economy
May 6, 2026
Trade between Venezuela and the US grew 23% in the first quarter, reaching its best level since 2018
Trade between Venezuela and the United States reached a total of 3.292 billion dollars in the first quarter of 2026, an increase of 23%, reaching its best level since 2018, and representing half of everything negotiated last year, according to the latest figures published by the Bureau of Economic Analysis (BEA).
TL;DR
- Venezuela-US trade reached $3.292 billion in Q1 2026, a 23% increase, the best level since 2018.
- The trade rebound is attributed to the easing of sanctions and agreements following the US intervention on January 3rd.
- Oil is the primary driver, increasing both imports (diluents) and exports (crude and derivatives).
- Venezuelan imports from the US were $1.417 billion in Q1 2026, a 34% increase, the highest for this period since 2015.
- Diluents accounted for 57% of Venezuelan imports ($804 million), a 45% increase.
- Corn imports reached $142 million, a notable increase as no purchases were made in the previous year's Q1.
- Wheat imports increased by 148% to $43 million, and vehicle imports rose 74% to $36 million.
- Venezuelan exports totaled $1.875 billion in Q1 2026, a 15% increase, reaching their highest level since 2018.
- Crude oil sales accounted for $1.577 billion (84% of exports), an 8% increase.
- Non-traditional exports like coffee sales increased by 52% to $20 million, and gold sales reached $8 million.