US trade with Venezuela in the 1st quarter of 2017

Published or Updated: Jul 20, 2017

The report on US foreign trade in goods with Venezuela in the 1st quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Venezuela

In the 1st quarter of 2017, US trade with Venezuela totaled $4.8 billion, up 42.22% ($1.4 billion) from the 1st quarter of 2016.

US exports to Venezuela in the 1st quarter of 2017 were $1.1 billion, down 17.96% ($0.2 billion) from the 1st quarter of 2016.

US imports from Venezuela in the 1st quarter of 2017 totaled $3.8 billion, up 80.04% ($1.7 billion) from the 1st quarter of 2016.

US trade deficit with Venezuela in the 1st quarter of 2017 was $2.7 billion, a 245.88% increase ($1.9 billion) over the 1st quarter of 2016.

Venezuela was the US 31st largest trading partner in the 1st quarter of 2017 (up from 34th in the 1st quarter of 2016), accounting for 0.5159% of US total trade (up from 0.3889% in the 1st quarter of 2016).

Venezuela was the US 44th largest export market in the 1st quarter of 2017 (down from 41st in the 1st quarter of 2016), accounting for 0.2893% of US total exports (down from 0.3780% in the 1st quarter of 2016).

Venezuela was the US 24th largest supplier in the 1st quarter of 2017 (up from 33rd in the 1st quarter of 2016), accounting for 0.6651% of US total imports (up from 0.3961% in the 1st quarter of 2016).

US Exports to Venezuela

The major share of US exports to Venezuela in the 1st quarter of 2017 (and in the 1st quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 43.58% of US total exports to Venezuela (22.14% in the 1st quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 26.39% of US total exports to Venezuela (44.08% in the 1st quarter of 2016);
  • Chemical products (HS codes 28-40) - 12.98% of US total exports to Venezuela (13.95% in the 1st quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 8.84% of US total exports to Venezuela (6.81% in the 1st quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 3.09% of US total exports to Venezuela (5.82% in the 1st quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 0.36% of US total exports to Venezuela (1.24% in the 1st quarter of 2016).

The largest gains in US exports to Venezuela in the 1st quarter of 2017 over the 1st quarter 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 $176.3 million;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $13.8 million;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $13.3 million;
  • Ships, boats and floating structures (HS code 89) - an increase of $6.8 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 $6.0 million;
  • Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder (HS code 12) - an increase of $4.9 million;
  • Fertilizers (HS code 31) - an increase of $3.7 million.

The largest declines in US exports to Venezuela in the 1st quarter of 2017 over the 1st quarter of 2016 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $195.2 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 $48.4 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $41.6 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $28.1 million;
  • Organic chemicals (HS code 29) - a decrease of $27.0 million;
  • Articles of iron or steel (HS code 73) - a decrease of $23.4 million;
  • Plastics and articles thereof (HS code 39) - a decrease of $12.7 million;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $11.2 million;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $10.4 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $7.4 million;
  • Pharmaceutical products (HS code 30) - a decrease of $7.0 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 $6.6 million;
  • Iron and steel (HS code 72) - a decrease of $6.0 million;
  • Miscellaneous chemical products (HS code 38) - a decrease of $5.1 million;
  • Cereals (HS code 10) - a decrease of $3.9 million;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - a decrease of $3.4 million.
US exports to Venezuela in the 1st quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q1 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q1 2016
(USD thousand)
Change
in Q1 2017
over Q1 2016
(%)
01 Live animals 107.3 0.01 127.4-15.78
02 Meat and edible meat offal 0.0 0.00 18.2-100.00
03 Fish and crustaceans, molluscs and other aquatic invertebrates 225.2 0.02 128.175.78
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 263.5 0.02 172.352.90
05 Products of animal origin, not elsewhere specified or included 79.3 0.01 0.0
07 Edible vegetables and certain roots and tubers 166.5 0.02 36.3359.06
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 3.5 0.00 743.1-99.53
10 Cereals 50,451.2 4.68 54,328.3-7.14
11 Products of the milling industry; malt; starches; inulin; wheat gluten 109.0 0.01 7.91,276.62
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 12,897.7 1.20 7,984.761.53
13 Lac; gums, resins and other vegetable saps and extracts 0.0 0.00 1,047.9-100.00
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 12.1 0.00 0.0
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 13,856.4 1.29 58.923,436.87
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 143.0 0.01 340.4-57.98
17 Sugars and sugar confectionery 283.8 0.03 156.781.08
18 Cocoa and cocoa preparations 448.7 0.04 63.2609.70
19 Preparations of cereals, flour, starch or milk; bakers’ wares 352.3 0.03 1,647.3-78.61
20 Preparations of vegetables, fruit, nuts or other parts of plants 325.8 0.03 330.9-1.56
21 Miscellaneous edible preparations 1,656.2 0.15 1,012.463.60
22 Beverages, spirits and vinegar 91.3 0.01 0.0
23 Residues and waste from the food industries; prepared animal feed 13,827.3 1.28 21,225.1-34.85
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 4,429.8 0.41 1,931.6129.34
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 465,118.6 43.17 288,798.161.05
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 13,202.0 1.23 7,167.784.19
29 Organic chemicals 50,414.0 4.68 77,408.6-34.87
30 Pharmaceutical products 13,593.4 1.26 20,600.2-34.01
31 Fertilizers 3,689.9 0.34 22.616,215.37
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 4,738.1 0.44 4,528.44.63
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,137.4 0.11 1,788.6-36.41
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 7,415.9 0.69 5,162.843.64
35 Albuminoidal substances; modified starches; glues; enzymes 1,294.4 0.12 2,077.2-37.69
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 21.6 0.00 454.0-95.24
37 Photographic or cinematographic goods 1,811.7 0.17 1,057.471.34
38 Miscellaneous chemical products 22,728.9 2.11 27,794.0-18.22
39 Plastics and articles thereof 15,647.7 1.45 28,397.3-44.90
40 Rubber and articles thereof 4,183.1 0.39 6,723.8-37.79
41 Raw hides and skins (other than furskins) and leather 5.2 0.00 63.4-91.75
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 379.5 0.04 2,396.8-84.17
43 Furskins and artificial fur; manufactures thereof 72.8 0.01 13.0460.75
44 Wood and articles of wood; wood charcoal 1,394.0 0.13 324.1330.07
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 731.0 0.07 2,980.4-75.47
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 1,563.3 0.15 12,760.2-87.75
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 198.2 0.02 214.4-7.59
50 Silk 8.0 0.00 0.0
52 Cotton 980.8 0.09 1,805.5-45.68
54 Man-made filaments 0.0 0.00 135.9-100.00
55 Man-made staple fibers 74.6 0.01 86.2-13.45
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 51.5 0.00 922.0-94.41
57 Carpets and other textile floor coverings 81.9 0.01 106.0-22.71
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 5.6 0.00 195.3-97.12
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 750.4 0.07 1,529.3-50.93
60 Knitted or crocheted fabrics 0.0 0.00 40.1-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 319.8 0.03 2,718.0-88.23
62 Articles of apparel and clothing accessories, not knitted or crocheted 2,660.2 0.25 2,106.526.28
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 164.5 0.02 373.5-55.95
64 Footwear, gaiters and the like; parts of such articles 166.5 0.02 2,177.3-92.35
65 Headgear and parts thereof 94.1 0.01 182.8-48.53
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 5.1 0.00 201.1-97.48
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 708.9 0.07 4,080.8-82.63
69 Ceramic products 1,434.1 0.13 2,284.2-37.22
70 Glass and glassware 277.4 0.03 409.6-32.28
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 810.4 0.08 310.5160.95
72 Iron and steel 1,237.2 0.11 7,266.1-82.97
73 Articles of iron or steel 25,609.5 2.38 49,028.2-47.77
74 Copper and articles thereof 218.6 0.02 834.9-73.82
75 Nickel and articles thereof 307.9 0.03 393.5-21.75
76 Aluminum and articles thereof 1,406.7 0.13 2,815.4-50.04
78 Lead and articles thereof 53.1 0.00 2.81,776.33
79 Zinc and articles thereof 1,078.8 0.10 104.2935.53
80 Tin and articles thereof 266.4 0.02 330.4-19.36
81 Other base metals; cermets; articles thereof 238.8 0.02 192.624.01
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 2,305.8 0.21 12,738.8-81.90
83 Miscellaneous articles of base metal 553.7 0.05 2,696.8-79.47
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 126,290.0 11.72 321,519.9-60.72
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 61,636.4 5.72 110,078.7-44.01
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 279.0 0.03 1,546.4-81.96
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 23,912.4 2.22 65,524.2-63.51
88 Aircraft, spacecraft, and parts thereof 38,332.4 3.56 25,039.153.09
89 Ships, boats and floating structures 9,306.8 0.86 2,464.1277.70
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 24,622.0 2.29 52,710.3-53.29
91 Clocks and watches and parts thereof 7,726.6 0.72 5,045.553.14
92 Musical instruments; parts and accessories of such articles 8.5 0.00 2.6228.83
93 Arms and ammunition; parts and accessories thereof 0.0 0.00 60.4-100.00
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 6,500.7 0.60 13,121.8-50.46
95 Toys, games and sports requisites; parts and accessories thereof 2,059.2 0.19 2,166.6-4.96
96 Miscellaneous manufactured articles 2,388.4 0.22 2,850.6-16.21
97 Works of art, collectors’ pieces and antiques 171.8 0.02 107.260.21

US Imports from Venezuela

The major share of US imports from Venezuela in the 1st quarter of 2017 (and in the 1st quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 95.11% of US total imports from Venezuela (94.50% in the 1st quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 2.04% of US total imports from Venezuela (1.68% in the 1st quarter of 2016);
  • Chemical products (HS codes 28-40) - 1.90% of US total imports from Venezuela (2.12% in the 1st quarter of 2016).

The largest gains in US imports from Venezuela in the 1st quarter of 2017 over the 1st quarter 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 $1,603.8 million;
  • Aluminum and articles thereof (HS code 76) - an increase of $45.3 million;
  • Organic chemicals (HS code 29) - an increase of $25.6 million.

The largest declines in US imports from Venezuela in the 1st quarter of 2017 over the 1st quarter of 2016 were recorded for the following product groups:

  • No product groups with a substantial decrease.
US imports from Venezuela in the 1st quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q1 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q1 2016
(USD thousand)
Change
in Q1 2017
over Q1 2016
(%)
01 Live animals 8.5 0.00 52.7-83.95
03 Fish and crustaceans, molluscs and other aquatic invertebrates 6,237.5 0.17 5,452.714.39
05 Products of animal origin, not elsewhere specified or included 95.3 0.00 215.1-55.71
08 Edible fruit and nuts; peel of citrus fruit or melons 55.0 0.00 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 516.9 0.01 0.0
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 8,605.0 0.23 8,393.32.52
17 Sugars and sugar confectionery 0.0 0.00 14.4-100.00
18 Cocoa and cocoa preparations 807.3 0.02 1,246.8-35.25
19 Preparations of cereals, flour, starch or milk; bakers’ wares 6.3 0.00 37.9-83.33
20 Preparations of vegetables, fruit, nuts or other parts of plants 7.4 0.00 0.0
21 Miscellaneous edible preparations 0.0 0.00 30.8-100.00
22 Beverages, spirits and vinegar 1,286.2 0.03 555.0131.76
23 Residues and waste from the food industries; prepared animal feed 35.6 0.00 29.919.10
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 465.4 0.01 822.6-43.42
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 3,577,543.2 95.10 1,973,755.681.26
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 5,221.8 0.14 6,216.4-16.00
29 Organic chemicals 57,587.1 1.53 32,025.979.81
31 Fertilizers 6,945.8 0.18 4,576.451.77
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 15.7 0.00 5.2204.95
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 687.2 0.02 298.8129.95
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 55.7 0.00 21.5159.63
38 Miscellaneous chemical products 46.0 0.00 68.7-33.01
39 Plastics and articles thereof 866.8 0.02 1,074.8-19.35
40 Rubber and articles thereof 0.0 0.00 91.8-100.00
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 39.2 0.00 0.57,814.55
44 Wood and articles of wood; wood charcoal 321.1 0.01 147.0118.47
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 1,645.9 0.04 0.0
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 119.0 0.00 5.62,029.33
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 64.0 0.00 33.193.39
61 Articles of apparel and clothing accessories, knitted or crocheted 2.9 0.00 0.0
62 Articles of apparel and clothing accessories, not knitted or crocheted 1.9 0.00 0.3518.33
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 32.9 0.00 8.1307.50
64 Footwear, gaiters and the like; parts of such articles 44.3 0.00 12.1266.56
65 Headgear and parts thereof 6.5 0.00 15.2-57.32
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 426.6 0.01 439.6-2.95
69 Ceramic products 22.9 0.00 115.2-80.14
70 Glass and glassware 64.1 0.00 1,716.6-96.26
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 1,025.6 0.03 975.95.09
72 Iron and steel 3,839.6 0.10 13,668.3-71.91
73 Articles of iron or steel 3.8 0.00 0.0
74 Copper and articles thereof 4,282.4 0.11 363.51,078.08
76 Aluminum and articles thereof 65,402.4 1.74 20,082.4225.67
78 Lead and articles thereof 3,059.9 0.08 1,033.2196.16
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 20.416.89
83 Miscellaneous articles of base metal 14.3 0.00 15.9-10.11
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 404.4 0.01 112.2260.47
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 4,836.3 0.13 4,974.5-2.78
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 209.3 0.01 106.995.73
88 Aircraft, spacecraft, and parts thereof 48.4 0.00 60.9-20.57
89 Ships, boats and floating structures 172.0 0.00 153.012.42
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 325.3 0.01 197.065.14
92 Musical instruments; parts and accessories of such articles 5.9 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 80.2 0.00 37.4114.57
95 Toys, games and sports requisites; parts and accessories thereof 25.7 0.00 4.1531.71
96 Miscellaneous manufactured articles 18.0 0.00 12.841.32
97 Works of art, collectors’ pieces and antiques 3,166.9 0.08 212.31,391.64
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce