venezuela main exports
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venezuela main exports
Below data covers 2021 b/d (barrels per day) cu. Third quarter exports by PDVSA and its joint ventures rose to 691,100 bpd from 595,035 bpd in the prior quarter and 573,780 bpd in the first quarter. Reuters reports the port has yet to resume normal operations, noting the last vessel. Venezuela's main exports to Mexico include: oil gas aluminum and sesame seeds. in. Log in, Iron, steel: US$986 million (30% of total exports), Beverages, spirits, vinegar: $101.3 million (3.1%), Mineral fuels including oil: $81.9 million (2.5%), Meat/seafood preparations: $73.4 million (2.2%), Iron, steel: US$920.7 million (Up by 130.4% since 2020), Organic chemicals: $479.6 million (Up by 165.7%), Ores, slag, ash: $385.3 million (Up by 324.6%), Live animals: $79.7 million (Down by -1907.3%), Salt, sulphur, stone, cement: $41 million (Up by 4366.9%), Beverages, spirits, vinegar: $34.6 million (Up by 89.7%), Electrical machinery, equipment: -US$681.6 million (Up by 13% since 2020), Machinery including computers: -$531.3 million (Down by -23.1%), Animal/vegetable fats, oils, waxes: -$398.8 million (Up by 60.4%), Plastics, plastic articles: -$346.7 million (Up by 73.1%), Cereal/milk preparations: -$323.5 million (Up by 33.5%), Pharmaceuticals: -$250.5 million (Up by 31.4%), Sugar, sugar confectionery: -$222.5 million (Up by 14.4%), Mineral fuels including oil: -$212.8 million (Reversing a $2.3 billion surplus in 2020). Although forests cover more than one-third of Venezuelas land, forestry is poorly developed, mainly because the richest forestlands are so remote. Venezuela's overall petroleum exports break down to 63.2% for crude oil shipments compared to 4.2% worth for refined petroleum oils. If you want to import from or export to Venezuela, this is the best place you can rely on. Venezuela exports alot of oil. The United States has a services trade surplus of an estimated $2.2 billion with Venezuela in 2019, down 22.9% from 2018. Imports include raw materials, machinery, transportation . Venezuela exports for 2011 was $94.76B, a 15.52% decline from 2010. Venezuela has the world's largest proven oil reserves at an estimated 304 billion barrels (18% of global reserves) as of 2020. Others include: Cuba, Colombia and Brazil. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Even as oil exports increasingly dominated the economy and efforts at economic diversification waned, the government failed to adequately invest in the oil industrys maintenance and growth. Venezuela's oil exports last month fell to the lowest level since October 2020 as repairs at the country's main oil port added to delays shipping cargoes, documents from state-run PDVSA and vessel . (Source: IMF). As of September 2022, an estimated 7.1 million Venezuelans were refugees or migrants worldwide, with almost 80% taking refuge in Latin America and the Caribbean (notably Colombia, Peru, Chile, Ecuador, Argentina, and Brazil, as well as the Dominican Republic, Aruba, and Curacao). Exports accounted for 16.7% of GDP and petroleum products accounted for about 95% of those exports. That dollar amount reflects a -33.6% decline from $10.9 billion worth of imported goods in 2017 but a 5.5% increase from $6.9 billion in Venezuelan spending on imports during 2020. Other important nonferrous minerals include gold and diamonds in the Guiana Highlands, coal northwest of Lake Maracaibo, salt deposits in the Araya Peninsula, and scattered deposits of industrial-grade limestone. The free-trade agreement with the Andean Community (which Venezuela joined in 1973), economic reforms, and some efforts at privatization helped to increase manufacturing output during the 1990s. . Modern iron-ore mining in Venezuela began in the mid-20th century in the region surrounding present-day Ciudad Guayana, based on deposits at Cerro Bolvar and El Pao. U.S. direct investment in Venezuela is led by nonbank holding companies, manufacturing, and professional, scientific, and technical services. Among the factors contributing to the industrial base are an abundant supply of fossil fuels and hydroelectric power, a variety of raw materials, considerable available capital; and a relatively high purchasing power per capita. HSN Code 470500 : 470500. Historically, Venezuelans have not eaten great amounts of fish, and they have only partly exploited inland and ocean fishing grounds. Area (km2): 912,050. Industrial growth slowed, however, when oil prices declined several years later. At the HS6 digit level, 3,622 products were exported to 178 countries and 4,338 products were imported from 177 countries. Shipments of oil account for 96 percent of total exports. Exports in Venezuela increased to 8627 USD Million (8.627 B USD) in the first quarter of 2019. The most important generating centre is the Guri Dam on the Caron River, which supplies Ciudad Guayana and its nearby mining complexes. In 2014, this country exported $63 billion worth of goods, making Venezuela the 51st largest export economy in the world. The economy of Venezuela it's exports and custom graphs are provided. This represented over 90 percent of the South American. The industry is also an important employer and employs about 6.5% of the country's available labor force. The country's top exports would include crude petroleum (around $130 billion), refined petroleum (at $10 billion), acyclic . Venezuela's dependence on a single export product, oil (90 percent of export earnings), and its close ties to the United States make the economy particularly sensitive to price fluctuations in the world market and cyclical fluctuations in the US economy. Capital: Caracas. About 40 languages are spoken in Venezuela. Given Venezuela's population of 27.6 million people, the estimated $3.3 billion in 2021 Venezuelan exports translates to about $120 per person. The development of rich deposits of iron ore, nickel, coal, and bauxite (the ore of aluminum), as well as hydroelectric power, further expanded the economy. Venezuela is currently our 70th largest goods trading partner with $3.2 billion in total (two way) goods trade during 2019. U.S. total exports of agricultural products to Venezuela totaled $174 million in 2019. From the late 1940s to 1970 the country was the world's largest petroleum exporter, and it was long one of the principal exporters of oil to the United States. From the more granular four-digit Harmonized Tariff System code level crude oil represents Venezuela's most valuable exported product at 63.2% of the country's total. More than nine-tenths of Venezuelans have access to electricity in their homes, making the country one of the better-provisioned in this regard in Latin America. The total value of imports (CIF) was 69,591 million. Venezuelas main cash crop is coffee, and its staple food crops are corn (maize) and rice. Other exports are bauxite, aluminum, steel, chemicals, iron ore, coffee, cocoa, rice, and cotton. Foreign Safeguard Activity Involving U.S. Exports, Venezuela-Using an Agent to Sell U.S. Products and Services, Venezuela - Distribution & Sales Channels, Venezuela - Selling Factors and Techniques, Venezuela - Trade Promotion and Advertising, Venezuela - Sales Service/Customer Support, Venezuela- Protecting Intellectual Property, Venezuela - Principle Business Associations, Venezuela - Limitations on Selling US Products and Services, Venezuela - Auto Parts and Service Equipment, Venezuela - Electrical Power Generation Systems and Electrical Equipment, Venezuela - Import Requirements and Documentation, Venezuela - Labeling/Marking Requirements, Venezuela - Prohibited & Restricted Imports, Venezuela- Licensing Requirements for Professional Services, Venezuela - U.S. Banks and Local Correspondent Banks, list that consolidates eleven export screening lists. Venezuela became a member of Mercosur in July, 2012. Venezuela was the worlds fourth largest producer of tuna during the early 1990s. The top export categories (2-digit HS) in 2019 were: mineral fuels ($337 million), machinery ($187 million), electrical machinery ($185 million), vehicles ($84 million), and cereals (wheat) ($54 million). The top export opportunities for Venezuela according to the relatedness index, are Petroleum Gas (0.095), Gold (0.091), Palm Oil (0.078), Fish Fillets (0.077), and Insect Resins (0.077). In the 1970s a government-sponsored enterprise attempted to develop the fishing industry and to increase the demand for fish, especially among lower-income groups, and there was a minor fishing boom in the 1980s. The United States does not authorize the export of defense articles and defense services to Venezuela (see Federal Register, Vol. Crude Petroleum. That is, most products are imported from these countries to Venezuela. U.S. goods and services trade with Venezuela totaled an estimated $5.7 billion in 2019. At the same time, it continued to expand social programs and borrowed heavily. The value for Exports of goods and services (annual % growth) in Venezuela was -4.66 as of 2014. Having fired thousands of experienced PDVSA administrators and technicians who had participated in a strike in 200203, the Chvez government replaced them principally with inexperienced political appointees, who contributed to the egregious mismanagement of the oil industry that, along with tumbling world oil prices, brought the Venezuelan economy to its knees in the 2010s. In addition, a PDVSA subsidiary, Carbozulia, has developed major coal reserves in the Guasar River basin. The second type of holding is the conuco (family farm), which is typically leased by the farmer; it is usually small in size and includes a mixture of food crops such as corn and beans for local consumption and commercial crops such as coffee and cacao. Agricultural landholdings in Venezuela include expansive latifundios and small, subsistence-based minifundios. HSN Code 84669390 : HS : for machines of headings 8456 to 8461: other. By 2017, Venezuela was in a period of negative growth that had lasted for several years, with the economy contracting by -14%. The first and most important consists of oil storage, transportation, and refinery operations as well as associated petrochemical plants. In the mid-1970s large deposits of bauxite were discovered in the Guiana Highlands, much of it high-grade ore suitable for alumina smelting in the Ciudad Guayana complex. The oldest and most developed petrochemical region is in the northwest. The port lies in the state of Anzoategui, on the southeastern shores of Bahia de Pozuelos and incorporates the Guaraguao, El Chaure and the Los Cocos oil terminals. According to the latest data, Venezuela's crude oil production now stands at its lowest level in more than 50 years. The unprecedented fall in volume of imports and exports in 2020 and 2021 was mainly due to lower global demand which resulted from the COVID-19 pandemic. Venezuela has an economy based almost exclusively on oil exploration and refining for both domestic consumption and exports, which accounts for 90% of the country's total exports. The main reason for the long-term decline in Venezuela production is epic mis-management and low levels of investment. The top import categories (2-digit HS) in 2019 were: mineral fuels ($1.6 billion), fish and seafood (fresh fish, not fillet) ($70 million), prepared meat and fish (crustaceans and molluscs) ($40 million), organic chemicals ($38 million), and precious metal and stone (gold) ($34 million). Venezuela exports for 2014 was $80.52B, a 12.36% decline from 2013. Venezuela's largest oil-exporting terminal Jose is not working after a power outage that happened on Monday. Huge oil revenues, combined with low tariffs, permitted an array of items to be imported. First are fincas comercializados (commercial crop farms), which usually cover more than 50 acres (20 hectares), employ wage labourers, have some farm machinery, and use fertilizers and pesticides. Deep shortages of food and medicine resulted, leading to a humanitarian crisis in Venezuela that grew more desperate when the coronavirus SARS-CoV-2 global pandemic reached the country in 2020. Puerto La Cruz. What types of things do they export in Venezuela? The country also has natural resources of natural gas, gold, and other minerals. What is Venezuela's most common export? U.S. goods exports to Venezuela in 2019 were $1.3 billion, down 78.8% ($4.8 billion) from 2018 and down 86.2% from 2009. These are commonly found in the Llanos, where unenclosed land is used for grazing cattle on the low-quality grasses. Export API Embed Venezuela Imports Venezuela main imports are: electronics (32 percent of total imports), chemical products (18 percent), agricultural products and livestock (11 percent), base metals (8 percent) and food, beverages and tobacco (6 percent). Venezuela's most economically significant natural resources are petroleum and natural gas, which traditionally account for about nine-tenths of exports. Explore Visualizations Market Growth Flow The Caribbean nation has seen a 75% drop in its GDP since 2014, when the capitalist rentier model of accumulation entered into a severe crisis. 71, No.159, 2006). U.S. goods imports from Venezuela totaled $1.9 billion in 2019, down 85.4% ($11.3 billion) from 2018, and down 93.1% from 2009. Venezuela. A refining centre at the western end of the Paraguan Peninsula on the Gulf of Venezuela handles more than two-thirds of domestic oil refining. Venezuela's Top 10 Imports by Daniel Workman Venezuelan sunset Products imported into the Bolivarian Republic of Venezuela cost an estimated US$7.2 billion in 2021. Population: 23,916,810. The Venezuelan territory is settled, almost literally, on a great deposit of oil of excellent . The country also exports steel, aluminum, and cement. Relatedness measures the distance between a country's current exportsand each product. Anchovies have become another major catch. Venezuela holds 299,953,000,000 barrels of proven oil reserves as of 2016, ranking 1st in the world and accounting for about 18.2% of the world's total oil reserves of 1,650,585,140,000 barrels. What is the main export of Venezuela? Venezuela was the United States' 65th largest supplier of goods imports in 2019. U.S. exports of services to Venezuela were an estimated $2.3 billion in 2019, 23.6% ($724 million) less than 2018, but 55.6% less than 2009 levels. Current job openings: 2022 Data - 2023 Forecast - 1992-2021 Historical - Chart - News, Venezuela Gasoline Prices at 0.02 USD/Liter, Venezuela CPI Transportation at 6389439306.59 thousand points, 90 day Deposit Rate in Venezuela at 36.00 percent, Venezuela Private Sector Credit at 68146.32 VES Thousand, Venezuela Central Bank Balance Sheet at 351558556.25 VES Thousand, Venezuela Foreign Exchange Reserves at 9992.00 USD Million, Venezuela Consumer Price Index (CPI) at 5654207.05 million points, Venezuela Inflation Rate at 155.80 percent, Costa Rica Inflation Rate Softens to 5-Month Low, European Stocks Rise to Near 2-Month High. The 2020 oil price collapse limited domestic oil storage, and US sanctions have exacerbated the decline of Venezuela's oil industry in the past 6 months. Hydroelectricity is the source of about half the countrys electric power. From the more granular four-digit Harmonized Tariff System code level crude oil represents Venezuela's most valuable exported product at 63.2% of the country's total. 4. There are also economically important quantities of nickel, phosphates, copper, zinc, lead, titanium, and manganese, and surveys indicate the existence of substantial deposits of uranium and thorium. Venezuela trade balance, exports and imports by country 2013 In 2013, Venezuela major trading partner countries for exports were Unspecified, Other Asia, nes, United States, China and Colombia and for imports they were United States, China, Brazil, Colombia and Mexico . What is Venezuela's main export? The United States does not authorize the export of defense articles and defense services to Venezuela (see Federal Register, Vol. Venezuela exports for 2013 was $91.88B, a 7.92% decline from 2012. The maximum level was 31468 USD Million and minimum was 2995 USD Million. As a result, export-oriented enterprises expanded. The consumer-goods and metalworking industries were established with the help of protective tariffs and import quotas. Gulf Coast Refineries had a deal to refine the heavy sour crude that Venezuela produces and send back Gasoline and Diesel in exchange. Venezuela's deteriorating oil quality riles major refiners," October 18, 2017. There is no information on the distribution of Venezuela FDI in the U.S. In 2021, Asia was the main region of destination for Venezuelan crude oil exports, with an average of 418 thousand barrels per day. Spanish. According to the Department of Commerce, U.S. exports of Goods and Services to Venezuela supported an estimated 82 thousand jobs in 2015 (latest data available) (39 thousand supported by goods exports and 44 thousand supported by services exports). Since the 1990s the government has supported the agricultural sector with subsidies and low-interest loans, but the overall contribution of agriculture, fishing, and forestry to the GDP has further decreased. Importing from Venezuela. Most farms can be organized broadly into three basic types. Exports to Cuba fell to 36,000 bpd in September from 81,200 bpd the previous month. However, the operational logjam was alleviated with the opening of a new terminal operated by privately owned Maroil Trading. Top 3 Product Categories of Wood Exports from Venezuela are. Pres. HSN Code 441111 : HS : not mechanically worked or surface covered : Major Exports petroleum, bauxite and aluminum, steel, chemicals, agricultural products, basic manufactures Top Export Partners US 45.1%, Netherlands Antilles 12.8%, Dominican Republic 2.8% . The U.S. goods trade deficit with Venezuela was $644 million in 2019, a 90.9% decrease ($6.5 billion) over 2018. 71, No.159, 2006). The petroleum industry is the most dominant player in Venezuela's economy and it delivers around 40% of the government's income as well as over 90% of export earnings. 1908-35 - Under dictator Juan Vicente Gomez, Venezuela becomes world's largest oil exporter. How much does Chile export and import? 1080p stretched resolution; how do you seal stuffed chicken? The other main recipients of Cuba's exports are Venezuela, the Netherlands, Canada, Spain and Brazil. Sales of services in Venezuela by majority U.S.-owned affiliates were $2.1 billion in 2017 (latest data available), while sales of services in the United States by majority Venezuela-owned firms were $491 million. Exports Venezuela exported an average of 772, 000 b/d of crude oil (including lease condensates) in 2019, or about 40% lower than the 2018 level. 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