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Pricing

2022
Flag → Flag
Exports $2.21BRnk 66 / 219
2022
Flag → Flag
Top Product $305MSoybean Meal
2022
Flag → Flag
Exports $438MRnk 4 / 126
2022
Flag → Flag
Top Product $84.1MProcessed Crustaceans
2022
Flag
Economic Complexity (ECI) ECI 1.47Rnk 10 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
Flag
GDP GROWTH56.7%CURRENT US$
Rnk 45 / 186
2022
Flag
GDP PC $76,399CURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP PC GROWTH47.5%CURRENT US$
Rnk 39 / 186

About

United States-Venezuela Trade: In 2022, United States exported $2.21B to Venezuela. The main products that United States exported to Venezuela were Soybean Meal ($305M), Broadcasting Equipment ($166M), and Telephones ($151M). Over the past 5 years the exports of United States to Venezuela have decreased at an annualized rate of 11%, from $3.97B in 2017 to $2.21B in 2022.

In 2017, United States exported services to Venezuela worth $3.29B, with Travel ($1.79B), Financial services ($431M), and Transportation ($349M) being the largest in terms of value.

Venezuela-United States Trade: In 2022, Venezuela exported $438M to United States. The main products that Venezuela exported to United States were Processed Crustaceans ($84.1M), Acyclic Alcohols ($83.5M), and Insulated Wire ($70.1M). Over the past 5 years the exports of Venezuela to United States have decreased at an annualized rate of 49%,  from $12.7B in 2017 to $438M in 2022.

In 2022, Venezuela did not export any services to United States.

Comparison: In 2022,  United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Company data: In 2023, leading companies such as CMPC (1.45k), Gallo Family Vineyards (544), and Woodstream (57) were at the forefront of exporting goods from Venezuela to the United States. Conversely, Cmpc Maderas Spa (737), Nosio Spa (544), and Unknown (533) were notable for importing products to Venezuela from the United States.

Latest Trends

August, 2024

About

Overview In August 2024, United States exported $371M and imported $607M from Venezuela, resulting in a negative trade balance of $235M. Between August 2023 and August 2024 the exports of United States have increased by $165M (80.3%) from $206M to $371M, while imports increased by $258M (74%) from $349M to $607M.

Trade In August 2024, the top exports of United States to Venezuela were Soybean Meal ($51.6M), Refined Petroleum ($42.8M), Telephones ($37.5M), Computers ($31.9M), and Soybeans ($8.83M). In August 2024 the top imports of United States from Venezuela were Crude Petroleum ($82.5M), Insulated Wire ($7.87M), Acyclic Alcohols ($5.58M), Processed Crustaceans ($2.57M), and Precious Metal Scraps ($2.34M).

Origins In August 2024 the exports of United States were mainly from Texas ($186M), Florida ($92.2M), Louisiana ($37.8M), Iowa ($10.4M), and Connecticut ($8.41M), while imports destinations were mainly Texas ($227M), Louisiana ($172M), Mississippi ($163M), New Jersey ($25.3M), and Florida ($16M).

Growth In August 2024, the increase in United States's year-by-year exports to Venezuela was explained primarily by an increase in product exports in Refined Petroleum ($38.6M or 917%), Soybean Meal ($36.6M or 244%), and Computers ($27.8M or 678%). In August 2024, the increase in United States's year-by-year imports  from Venezuela was explained primarily by an increase in product imports  in Insulated Wire ($3.89M or 97.5%), Precious Metal Scraps ($1.74M or 293%), and Crustaceans ($1.01M or 84%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$165M(80.3%)
IMPORT GROWTH (August 2023 - August 2024)$258M(74%)
MAIN EXPORTER (August 2024)Texas$186M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Venezuela and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $2.21B to Venezuela. The main products exported from United States to Venezuela were Soybean Meal ($305M), Broadcasting Equipment ($166M), and Telephones ($151M). During the last 5 years the exports of United States to Venezuela have decreased at an annualized rate of 11%, from $3.97B in 2017 to $2.21B in 2022.

In 2017, Venezuela exported $438M to United States. The main products exported from Venezuela to United States were Processed Crustaceans ($84.1M), Acyclic Alcohols ($83.5M), and Insulated Wire ($70.1M). During the last 5 years the exports of Venezuela to United States have decreased at an annualized rate of 49%, from $12.7B in 2022 to $438M in 2017.

Exports from United States (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to United States (Flag) (2022)

Market Competitiveness

Color
United States
Top DestinationCanada$308B
Venezuela
Top DestinationChina$703M

This map shows whether countries import more from United States or Venezuela. Each country is colored based on the difference in imports they receive from United States and Venezuela or the difference in the growth in imports.

In 2022, countries that imported more from United States than Venezuela included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Venezuela than United States included Montenegro ($75.9M).

Difference in imports from Venezuela (Flag) and United States (Flag) (2022)

Comparative Advantage United States - Venezuela

Flow
Scale

This chart compares trade between United States and Venezuela by product, considering products traded by both, United States and Venezuela.

During 2022, United States had a large net trade with Venezuela in the exports of Machines ($706M), Foodstuffs ($417M), and Vegetable Products ($277M).

During 2017, Venezuela had a large net trade with United States in the exports of Foodstuffs ($122M), Chemical Products ($92.1M), and Machines ($71.7M).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of United States and Venezuela. This means that a dot/product with the flag of United States indicates it has a comparative advantage over Venezuela. Similarly, a dot/product with the flag of Venezuela indicates it has a comparative advantage over United States.

Product Space of United States (Flag) and Venezuela (Flag) (2022)

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