You asked: What does Venezuela import most?

What are Venezuela Major imports and exports?

Economy of Venezuela

Exports $32.08 billion (2017)
Export goods Petroleum, chemicals, agricultural products and basic manufactures
Main export partners United States 42% China 23% India 19% Singapore 4.5% Spain 1.4% (2017)
Imports $9.1 billion (2017)

What is Venezuela’s top export?

From the more granular four-digit Harmonized Tariff System code level, crude oil represents Venezuela’s most valuable exported product at 63.2% of the country’s total.

What are 3 of Venezuela’s top imports?

Imports The top imports of Venezuela are Refined Petroleum ($938M), Rice ($242M), Corn ($199M), Rubber Tires ($168M), and Soybean Meal ($161M), importing mostly from China ($1.54B), United States ($1.23B), Brazil ($421M), Spain ($320M), and Mexico ($314M).

What is Venezuela most known 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.

Where does Venezuela import from?

Venezuela imports from China worth US$ 7,645 million, with a partner share of 17.01 percent. Venezuela imports from Brazil worth US$ 4,503 million, with a partner share of 10.02 percent. Venezuela imports from Colombia worth US$ 2,258 million, with a partner share of 5.02 percent.

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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 a rich country?

It says it had the fourth wealthiest economy in the world and the most thriving country in Latin America. It further claims that Venezuela’s currency was the worth the most, second only to the U.S. dollar. It also says it had a thriving health care system.

Does Venezuela trade with us?

Before the United States suspended diplomatic operations in Venezuela, the United States was Venezuela’s largest trading partner. … 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.