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2023
Exports $4.05BWorld Rnk 29 / 150
Flag Rnk 1 / 650
falsefalse United States
2022 - 2023
FASTEST GROWING MARKETfalseUnited States
2023
PRODUCT COMPLEXITY IN Crude Petroleum-2.37Rnk 1015 / 1025
2023
Imports $31.5MWorld Rnk 0 / 0
Flag Rnk 0 / 0
2022 - 2023
FASTEST GROWING ORIGINfalsefalse
2023
ECONOMIC COMPLEXITY of Venezuela-0.82Rnk 100 / 132

About

Exports In 2023, Venezuela exported $4.05B in Crude Petroleum, making it the 29th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Venezuela. The main destination of Crude Petroleum exports from Venezuela are: United States ($3.46B) and Spain ($586M).

The fastest growing export markets for Crude Petroleum of Venezuela between 2022 and 2023 were United States ($3.46B) and Spain ($81.2M).

Imports In 2021, Venezuela imported $31.5M in Crude Petroleum, becoming the 0th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 0th most imported product in Venezuela. Venezuela imports Crude Petroleum primarily from: N/A.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$4.05B
IMPORTS (2021)$31.5M
NET TRADE (2023)$4.05B

In 2023, Venezuela exported $4.05B in Crude Petroleum. The main destinations of Venezuela exports on Crude Petroleum were United States ($3.46B) and Spain ($586M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Venezuela WERE (2022 - 2023):
United States$3.46B (1%)
Spain$81.2M (16.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Venezuela WERE (2022 - 2023):Italy-$68.2M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Venezuela's main exporting competitors in Crude Petroleum were:
Saudi Arabia $181B
United States $125B
Russia $122B
In 2023, Venezuela's main importing competitors in Crude Petroleum were:
China $319B
United States $170B
India $140B

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
N/A
N/AN/A
N/AN/A

Crude Petroleum’s highest export potential is N/A. With an export gap of N/A.   Crude Petroleum’s highest import potential is N/A with an import gap of N/A.

See methodology.

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