Venezuela, Bolivarian Republic of world map

Trade in Venezuela, Bolivarian Republic of

The Bolivarian Republic of Venezuela was the world’s 113th largest exporter of goods in 2021. Export values were $3.6  billion USD. The Bolivarian Republic of Venezuela’s top export category was fuels and mining products, followed by manufactures, and agricultural products. In 2013, The Bolivarian Republic of Venezuela’s main export destination markets for goods and services trade were to the United States, China and Colombia. In terms of imports, The Bolivarian Republic of Venezuela’s import values were $7.7 billion USD in 2021. The Bolivarian Republic of Venezuela’s top import category was manufactures, followed by agricultural products and fuels and mining products. Leading import partners were the United States, China and Brazil. The Bolivarian Republic of Venezuela is part of 3 different Regional Trade Agreements, such as Andean Community (CAN), Global System of Trade Preferences among Developing Countries (GSTP) and Latin American Integration Association (LAIA).
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General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

Official Name

Bolivarian Republic of Venezuela

Abbreviation

VE

Capital

Caracas

WTO Membership Date

1 January 1995

Legal System

civil law system based on the Spanish civil code

Language

Spanish

Additional Information

Financial Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.

Currency

Venezuelan digital bolívar

Exchange Rate

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GTFP Confirming Banks

Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited.
  • Banco Provincial SA - Caracas, Venezuela - SWIFT: BPROVECAXXX

Contact Information

This section includes contact information for business support organizations and national resources.

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.
  • Ministerio del Poder Popular para Agricultura y Tierras
    Instituto Nacional de Salud Agricola Integral (INSAI)
    Presidente: Ángela Bolivar Acosta
    Phone: +(58) 212 705 3500 y 705 3415

    Avenida Francisco López con calle Pascal Navarro
    Torre Banvenez, Piso 12-13-14

TBT Enquiry Points

Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements.
  • Ministerio de la Producción y el Comercio
    Vice-ministerio de Industria
    Servicio Autónomo Nacional de Normalización, Calidad, Metrología y
    Reglamentos Técnicos (SENCAMER)
    Phone: +(58 212) 761 8671; +(58 212) 761 4520
    Website: http://www.sencamer.gov.ve

    Avenida Libertador,
    Centro Comercial Los Cedros, PH
    Caracas

    [email protected]

Additional Information

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Last Reviewed: June, 2023

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