Venezuela

Venezuela ranked No. 90 in total trade value through May with a total of $456.19 million. Exports totaled $395.61 million and Imports totaled $60.58 million, a surplus of $335.03 million.

U.S. trade with Venezuela rose to $376.09 million through May

Venezuela’s trade with the United States rose to $376.09 million through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 83.9 percent below its total trade during the same time period last year. U.S. exports to Venezuela decreased 46.29 percent while U.S. imports from Venezuela fell 97.05 percent. The U.S. surplus with Venezuela was $273.97 million.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port Everglades, Fla.; No. 2 Miami Int’l Airport; No. 3 Port of New Orleans; No. 4 Port of Houston; and No. 5 Port of Southern Louisiana, Gramercy, St. James Parish. During the same period the previous year, the top five were No. 1 Port of Pascagoula, Miss.; No. 2 Port of Lake Charles, La.; No. 3 Port of Houston; No. 4 Port of New Orleans and No. 5 Port Everglades, Fla.. In the current time period, the top five accounted for 82.15 percent of Venezuela’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port Everglades, Fla. fell 23.18 percent to $150.58 million.
    Exports fell 12.73 percent to $139.21 million. Imports fell 68.85 percent to $11.37 million.
  • Trade with No. 2 Miami Int’l Airport fell 8.7 percent to $86.46 million.
    Exports rose 8.17 percent to $60.36 million. Imports fell 32.9 percent to $26.1 million.
  • Trade with No. 3 Port of New Orleans fell 66.01 percent to $67.53 million.
    Exports rose 201.42 percent to $67.39 million. Imports fell 99.92 percent to $140,863.
  • Trade with No. 4 Port of Houston fell 82.08 percent to $52.12 million.
    Exports fell 81.61 percent to $44.2 million. Imports fell 84.31 percent to $7.92 million.
  • Trade with No. 5 Port of Southern Louisiana, Gramercy, St. James Parish rose 20263 percent to $18.07 million.
    Exports rose 20263 percent to $18.07 million. There were no imports.

Venezuela ranked No. 90 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 70.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Venezuela by value through May were the categories of Cell phones, related equipment; Corn; Passenger vehicles; Soybean oil; and Flour, meal of oil seed, olea fruit, respectively. They accounted for 36.22 percent of total exports to Venezuela.

The value of the top five categories of U.S. imports from Venezuela –– Prepared, preserved shrimp, lobster, etc.; Insulated wire, cable; Shrimp, other crustaceans; Fish, fresh or chilled; and Frozen fish –– accounted for 66.09 percent of all inbound shipments.

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

  • Cell phones, related equipment rose 60.24 percent compared to last year to $42.11 million.
  • Corn rose 9981.64 percent compared to last year to $38.93 million.
  • Passenger vehicles rose 99.41 percent compared to last year to $22.03 million.
  • Soybean oil rose 5732.09 percent compared to last year to $20.31 million.
  • Flour, meal of oil seed, olea fruit totaled $19.92 million. The previous year, there were no exports in this category.

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

  • Prepared, preserved shrimp, lobster, etc. fell 19.89 percent compared to last year to $16.45 million.
  • Insulated wire, cable fell 33.8 percent compared to last year to $6.63 million.
  • Shrimp, other crustaceans fell 33.75 percent compared to last year to $6.59 million.
  • Fish, fresh or chilled fell 34.17 percent compared to last year to $6.48 million.
  • Frozen fish fell 12.01 percent compared to last year to $3.89 million.

In the latest annual figures available, Venezuela recorded $3.21 billion in trade with the United States. Total U.S. exports to Venezuela were $ 1.27 billion and imports from Venezuela were $1.93 billion. The U.S. deficit with Venezuela was $661.1 million.