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Venezuela

Venezuela ranked No. 59 in total trade value through May with a total of $2.46 billion. Exports totaled $683.08 million and Imports totaled $1.78 billion, a deficit of $1.09 billion.

January – May 2019

Top Trading Ports

Total Trade: $2.46 billion

RankPortTotal YTD
1Port of Pascagoula, Miss. $494,125,303
2Port of Lake Charles, La. $448,237,609
3Port of Houston $290,846,821
4Port of New Orleans $198,693,583
5Port Everglades, Fla. $196,016,263
6Port of Port Arthur, Texas $158,043,461
7Port of Newark $131,191,076
8Port of Corpus Christi, Texas $121,957,265
9Miami International Airport $94,697,579
10Port of New York $41,542,092

U.S. trade with Venezuela rose to $2.46 billion through May

Venezuela’s trade with the United States rose to $2.46 billion through the first five months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 63.87 percent below its total trade during the same time period last year. U.S. exports to Venezuela decreased 68.89 percent while U.S. imports from Venezuela fell 61.49 percent. The U.S. deficit with Venezuela was $1.09 billion.

Through May, 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 of New Orleans; and No. 5 Port Everglades, Fla.. During the same period the previous year, the top five were No. 1 Port of New Orleans No. 2 Port of Lake Charles, La. No. 3 Port of Houston 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 66.15 percent of Venezuela’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Pascagoula, Miss. rose 52.98 percent to $494.13 million.
    Exports fell 57.76 percent to $517,193. Imports rose 53.4 percent to $493.61 million.
  • Trade with No. 2 Port of Lake Charles, La. fell 52.71 percent to $448.24 million.
    Exports fell 17.51 percent to $80.02 million. Imports fell 56.72 percent to $368.22 million.
  • Trade with No. 3 Port of Houston fell 68.37 percent to $290.85 million.
    Exports fell 66.68 percent to $240.38 million. Imports fell 74.51 percent to $50.46 million.
  • Trade with No. 4 Port of New Orleans fell 81.69 percent to $198.69 million.
    Exports fell 82.7 percent to $22.36 million. Imports fell 81.55 percent to $176.34 million.
  • Trade with No. 5 Port Everglades, Fla. fell 19.65 percent to $196.02 million.
    Exports rose 6.66 percent to $159.51 million. Imports fell 61.33 percent to $36.5 million.

Venezuela ranked No. 59 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 35.

Meanwhile, total U.S. trade with the world increased to $1.71 trillion, up 0.56 percent compared to the same period last year. The nation’s exports climbed 0.12 percent to $685.55 billion; imports climbed 0.86 percent to $1.03 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 $342.77 billion, up compared to the same period of last year when the deficit was $334.82 billion.

The top five U.S. exports to Venezuela by value through May were the categories of Gasoline, other fuels; Cell phones, related equipment; Ethers, ether-alcohols, alcohol peroxides etc.; Petroleum gases, other gaseous hydrocarbons; and Soybean oilcake, other solid residue, not ground, respectively. They accounted for 52.8 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 95.59 percent of all inbound shipments.

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

  • Gasoline, other fuels fell 78.92 percent compared to last year to $284.51 million.
  • Cell phones, related equipment rose 102.36 percent compared to last year to $26.28 million.
  • Ethers, ether-alcohols, alcohol peroxides etc. fell 58.68 percent compared to last year to $17.84 million.
  • Petroleum gases, other gaseous hydrocarbons fell 73.64 percent compared to last year to $16.68 million.
  • Soybean oilcake, other solid residue, not ground fell 55.71 percent compared to last year to $15.33 million.

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

  • Oil fell 61.47 percent compared to last year to $1.36 billion.
  • Gasoline, other fuels fell 66.51 percent compared to last year to $267.44 million.
  • Acyclic alcohols fell 25.43 percent compared to last year to $36.89 million.
  • Prepared, preserved shrimp, lobster, etc. rose 6.46 percent compared to last year to $20.53 million.
  • Insulated wire, cable fell 29.69 percent compared to last year to $10.02 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.