US trade with Venezuela in the first nine months of 2017

Published or Updated: Jun 22, 2018

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

US Trade with Venezuela

In the first nine months of 2017, US trade with Venezuela totaled $13.3 billion, up 8.85% ($1.1 billion) from the first nine months of 2016.

US exports to Venezuela in the first nine months of 2017 were $3.2 billion, down 20.64% ($0.8 billion) from the first nine months of 2016.

US imports from Venezuela in the first nine months of 2017 totaled $10.1 billion, up 23.30% ($1.9 billion) from the first nine months of 2016.

US trade deficit with Venezuela in the first nine months of 2017 was $6.9 billion, a 65.50% increase ($2.7 billion) over the first nine months of 2016.

Venezuela was the US 33rd largest trading partner in the first nine months of 2017 (just as in the first nine months of 2016), accounting for 0.4552% of US total trade (down from 0.4646% in the first nine months of 2016).

Venezuela was the US 46th largest export market in the first nine months of 2017 (down from 40th in the first nine months of 2016), accounting for 0.2791% of US total exports (down from 0.3785% in the first nine months of 2016).

Venezuela was the US 27th largest supplier in the first nine months of 2017 (up from 28th in the first nine months of 2016), accounting for 0.5683% of US total imports (up from 0.5229% in the first nine months of 2016).

US Exports to Venezuela

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

  • Mineral products (HS codes 25-27) - 44.40% of US total exports to Venezuela (28.38% in the first nine months of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 25.22% of US total exports to Venezuela (33.03% in the first nine months of 2016);
  • Chemical products (HS codes 28-40) - 11.72% of US total exports to Venezuela (14.89% in the first nine months of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 10.83% of US total exports to Venezuela (13.75% in the first nine months of 2016);
  • Metals and products from them (HS codes 72-83) - 3.05% of US total exports to Venezuela (4.17% in the first nine months of 2016).

The largest gains in US exports to Venezuela in the first nine months of 2017 over the first nine months 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 $269.7 million;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $12.9 million.

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

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $287.5 million;
  • Cereals (HS code 10) - a decrease of $156.9 million;
  • Organic chemicals (HS code 29) - a decrease of $119.4 million;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $105.5 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 $87.2 million;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $50.1 million;
  • Plastics and articles thereof (HS code 39) - a decrease of $44.9 million;
  • Articles of iron or steel (HS code 73) - a decrease of $33.0 million;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $32.6 million;
  • Pharmaceutical products (HS code 30) - a decrease of $30.3 million;
  • Commodities not specified according to kind (HS code 99) - a decrease of $22.8 million;
  • Miscellaneous chemical products (HS code 38) - a decrease of $16.3 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 $16.0 million;
  • Iron and steel (HS code 72) - a decrease of $15.9 million;
  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - a decrease of $13.1 million;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $11.7 million;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $11.7 million;
  • Rubber and articles thereof (HS code 40) - a decrease of $10.8 million.
US exports to Venezuela in the first nine months of 2017 by product groups
HS
code
Name of product group Value
of exports
in first 9 months 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in first 9 months 2016
(USD thousand)
Change
in first 9 months 2017
over first 9 months 2016
(%)
01 Live animals 270.8 0.01 327.0-17.20
02 Meat and edible meat offal 34.7 0.00 72.1-51.85
03 Fish and crustaceans, molluscs and other aquatic invertebrates 643.1 0.02 931.3-30.95
04 Dairy produce; birds eggs; natural honey; edible products of animal origin, not elsewhere specified or included 1,656.8 0.05 1,088.752.18
05 Products of animal origin, not elsewhere specified or included 106.0 0.00 109.8-3.42
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 72.6 0.00 0.0
07 Edible vegetables and certain roots and tubers 455.6 0.01 602.5-24.37
08 Edible fruit and nuts; peel of citrus fruit or melons 0.0 0.00 429.6-100.00
09 Coffee, tea, maté and spices 34.8 0.00 1,131.2-96.93
10 Cereals 195,461.8 6.15 352,351.0-44.53
11 Products of the milling industry; malt; starches; inulin; wheat gluten 881.6 0.03 699.526.03
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 22,370.9 0.70 24,826.9-9.89
13 Lac; gums, resins and other vegetable saps and extracts 539.4 0.02 1,921.1-71.92
14 Vegetable plaiting materials; vegetable products not elsewhere specified or included 137.3 0.00 30.2354.93
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 18,662.0 0.59 24,236.0-23.00
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 176.9 0.01 564.5-68.67
17 Sugars and sugar confectionery 854.5 0.03 3,065.2-72.12
18 Cocoa and cocoa preparations 522.2 0.02 432.220.81
19 Preparations of cereals, flour, starch or milk; bakers’ wares 1,040.7 0.03 3,430.6-69.66
20 Preparations of vegetables, fruit, nuts or other parts of plants 800.4 0.03 747.37.11
21 Miscellaneous edible preparations 7,550.1 0.24 8,945.4-15.60
22 Beverages, spirits and vinegar 120.1 0.00 251.6-52.25
23 Residues and waste from the food industries; prepared animal feed 91,753.7 2.89 124,360.8-26.22
24 Tobacco and manufactured tobacco substitutes 0.0 0.00 14.5-100.00
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 9,369.8 0.29 4,861.692.73
26 Ores, slag and ash 241.6 0.01 0.0
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,400,878.0 44.09 1,131,157.923.84
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 37,325.6 1.17 29,607.226.07
29 Organic chemicals 135,270.1 4.26 254,643.8-46.88
30 Pharmaceutical products 26,123.9 0.82 56,472.3-53.74
31 Fertilizers 11,186.6 0.35 8,447.432.43
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 11,849.1 0.37 24,920.0-52.45
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 5,203.1 0.16 7,643.0-31.92
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 19,163.6 0.60 11,380.368.39
35 Albuminoidal substances; modified starches; glues; enzymes 3,990.4 0.13 9,505.8-58.02
36 Explosives; pyrotechnic products; matches; pyrophoric alloys; certain combustible preparations 318.8 0.01 665.9-52.13
37 Photographic or cinematographic goods 3,482.8 0.11 2,525.537.90
38 Miscellaneous chemical products 70,515.6 2.22 86,834.5-18.79
39 Plastics and articles thereof 34,188.0 1.08 79,132.7-56.80
40 Rubber and articles thereof 13,733.8 0.43 24,512.1-43.97
41 Raw hides and skins (other than furskins) and leather 8.0 0.00 91.1-91.22
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 1,153.1 0.04 4,978.9-76.84
43 Furskins and artificial fur; manufactures thereof 106.8 0.00 763.0-86.00
44 Wood and articles of wood; wood charcoal 4,733.5 0.15 1,630.8190.26
45 Cork and articles of cork 48.6 0.00 4.11,092.16
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 2,028.3 0.06 4,622.7-56.12
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 7,832.6 0.25 19,569.9-59.98
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 620.9 0.02 1,229.9-49.52
50 Silk 76.7 0.00 29.5160.17
52 Cotton 2,324.9 0.07 3,633.6-36.02
53 Other vegetable textile fibers; paper yarn and woven fabric of paper yarn 59.1 0.00 17.9230.83
54 Man-made filaments 137.0 0.00 247.0-44.54
55 Man-made staple fibers 141.5 0.00 269.2-47.42
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 342.2 0.01 2,015.3-83.02
57 Carpets and other textile floor coverings 631.5 0.02 272.5131.73
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 17.6 0.00 232.3-92.42
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 1,713.5 0.05 4,616.4-62.88
60 Knitted or crocheted fabrics 143.0 0.00 168.8-15.25
61 Articles of apparel and clothing accessories, knitted or crocheted 977.6 0.03 3,733.8-73.82
62 Articles of apparel and clothing accessories, not knitted or crocheted 4,382.3 0.14 8,420.2-47.95
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 743.1 0.02 1,678.2-55.72
64 Footwear, gaiters and the like; parts of such articles 2,013.3 0.06 5,718.8-64.79
65 Headgear and parts thereof 269.1 0.01 376.0-28.44
66 Umbrellas, sun umbrellas, walking sticks, seatsticks, whips, riding-crops and parts thereof 29.8 0.00 32.0-6.91
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 7.7 0.00 218.1-96.48
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 3,847.8 0.12 6,173.0-37.67
69 Ceramic products 2,968.1 0.09 4,356.5-31.87
70 Glass and glassware 1,622.8 0.05 1,861.6-12.83
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 1,399.8 0.04 1,462.2-4.27
72 Iron and steel 4,206.9 0.13 20,146.2-79.12
73 Articles of iron or steel 67,036.5 2.11 100,049.0-33.00
74 Copper and articles thereof 1,045.1 0.03 4,216.0-75.21
75 Nickel and articles thereof 480.8 0.02 566.7-15.17
76 Aluminum and articles thereof 6,591.2 0.21 11,263.8-41.48
78 Lead and articles thereof 73.8 0.00 64.414.65
79 Zinc and articles thereof 1,532.2 0.05 379.2304.08
80 Tin and articles thereof 412.9 0.01 701.5-41.15
81 Other base metals; cermets; articles thereof 1,112.6 0.04 449.6147.45
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 7,878.5 0.25 19,616.2-59.84
83 Miscellaneous articles of base metal 6,591.8 0.21 9,561.3-31.06
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 429,850.2 13.53 717,363.0-40.08
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 146,754.4 4.62 233,992.4-37.28
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 2,942.4 0.09 2,551.915.31
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 84,158.8 2.65 189,622.8-55.62
88 Aircraft, spacecraft, and parts thereof 65,158.8 2.05 52,308.124.57
89 Ships, boats and floating structures 10,245.1 0.32 14,172.9-27.71
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 62,256.5 1.96 112,376.3-44.60
91 Clocks and watches and parts thereof 17,742.4 0.56 17,348.02.27
92 Musical instruments; parts and accessories of such articles 12.1 0.00 17.7-31.82
93 Arms and ammunition; parts and accessories thereof 34.9 0.00 2,401.1-98.55
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 18,087.9 0.57 34,082.1-46.93
95 Toys, games and sports requisites; parts and accessories thereof 3,215.7 0.10 5,026.3-36.02
96 Miscellaneous manufactured articles 3,530.9 0.11 5,672.5-37.75
97 Works of art, collectors’ pieces and antiques 3,610.7 0.11 272.21,226.31
99 Commodities not specified according to kind 65,107.8 2.05 87,876.8-25.91

US Imports from Venezuela

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

  • Mineral products (HS codes 25-27) - 94.76% of US total imports from Venezuela (95.53% in the first nine months of 2016);
  • Metals and products from them (HS codes 72-83) - 2.15% of US total imports from Venezuela (1.34% in the first nine months of 2016);
  • Chemical products (HS codes 28-40) - 1.73% of US total imports from Venezuela (1.61% in the first nine months of 2016).

The largest gains in US imports from Venezuela in the first nine months of 2017 over the first nine months 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 $1,742.2 million;
  • Aluminum and articles thereof (HS code 76) - an increase of $100.2 million;
  • Organic chemicals (HS code 29) - an increase of $37.6 million.

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

  • No product groups with a substantial decrease.
US imports from Venezuela in the first nine months of 2017 by product groups
HS
code
Name of product group Value
of imports
in first 9 months 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in first 9 months 2016
(USD thousand)
Change
in first 9 months 2017
over first 9 months 2016
(%)
01 Live animals 74.1 0.00 160.4-53.83
03 Fish and crustaceans, molluscs and other aquatic invertebrates 31,040.5 0.31 19,903.655.95
05 Products of animal origin, not elsewhere specified or included 425.7 0.00 337.126.28
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 103.4 0.00 0.0
10 Cereals 0.0 0.00 9.9-100.00
11 Products of the milling industry; malt; starches; inulin; wheat gluten 70.9 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 50.81,000.99
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 24,790.6 0.25 19,164.629.36
17 Sugars and sugar confectionery 0.0 0.00 14.4-100.00
18 Cocoa and cocoa preparations 4,736.6 0.05 2,573.084.08
19 Preparations of cereals, flour, starch or milk; bakers’ wares 6.3 0.00 117.9-94.64
20 Preparations of vegetables, fruit, nuts or other parts of plants 772.7 0.01 0.0
21 Miscellaneous edible preparations 0.0 0.00 49.0-100.00
22 Beverages, spirits and vinegar 3,739.8 0.04 3,074.521.64
23 Residues and waste from the food industries; prepared animal feed 87.7 0.00 101.0-13.13
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 1,886.2 0.02 1,816.63.83
26 Ores, slag and ash 49.6 0.00 1,514.3-96.72
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 9,546,232.1 94.74 7,804,005.222.32
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 29,555.9 0.29 25,044.918.01
29 Organic chemicals 133,121.5 1.32 95,514.039.37
30 Pharmaceutical products 0.0 0.00 4.5-100.00
31 Fertilizers 6,945.8 0.07 4,612.350.59
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 49.4 0.00 25.494.63
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,052.4 0.01 827.327.21
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 243.2 0.00 83.0193.23
38 Miscellaneous chemical products 62.6 0.00 921.6-93.20
39 Plastics and articles thereof 2,872.6 0.03 3,573.5-19.61
40 Rubber and articles thereof 147.2 0.00 620.2-76.27
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 41.3 0.00 30.236.61
44 Wood and articles of wood; wood charcoal 1,697.8 0.02 1,529.810.98
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 6,312.4 0.06 28.921,720.47
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 131.9 0.00 18.4617.58
54 Man-made filaments 0.0 0.00 0.3-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 137.8 0.00 94.346.07
57 Carpets and other textile floor coverings 0.0 0.00 38.0-100.00
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 0.0 0.00 45.8-100.00
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 2.7 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 3.3 0.00 3.30.76
62 Articles of apparel and clothing accessories, not knitted or crocheted 54.3 0.00 3.41,501.59
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 64.7 0.00 10.7505.96
64 Footwear, gaiters and the like; parts of such articles 67.0 0.00 40.366.10
65 Headgear and parts thereof 21.9 0.00 18.319.42
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 1,242.2 0.01 1,929.7-35.63
69 Ceramic products 219.9 0.00 363.5-39.49
70 Glass and glassware 306.5 0.00 3,591.0-91.47
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 9,042.4 0.09 5,801.755.86
72 Iron and steel 23,487.8 0.23 28,051.6-16.27
73 Articles of iron or steel 161.1 0.00 403.0-60.04
74 Copper and articles thereof 9,691.5 0.10 2,663.6263.85
75 Nickel and articles thereof 0.0 0.00 3.6-100.00
76 Aluminum and articles thereof 172,294.9 1.71 72,122.2138.89
78 Lead and articles thereof 10,591.9 0.11 5,575.489.98
79 Zinc and articles thereof 76.9 0.00 0.0
81 Other base metals; cermets; articles thereof 0.0 0.00 6.9-100.00
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 127.0 0.00 415.7-69.45
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,231.9 0.01 1,395.7-11.73
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 28,483.5 0.28 28,626.3-0.50
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 820.7 0.01 930.3-11.78
88 Aircraft, spacecraft, and parts thereof 122.1 0.00 158.8-23.13
89 Ships, boats and floating structures 929.7 0.01 412.9125.15
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 368.0 0.00 324.713.33
91 Clocks and watches and parts thereof 9.9 0.00 24.3-59.15
92 Musical instruments; parts and accessories of such articles 15.5 0.00 5.1203.89
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 121.1 0.00 90.134.45
95 Toys, games and sports requisites; parts and accessories thereof 45.5 0.00 29.056.92
96 Miscellaneous manufactured articles 53.6 0.00 93.2-42.47
97 Works of art, collectors’ pieces and antiques 4,681.1 0.05 4,744.3-1.33
99 Commodities not specified according to kind 15,236.3 0.15 27,486.4-44.57
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce