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India - Venezuela Business and Cultural Council

Venezuela, located in South America, is known for its vast oil reserves, diverse landscapes, and rich cultural heritage. Its capital is Caracas. The country faces economic challenges, political instability, and a humanitarian crisis in recent years.

Ambassador and Consul General

Global India Business Forum presented H.E. Alberto A. Guani, Ambassador of Venezuela, and Embassy of Venezuela. The GIBF team had a fruitful discussion to collaborate with Venezuela to explore different business opportunities and trade between two countries. Global President of GIBF, Dr. Jitendra Joshi and Co-Founder & Director - Global Operations, Deepali Gadkari attended the meeting.

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Scrap Iron, Petroleum Coke, Crude Petroleum, Acyclic Alcohols, Raw Aluminium.

Soybean Oil, Soybean Meal, Corn, Rice, Raw Sugar.

About Venezuela

ABOUT Venezuela

Venezuela is a nation with a varied terrain in northern South America that is endowed with abundant natural resources, including oil, but it also faces formidable political and economic obstacles. Its history includes a 19th-century war for independence from Spain, as well as intervals of military government and democracy. Hugo Chávez and Nicolás Maduro have both presided over socialist countries with socialist programs and dictatorial tendencies. They have also faced a catastrophic economic crisis typified by hyperinflation, shortages of essential products, and widespread emigration, which has resulted in international sanctions and a humanitarian disaster.

Business Opportunities in Venezuela

BUSINESS OPPORTUNITIES IN Venezuela

According to World Economic Forums Global Competitiveness report for 2019, Venezuela stands 133rd out of 141 countries. World Banks latest Ease of Doing Business report rated Venezuela as 188 out of 189 economies. Following are the advantages of investing in Venezuela – Abundant natural reserves, particularly the oil sector, the privatization of ports and airports is a good business opportunity for foreign investors. Agri-food industry (coffee, tropical fruits, rice, tobacco, cocoa, alcoholic beverages), Automobile industry and audiovisual production.

Exports and Imports In Venezuela

Overview In 2022 Venezuela was the number 132 economy in the world in terms of total exports and the number 116 in total imports.

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Top Exports of Venezuela

The top exports of Venezuela are Scrap Iron ($564M), Petroleum Coke ($509M), Crude Petroleum ($495M), Acyclic Alcohols ($418M), and Raw Aluminium ($337M), exporting mostly to China ($703M), Turkey ($597M), Spain ($518M), United States of America ($438M), and Brazil ($361M).

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Top Imports of Venezuela

The top imports of Venezuela are Soybean Oil ($365M), Soybean Meal ($305M), Corn ($286M), Rice ($244M), and Raw Sugar ($241M), importing mostly from China ($3.01B), United States of America ($2.21B), Brazil ($1.33B), Colombia ($632M), and Turkey ($366M).

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Global India Business Forum - Brochure

The GIBF brochure gives you comprehensive insight of all the events and programs that we have conducted over a period of time. Download

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