Venezuela is a country that is highly dependent on their foreign trade. In fact, their foreign trade figures make up roughly 67% of their GDP. In this blog, we’ll provide some insight into Venezuela export statistics and tell you where you can find more trade information on Venezuela and other countries. If you need Venezuela export statistics data, visit this website.

Venezuela’s Top Exports

To give you a better idea of Venezuela's general foreign trade figures, let’s take a look at the Venzuela export statistics in recent years. Petroleum makes up more than 85% of Venezuela's exports. While petroleum is a valuable resource, the fact that a large percentage of Venezuela's GDP is derived from exports means that their economy is highly dependent on the fluctuating price of petroleum.

Since Venezuela’s economy is so tied to petroleum prices, they can experience economic pitfalls easily when the price of petroleum drops. The COVID-19 pandemic in particular caused a detrimental drop in Venezuela's import and export statistics. In 2020, their exports dropped by over 50%, causing economic strife for the country.

Venezuela counts the United States, China, India, Mexico, Turkey, and Brazil as their primary trade partners, with the United States being their primary buyer of petroleum. Currently, Venezuela faces economic hardships that include hyperinflation, a weakened national currency, high rates of food insecurity, steadily increasing unemployment rates, weakened purchasing power, and more.

These issues combined with Venezuela’s dependence on petroleum prices makes it difficult for them to put themselves in a more stable economic position.

Finding more Information on Venezuela Export Statistics

Getting a clearer picture of Venezuela export statistics is easy when you have the right platform. With a searchable database, you can learn more in-depth data about the Venezuelan imports and export economy and better understand their foreign trade numbers. With a searchable database, you’ll find data about arrival dates, bills of lading, FOBs, CIFs, consignees, countries of origin, and more. With this kind of data, you can more easily find potential new suppliers and potential new customers in the global trade network. You can also understand and learn about the supply chains of your competitors. Searchable trade databases will give you access into the foreign trade of major countries like never before.

Read a similar blog about import export data tool here at this page.