US trade with Venezuela in the 4th quarter of 2017

Published or Updated: Jun 22, 2018

The report on US foreign trade in goods with Venezuela in the 4th quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Venezuela

In the 4th quarter of 2017, US trade with Venezuela was $3.7 billion, down 19.03% ($0.9 billion) from the 4th quarter of 2016.

US exports to Venezuela in the 4th quarter of 2017 were $1.0 billion, down 20.72% ($0.3 billion) from the 4th quarter of 2016.

US imports from Venezuela in the 4th quarter of 2017 were $2.7 billion, down 18.39% ($0.6 billion) from the 4th quarter of 2016.

US trade deficit with Venezuela in the 4th quarter of 2017 was $1.7 billion, a 16.94% decrease ($0.3 billion) over the 4th quarter of 2016.

Venezuela was the US 36th largest trading partner in the 4th quarter of 2017 (down from 32nd in the 4th quarter of 2016), accounting for 0.3508% of US total trade (down from 0.4699% in the 4th quarter of 2016).

Venezuela was the US 48th largest export market in the 4th quarter of 2017 (down from 40th in the 4th quarter of 2016), accounting for 0.2435% of US total exports (down from 0.3304% in the 4th quarter of 2016).

Venezuela was the US 31st largest supplier in the 4th quarter of 2017 (down from 27th in the 4th quarter of 2016), accounting for 0.4197% of US total imports (down from 0.5605% in the 4th quarter of 2016).

US Exports to Venezuela

The major share of US exports to Venezuela in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 61.57% of US total exports to Venezuela (45.57% in the 4th quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 18.14% of US total exports to Venezuela (24.12% in the 4th quarter of 2016);
  • Chemical products (HS codes 28-40) - 9.23% of US total exports to Venezuela (13.69% in the 4th quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 4.57% of US total exports to Venezuela (6.92% in the 4th quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 1.21% of US total exports to Venezuela (3.59% in the 4th quarter of 2016).

The largest gains in US exports to Venezuela in the 4th quarter of 2017 over the 4th 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 $42.5 million;
  • Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder (HS code 12) - an increase of $16.1 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 $3.2 million.

The largest declines in US exports to Venezuela in the 4th quarter of 2017 over the 4th 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 $66.0 million;
  • Cereals (HS code 10) - a decrease of $30.1 million;
  • Miscellaneous chemical products (HS code 38) - a decrease of $28.9 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $25.6 million;
  • Articles of iron or steel (HS code 73) - a decrease of $22.3 million;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $18.0 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $17.4 million;
  • Pharmaceutical products (HS code 30) - a decrease of $16.5 million;
  • Organic chemicals (HS code 29) - a decrease of $15.7 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 $12.9 million;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $9.1 million;
  • Plastics and articles thereof (HS code 39) - a decrease of $8.8 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 $5.6 million;
  • Iron and steel (HS code 72) - a decrease of $5.4 million;
  • Commodities not specified according to kind (HS code 99) - a decrease of $5.2 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $4.4 million;
  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - a decrease of $4.3 million;
  • Aluminum and articles thereof (HS code 76) - a decrease of $4.1 million;
  • Clocks and watches and parts thereof (HS code 91) - a decrease of $3.7 million;
  • Rubber and articles thereof (HS code 40) - a decrease of $3.6 million.
US exports to Venezuela in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q4 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q4 2016
(USD thousand)
Change
in Q4 2017
over Q4 2016
(%)
01 Live animals 26.6 0.00 115.9-77.06
02 Meat and edible meat offal 69.1 0.01 0.0
03 Fish and crustaceans, molluscs and other aquatic invertebrates 206.6 0.02 360.3-42.65
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 323.1 0.03 539.3-40.09
05 Products of animal origin, not elsewhere specified or included 31.6 0.00 0.0
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 0.0 0.00 409.4-100.00
07 Edible vegetables and certain roots and tubers 139.8 0.01 545.0-74.35
08 Edible fruit and nuts; peel of citrus fruit or melons 0.0 0.00 269.2-100.00
09 Coffee, tea, maté and spices 141.9 0.01 8.41,583.65
10 Cereals 11,493.6 1.16 41,596.3-72.37
11 Products of the milling industry; malt; starches; inulin; wheat gluten 46.0 0.00 106.8-56.87
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 19,673.1 1.98 3,590.6447.90
13 Lac; gums, resins and other vegetable saps and extracts 130.4 0.01 22.6477.37
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 0.0 0.00 4.5-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 125.6 0.01 18,124.6-99.31
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 45.7 0.00 90.6-49.56
17 Sugars and sugar confectionery 83.3 0.01 951.2-91.24
18 Cocoa and cocoa preparations 2.7 0.00 315.6-99.14
19 Preparations of cereals, flour, starch or milk; bakers’ wares 130.2 0.01 538.0-75.80
20 Preparations of vegetables, fruit, nuts or other parts of plants 119.2 0.01 997.3-88.04
21 Miscellaneous edible preparations 2,316.8 0.23 2,874.9-19.41
22 Beverages, spirits and vinegar 40.1 0.00 411.1-90.26
23 Residues and waste from the food industries; prepared animal feed 10,239.8 1.03 14,688.7-30.29
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 462.7 0.05 2,341.6-80.24
26 Ores, slag and ash 30.4 0.00 25.817.94
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 610,506.8 61.52 568,008.87.48
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 13,408.7 1.35 10,181.931.69
29 Organic chemicals 41,424.3 4.17 57,097.4-27.45
30 Pharmaceutical products 7,009.2 0.71 23,482.2-70.15
31 Fertilizers 3.4 0.00 2,083.4-99.84
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 1,750.3 0.18 6,072.9-71.18
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,325.2 0.13 3,139.5-57.79
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 1,848.7 0.19 1,691.89.27
35 Albuminoidal substances; modified starches; glues; enzymes 1,113.9 0.11 1,686.1-33.94
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 83.0 0.01 57.743.75
37 Photographic or cinematographic goods 95.5 0.01 919.5-89.62
38 Miscellaneous chemical products 6,990.2 0.70 35,920.6-80.54
39 Plastics and articles thereof 12,733.8 1.28 21,561.8-40.94
40 Rubber and articles thereof 3,833.9 0.39 7,401.3-48.20
41 Raw hides and skins (other than furskins) and leather 37.1 0.00 3.9856.42
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 493.6 0.05 2,513.2-80.36
43 Furskins and artificial fur; manufactures thereof 1,573.4 0.16 39.03,934.38
44 Wood and articles of wood; wood charcoal 445.1 0.04 1,139.9-60.95
45 Cork and articles of cork 0.0 0.00 2.7-100.00
47 Pulp of wood or of other fibrous cellulosic material; waste and scrap of paper or paperboard 580.5 0.06 916.3-36.65
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 4,642.0 0.47 2,462.488.51
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 217.1 0.02 1,434.8-84.87
52 Cotton 3,205.4 0.32 2,366.435.46
54 Man-made filaments 21.9 0.00 530.7-95.87
55 Man-made staple fibers 3.6 0.00 52.3-93.13
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 77.4 0.01 76.60.97
57 Carpets and other textile floor coverings 126.1 0.01 70.279.67
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 0.0 0.00 84.2-100.00
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 542.0 0.05 2,181.9-75.16
60 Knitted or crocheted fabrics 14.4 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 325.8 0.03 728.7-55.29
62 Articles of apparel and clothing accessories, not knitted or crocheted 1,724.6 0.17 1,420.821.38
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 56.8 0.01 462.5-87.73
64 Footwear, gaiters and the like; parts of such articles 1,521.3 0.15 1,938.4-21.52
65 Headgear and parts thereof 10.2 0.00 137.2-92.54
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 0.0 0.00 12.6-100.00
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 260.8 0.03 594.8-56.16
69 Ceramic products 3,296.5 0.33 1,025.5221.46
70 Glass and glassware 269.4 0.03 916.6-70.61
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 761.7 0.08 201.2278.52
72 Iron and steel 499.8 0.05 5,878.3-91.50
73 Articles of iron or steel 6,620.9 0.67 28,956.7-77.14
74 Copper and articles thereof 282.6 0.03 256.810.05
75 Nickel and articles thereof 10.7 0.00 89.8-88.08
76 Aluminum and articles thereof 747.1 0.08 4,809.9-84.47
78 Lead and articles thereof 18.9 0.00 7.3158.98
79 Zinc and articles thereof 352.3 0.04 222.358.49
80 Tin and articles thereof 363.6 0.04 143.3153.65
81 Other base metals; cermets; articles thereof 52.1 0.01 171.7-69.63
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 2,362.5 0.24 3,302.6-28.47
83 Miscellaneous articles of base metal 681.1 0.07 1,133.9-39.94
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 84,681.6 8.53 150,674.6-43.80
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 41,832.5 4.22 54,755.7-23.60
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 1,330.8 0.13 559.6137.80
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 26,340.1 2.65 51,973.1-49.32
88 Aircraft, spacecraft, and parts thereof 9,698.4 0.98 9,248.04.87
89 Ships, boats and floating structures 427.1 0.04 1,556.7-72.57
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 15,719.4 1.58 33,112.8-52.53
91 Clocks and watches and parts thereof 796.1 0.08 4,545.1-82.49
92 Musical instruments; parts and accessories of such articles 15.0 0.00 52.3-71.31
93 Arms and ammunition; parts and accessories thereof 805.9 0.08 40.01,912.40
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 5,287.7 0.53 10,887.5-51.43
95 Toys, games and sports requisites; parts and accessories thereof 2,987.3 0.30 12,103.1-75.32
96 Miscellaneous manufactured articles 1,863.5 0.19 2,144.0-13.08
97 Works of art, collectors’ pieces and antiques 117.8 0.01 38.7204.64
99 Commodities not specified according to kind 20,218.2 2.04 25,435.9-20.51

US Imports from Venezuela

The major share of US imports from Venezuela in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 93.64% of US total imports from Venezuela (95.48% in the 4th quarter of 2016);
  • Chemical products (HS codes 28-40) - 2.02% of US total imports from Venezuela (1.28% in the 4th quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 1.63% of US total imports from Venezuela (1.76% in the 4th quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 1.00% of US total imports from Venezuela (0.64% in the 4th quarter of 2016).

The largest gains in US imports from Venezuela in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin (HS code 71) - an increase of $11.1 million;
  • Organic chemicals (HS code 29) - an increase of $8.9 million.

The largest declines in US imports from Venezuela in the 4th quarter of 2017 over the 4th 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) - a decrease of $623.2 million;
  • Aluminum and articles thereof (HS code 76) - a decrease of $9.5 million.
US imports from Venezuela in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q4 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q4 2016
(USD thousand)
Change
in Q4 2017
over Q4 2016
(%)
01 Live animals 27.8 0.00 7.8257.88
03 Fish and crustaceans, molluscs and other aquatic invertebrates 13,047.0 0.49 11,380.814.64
05 Products of animal origin, not elsewhere specified or included 290.5 0.01 33.5767.90
08 Edible fruit and nuts; peel of citrus fruit or melons 46.3 0.00 0.0
11 Products of the milling industry; malt; starches; inulin; wheat gluten 20.3 0.00 0.0
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 0.0 0.00 12.3-100.00
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 9,137.5 0.34 6,900.332.42
17 Sugars and sugar confectionery 0.0 0.00 5.7-100.00
18 Cocoa and cocoa preparations 1,291.4 0.05 317.7306.54
19 Preparations of cereals, flour, starch or milk; bakers’ wares 32.5 0.00 128.0-74.63
20 Preparations of vegetables, fruit, nuts or other parts of plants 86.3 0.00 10.6713.66
21 Miscellaneous edible preparations 11.4 0.00 0.0
22 Beverages, spirits and vinegar 2,708.9 0.10 2,213.222.40
23 Residues and waste from the food industries; prepared animal feed 0.0 0.00 5.5-100.00
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 1,819.3 0.07 965.088.53
26 Ores, slag and ash 0.0 0.00 77.4-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 2,495,327.0 93.58 3,118,525.9-19.98
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 5,991.0 0.22 3,767.759.01
29 Organic chemicals 45,299.1 1.70 36,428.324.35
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 27.1 0.00 19.439.71
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 20.1 0.00 187.2-89.24
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 71.7 0.00 0.0
38 Miscellaneous chemical products 2.5 0.00 213.4-98.81
39 Plastics and articles thereof 2,481.2 0.09 1,131.9119.20
40 Rubber and articles thereof 9.8 0.00 157.7-93.80
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 8.3 0.00 0.0
44 Wood and articles of wood; wood charcoal 1,159.4 0.04 88.11,216.19
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 1,154.0 0.04 857.434.59
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 42.4 0.00 13.8207.93
52 Cotton 4.9 0.00 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0.0 0.00 35.6-100.00
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 5.5 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 8.6 0.00 9.2-6.68
62 Articles of apparel and clothing accessories, not knitted or crocheted 50.1 0.00 0.0
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 15.9 0.00 5.3199.30
64 Footwear, gaiters and the like; parts of such articles 40.8 0.00 0.0
65 Headgear and parts thereof 1.0 0.00 10.2-89.85
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 854.4 0.03 294.5190.14
69 Ceramic products 87.9 0.00 143.9-38.93
70 Glass and glassware 58.7 0.00 63.7-7.94
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 13,584.7 0.51 2,454.0453.57
72 Iron and steel 24.6 0.00 19.824.06
73 Articles of iron or steel 142.5 0.01 304.0-53.14
74 Copper and articles thereof 2,799.5 0.10 1,271.4120.19
76 Aluminum and articles thereof 40,252.3 1.51 49,799.6-19.17
78 Lead and articles thereof 167.6 0.01 5,886.8-97.15
83 Miscellaneous articles of base metal 74.9 0.00 247.1-69.68
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 280.0 0.01 1,369.8-79.56
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 12,016.5 0.45 10,394.215.61
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 376.7 0.01 211.877.89
88 Aircraft, spacecraft, and parts thereof 396.4 0.01 59.8562.55
89 Ships, boats and floating structures 380.6 0.01 216.375.99
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 134.3 0.01 38.7246.78
91 Clocks and watches and parts thereof 20.7 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 112.8 0.00 79.641.65
95 Toys, games and sports requisites; parts and accessories thereof 71.4 0.00 2.82,471.24
96 Miscellaneous manufactured articles 27.4 0.00 63.7-56.94
97 Works of art, collectors’ pieces and antiques 2,395.9 0.09 678.9252.93
99 Commodities not specified according to kind 12,137.3 0.46 10,235.818.58
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce