Venezuela: Economy

https://atlas.media.mit.edu/en/profile/country/ven/

Venezuela is the 65th largest export economy in the world and the 85th most complex economy according to the Economic Complexity Index (ECI). In 2017, Venezuela exported $27.8B and imported $9.1B, resulting in a positive trade balance of $18.7B.

The top exports of Venezuela are Crude Petroleum ($22.2B), Refined Petroleum ($2.86B), Acyclic Alcohols ($456M), Iron Reductions ($305M) and Iron Ore ($280M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($1.97B), Corn ($377M), Wheat ($248M), Ethers ($168M) and Rice ($164M).

The top export destinations of Venezuela are the United States ($11.6B), China ($6.42B), India ($5.25B), Singapore ($1.25B) and Spain ($390M). The top import origins are the United States ($3.45B), China ($1.65B), Mexico ($1.08B), Brazil ($469M) and Colombia ($318M).

Venezuela borders Brazil, Colombia and Guyana by land and Trinidad and Tobago by sea.