Venezuela is the world’s 122nd largest import and the world’s 88th largest economy (in terms of GDP). Petroleum and food products dominate the Venezuelan import industry Venezuela experienced a pronounced decline in import levels due to COVID-19, but recent figures have shown a slight reversal in this trend.
The Venezuelan economy is heavily dependent on foreign trade, as imports and exports account for more than 65% of GDP. The United States and China represent the two largest exporters to Venezuela, and are responsible for more than 40% of trade into Venezuela.
Venezuela Country Profile
Official Name (Local Language)
República Bolivariana de Venezuela
Telephone Dial In
Venezuela Imports Profile
Imports ($m USD)
Number of Import Products
Number of Import Partners
Top 5 import partners
% Partner Share
Top 5 Import Products at HS 6 digit level
Other medicaments of mixed or unmixed products,
Frozen boneless bovine meat
Oil-cake and other solid residues, of soya-bean
Maize (excl. seed)
Structures and parts of structures,i or s
Chart Showing GDP Growth Compared to rest of world
Agricultural products, livestock, raw materials, machinery and equipment, transport equipment, construction materials, medical equipment, pharmaceuticals, chemicals, iron and steel products, crude oil and petroleum products
Export to Venezuela: What is trade finance?
Export finance is a revolving facility which lenders offer financing options– it enables businesses to buy goods and can help ease cash flow problems.
Often, an alternative financier will fund all of the cost of the goods, including charges (e.g. taxes).
Trade finance offers benefits over more traditional bank funding such as bridging mortgages or business loans. Trade finance provides quick funding without affecting existing bank relationships.
How does it work?
If you’re a company importing or exporting goods around the world, then a trade finance facility would help you to fund this through offering a LC (letter of credit) or some form of cash advance.
I’m looking to export to Venezuela, how can Trade Finance Global help, and how does it work?
If you’re looking to export inventory to other countries, you may require finance for exporting, which is a commercial agreement between you (the exporter), and the importer. An alternative financier will advance you the cost of producing the stock supplies that you are exporting (as a loan), either once you have sent the goods, or before producing them. Once the importer has received the stock supplies and pays you for the import, you will repay the advance from the export bank over an agreed period.
Trade Finance Global is the trading name of TFG Finance Ltd (company number: 10305143) and TFG Publishing Ltd (12157036), incorporated in England and Wales, at 201 Haverstock Hill, Second Floor Fkgb, London, England, NW3 4QG. Trade Finance Global is registered as a Data Controller under the ICO: ZB421903 and ZB436621.
TFG Finance Ltd is an introducer, not a lender, working with Limited Companies and Incorporated Bodies who may pay us a commission.