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Pricing

2023
Flag → Flag
Exports $2.43BRnk 62 / 220
2023
Flag → Flag
Top Product $478MRefined Petroleum
2023
Flag → Flag
Exports $3.81BRnk 1 / 122
2023
Flag → Flag
Top Product $3.46BCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 195
2023
Flag
GDP PC $82,769CURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195

About

United States-Venezuela Trade: In 2023, United States exported $2.43B to Venezuela. The main products that United States exported to Venezuela were Refined Petroleum ($478M), Soybean Meal ($321M), and Broadcasting Equipment ($166M). Over the past 5 years the exports of United States to Venezuela have decreased at an annualized rate of 16.5%, from $5.97B in 2018 to $2.43B in 2023.

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 2023, Venezuela exported $3.81B to United States. The main products that Venezuela exported to United States were Crude Petroleum ($3.46B), Processed Crustaceans ($60.5M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($57.6M). Over the past 5 years the exports of Venezuela to United States have decreased at an annualized rate of 22.3%,  from $13.5B in 2018 to $3.81B in 2023.

In 2023, Venezuela did not export any services to United States.

Comparison: In 2023,  United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

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

November, 2024

About

Overview In November 2024, United States exported $418M and imported $468M from Venezuela, resulting in a negative trade balance of $49.7M. Between November 2023 and November 2024 the exports of United States have increased by $168M (66.8%) from $251M to $418M, while imports increased by $80.9M (20.9%) from $387M to $468M.

Trade In November 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 November 2024 the top imports of United States from Venezuela were Crude Petroleum ($82.5M), Insulated Wire ($7.87M), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($5.58M), Processed Crustaceans ($2.57M), and Precious Metal Scraps ($2.34M).

Origins In November 2024 the exports of United States were mainly from Texas ($255M), Florida ($97.5M), Louisiana ($23.8M), Arkansas ($8.43M), and Georgia ($3.48M), while imports destinations were mainly Louisiana ($200M), Texas ($137M), Mississippi ($74.9M), Delaware ($31.4M), and Florida ($15.2M).

Growth In November 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 November 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 (November 2023 - November 2024)$168M(66.8%)
IMPORT GROWTH (November 2023 - November 2024)$80.9M(20.9%)
MAIN EXPORTER (November 2024)Texas$255M

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.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United States exported $2.43B to Venezuela. The main products exported from United States to Venezuela were Refined Petroleum ($478M), Soybean Meal ($321M), and Broadcasting Equipment ($166M). During the last 5 years the exports of United States to Venezuela have decreased at an annualized rate of 16.5%, from $5.97B in 2018 to $2.43B in 2023.

In 2018, Venezuela exported $3.81B to United States. The main products exported from Venezuela to United States were Crude Petroleum ($3.46B), Processed Crustaceans ($60.5M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($57.6M). During the last 5 years the exports of Venezuela to United States have decreased at an annualized rate of 22.3%, from $13.5B in 2023 to $3.81B in 2018.

Exports from United States (Flag) to Venezuela (Flag) (2023)

Exports from Venezuela (Flag) to United States (Flag) (2023)

Market Competitiveness

Color
United States
Top DestinationCanada$269B
Venezuela
Top DestinationUnited States$3.81B

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 2023, countries that imported more from United States than Venezuela included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, no countries were registered that imported more from Venezuela than from United States.

Difference in imports from Venezuela (Flag) and United States (Flag) (2023)

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 2023, United States had a large net trade with Venezuela in the exports of Machines ($767M), Mineral Products ($481M), and Foodstuffs ($405M).

During 2018, Venezuela had a large net trade with United States in the exports of Mineral Products ($3.47B), Foodstuffs ($83.7M), and Chemical Products ($62.5M).

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) (2023)

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