Venezuela Trade Balance | Economic News & Forecasts

Venezuela - Trade Balance

There is ample evidence that the Venezuelan economy remains in freefall and is strapped for cash as it heads toward the legislative elections scheduled for 6 December. Venezuela has resorted to sell its gold reserves in an effort to raise cash to pay USD 3.5 billion in bond payments and to fund import purchases as well. Latest available data show that the value of the Central Bank’s bullion holdings fell 28% in May compared to the previous year and international reserves are nearing a 12-year low of USD 15.2 billion. Furthermore, the IMF recently announced that Venezuela exchanged USD 460 million in October from its Special Drawing Rights (SDR) for hard currency for the third time this year. The Venezuelan government owes around USD 15.8 billion in debt payments that are due between November and the end of 2016. The dwindling of reserves raises questions as to how country will be able to meet its debt obligations in the following years and continue financing its external imbalances.

Venezuela - Trade Balance Data

2010  2011  2012  2013  2014  
Trade Balance (USD billion)27.2  46.0  38.0  35.9  -     

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Venezuela Trade Balance Chart

Venezuela Trade
Note: Trade balance in USD billion.
Source: Venezuela Central Bank and FocusEconomics calculations.

Venezuela Facts

Bond Yield5.500.0 %Nov 19
Exchange Rate6.300.0 %Nov 25
Stock Market13,098-0.38 %Nov 25

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