Venezuela

Venezuela ranked No. 69 in total trade value through November with a total of $3.11 billion. Exports totaled $1.2 billion and Imports totaled $1.91 billion, a deficit of $711.48 million.

January – November 2019

Top Trading Ports

Total Trade: $3.11 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $494,125,303
2Port Everglades, Fla. $448,264,049
3Port of Lake Charles, La. $448,237,609
4Port of Houston $386,737,742
5Port of New Orleans $224,953,589
6Miami International Airport $218,702,523
7Port of Port Arthur, Texas $158,043,461
8Port of Newark $140,979,623
9Port of Corpus Christi, Texas $121,957,265
10Port of New York $52,262,806

U.S. trade with Venezuela rose to $3.11 billion through November

Venezuela’s trade with the United States rose to $3.11 billion through the first 11 months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 82.17 percent below its total trade during the same time period last year. U.S. exports to Venezuela decreased 77.45 percent while U.S. imports from Venezuela fell 84.24 percent. The U.S. deficit with Venezuela was $711.48 million.

Through November, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Pascagoula, Miss.; No. 2 Port Everglades, Fla.; No. 3 Port of Lake Charles, La.; No. 4 Port of Houston; 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 64.42 percent of Venezuela’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. fell 57.16 percent to $494.13 million.
    Exports fell 57.76 percent to $517,193. Imports fell 57.16 percent to $493.61 million.
  • Trade with No. 2 Port Everglades, Fla. fell 15.55 percent to $448.26 million.
    Exports rose 7.22 percent to $387.89 million. Imports fell 64.28 percent to $60.37 million.
  • Trade with No. 3 Port of Lake Charles, La. fell 82.94 percent to $448.24 million.
    Exports fell 77.12 percent to $80.02 million. Imports fell 83.84 percent to $368.22 million.
  • Trade with No. 4 Port of Houston fell 86.26 percent to $386.74 million.
    Exports fell 84.58 percent to $322.28 million. Imports fell 91.11 percent to $64.46 million.
  • Trade with No. 5 Port of New Orleans fell 91.49 percent to $224.95 million.
    Exports fell 76.92 percent to $47.64 million. Imports fell 92.73 percent to $177.31 million.

Venezuela ranked No. 69 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 $3.81 trillion, down 1.42 percent compared to the same period last year. The nation’s exports dropped 1.32 percent to $1.51 trillion; imports dropped 1.48 percent to $2.3 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 $786.7 billion, down compared to the same period of last year when the deficit was $800.89 billion.

The top five U.S. exports to Venezuela by value through November were the categories of Gasoline, other fuels; Cell phones, related equipment; Soybean oilcake, other solid residue, not ground; Motor vehicles for transporting people; and Aircraft engines, engine parts, respectively. They accounted for 40.01 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 Gold –– accounted for 90.71 percent of all inbound shipments.

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

  • Gasoline, other fuels fell 91.34 percent compared to last year to $303.58 million.
  • Cell phones, related equipment rose 67.08 percent compared to last year to $61.13 million.
  • Soybean oilcake, other solid residue, not ground fell 40.22 percent compared to last year to $42.2 million.
  • Motor vehicles for transporting people rose 43.15 percent compared to last year to $39.83 million.
  • Aircraft engines, engine parts rose 24.69 percent compared to last year to $32.73 million.

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

  • Oil fell 85.7 percent compared to last year to $1.36 billion.
  • Gasoline, other fuels fell 86.31 percent compared to last year to $267.44 million.
  • Acyclic alcohols fell 73.2 percent compared to last year to $37.87 million.
  • Prepared, preserved shrimp, lobster, etc. fell 5.82 percent compared to last year to $35.8 million.
  • Gold rose 115.44 percent compared to last year to $26.78 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.