Venezuela: Venezuela Agricultural Imports in 2023 Grew 4 Percent by Volume

In calendar year 2023, Venezuelan agricultural imports dropped 8 percent year-on-year to $2.7 billion. By volume, however, agricultural imports increased 4 percent year-on-year owing to a decrease in import prices. Agricultural imports from the United States totaled $675 million, down 9 percent from 2022. Since 2019, the Venezuelan market for U.S. agricultural exports has grown 284 percent. The United States remained the second-largest exporter of agricultural products to Venezuela, with a 24 percent market share, second only to Brazil. In this period, the primary U.S. agricultural products exported to Venezuela included soybean meal, corn, wheat, soybeans, and other consumer products. Opportunities continue to grow for U.S. food and agricultural exports to expand in the market.