US trade with Venezuela in the first half of 2017

Published or Updated: Oct 24, 2017

The report on US foreign trade in goods with Venezuela in the first half of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Venezuela

In the first half of 2017, US trade with Venezuela totaled $9.4 billion, up 25.53% ($1.9 billion) from the first half of 2016.

US exports to Venezuela in the first half of 2017 were $2.2 billion, down 15.50% ($0.4 billion) from the first half of 2016.

US imports from Venezuela in the first half of 2017 totaled $7.1 billion, up 47.96% ($2.3 billion) from the first half of 2016.

US trade deficit with Venezuela in the first half of 2017 was $4.9 billion, a 124.52% increase ($2.7 billion) over the first half of 2016.

Venezuela was the US 33rd largest trading partner in the first half of 2017 (up from 34th in the first half of 2016), accounting for 0.4858% of US total trade (up from 0.4137% in the first half of 2016).

Venezuela was the US 45th largest export market in the first half of 2017 (down from 40th in the first half of 2016), accounting for 0.2939% of US total exports (down from 0.3703% in the first half of 2016).

Venezuela was the US 27th largest supplier in the first half of 2017 (up from 32nd in the first half of 2016), accounting for 0.6104% of US total imports (up from 0.4420% in the first half of 2016).

US Exports to Venezuela

The major share of US exports to Venezuela in the first half of 2017 (and in the first half of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 45.99% of US total exports to Venezuela (26.57% in the first half of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 25.23% of US total exports to Venezuela (37.38% in the first half of 2016);
  • Chemical products (HS codes 28-40) - 11.49% of US total exports to Venezuela (13.45% in the first half of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 9.41% of US total exports to Venezuela (11.70% in the first half of 2016);
  • Metals and products from them (HS codes 72-83) - 3.20% of US total exports to Venezuela (4.58% in the first half of 2016).

The largest gains in US exports to Venezuela in the first half of 2017 over the first half of 2016 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $319.3 million;
  • Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes (HS code 28) - an increase of $15.6 million;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $13.2 million.

The largest declines in US exports to Venezuela in the first half of 2017 over the first half of 2016 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $261.1 million;
  • Cereals (HS code 10) - a decrease of $93.9 million;
  • Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles (HS code 85) - a decrease of $69.5 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $68.4 million;
  • Organic chemicals (HS code 29) - a decrease of $55.2 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $33.9 million;
  • Plastics and articles thereof (HS code 39) - a decrease of $24.3 million;
  • Articles of iron or steel (HS code 73) - a decrease of $21.2 million;
  • Pharmaceutical products (HS code 30) - a decrease of $18.4 million;
  • Iron and steel (HS code 72) - a decrease of $14.9 million;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $13.5 million;
  • Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings (HS code 94) - a decrease of $12.3 million;
  • Miscellaneous chemical products (HS code 38) - a decrease of $10.9 million;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $10.4 million.
US exports to Venezuela in the first half of 2017 by product groups
HS
code
Name of product group Value
of exports
in first-half 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in first-half 2016
(USD thousand)
Change
in first-half 2017
over first-half 2016
(%)
01 Live animals 124.4 0.01 182.0-31.64
02 Meat and edible meat offal 4.5 0.00 18.2-75.44
03 Fish and crustaceans, molluscs and other aquatic invertebrates 633.2 0.03 644.5-1.75
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 914.9 0.04 550.466.23
05 Products of animal origin, not elsewhere specified or included 93.4 0.00 4.12,179.20
07 Edible vegetables and certain roots and tubers 412.1 0.02 54.4656.82
08 Edible fruit and nuts; peel of citrus fruit or melons 0.0 0.00 60.7-100.00
09 Coffee, tea, maté and spices 12.4 0.00 1,066.6-98.83
10 Cereals 101,621.7 4.57 195,516.4-48.02
11 Products of the milling industry; malt; starches; inulin; wheat gluten 540.6 0.02 43.51,142.81
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 18,205.1 0.82 13,823.631.70
13 Lac; gums, resins and other vegetable saps and extracts 122.2 0.01 1,797.7-93.20
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 16.3 0.00 0.0
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 18,330.1 0.82 23,390.5-21.63
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 176.9 0.01 517.9-65.85
17 Sugars and sugar confectionery 606.1 0.03 628.4-3.55
18 Cocoa and cocoa preparations 471.6 0.02 142.5230.93
19 Preparations of cereals, flour, starch or milk; bakers’ wares 702.7 0.03 1,938.9-63.76
20 Preparations of vegetables, fruit, nuts or other parts of plants 756.4 0.03 474.159.55
21 Miscellaneous edible preparations 5,381.5 0.24 3,403.358.12
22 Beverages, spirits and vinegar 117.4 0.01 223.0-47.33
23 Residues and waste from the food industries; prepared animal feed 60,215.3 2.71 63,666.8-5.42
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 7,611.0 0.34 3,296.3130.90
26 Ores, slag and ash 184.2 0.01 0.0
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,015,573.2 45.64 696,315.245.85
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 30,448.5 1.37 14,820.8105.44
29 Organic chemicals 92,363.9 4.15 147,613.3-37.43
30 Pharmaceutical products 19,490.6 0.88 37,865.8-48.53
31 Fertilizers 7,858.2 0.35 6,215.826.42
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 8,396.0 0.38 13,721.9-38.81
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 3,439.5 0.15 4,895.5-29.74
34 Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modeling pastes, "dental waxes" and dental preparations with a basis of plaster 14,274.5 0.64 8,094.576.35
35 Albuminoidal substances; modified starches; glues; enzymes 2,618.7 0.12 5,757.8-54.52
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 306.3 0.01 581.1-47.29
37 Photographic or cinematographic goods 2,134.7 0.10 1,804.118.32
38 Miscellaneous chemical products 39,972.7 1.80 50,902.8-21.47
39 Plastics and articles thereof 25,170.0 1.13 49,480.4-49.13
40 Rubber and articles thereof 9,197.0 0.41 12,408.5-25.88
41 Raw hides and skins (other than furskins) and leather 8.0 0.00 63.4-87.38
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 925.5 0.04 3,928.9-76.44
43 Furskins and artificial fur; manufactures thereof 106.8 0.00 433.2-75.34
44 Wood and articles of wood; wood charcoal 2,614.6 0.12 976.4167.79
45 Cork and articles of cork 0.0 0.00 4.1-100.00
46 Manufactures of straw, of esparto or of other plaiting materials; basketware and wickerwork 11.6 0.00 0.0
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 1,099.5 0.05 3,764.9-70.80
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 3,942.9 0.18 17,444.7-77.40
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 376.7 0.02 824.4-54.30
50 Silk 8.0 0.00 0.0
52 Cotton 1,082.2 0.05 3,472.9-68.84
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 59.1 0.00 5.9904.59
54 Man-made filaments 85.9 0.00 170.1-49.50
55 Man-made staple fibers 109.1 0.00 191.2-42.92
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 220.9 0.01 1,134.7-80.54
57 Carpets and other textile floor coverings 217.9 0.01 233.8-6.80
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 12.7 0.00 202.6-93.73
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 1,039.8 0.05 2,624.4-60.38
60 Knitted or crocheted fabrics 135.0 0.01 111.521.11
61 Articles of apparel and clothing accessories, knitted or crocheted 819.6 0.04 3,251.8-74.80
62 Articles of apparel and clothing accessories, not knitted or crocheted 3,439.7 0.15 6,080.2-43.43
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 581.7 0.03 636.3-8.58
64 Footwear, gaiters and the like; parts of such articles 1,553.6 0.07 4,534.5-65.74
65 Headgear and parts thereof 210.3 0.01 286.6-26.62
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 7.7 0.00 210.5-96.36
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 3,231.8 0.15 5,587.1-42.16
69 Ceramic products 2,165.8 0.10 3,259.2-33.55
70 Glass and glassware 653.1 0.03 1,259.4-48.14
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 1,005.5 0.05 1,124.8-10.60
72 Iron and steel 2,794.3 0.13 17,724.9-84.24
73 Articles of iron or steel 50,710.8 2.28 71,955.3-29.52
74 Copper and articles thereof 894.9 0.04 2,955.8-69.72
75 Nickel and articles thereof 436.6 0.02 505.1-13.57
76 Aluminum and articles thereof 4,934.7 0.22 4,827.52.22
78 Lead and articles thereof 60.2 0.00 64.4-6.40
79 Zinc and articles thereof 1,508.0 0.07 372.5304.85
80 Tin and articles thereof 412.9 0.02 554.9-25.60
81 Other base metals; cermets; articles thereof 990.0 0.04 246.9301.03
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 5,018.9 0.23 15,426.1-67.46
83 Miscellaneous articles of base metal 3,490.5 0.16 6,043.3-42.24
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 283,026.4 12.72 544,105.7-47.98
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 107,496.9 4.83 176,973.7-39.26
86 Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds 2,300.3 0.10 1,959.617.39
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 62,290.3 2.80 130,716.4-52.35
88 Aircraft, spacecraft, and parts thereof 52,291.2 2.35 39,114.933.69
89 Ships, boats and floating structures 9,748.0 0.44 13,402.4-27.27
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 44,206.6 1.99 78,104.3-43.40
91 Clocks and watches and parts thereof 13,993.5 0.63 11,430.522.42
92 Musical instruments; parts and accessories of such articles 8.5 0.00 17.7-52.12
93 Arms and ammunition; parts and accessories thereof 18.1 0.00 311.4-94.18
94 Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings 12,298.1 0.55 24,583.1-49.97
95 Toys, games and sports requisites; parts and accessories thereof 2,735.2 0.12 2,952.6-7.36
96 Miscellaneous manufactured articles 2,992.2 0.13 4,170.3-28.25
97 Works of art, collectors’ pieces and antiques 177.8 0.01 124.942.38

US Imports from Venezuela

The major share of US imports from Venezuela in the first half of 2017 (and in the first half of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 94.74% of US total imports from Venezuela (95.64% in the first half of 2016);
  • Chemical products (HS codes 28-40) - 1.99% of US total imports from Venezuela (1.40% in the first half of 2016);
  • Metals and products from them (HS codes 72-83) - 1.97% of US total imports from Venezuela (1.38% in the first half of 2016).

The largest gains in US imports from Venezuela in the first half of 2017 over the first half of 2016 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $2,144.6 million;
  • Aluminum and articles thereof (HS code 76) - an increase of $71.4 million;
  • Organic chemicals (HS code 29) - an increase of $60.2 million.

The largest declines in US imports from Venezuela in the first half of 2017 over the first half of 2016 were recorded for the following product groups:

  • No product groups with a substantial decrease.
US imports from Venezuela in the first half of 2017 by product groups
HS
code
Name of product group Value
of imports
in first-half 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in first-half 2016
(USD thousand)
Change
in first-half 2017
over first-half 2016
(%)
01 Live animals 48.6 0.00 107.3-54.73
03 Fish and crustaceans, molluscs and other aquatic invertebrates 18,320.0 0.26 11,780.355.51
05 Products of animal origin, not elsewhere specified or included 288.5 0.00 255.712.85
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 4.1 0.00 3.131.55
08 Edible fruit and nuts; peel of citrus fruit or melons 87.1 0.00 0.0
11 Products of the milling industry; malt; starches; inulin; wheat gluten 60.3 0.00 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 559.5 0.01 0.0
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 19,209.0 0.27 15,916.020.69
17 Sugars and sugar confectionery 0.0 0.00 14.4-100.00
18 Cocoa and cocoa preparations 3,520.8 0.05 2,103.567.38
19 Preparations of cereals, flour, starch or milk; bakers’ wares 6.3 0.00 113.0-94.40
20 Preparations of vegetables, fruit, nuts or other parts of plants 750.0 0.01 0.0
21 Miscellaneous edible preparations 0.0 0.00 49.0-100.00
22 Beverages, spirits and vinegar 1,967.4 0.03 1,251.657.19
23 Residues and waste from the food industries; prepared animal feed 73.0 0.00 29.9144.39
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 1,406.4 0.02 1,333.05.50
26 Ores, slag and ash 49.6 0.00 0.0
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 6,748,985.0 94.72 4,604,371.046.58
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 21,800.5 0.31 9,275.5135.03
29 Organic chemicals 109,897.5 1.54 49,705.7121.10
31 Fertilizers 6,945.8 0.10 4,598.151.06
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 23.0 0.00 15.151.99
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 882.0 0.01 589.849.54
34 Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modeling pastes, "dental waxes" and dental preparations with a basis of plaster 223.5 0.00 64.4247.27
38 Miscellaneous chemical products 62.6 0.00 727.7-91.39
39 Plastics and articles thereof 1,787.2 0.03 2,237.0-20.11
40 Rubber and articles thereof 91.8 0.00 429.5-78.62
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 39.9 0.00 21.585.96
44 Wood and articles of wood; wood charcoal 1,008.5 0.01 652.454.59
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 3,606.9 0.05 21.516,665.19
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 131.9 0.00 9.21,338.60
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 64.0 0.00 49.429.52
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 0.0 0.00 45.8-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 3.3 0.00 0.0
62 Articles of apparel and clothing accessories, not knitted or crocheted 50.1 0.00 0.76,862.36
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 33.8 0.00 8.4303.50
64 Footwear, gaiters and the like; parts of such articles 44.3 0.00 36.421.79
65 Headgear and parts thereof 21.9 0.00 15.937.47
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 736.8 0.01 1,525.9-51.71
69 Ceramic products 207.4 0.00 224.1-7.48
70 Glass and glassware 118.3 0.00 2,826.1-95.82
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 6,285.7 0.09 3,128.1100.95
72 Iron and steel 14,303.3 0.20 17,477.6-18.16
73 Articles of iron or steel 131.6 0.00 341.4-61.44
74 Copper and articles thereof 4,587.5 0.06 2,600.276.43
75 Nickel and articles thereof 0.0 0.00 3.6-100.00
76 Aluminum and articles thereof 113,481.9 1.59 42,052.1169.86
78 Lead and articles thereof 7,840.0 0.11 3,619.2116.62
79 Zinc and articles thereof 29.8 0.00 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 23.9 0.00 24.4-2.09
83 Miscellaneous articles of base metal 88.3 0.00 236.8-62.72
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 926.6 0.01 1,008.7-8.14
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 17,202.4 0.24 15,862.88.44
86 Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds 0.0 0.00 1,027.5-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 695.7 0.01 612.513.59
88 Aircraft, spacecraft, and parts thereof 54.7 0.00 86.7-36.87
89 Ships, boats and floating structures 354.8 0.00 329.37.73
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 334.0 0.00 275.321.30
91 Clocks and watches and parts thereof 9.9 0.00 3.9156.36
92 Musical instruments; parts and accessories of such articles 12.4 0.00 0.0
94 Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings 89.6 0.00 53.567.43
95 Toys, games and sports requisites; parts and accessories thereof 37.4 0.00 29.028.84
96 Miscellaneous manufactured articles 39.8 0.00 80.8-50.75
97 Works of art, collectors’ pieces and antiques 4,192.4 0.06 2,065.4102.98
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce