Venezuela: Exporter Guide
While Venezuela poses unique challenges as an export market, opportunities are growing for U.S. food and agricultural exporters to enter and expand in the market. Domestic production cannot meet consumer demand, leading to a continued dependence on imports. The emergence of a new type of retail outlet,“Bodegones," that caters to middle and high-income consumers is creating a major market for imports of consumer-oriented products. The exemption of imported food products from tariffs since 2018, dollarization of the economy, and the liberalization of trade is creating a more enabling environment for exporters. In 2021, the United States exported USD 634.1 million in agricultural products to Venezuela, a 44.8 percent increase compared to 2020. This consolidated its position as Venezuela’s top supplier of food and agricultural products by volume with a 35.5 percent import market share, and second top supplier of these products by value with a 26.1 percent import market share.