- overview
- strengths
- Bilateral Agreements
- bilateral trade
- agencies
- Indian Mission
India's import from Venezuela was worth US$6bn in 2018-19.
Venezuela was India’s fifth largest oil supplier in Q1 2019-20.
India is a key supplier of pharmaceutical products to Venezuela.
Indian oil and gas companies are heavily invested in Venezuela.
US$ 334.36 mn
Exports from India to Venezuela between 2021-2022
US$ 423.78mn
Bilateral trade during fiscal 2021-2022
+110
Indians occupied in O&G sector
Concurrent Accreditation The Mission in Venezuela also handles India's bilateral relations with Aruba, "Bonaire, Sint Eustatius and Saba", Curacao, Sint Maarten and Netherlands Antilles
Oil & Gas
Venezuela has the world's largest reserves of crude oil (over 300 billion barrels) and has invited foreign assistance in commercialising the resources.
Mining
Venezuela is a major producer and exporter of minerals like bauxite, coal, gold, iron ore, and oil, and the state controls most of the mineral reserves.
Opportunities
Venezuela offers opportunities in power utilities, pharmaceutical products, textile, food processing, heavy engineering, and organic chemicals.
India's Exports and Imports to Venezuela
Source: Department of Commerce
Country / Region: VENEZUELA
| S.No. | \Year | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 |
|---|---|---|---|---|---|---|
| 1. | EXPORT | 79.21 | 164.77 | 339.71 | 557.10 | 334.36 |
| 2. | %Growth | 108.03 | 106.17 | 63.99 | -39.98 | |
| 3. | India’s Total Export | 303,526.16 | 330,078.09 | 313,361.04 | 291,808.48 | 422,004.40 |
| 4. | %Growth | 8.75 | -5.06 | -6.88 | 44.62 | |
| 5. | %Share | 0.03 | 0.05 | 0.11 | 0.19 | 0.08 |
| 6. | IMPORT | 5,866.37 | 7,258.95 | 6,057.01 | 714.24 | 89.42 |
| 7. | %Growth | 23.74 | -16.56 | -88.21 | -87.48 | |
| 8. | India’s Total Import | 465,580.99 | 514,078.42 | 474,709.28 | 394,435.88 | 613,052.05 |
| 9. | %Growth | 10.42 | -7.66 | -16.91 | 55.43 | |
| 10. | %Share | 1.26 | 1.41 | 1.28 | 0.18 | 0.01 |
| 11. | TOTAL TRADE | 5,945.58 | 7,423.72 | 6,396.72 | 1,271.33 | 423.78 |
| 12. | %Growth | 24.86 | -13.83 | -80.13 | -66.67 | |
| 13. | India’s Total Trade | 769,107.15 | 844,156.51 | 788,070.32 | 686,244.36 | 1,035,056.45 |
| 14. | %Growth | 9.76 | -6.64 | -12.92 | 50.83 | |
| 15. | %Share | 0.77 | 0.88 | 0.81 | 0.19 | 0.04 |
| 16. | TRADE BALANCE | -5,787.16 | -7,094.18 | -5,717.30 | -157.14 | 244.94 |
| 17. | India’s Trade Balance | -162,054.83 | -184,000.33 | -161,348.24 | -102,627.40 | -191,047.65 |
Economic Commission for Latin America
+56-868-224-8000
Av. Dag Hammarskjöld 3477, Vitacura, Santiago de Chile
Federation of Indian Export Organisations
+91-11-46042222, 26150101/04
Niryat Bhawan, Rao Tula Ram Marg, Opp. Army Hospital Research & Referral, New Delhi-110 057
Indian Trade Promotion Organisation
+91-11-23371540
Pragati Bhawan, Pragati Maidan New Delhi-110001 (INDIA)
Embassy of India, Caracas
0058-212-285-7887, 3637
Address: Quinta Tagore
No. 12, Avenida San Carlos, La Floresta
Caracas – Venezuela
Embassy of India, Caracas
Mr. Omar Molina Fereira
Marketing Assistant (local staff)
Embassy of India, Caracas
Mr. Javier Jose Alonzo Silva
Commercial Clerk (local staff)
