Trade relationship between Colombia and Venezuela is expected to reach 1.6 billion dollars in 2026
The goal is for Venezuela to recover GDP levels similar to those recorded in 2015. Photo: iStock
TL;DR
- Bilateral trade between Colombia and Venezuela historically surpassed $7 billion in 2008 but declined sharply due to political tensions and Venezuela's economic crisis.
- The economic contraction in Venezuela (2013-2019) and U.S. sanctions on PDVSA further damaged trade relations.
- Recent developments, including improved diplomatic relations under Gustavo Petro and the lifting of certain sanctions, have led to border reopenings and a trade resurgence.
- Bilateral trade exceeded $1 billion in 2025 and is projected to reach $1.5 to $1.6 billion in 2026.
- Key Colombian exports to Venezuela include food and beverages (27%), chemicals (22%), and plastic materials (12%).
- Key Venezuelan imports to Colombia are foundry, iron, and steel (39%), electrical apparatus and materials (23%), and paper and cardboard (15%).
- The number of companies exporting from Colombia to Venezuela grew by 84% from 2020 to 2025.