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).
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What do we import from Venezuela?
U.S. total imports of agricultural products from Venezuela totaled $19 million in 2019. Leading categories include: cocoa beans ($4 million), cocoa paste & cocoa butter ($3 million), unroasted coffee ($3 million), snack foods ($1 million), and processed fruit & vegetables ($206 thousand).
What is a major product of Venezuela?
Natural resources: Petroleum, natural gas, coal, iron ore, gold, other minerals, hydroelectric power, bauxite. Agriculture (5% of GDP): Products–rice; coffee; corn; sugar; bananas; dairy, meat, and poultry products. Petroleum industry (25% of GDP): oil refining, petrochemicals.
What is the main import of Venezuela?
Venezuela main imports are: electronics (32 percent of total imports), chemical products (18 percent), agricultural products and livestock (11 percent), base metals (8 percent) and food, beverages and tobacco (6 percent).
Does Venezuela export goods?
Venezuela exports rice, corn, fish, tropical fruit, coffee, beef and pork. The country is not self-sufficient in most areas of agriculture.
What is Venezuela famous for?
It has the world’s largest known oil reserves and has been one of the world’s leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues.
Does Venezuela import and export?
Venezuela Raw materials exports are worth US$ 75,181 million, product share of 85.47%. Venezuela Raw materials imports are worth US$ 3,973 million, product share of 8.84%. Venezuela Intermediate goods exports are worth US$ 1,495 million, product share of 1.70%.
What is Venezuela main source of income?
oil sector
The oil sector is the dominant force in Venezuela. The sector represents 80 percent of exports and is the largest source of foreign currency. Depending on the oil price, the sector delivers 40 to 70 percent of the government’s income, and it is the biggest contributor to the fiscal sector.
What is Venezuela’s main economy?
The Venezuelan economy is based primarily on the production and exploitation of petroleum. From the late 1940s to 1970 the country was the world’s largest petroleum exporter, and it was long one of the principal exporters of oil to the United States.
What 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).
Does Venezuela import rice?
Imports of rice in Venezuela amounted to 515 thousand metric tons in marketing year (MY) 2018/29, up from 400 thousand tons in the previous year. Imports are forecast to decrease in the following years, reaching 450 thousand tons in MY 2020/21.
What are 3 interesting facts about Venezuela?
Fun Facts about Venezuela for Kids
- Population: 29 million people live in Venezuela (2021)
- Capital: Caracas with 3 million inhabitants.
- Name: Bolivarian Republic of Venezuela.
- Government: federal presidential republic.
- Official Language: Spanish.
- Religion: more than 95% are Christians.
What are 5 interesting facts about Venezuela?
10 Fun Facts about Venezuela
- #1 Venezuela is home to the world’s largest rodent.
- #2 It’s a place where traditional toys get along with modern playing trinkets.
- #3 Colorful neighbors of Caracas.
- #4 It is a country where not all of the mountains have a peak.
- #5 Home to the world’s highest waterfall.
Why is the Venezuelan 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.
Is Venezuela considered a poor country?
The 2020-2021 National Survey of Living Conditions (ENCOVI), conducted by researchers at Andres Bello Catholic University (UCAB), found that of the country’s 28 million residents, 76.6% live in extreme poverty, up from 67.7% last year.
Is Coke Zero banned in Venezuela?
CARACAS (Reuters) – The Venezuelan government of U.S.-critic President Hugo Chavez on Wednesday ordered Coca-Cola Co to withdraw its Coke Zero beverage from the South American nation, citing unspecified dangers to health.
What is Venezuela famous food?
16 Most Popular Venezuelan Foods You Should Try
- 1 – Pabellón criollo – Rice, plantain, beans, and beef.
- 2 – Hallacas – Meat tamales.
- 3 – Pan de jamón – Ham Bread.
- 4 – Bollo pelón – Corn dough filled with beef stew.
- 5 – Pisca Andina – egg and milk soup.
- 6 – Patacón zuliano – Plantain filled with beef.
Is Venezuela cheap to visit?
Venezuela is a cheap destination for foreigners at the moment… as long as they are willing to negotiate in the parallel currency market.A dollar-holder traveler can benefit from it: with a handful of dollars, you can get many Venezuelan bolivars, making the country particularly cheap.
How does Venezuela make money?
1920s to 1970s: Oil is discovered in Venezuela, which is found to have the world’s largest reserves. The nation’s economic development is based on rising prices and profits in oil exports.
Who exports oil from Venezuela?
In 2019, Venezuela exported primarily to India (321,000 b/d), China (147,000 b/d), and Malaysia (119,000 b/d) (Figure 3). In the first half of 2020, exports of Venezuela’s crude oil fell to an average of 500,000 b/d, based on tanker loadings data.
Who is Venezuela’s biggest trading partner?
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. The U.S. purchases petroleum at the market price and constitutes, consequently, Venezuela’s first source of currency.
