Trade Balance in Venezuela

Venezuela Trade Balance | Economic News & Forecasts

Venezuela - Trade Balance

After a seemingly timid recovery in H2 2021 following years of recession, the economy appears to have continued growing in Q1 2022. Oil production averaged higher in the period than in the previous quarter, moving further away Q3 2020’s low. This, coupled with higher energy prices, likely underpinned the economy. Moving to Q2, solid oil output in April bodes well for activity. That said, secondary sources show that petrol exports plunged to the lowest level in 19 months in May due to repairs at the main oil port, calling for caution. Meanwhile, as a further sign of economic opening, in late May the largest state-owned bank announced that it would start offering shares in the local stock market. Moreover, the U.S. will allow two European energy companies to ship Venezuelan oil to Europe starting from July, to replace Russian crude.

Venezuela - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)3.9  11.0  22.0  20.9  -     

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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

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

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