Exports in Venezuela

Venezuela Exports | Economic News & Forecasts

Venezuela - Exports

The economy seemingly continued to expand in the first quarter of this year, after GDP likely began to timidly recover from years of recession in H2 2021. Oil production rose for the third consecutive quarter in Q1, according to secondary sources. This, coupled with notably higher oil prices, will have sustained activity. Moreover, the economic situation should be benefiting from some free-market oriented reforms. Moving to this quarter, news reports show somewhat higher oil production in April, while they also reveal that the country has begun importing heavy crude from Iran as part of a swap agreement between the two countries. That said, oil exports dropped in April over the previous month, due to poor oil quality and a lack of upgrading capacity. Moreover, in the same month, electricity cuts worsened in the western state of Táchira, seemingly hitting manufacturing production.

Venezuela - Exports Data

2015   2016   2017   2018   2019  
Exports (USD billion)37.2  27.4  34.0  33.7  -     

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Venezuela Facts

Value Change Date
Bond Yield5.500.0 %Aug 19
Exchange Rate248,8320.0 %Aug 17

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