Trade Trend

In 2023, Venezuela's total export value is 471.52Million USD, total import value is 7.19Billion USD, Deficit is -6.72Billion USD. In 2023，Venezuela's top export products are Acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives(104.83Million USD), Crustaceans; in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked, cooked or not before or during smoking; in shell, steamed or boiled, whether or not chilled, frozen, dried, salted or in brine(75.38Million USD), Fertilizers; mineral or chemical, nitrogenous(60.01Million USD), top export destinations are Brazil(106.98Million USD), China(65.74Million USD), United States(50.73Million USD). In 2023, Venezuela's top import products are Oilcake and other solid residues; whether or not ground or in the form of pellets, resulting from the extraction of soyabean oil(293.28Million USD), Wheat and meslin(279.95Million USD), Maize (corn)(229.62Million USD), top import origins are China(2.21Billion USD), United States(1.16Billion USD), Brazil(814.38Million USD).

Comparing to 2022, Venezuela's total export value decreased -38.64Million USD(-7.57%) in 2023, this could result from its export decreases of products such as Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or the like; iron having a minimum purity of 99.94%, in lumps, pellets or similar forms(-75.68Million USD or -85.49%), Aluminium; unwrought(-22.51Million USD or -48.79%), Iron or nonalloy steel; semifinished products thereof(-6.48Million USD or -32.31%) and export decreases to countries/economics such as Turkey(-44.17Million USD or -69.17%), None(-27.40Million USD or -96.63%), United States(-26.12Million USD or -33.99%). Comparing to 2022, Venezuela's total import value decreased -294.04Million USD(-3.93%) in 2023, this could result from its import decreases of products such as Soyabean oil and its fractions; whether or not refined, but not chemically modified(-178.52Million USD or -48.26%), None(-152.09Million USD or -65.28%), None(-148.39Million USD or -60.09%), and its import decreases from countries/economies such as Brazil(-254.60Million USD or -23.82%), United States(-144.90Million USD or -11.08%), Mexico(-120.06Million USD or -36.64%).

Cumulated to first 7 months of 2024, Venezuela's total export value is 2.36Billion USD, total import value is 4.10Billion USD, and tradedeficit is -1.75Billion USD. Cumulated to first 7 months of 2024, Venezuela's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(1.65Billion USD), Acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives(120.31Million USD), 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(110.16Million USD), and top export destinations are United States(1.13Billion USD), China(403.67Million USD), India(384.35Million USD). Cumulated to first 7 months of 2024, Venezuela's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(1.65Billion USD), Acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives(120.31Million USD), 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(110.16Million USD), and top import origins areChina(1.55Billion USD), United States(986.12Million USD), Brazil(403.89Million USD).