Türkiye and Venezuela
Türkiye and Venezuela maintain presidential contacts, economic cooperation and resident representation. Joint commissions and business forums organise part of bilateral dialogue.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08History and institutional framework
Diplomatic relations began in 1950, and the Turkish embassy in Caracas has operated since 1957.
What merchandise trade shows
In 2025, goods trade between Türkiye and Venezuela totalled 448.2 million current USD.
Documented trade sectors
Within the selected chapters, machinery and mechanical appliances stands out in shipments from Türkiye to Venezuela, at 12.1 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 448.22 M USD | 2025 · UN Comtrade / TUR |
| Goods: Türkiye to Venezuela | 197.11 M USD | 2025 · UN Comtrade / TUR |
| Goods: Venezuela to Türkiye | 251.11 M USD | 2025 · UN Comtrade / TUR |
| Services trade | ||
| Export share: Türkiye to Venezuela | 0.0721 % | 2025 · UN Comtrade / TUR |
| Export share: Venezuela to Türkiye | ||
| Investment stock: Türkiye in Venezuela | ||
| Investment stock: Venezuela in Türkiye |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / TUR · Goods; full year; reporter TUR. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: Türkiye to Venezuela
- 2025 · UN Comtrade / TUR · Goods; full year; reporter TUR. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Goods: Venezuela to Türkiye
- 2025 · UN Comtrade / TUR · Goods; full year; reporter TUR. Exports normally FOB and imports CIF according to the reporter's coverage. Mirror reports are not added together.
- Export share: Türkiye to Venezuela
- 2025 · UN Comtrade / TUR · Goods share: TUR exports to the partner / exports by the same reporter to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Türkiye | Venezuela |
|---|---|---|
| Nominal GDP | 1.6 trillion USD2025 · WB | 99.66 billion USD2025 · WB |
| GDP per capita | 18,599.44 USD2025 · WB | 3,494.81 USD2025 · WB |
| GDP growth | 3.6 %2025 · WB | 1.57 %2025 · WB |
| Policy interest rate | 37 %2026-09-10 · TCMB | |
| Inflation · annual average | 34.88 %Annual average · 2025 · WB | |
| Inflation · latest year-on-year figure | 29.73 %Headline CPI · 2026-09 · year-on-year · TCMB / TURKSTAT | |
| Unemployment | 8.52 %ILO est.2025 · WB | 5.31 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.8 %IMF est.2025 · IMF | -5.8 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 23.5 %IMF est.2025 · IMF | 308.7 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -0.77 %2024 · WB | |
| Population | 85,878,5562025 · WB | 28,516,8962025 · WB |
| Area | 785,350 km²2023 · WB | 912,050 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDTürkiye: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.Venezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personTürkiye: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.Venezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Türkiye: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.Venezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)Türkiye: 2026-09-10 · One-week repo auction rate · TCMB · Official central-bank decision; not a commercial lending rate or a bill yield.
- Inflation · annual average
- Average annual change in headline CPI (%)Türkiye: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedTürkiye: 2026-09 · National headline CPI, change from the same month of the previous year · TCMB / TURKSTAT · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionTürkiye: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.Venezuela: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Türkiye: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.Venezuela: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Türkiye: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.Venezuela: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPTürkiye: 2024 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeopleTürkiye: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.Venezuela: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceTürkiye: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.Venezuela: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Türkiye to Venezuela
| Product or sector | Value / share |
|---|---|
| Machinery and mechanical appliances | 12.1 M USD2025 · Source |
| Mineral fuels and oils | 11.4 M USD2025 · Source |
| Electrical and electronic equipment | 4.6 M USD2025 · Source |
| Vehicles and components | 1.2 M USD2025 · Source |
| Pharmaceutical products | 0.855 M USD2025 · Source |
| Meat and edible offal | 0.49 M USD2025 · Source |
| Dairy products, eggs and honey | 0.166 M USD2025 · Source |
Venezuela to Türkiye
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | Türkiye to Venezuela | Venezuela to Türkiye |
|---|---|---|---|
| 2021 | 850.5 | 299.3 | 551.2 |
| 2022 | 1,083.9 | 366.4 | 717.5 |
| 2023 | 732.9 | 365.8 | 367.1 |
| 2024 | 664.6 | 306.9 | 357.7 |
| 2025 | 448.2 | 197.1 | 251.1 |
Connections between people
Contacts between people and relations between governments are distinct dimensions. Published counts appear in the table with their date and definition; a resident community is not inferred from trade or diplomatic representation. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Türkiye living in Venezuela | ||
| Residents from Venezuela living in Türkiye | ||
| Study and training: Türkiye in Venezuela | ||
| Study and training: Venezuela in Türkiye | ||
| Academic stays: Türkiye in Venezuela | ||
| Academic stays: Venezuela in Türkiye | ||
| Travel: Türkiye to Venezuela | ||
| Travel: Venezuela to Türkiye |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
Diplomatic relations began in 1950, and the Turkish embassy in Caracas has operated since 1957. The joint commission held meetings linked to visits in 2017, 2022 and 2024. [1]
The scale of both economies
Nominal GDP for Türkiye is 1,597.3 billion USD (2025), compared with 99.7 for Venezuela (2025). The reference populations are 85.88 and 28.52 million, respectively. In the same year, the economy of Türkiye was 16.03 times that of Venezuela in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6] [7] [8]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
Erdoğan and Nicolás Maduro met on the sidelines of the BRICS summit in Kazan on 23 October 2024; a meeting at that summit does not imply both countries share the same membership status. Business forums and trade exhibitions are concrete contacts, not measures of investment implemented. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Türkiye and Venezuela) totalled 448.2 million current USD. Shipments from the first to the second were 197.1 million; those in the opposite direction, 251.1 million. The difference between the two flows was 54 million, in favour of Venezuela. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Türkiye to the partner represented 0.0721% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 850.5 million USD in 2021 and 448.2 million in 2025. The change between the two endpoints was -47.3 % in current dollars. The highest annual value in the period was recorded in 2022, at 1,083.9 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, machinery and mechanical appliances stands out in shipments from Türkiye to Venezuela, at 12.1 million USD in 2025. Within the selected chapters, mineral fuels and oils stands out in shipments from Venezuela to Türkiye, at 16.4 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Milestones and consequences
- 2024-10-23
Meeting in Kazan
The presidents met on the sidelines of the BRICS summit. [1]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — TUR-VEN
Ministry of Foreign Affairs of Türkiye · Institutional source · Accessed: 2026-10-08
- Annual TOTAL X/M; 2025; reporter 792; partners 0,24,44,48,52,112,56,84,204,72,96,120,208,212,214,222,232,246,266,308,320,624,348,380,400,398,404,296,418,428,422,426,430,440,450,454,458,466,478,480,484,498,496,499,504,508,104,516,524,558,562,566,807,579,586,275,591,600,604,608,616,178,646,882,686,688,694,702,703,706,410,728,729,752,756,762,834,764,768,788,795,798,858,860,548,862,704,887,894,716,705
UN Comtrade / TUR · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade / TUR · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade; reporters TUR, TZA · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade; reporters TUR, TZA
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.