Venezuela Trade, Exports and Imports Agreement

Imports in Venezuela are subject to customs duty, which is levied on the basis of the Andean Pact. The Andean Pact is a regional trade agreement between Venezuela, Bolivia, Columbia, Ecuador and Peru to setup a common external trade tariff structure. Transit duties are also applicable on certain goods, which include coffee, cocoa and cotton. Additionally, the Government of Venezuela has complete authority to levy export duties if it deems fit.

The US was, for a large portion of the first decade of the 21st century, Venezuelas biggest trading partner, accounting for as much as 60% of its exports. However, trade relations between the two nations have weakened gradually since Hugo Chavez was elected President. This was a result of Chvez's public friendship with Fidel Castro, leading to close trade ties with Cuba.

portant trade partners of Venezuela, according to the 2008 statistics published iny the CIA World Factbook, include:

Exports

US: 39.8%

The Netherlands: 7.6%

China: 4.6%

Major export commodities in Venezuela, besides petroleum and gas are:

Aluminum and bauxite

Steel

Chemicals

Agricultural products

Imports

US: 26.1%

Colombia: 12.6%

Brazil: 10.7%

China: 6.9%

Mexico: 4.8%

Major import commodities in Venezuela are machinery and equipment, construction materials and other raw materials, to support its domestic industries and increase exports.

Summary of Venezuela Trade, Exports and Imports

The position of Venezuelan trade looks favorable, taking into account the fact that it has been able to lower its reliance on the US for foreign investment. According to the CIA World Factbook, Venezuela had a trade surplus of $10.95 billion in 2009. President Hugo Chavezs trade policy, aligned with the goal of integration of Latin America, has helped to diversify the Venezuelan trade. A diversified export and import structure is not only strategically beneficial, it also helps to counter a global economic crisis more effectively.

Venezuela Exports 1992-2015 | Data | Chart | Calendar | Forecast | NewsExports in Venezuela decreased to 19057 USD Million in the third quarter of 2014 from 20780 USD Million in the second quarter of 2014. Exports in Venezuela averaged 11572.73 USD Million from 1992 until 2014, reaching an all time high of 30743 USD Million in the third quarter of 2008 and a record low of 2995 USD Million in the first quarter of 1992. Exports in Venezuela is reported by the Banco Central De Venezuela.

http://www.tradingeconomics.com/venezuela/exports

http://globaledge.msu.edu/countries/venezuela/tradestats

Venezuela[edit]Main article: Automotive industry in VenezuelaVenezuelan auto manufacturing is 36th largest worldwide and 4th largest in Latin America (after Brazil, Mexico, Argentina).In the 1970s and 1980s vehicle production was between 150200 thousand per year of mainly US-developed vehicles. Since 2014 the auto industry has collapsed, producing only 6,161 automobiles in the first part of the year.[58] Most companies have ceased operations due to the difficulty in obtaining dollar denominated auto parts using Venezuelan monopoly money.

IntroductionAutomotive Manufacturing in Venezuela industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2009-13, and forecast to 2018). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Venezuela automotive manufacturing market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights The automotive manufacturing industry comprises the production of trucks, passengers cars and motorcycles. The Venezuelan automotive manufacturing industry had total revenues of $1.3bn in 2013, representing a compound annual rate of change (CARC) of -7.0% between 2009 and 2013. Industry production volumes declined with a CARC of -10.5% between 2009 and 2013, to reach a total of 71.8 thousand units in 2013. The performance of the industry is forecast to accelerate, with an anticipated compound annual growth rate (CAGR) of 20.6% for the five-year period 2013 - 2018, which is expected to drive the industry to a value of $3.2bn by the end of 2018.

FeaturesSave time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the automotive manufacturing market in VenezuelaUse the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the automotive manufacturing market in VenezuelaLeading company profiles reveal details of key automotive manufacturing market players global operations and financial performanceAdd weight to presentations and pitches by understanding the future growth prospects of the Venezuela automotive manufacturing market with five year forecasts by both value and volumeMacroeconomic indicators provide insight into general trends within the Venezuela economy

Key Questions AnsweredWhat was the size of the Venezuela automotive manufacturing market by value in 2013?What will be the size of the Venezuela automotive manufacturing market in 2018?What factors are affecting the strength of competition in the Venezuela automotive manufacturing market?How has the market performed over the last five years?Who are the top competitiors in Venezuela's automotive manufacturing market?