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Export Market

Venezuela

ISO: VE / VEN

Country Profile

Capital Caracas
Population 28.5M
GDP $119.8B (2024)
GDP per Capita $4,218
Currency Venezuelan bolívar soberano (VES Bs.S.)
Language Spanish
Timezone UTC-04:00
Region South America

Trade Partners

Venezuela Exports To

  • USA 50.0%
  • China 10.0%
  • Spain 9.0%
  • Brazil 6.0%
  • Turkey 5.0%

Key exports: crude petroleum, petroleum coke, scrap iron, alcohols, fertilizers (2023)

Venezuela Imports From

  • China 35.0%
  • USA 24.0%
  • Brazil 12.0%
  • Colombia 7.0%
  • Turkey 4.0%

Key imports: refined petroleum, soybean meal, corn, plastic products, vehicle parts/accessories (2023)

Economic Overview

South American economy; ongoing hyperinflation since mid-2010s; chaotic economy due to political corruption, infrastructure cuts, and human rights abuses; in debt default; oil exporter; hydropower consumer; rising Chinese relations

Government: federal presidential republic

UK Trade Status

No FTA

There is currently no free trade agreement between the UK and Venezuela. Standard WTO terms apply.

Geographic Region

Latin America and Caribbean

Export Guidance

Relevant guidance for exporting to Venezuela.

Start Your Export Journey

Export to the EU after Brexit Start exporting from the UK Manage your export compliance

Also in This Region

🇦🇷 Argentina 🇧🇸 Bahamas FTA 🇧🇧 Barbados FTA 🇧🇿 Belize FTA 🇧🇴 Bolivia 🇧🇷 Brazil 🇨🇱 Chile FTA 🇨🇴 Colombia FTA

Official Resources

Government export support for Venezuela.

great.gov.uk Market Guide → GOV.UK Country Information →
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