Frequent question: What products does Venezuela export?

Exports The top exports of Venezuela are Crude Petroleum ($12.2B), Refined Petroleum ($761M), Acyclic Alcohols ($337M), Gold ($235M), and Iron Reductions ($161M), exporting mostly to India ($4.98B), China ($4.19B), United States ($1.82B), Spain ($821M), and Malaysia ($558M).

What products does Venezuela produce?

Natural resources: Petroleum, natural gas, coal, iron ore, gold, other minerals, hydroelectric power, bauxite. Agriculture (5% of GDP): Products–rice; coffee; corn; sugar; bananas; dairy, meat, and poultry products. Petroleum industry (25% of GDP): oil refining, petrochemicals.

What is Venezuela main product?

The main agricultural products of the country are corn, soy, sugar cane, rice, cotton, bananas, vegetables, coffee, cocoa, beef and pork meat, milk, eggs and fish. However, Venezuela enjoys important natural resources, such as petroleum (their main natural resource), gas, gold and silver mines, bauxite and diamonds.

What products does Venezuela import and export?

Also shown is the percentage share each product category represents in terms of overall imports into Venezuela.

  • Mineral fuels including oil: US$940.5 million (15% of total imports)
  • Cereals: $672.7 million (10.8%)
  • Machinery including computers: $642.8 million (10.3%)
  • Electrical machinery, equipment: $536.9 million (8.6%)
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What does Venezuela import the most?

Venezuela main imports are: electronics (32 percent of total imports), chemical products (18 percent), agricultural products and livestock (11 percent), base metals (8 percent) and food, beverages and tobacco (6 percent).

What are 3 major exports of Venezuela?

Exports The top exports of Venezuela are Crude Petroleum ($12.2B), Refined Petroleum ($761M), Acyclic Alcohols ($337M), Gold ($235M), and Iron Reductions ($161M), exporting mostly to India ($4.98B), China ($4.19B), United States ($1.82B), Spain ($821M), and Malaysia ($558M).

What is Venezuela famous for?

It has the world’s largest known oil reserves and has been one of the world’s leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues.

Is Venezuela rich or poor?

Since 2017, the share of households living under the poverty line in Venezuela has been surpassing 90 percent. In addition, more than six out of every ten households (64 percent) lived in extreme poverty in 2020.

What makes up Venezuela economy?

The economy of Venezuela is mainly based on petroleum exploitation and manufacturing. Petroleum alone makes up more than 50% of the country’s total GDP. The most common products from the manufacturing sector include aluminum, cement, steel, electronics, automobiles, and food and drinks.

Why is Venezuela economy so bad?

Political corruption, chronic shortages of food and medicine, closure of businesses, unemployment, deterioration of productivity, authoritarianism, human rights violations, gross economic mismanagement and high dependence on oil have also contributed to the worsening crisis.

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What does the US buy from Venezuela?

U.S. imports from Venezuela totaled $167 million in 2020, down from $1.9 billion in 2019. U.S. exports to Venezuela have historically included petroleum and refined petroleum products, machinery, organic chemicals, and agricultural products.

Can the US sell products to Venezuela?

Primary Sanctions

All property and interests in property of the government of Venezuela are now fully blocked. The EO provides that no “United States Person” can have any dealings, unless otherwise exempted, with the government of Venezuela.

How much money did the US give Venezuela?

U.S. to Give $336 Million in Aid to Venezuelans -State Department.

What products does Venezuela export to the US?

In 2019, Venezuela exported $1.82B to United States. The main products exported from Venezuela to United States were Crude Petroleum ($1.26B), Refined Petroleum ($257M), and Processed Crustaceans ($44.5M).

Why is Venezuela in poverty?

Since 2014, the country has suffered from shortages of basic supplies and hyperinflation. Millions of people are in need of aid. The government has not commented but it often says US sanctions are to blame. Critics, however, say the crisis is a result of President Nicolás Maduro’s economic mismanagement.