Top Export Trading Partners of Venezuela - Volza

Venezuela's primary export trading partners in 2023 are United States (15% of exports, $1.5 billion), China (14%, $1.4 billion), India (12%, $1.2 billion), Spain (10%, $1 billion), and Turkey (8%, $800 million).

Key exports to these countries include oil, minerals, chemicals, and agricultural products. Trade agreements, such as bilateral agreements with China and regional agreements within the Latin American Integration Association (LAIA), facilitate smoother trade flows.

Economically, Venezuela's GDP growth rate is estimated at -3.3%, with an inflation rate of 400%, significantly impacting its export dynamics. Strategic incentives and government support aim to bolster trade relationships, making Venezuela a crucial export market for these partners. The country's focus on oil and its extensive mineral resources significantly influence its export dynamics, ensuring a steady supply chain to its trading partners despite economic challenges.