Bilateral trade in goods between both countries reached $1.3 billion in 2020, down from $3.2 billion in 2019. U.S. goods exports to Venezuela totaled $1.13 billion in 2020, down from $1.3 billion in 2019. U.S. imports from Venezuela totaled $167 million in 2020, down from $1.9 billion in 2019.
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 ($44.5M).
Who is Venezuela’s largest trade partner?
Venezuela top 5 Export and Import partners
|Exporter||Trade (US$ Mil)||Partner share(%)|
How is the US involved with Venezuela?
The United States and Venezuela have had no formal diplomatic ties since January 23, 2019, but continue to have relations under Juan Guaidó, who is recognized by at least 57 countries, including the United States, as Interim President.
Can the US sell products to Venezuela?
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 is Venezuela main 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 is Venezuela’s main import?
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).
Can Venezuela trade with other countries?
Foreign Trade in Figures
According to the latest available data, Venezuela’s foreign trade represented 67.2% of the GDP in 2017. … Venezuela’s main trade partners are the United States, China, India, Mexico, Turkey, and Brazil. The United States remains the main petroleum customer and the country’s first trade partner.
Does Venezuela have free trade?
At present, Venezuela participates in free trade area commitments in the Andean Group, where it applies the Common External Tariff (CET), and the Group of Three (with Colombia and Mexico).
Is the US helping Venezuela?
The United States supports a wide range of life-saving humanitarian programs for Venezuelans, such as food assistance; emergency shelter; access to health care; water, sanitation, and hygiene supplies; support for livelihoods; COVID-19 support, and protection for vulnerable groups including women, youth, LGBTQI+, and …
What are the US sanctions on Venezuela?
The sanctions restrict the Venezuelan government’s access to U.S. debt and equity markets.” This includes the state-run oil company, PDVSA. Issued in 2018, EO 13827 prohibits the use of Venezuelan digital currency, and EO 13835 prohibits the purchase of Venezuelan debt.
Why did the US put sanctions on Venezuela?
U.S. sanctions are designed to ensure that Maduro and his cronies don’t profit from illegal gold mining, state-operated oil operations, or other business transactions that would enable the regime’s criminal activity and human rights abuses.
Can I export to Venezuela?
Most recently, on August 5, 2019, President Trump issued another Executive Order placing further constraints on engagement with Venezuela. … However, you should still contact the U.S. Department of Commerce, Bureau of Industry and Security (“BIS”) to ensure that your export to Venezuela is authorized.
How do I start a business in Venezuela?
To start a business in Venezuela, you will definitely need 1 director and 1 sharer. The authorized fund of the LLC is not less than $400.
To open a Venezuelan company, you will need to contact:
- Venezuelan State Register;
- Foreign investment management;
- National Tax Service/Customs for obtaining the EIN code;