Top Trading Partners:
Venezuela's top trading partners for exports are the United States at 57.5%, the Netherlands at 5.2%, Mexico at 4.5%, and Colombia at 4.5%.
Venezuela's top trading partners for imports are the United States at 27.0%, Colombia at 12.6%, China at 10.2%, and Brazil at 8.2%.
A reason that Venezuela exports to the United States is because Venezuela is rich with petroleum and the U.S. is in need of it. A reason trading occurs between Venezuela and Colombia is because they both are located in South America. Brazil is also located in South America, which could be a reason for trading as well. Since both Mexico and Venezuela speak Spanish could be a reason that they trade. China and the United States are advanced in the technology department. Venezuela is not, that is why Venezuela imports from the U.S. and China.
Venezuela's top trading partners for exports are the United States at 57.5%, the Netherlands at 5.2%, Mexico at 4.5%, and Colombia at 4.5%.
Venezuela's top trading partners for imports are the United States at 27.0%, Colombia at 12.6%, China at 10.2%, and Brazil at 8.2%.
A reason that Venezuela exports to the United States is because Venezuela is rich with petroleum and the U.S. is in need of it. A reason trading occurs between Venezuela and Colombia is because they both are located in South America. Brazil is also located in South America, which could be a reason for trading as well. Since both Mexico and Venezuela speak Spanish could be a reason that they trade. China and the United States are advanced in the technology department. Venezuela is not, that is why Venezuela imports from the U.S. and China.
Trade Agreements:
Venezuela is involved in many trade agreements. The country is involved in World Trade Organization, WTO. Over 150 countries are involved in this organization. It helps governments to negotiate trade agreements. This benefits Venezuela since there are so many countries involved in this organization. Venezuela is also involved in the Mercosur Trade Center. This organization helps trade between South American countries like Argentina, Brazil, Peru, Uruguay and Venezuela. This is a benefit to Venezuela since this country resides in South America. It promotes easy trading. Venezuela has a trading agreement with Argentina. The reason for this is because Venezuela is cutting back trade with Colombia. Venezuela has another trade agreement with Brazil. This is to boost their economies and to diversify Venezuela's trading in South America.
Venezuela is involved in many trade agreements. The country is involved in World Trade Organization, WTO. Over 150 countries are involved in this organization. It helps governments to negotiate trade agreements. This benefits Venezuela since there are so many countries involved in this organization. Venezuela is also involved in the Mercosur Trade Center. This organization helps trade between South American countries like Argentina, Brazil, Peru, Uruguay and Venezuela. This is a benefit to Venezuela since this country resides in South America. It promotes easy trading. Venezuela has a trading agreement with Argentina. The reason for this is because Venezuela is cutting back trade with Colombia. Venezuela has another trade agreement with Brazil. This is to boost their economies and to diversify Venezuela's trading in South America.