
- Air pumps, compressors, fans and ventilating hoods: $21.1 million, an increase from $24,900 in 2016
Imports in 2017:
- Resource‑based goods – 7.3%, an increase from 1.4% in 2016
- Manufactured goods – 92.7%, a decrease from 98.6% in 2016
Highest‑valued imports in 2017: Methanol and aluminum wire, together accounting for 58.8% of the total value of Canadian imports from Venezuela
- Methanol: $8.7 million, an increase from $7.0 million in 2016
- Aluminum wire: $1.9 million, an increase from $52,600 in 2016
Largest merchandise trade deficit in 2017: Other manufactured goods, at $1.3 million
Largest merchandise trade surplus in 2017: Agriculture and food, at $88.2 million
Canada's Services Trade with Venezuela
Bilateral services trade in 2016: $148.0 million
- Exports: $119.0 million, a 5.3% increase from 2015
- Imports: $29.0 million, unchanged from 2015
Trade surplus in 2016: $90.0 million, an increase from $84.0 million in 2015
Services trade surplus in 2016: Largely due to travel services trade
- Travel services exports:
$53.0 million - Travel services imports:
$14.0 million
Canada's Foreign Direct Investment with Venezuela
Stock of Canadian direct investment in Venezuela in 2017: -$130.0 million, a 12.1% decrease from 2016
Venezuela as a destination for Canadian foreign direct investment among the 127 countries for which data were available for 2017: 122nd largest
Stock of Venezuelan direct investment in Canada in 2017: $3.0 million, a 25.0% decrease from 2016
Venezuela as a source of foreign direct investment in Canada among the 59 countries for which data were available for 2017: 54th largest
Data on Venezuelan direct investment in Canada are not available except for 2000, 2012, 2013 and 2015 to 2017
-0.01% of Canada's foreign direct investment stock was in Venezuela in 2017, unchanged from 2016
A statistically insignificant share of the foreign direct investment stock in Canada was of Venezuelan origin in 2017, unchanged from 2016
Data on Venezuelan direct investment in Canada are not available except for 2000, 2012, 2013 and 2015 to 2017