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Venezuela

Venezuela ranked No. 65 in total trade value through July with a total of $2.67 billion. Exports totaled $846.36 million and Imports totaled $1.82 billion, a deficit of $978.39 million.

January – July 2019

Top Trading Ports

Total Trade: $2.67 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $494,125,303
2Port of Lake Charles, La. $448,237,609
3Port of Houston $326,059,365
4Port Everglades, Fla. $276,167,887
5Port of New Orleans $203,104,099
6Port of Port Arthur, Texas $158,043,461
7Miami International Airport $139,446,231
8Port of Newark $134,863,836
9Port of Corpus Christi, Texas $121,957,265
10Port of New York $45,937,005

U.S. trade with Venezuela rose to $2.67 billion through July

Venezuela’s trade with the United States rose to $2.67 billion through the first seven months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 74.3 percent below its total trade during the same time period last year. U.S. exports to Venezuela decreased 74.23 percent while U.S. imports from Venezuela fell 74.34 percent. The U.S. deficit with Venezuela was $978.39 million.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Pascagoula, Miss.; No. 2 Port of Lake Charles, La.; No. 3 Port of Houston; No. 4 Port Everglades, Fla.; and No. 5 Port of New Orleans. During the same period the previous year, the top five were No. 1 Port of Houston No. 2 Port of New Orleans No. 3 Port of Lake Charles, La. No. 4 Port of Corpus Christi, Texas and No. 5 Port of Port Arthur, Texas. In the current time period, the top five accounted for 65.43 percent of Venezuela’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. fell 14.73 percent to $494.13 million.
    Exports fell 57.76 percent to $517,193. Imports fell 14.64 percent to $493.61 million.
  • Trade with No. 2 Port of Lake Charles, La. fell 70.16 percent to $448.24 million.
    Exports fell 55.44 percent to $80.02 million. Imports fell 72.15 percent to $368.22 million.
  • Trade with No. 3 Port of Houston fell 80.34 percent to $326.06 million.
    Exports fell 77.73 percent to $270.03 million. Imports fell 87.43 percent to $56.03 million.
  • Trade with No. 4 Port Everglades, Fla. fell 19.95 percent to $276.17 million.
    Exports rose 7.4 percent to $231.83 million. Imports fell 65.67 percent to $44.34 million.
  • Trade with No. 5 Port of New Orleans fell 87.14 percent to $203.1 million.
    Exports fell 81.46 percent to $25.9 million. Imports fell 87.69 percent to $177.2 million.

Venezuela ranked No. 65 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 33.

Meanwhile, total U.S. trade with the world increased to $2.41 trillion, down 0.06 percent compared to the same period last year. The nation’s exports dropped 0.71 percent to $956.44 billion; imports climbed 0.38 percent to $1.45 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $498.31 billion, up compared to the same period of last year when the deficit was $485.95 billion.

The top five U.S. exports to Venezuela by value through July were the categories of Gasoline, other fuels; Cell phones, related equipment; Soybean oilcake, other solid residue, not ground; Motor vehicles for transporting people; and Electric ignition equipment, respectively. They accounted for 46.21 percent of total exports to Venezuela.

The value of the top five categories of U.S. imports from Venezuela –– Oil; Gasoline, other fuels; Acyclic alcohols; Prepared, preserved shrimp, lobster, etc.; and Insulated wire, cable –– accounted for 93.86 percent of all inbound shipments.

Looking more closely at U.S. exports to Venezuela:

  • Gasoline, other fuels fell 86.35 percent compared to last year to $292.38 million.
  • Cell phones, related equipment rose 102.94 percent compared to last year to $39.05 million.
  • Soybean oilcake, other solid residue, not ground fell 60.78 percent compared to last year to $23.46 million.
  • Motor vehicles for transporting people fell 0.51 percent compared to last year to $18.25 million.
  • Electric ignition equipment rose 294 percent compared to last year to $18.01 million.

Looking more closely at U.S. imports from Venezuela:

  • Oil fell 75.25 percent compared to last year to $1.36 billion.
  • Gasoline, other fuels fell 77.87 percent compared to last year to $267.44 million.
  • Acyclic alcohols fell 53.72 percent compared to last year to $37.87 million.
  • Prepared, preserved shrimp, lobster, etc. fell 3.64 percent compared to last year to $27.26 million.
  • Insulated wire, cable fell 36.06 percent compared to last year to $15.52 million.

In the latest annual figures available, Venezuela recorded $16.51 billion in trade with the United States. At year’s end, its were New Orleans; Houston; Port Arthur, Texas; Mobile; and Miami. Total U.S. exports to Venezuela were $ 4.17 billion and imports from Venezuela were $12.34 billion. The U.S. deficit with Venezuela was $8.17 billion.