Venezuela’s political and economic woes continue. Panjiva’s analysis of its trade with five partners (U.S., China, Brazil, Colombia and Mexico) showed total trade climbed 12% in September vs. August. Yet, exports are still 19% lower than a year earlier and imports are down by 58%. The growth in the month was likely driven by an 8% increase in the volume of oil shipped to the U.S. and China by PdVSA. The future for that $1.3 billion revenue stream will depend on the OPEC meeting due on November 30. In the meantime food remains critical – imports from Mexico, Colombia and Brazil fell 10% i...
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