Please Sign in to view recently saved searches.
Venezuela is located in the northern part of the South American continent in the Western Hemisphere. It is bordered by the Caribbean Sea to the north, Guyana to the east, Brazil to the south, and Colombia to the west.
The official language of Venezuela is Spanish. A small number of people with higher education can communicate in English. Generally speaking, the popularity of English is low.
【Customs】
Venezuelans are warm, generous, and bold, and they enjoy parties. When meeting guests in social occasions, they should greet each other warmly and shake hands with the introduced guests one by one and report their own names. When relatives and friends meet, they are accustomed to hugging. When meeting ladies, they can also give cheek kisses.
Venezuelans are more casual and often arrive late for appointments. Venezuelans are relatively self-centered, pay attention to personal privacy, and have strong self-esteem. When communicating in business correspondence, pay attention to signing and archiving.
【Petroleum Industry】
Venezuela is rich in oil reserves and is one of the world's major oil exporters and a founding member of the Organization of the Petroleum Exporting Countries (OPEC for short). Venezuela nationalizes the petroleum industry. The exploration, development, production, sales, processing, and export of petroleum are all uniformly responsible by the state-owned petroleum company (PDVSA).
In August 2024, Venezuela exported an average of 885,000 barrels of oil per day, a 50% increase month-on-month and a 62% increase year-on-year. In this month, Venezuela shipped a total of 51 ships of crude oil, fuel oil, petroleum derivatives or petrochemical products, destined for Asia, Europe, the United States, Cuba, and other places. In August, Chevron Corporation of the United States exported an average of 227,000 barrels of Venezuelan oil per day, and Repsol of Spain exported an average of 86,000 barrels per day. In that month, Venezuela also exported 589,000 tons of petroleum derivatives and petrochemical products.
【Agriculture and Animal Husbandry】
Agricultural products mainly include rice, cocoa, coffee, sugar cane, corn, beans, potatoes, etc. Venezuela has a long history of growing coffee and cocoa and once occupied an important position in the national economy. Venezuelan coffee and cocoa are of good quality and pure taste and are highly regarded in the international market.
【Global Trade Agreements】
Venezuela joined the World Trade Organization in 1995.
【Regional Trade Agreements】
Venezuela is a member of the Latin American Integration Association (ALADI) and the Bolivarian Alliance for the Peoples of Our America (ALBA).
So far, Venezuela has not signed a bilateral free trade agreement with any country.
【Foreign Trade】
In 2022, Venezuela's export and import volumes of goods were 5.17 billion U.S. dollars and 10.23 billion U.S. dollars respectively, an increase of 45% and 32.4% respectively year-on-year.
In 2022, Venezuela's top five trading partners were China, the United States, Panama, Brazil, and Turkey. The top five export destinations were China, Turkey, Spain, the United States, and Brazil. The top five sources of imports were China, the United States, Brazil, Panama, and Colombia.
In 2022, Venezuela's main export commodities were mineral fuels, steel, organic chemicals, aluminum, aquatic products, fertilizers, etc. The main import commodities were electrical equipment, industrial machinery and equipment, grains, vehicles and parts, plastics, animal and vegetable oils and flour, etc.
【Blooming Trade Data】
Venezuela customs data is updated periodically with reliable data sources. Detailed transaction data includes detailed information of importers, exporter information, cargo information, freight information, and key price and volume information such as commodity trading volume, transaction amount, and transaction unit price, helping you easily grasp the latest import and export market information of Venezuela.
Are you looking to understand market demand in Venezuela? Do you want to expand your international presence there? Are you seeking stronger partnerships with clients and reliable suppliers in Venezuela?
Sample Data
Would you like to stay informed about your competitors' activities in the Venezuelan market?