Venezuela (Bolivarian republic of)

In 2013, the value of merchandise exports of the Bolivarian Republic of Venezuela decreased moderately by 7.4 percent to reach 88.0 bln US$, while its merchandise imports decreased substantially by 23.9 percent to reach 45.0 bln US$ (see graph 1, table 2 and table 3). The merchandise trade balance recorded a large surplus of 43.0 bln US$ (see graph 1). The largest merchandise trade balance was with MDG Eastern Asia at 19.8 bln US$ (see graph 4). Merchandise exports in the Bolivarian Republic of Venezuela were highly concentrated amongst partners; imports were diversified. The top 3 partners accounted for 80 percent or more of exports and 14 partners accounted for 80 percent or more of imports (see graph 5). In 2012, the value of exports of services of the Bolivarian Republic of Venezuela increased substantially by 10.6 percent, reaching 2.2 bln US$, while its imports of services increased substantially by 15.8 percent and reached 18.2 bln US$ (see graph 2). There was a large trade in services deficit of 16.0 bln US$. See footnote*.

Related Subject(s): International Trade and Finance

Countries: Venezuela