The largest Export From Venezuela

Top 10 export categories in 2023–2024, with 2023 values and updated context:

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🟠 Venezuela’s Top 10 Export Categories (approx. 2023)

Rank	Category	Value (≈ USD)	Share of Total
1️⃣	Mineral fuels including oil & gas	$4.7 B	~63 % en.wikipedia.org+13worldstopexports.com+13eximtradedata.com+13
2️⃣	Iron & steel	$642 M	8.6 %
3️⃣	Organic chemicals	$412 M	5.5 %
4️⃣	Fish & aquatic invertebrates	$397 M	5.3 %
5️⃣	Aluminum & its articles	$259 M	3.5 %
6️⃣	Fertilizers (nitrogen & others)	$256 M	3.4 %
7️⃣	Ores, slag & ash	$113 M	1.5 %
8️⃣	Copper & its articles	$111 M	1.5 %
9️⃣	Beverages & vinegar	$77 M	1 %
🔟	Electrical machinery & equipment	$75 M	1 %

Together, these categories made up 94 % of Venezuela’s exports in 2023 statista.com+10worldstopexports.com+10tradeimex.in+10.

🔍 Key Insights for 2024

Fossil Fuels Dominate
- Venezuela displaced ~772,000 bpd of oil exports in 2024—a 10.5 % increase year-on-year reddit.comsupplychainreport.org+4hydrocarbonprocessing.com+4reddit.com+4.
- Primary buyers: China, USA, India, Europe, Cuba .
- In May 2025, oil exports averaged 779,000 bpd, with China receiving ~584,000 bpd, compensating for reduced U.S./European flows reuters.com.
Non-Hydrocarbons Move Up
- Iron and steel stays the top non-fuel exporter (~$642 M).
- Organic chemicals (e.g., acyclic alcohols, methanol) around $412 M.
- Fish exports reached ~$397 M—lobsters and crustaceans are key components.
- Aluminum, fertilizers, ores/slag, copper, beverages, and electrical machinery account for the rest.

🔮 Outlook

Oil remains Venezuela’s lifeline, responding to shifting sanctions and export licenses tradeimex.in+1tradedaas.com+1eximtradedata.com+4worldstopexports.com+4tradeimex.in+4supplychainreport.org+7reuters.com+7apnews.com+7.
Non-fuel diversification is limited but stable, with steady exports in steel, chemicals, fish, and fertilizers.
Growth constraints include infrastructure decay, political instability, and sanctions—though some sectors (e.g., fishing, metals) show export resilience.

📌 Would you like a deeper dive into any category—such as iron and steel, organic chemicals, fish exports, or oil export trends/partners? Also, let me know if you’d prefer a comparison with 2022 or projections for 2025.

Mineral fuels including oil & gas

🛢️ 1. Overall Export Value & Share

Mineral fuels (oil, gas, refined petroleum) were the largest export category, with ~US 4.7 billion in 2023, accounting for 62.6 % of the nation’s total exports worldstopexports.com.
- This marked a 277 % increase from 2022, making it the fastest-growing export category worldstopexports.com.

🚢 2. Crude Oil & Refined Petroleum

Average exports in 2024 reached ~779,000 barrels per day (b/d), up from ~772,000 in 2023—a 10.5% annual increase hydrocarbonprocessing.com+9hydrocarbonprocessing.com+9reuters.com+9.
Major Destinations:
- China: now the top importer, receiving around 584,000 bpd in May 2025 tradingeconomics.com+2reuters.com+2es.wikipedia.org+2.
- United States: ~140,000 bpd in May 2025 bitumenmag.com+5reuters.com+5hydrocarbonprocessing.com+5.
Despite U.S. license revocations, Venezuela maintained export levels through Asia rerouting and ship-to-ship transfers apnews.com+3reuters.com+3nypost.com+3.

🔥 3. Petroleum Byproducts & Petrochemicals

In May 2025 alone, around 291,000 metric tons of oil byproducts and petrochemicals were exported reddit.com+3reuters.com+3hydrocarbonprocessing.com+3.
Exports include petroleum coke, heavy naphtha, and refined fuels, shipped under swap deals and intermediate trading arrangements reuters.com+1hydrocarbonprocessing.com+1.

🛳️ 4. LNG & Natural Gas

Unlike some oil exporters, Venezuela’s LNG and pipeline gas exports are minimal, with primary focus on traditional petroleum products.
Natural gas mostly supports domestic needs and local petrochemical activity.

⛽ 5. Trends & Market Shifts

November 2024 saw exports climb to nearly 1 million bpd, driven by higher sales to Asia and U.S. license flexibility reuters.com+15hydrocarbonprocessing.com+15bitumenmag.com+15.
The shift away from U.S. and Europe was balanced with ship-to-ship Chinese rebranding (e.g., “Brazilian crude” label to bypass sanctions) reuters.com+1investing.com+1.
However, renewed or tightened U.S. sanctions could significantly reduce oil export revenue, which forms about 85% of government income .

🔮 6. Outlook for 2025–2026

Venezuela averages ~779,000 bpd of crude + products in May 2025 reuters.com.
The country remains heavily reliant on oil exports amid production constraints, sanctions, and domestic instability.
Asia (especially China) is the primary hedge against Western restrictions.
Any shift in U.S. licensing policy or trade restrictions could significantly impact export levels and state revenues .

✅ Summary

Category: Mineral fuels (crude + refined petroleum, petrochemicals)
Export Value: Approx. US 4.7 billion (2023); 62.6% of total exports
Volume: ~779,000 bpd (May 2025)
Top Destinations: China, U.S., and Asia via ship-to-ship workarounds
Key Risks: U.S. sanctions, domestic production capacity, reliance on oil revenue

Iron & steel

In 2023–2024, iron & steel was Venezuela’s second-largest non-fuel export category, amounting to approximately USD 642 million, or about 8.6% of the country’s total exports wits.worldbank.org+5worldstopexports.com+5oec.world+5.

⚙️ Breakdown of Iron & Steel Exports

Total Export Value: ~USD 642 million in 2023, maintaining its position just behind mineral fuels worldstopexports.com.
Key Product Segments:
- Iron or steel scrap formed a significant part of exports, representing ~5.6% of total export value en.wikipedia.org+12worldstopexports.com+12wits.worldbank.org+12.
- “Iron reductions” (e.g., sponge iron) reached USD 162 million in 2022, mainly sold to Turkey, China, Germany, Portugal, and Spain oec.world.
- Iron and steel articles (e.g., coils, wire rods, rivets, chain) comprised around USD 5 million in exports, with notable markets in Colombia, the U.S., and Thailand en.wikipedia.org+3oec.world+3data.un.org+3.

🏭 Industry Conditions & Infrastructure

SIDOR (Siderúrgica de Orinoco) is Venezuela’s main steel producer—historically a major player—but operations have sharply declined since 2019 due to power shortages and aging infrastructure en.wikipedia.org+1es.wikipedia.org+1.
Sidetur and Sivensa control the country’s rebar, wire rod, and billets production, though capacity remains largely dormant due to nationalization and underinvestment tradingeconomics.com+2en.wikipedia.org+2en.wikipedia.org+2.

📉 Trends & Structural Challenges

Export Decline: Iron & steel exports are well below historical peaks. Venezuela was once a top HBI exporter (~7 Mt in 2008), but that dropped below 0.5 Mt by 2021 fastmarkets.com+1fastmarkets.com+1.
Production Issues: Industrial capacity has shrunk due to inconsistent energy supply, deteriorating machinery, and lack of foreign investment reddit.com+11fastmarkets.com+11en.wikipedia.org+11.

🔮 Outlook

Near-Term: Expect limited growth unless there is substantial investment to revive infrastructure at SIDOR and Sidetur.
Long-Term: Robust export recovery would depend on addressing power reliability, modernizing plants, and reopening international partnerships for equipment and financing.

✅ Summary

Export Value: USD 642 million (2023)
Main Export Types: Scrap (~5.6% of total exports), sponge iron (~USD 162 M), and steel articles (~USD 5 M)
Industry Status: Significant decline from past capacity levels, especially with SIDOR offline
Key Markets: Turkey, China, U.S., Germany, Colombia, Thailand
Challenges: Energy shortages, aging plants, funding shortages

Organic chemicals

📦 Export Volume & Value

Export Value (2022):
- Venezuela exported approximately USD 427 million worth of organic chemicals thetradevision.com+8oec.world+8tradeimex.in+8.
2023 Estimate:
- Total rose to around USD 412 million, accounting for 5.5% of the country’s exports .

🌍 Major Export Destinations

Brazil: ~$105 million
Netherlands: ~$84.5 million
United States: ~$83.6 million
China: ~$75.5 million
India: ~$32.5 million oec.world

In 2024, U.S. imports alone reached approximately USD 53.9 million, mainly alkylated alcohols and related compounds tradingeconomics.com+1tradingeconomics.com+1.

🧬 Product Types

This category includes organic intermediates such as:
- Alcohols (e.g., acyclic alcohols)
- Halogenated, sulfonated, and nitrated derivatives
- Various organic solvents and synthetic chemicals id.tradingeconomics.com+8tradingeconomics.com+8tradingeconomics.com+8.

Many are used in industrial manufacturing, pharmaceuticals, and solvents industries.

📈 Trends & Insights

Net Exporter: Venezuela exported significantly more than it imported (~$284 million surplus in 2022) tradingeconomics.com+15oec.world+15tradeimex.in+15.
Diversification: While still minor compared to mineral fuels, organic chemicals rank above iron & steel, fish, and aluminum in export value id.tradingeconomics.com.
Resilience under Sanctions: Despite oil-sector sanctions, petrochemical infrastructure (e.g., Pequiven–Metor joint ventures) have continued to export methanol and other intermediates—evidenced by shipments to the U.S. in 2021 reddit.com+1reddit.com+1.

✅ Summary

2022 exports: ~USD 427 M;
2023: ~USD 412 M (≈5.5% of total exports);
Key markets: Brazil, Netherlands, U.S., China, India; U.S. alone imported ~$54 M in 2024;
Main products: Industrial alcohols, solvents, derivatives;
Strategic note: Stable performance adds valuable diversification beyond oil.

Fish & aquatic invertebrates

🐟 export Performance

1. Crustaceans, Molluscs & Aquatic Invertebrates (prepared/preserved)

2022 Value: USD 84 million (up from USD 42 million in 2019, a CAGR of 24%) reddit.com+3tradingeconomics.com+3reddit.com+3.
Main Market: The United States, importing 4,600 tonnes in 2022 indexbox.io.

2. Raw/Frozen Fish & Invertebrates

2024 Spain Imports: USD 33.3 million from Venezuela:
- USD 32.2 million in crustaceans,
- USD 1.05 million in live molluscs/invertebrates en.wikipedia.org+15tradingeconomics.com+15oec.world+15.
2023 U.S. Imports: 704 tonnes of processed crustaceans/molluscs from Venezuela .

3. Sector Outlook

Exports grew in 2023, with over 100 tons of lobster, scabbardfish, and jellyfish shipped to the U.S., China, South Korea, Aruba, and Curaçao indexbox.io+7telesurenglish.net+7es.wikipedia.org+7.
Aquaculture output: Government aims to hit 600,000 tons of shrimp production by 2030, with 60% destined for China .
Domestic production (2022–2023):
- Shrimp (~39,000 tonnes), swordfish (~2,640 t), crab (~6,080 t), macroalgae (~681 t), red snapper (~144 t), croaker (~489 t), etc. es.wikipedia.org.

4. Export Destinations (Raw Product)

United States, Colombia, Ecuador, Korea, Malaysia, Canada, and Dominican Republic stand out as prominent buyers of Venezuelan raw/frozen fish (~USD 8.6M to U.S.; USD 4.8M to Korea; USD 2.3M to Malaysia) wits.worldbank.org.

✅ Summary

Prepared seafood exports: ~$84 M (2022; rising trend)
Raw/frozen seafood exports: ~USD 33 M to Spain (2024) + USD 8.6 M to U.S. (2023)
Species: lobster, shrimp, crab, scabbardfish, jellyfish, etc.
Growth drivers: organized fishing councils, expanding shrimp aquaculture targeted at China and global markets wits.worldbank.org+8indexbox.io+8trendeconomy.com+8telesurenglish.net+1reddit.com+1.
Outlook: Steady increase expected, backed by ambitious shrimp production goals and aquaculture initiatives.

Aluminum & its articles

📊 Export Value & Volume

Total Exports (2023): Approx. USD 258.6 million, representing 3.5% of Venezuela’s export portfolio trendeconomy.com+3worldstopexports.com+3tradeimex.in+3.
Export Growth (2023‑2024):
- From Mar 2023 to Feb 2024, 349 shipments of aluminum were recorded—a 66% increase year-over-year volza.com.
- Aluminum ingots saw an impressive 1 000% surge in January 2024 vs January 2023 reddit.com+2volza.com+2reddit.com+2.

🌍 Key Export Destinations

India, Brazil, and the United States are top buyers of Venezuelan aluminum ingots volza.com.
According to COMTRADE (2023), China supplied Venezuela ~$24.7M worth of various aluminum items, including sheets, foil, and structural parts reddit.com+7tradingeconomics.com+7wits.worldbank.org+7.
U.S. exports to Venezuela include aluminum foil, household articles, plates/sheets, structural parts, etc., totaling USD 1.68 million in 2024 tradingeconomics.com.

⚙️ Export Composition & Pricing

Variety of products: ingots, sheets, foil (<2 mm), structural parts, household utensils.
Pricing: In 2023, the average export price was USD 2,696/ton, down from its 2022 high due to a global price correction — though still significantly elevated .

📈 Performance Highlights

Export rebound: Record shipments and higher volumes indicate a revitalization of Venezuela’s aluminum export capacity .
Strategic focus: The growth in ingots suggests emphasis on bulk semi-finished exports, targeting industrial buyers globally.

✅ Summary

2023 Exports: USD 258.6M (3.5% of total exports)
2024 Shipment Growth: 349 shipments, up 66%
Export Price (2023): ~$2,700/ton
Top Markets: India, Brazil, U.S.; also imports from China
Export Mostly: Aluminum ingots, sheets, foils, structural parts

Fertilizers (nitrogen & others)

🚜 1. Export Value & Volume

2022: Venezuela exported USD 171 million in fertilizers, primarily nitrogen-based, with a net trade surplus of $144 million (exports of $171M vs imports of $27.5M) reddit.com+4tradingeconomics.com+4reddit.com+4oec.world.
2023–24: While detailed data is scarce, IndexBox reports Venezuela ranked 2nd in Latin America for nitrogenous fertilizer exports, with around 526,000 tonnes worth approximately USD 185 million in 2024 .

🧪 2. Main Products

Primarily urea, ammonia, and NPK blends—with urea accounting for more than half of export tonnage (~1.5 Mt regionally) en.wikipedia.org.
The state-owned Fertinitro (formerly FertiNitro) produces approximately 1.5 million tonnes of urea per year, making it Venezuela’s leading fertilizer producer reddit.com+5en.wikipedia.org+5es.wikipedia.org+5.

🌍 3. Top Export Destinations

As of 2022:
- Brazil: USD 141 M
- Colombia: USD 15M
- Guyana: USD 12M
- Smaller shipments to Uruguay and Italy reddit.comoec.world.
2023–24 shipments to the U.S. also occurred, though specific values remain unclear .
For mixed NPK fertilizers, major buyers were Colombia (~1129 t) and Brazil (~764 t) in 2022 reddit.com+4indexbox.io+4indexbox.io+4.

📈 4. Trends & Context

Venezuela was a net exporter: only USD 27M in fertilizer imports in 2022 reddit.com.
Regional context: In 2024, Latin America saw 2.8 million tonnes of nitrogenous fertilizer exports (−19% from 2022), with Venezuela holding about 19% share indexbox.io+13indexbox.io+13tradingeconomics.com+13.
Production relies heavily on natural gas, the key feedstock; Fertinitro alone can produce daily 4,400 t of urea from an ammonia capacity of 3,600 t venezuelanalysis.com+2es.wikipedia.org+2en.wikipedia.org+2.

✅ Summary

Metric	Approximate Value
Export Value (2022)	USD 171 million
Export Value (2024 est.)	USD 185 million
Export Volume (2024 est.)	~526,000 tonnes of N-fertilizer
Main Products	Urea, ammonia, NPK blends
Top Destinations	Brazil, Colombia, Guyana (and others)
Net Export Position	Yes (exports > imports)

⛏️ Venezuela’s “Ores, Slag & Ash” Exports

📊 Export Value

2013 baseline data shows exports of around USD 266 million under this category reddit.com+15id.tradingeconomics.com+15trendeconomy.com+15.
Recent trade flows are much smaller, primarily involving specialized products like tin ores being imported by countries like Spain (~USD 189 K in 2022) tradingeconomics.com.

🧭 Recent Trends

No comprehensive recent data specific to Venezuela post-2013, suggesting that overall exports in this category have decreased or become more fragmented.
Small volumes continue in niche streams (e.g., tin ore exports to Spain), but do not reflect anywhere near the $266 million level seen over a decade ago data.un.org+8id.tradingeconomics.com+8reddit.com+8reddit.com.

✅ Summary & Context

Attribute	Details
Value (2013)	~USD 266 million
Recent volume	Small, niche shipments (e.g., tin ore to Spain ~$189 K in 2022)
Trend	Likely a sustained decline or shift to sporadic exports post-2013

📦 Export Value & Ranking

2023 Export Value: USD 111.3 million, making copper the 8th-largest export category (about 1.5% of total exports) indexbox.io+3worldstopexports.com+3tradingeconomics.com+3tradingeconomics.com+1wits.worldbank.org+1.

🧭 Export Composition

The category includes:
- Copper ores & concentrates
- Refined copper (e.g. unwrought sheets, ingots)
- Copper scrap, tubes, pipes, wire, and other copper articles

🌍 Destinations & Volumes

China is the main importer of Venezuelan refined copper, with ~USD 18 million in exports in 2022 wits.worldbank.orgtradingeconomics.com.
United States imported around USD 831,000 of copper products in 2023, mainly:
- Scrap: USD 628 K
- Tubes/pipes: USD 204 K reddit.com+15tradingeconomics.com+15wits.worldbank.org+15.

📈 Pricing & Trends

Threaded copper articles (e.g., rods) were priced around USD 36,000/ton in 2022, largely shipped to Panama, though export volumes are small (~USD 72) indexbox.io.
Refined copper exports totaled USD 18.3 million in 2022, with China as the primary buyer reddit.com+9oec.world+9worldstopexports.com+9.

📉 Production Context

Venezuela’s copper exports are modest compared to top global producers like Chile and Peru.
Domestic copper production (e.g., from Aroa region) is limited in recent decades, with no large-scale mining operations currently active en.wikipedia.org.

✅ Summary Table

Metric	Value / Description
2023 Export Value	USD 111.3 million (~1.5% of exports)
Main Product Types	Copper ore, refined copper, scrap, pipes
Top Market	China (~USD 18 M refined copper)
US Imports 2023	USD 831 K in scrap & tubes
Unit Prices	~$36,000/ton for threaded rods in 2022
Capacity Context	Small-scale extraction, limited output

Venezuela’s copper exports represent a modest but stable diversification beyond oil and gas, primarily targeting China and small-scale U.S. markets. Let me know if you’d like to explore specific product trends, export destinations, or compare this to other Venezuelan industrial exports like fertilizers or aluminum.

Beverages & vinegar

🍹 Beverages, Spirits & Vinegar (HS 22)

📊 Export Volume & Value

In 2013, this category reached US $13.3 million in exports reddit.com+10tradingeconomics.com+10tradingeconomics.com+10.
As of the latest data (2025), export levels remain in the low‑tens of millions USD, suggesting modest scale relative to major export categories.

🍾 Vinegar Exports

Highly minimal:
- In 2022, just around 16 tonnes were exported, valued at approximately $5,300 .
- Main recipients were Aruba, Dominican Republic, and Colombia trendeconomy.com+5indexbox.io+5indexbox.io+5.
In 2021, EU trade data listed Venezuela exporting about 136,000 liters of vinegar to the European Union en.wikipedia.org+14wits.worldbank.org+14oec.world+14.

🥃 Spirits & Other Beverages

Exports include alcoholic beverages and non‑alcoholic drinks, such as ethyl alcohol, beer, and flavored waters directed to countries like the U.S. and Italy.
- For example, in 2013, exports to the United States totaled roughly $480,000 en.wikipedia.org+1en.wikipedia.org+1.

✅ Summary

This category plays a minor role in Venezuela’s export economy, far smaller than hydrocarbons, metals, or agricultural goods.
Vinegar exports are negligible (<$10K), while beverages and spirits together contribute several million USD annually.
These products reflect a small-scale, niche export presence rather than a focus of national trade strategy.

Electrical machinery & equipment

⚡ 1. Trade Balance

Venezuela runs a significant trade deficit in this category:
- In 2023, noted a deficit of –US 1.2 billion, second only to machinery/computers tradedaas.com+6worldstopexports.com+6volza.com+6.
- Imports were roughly US 1.3 billion, dominated by phones, TVs, wires, heaters, switchgear, and other electrical devices .

📦 2. Exports

Electrical machinery & equipment exports (HS 85xx) brought in approximately US 75 million in 2023, ranking 10th among Venezuelan exports en.wikipedia.org+6worldstopexports.com+6indexbox.io+6.
Major exported items include:
- Electrical transformers
- Domestic appliances with electric motors
- Electric motors & generators
- Insulated cables and conductors
- Circuit protection apparatus (switches, breakers) tradingeconomics.com+1tradingeconomics.com+1tradingeconomics.com.

🌍 3. Key Import Sources

Venezuela’s electrical imports are led by:
- China, India, and the United States, comprising ~69% of total in 2023 reddit.com+3volza.com+3en.wikipedia.org+3.
- The U.S. contributed US 531 million in electrical export goods to Venezuela, including telephony apparatus, cable, transformers, heaters, and more .

🏗️ 4. Domestic Context & Challenges

Frequent national blackouts (since mid‑2024) have strained industrial capability and energy-dependent sectors .
Local production has declined: for example, a drop in electrical transformer output has been reported, though Venezuela still exports to countries like Cuba and the U.S., albeit at low volumes indexbox.io.

✅ Summary

Import-heavy sector: US 1.3 b shipped in vs only US 75 M exported.
Net deficit: around –US 1.2 b—ranked among top trade drains in 2023.
Exports are niche but notable: motors, transformers, wiring, and appliances.
Energy crisis and blackouts hamper both production and export potential.

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