On the occasion of Nicolás Maduro’s inauguration as president of Venezuela, it is pertinent to analyze the behavior of bilateral trade between Venezuela and Colombia since the economic reopening announced in September 2022.
Regarding Colombian exports to Venezuela, Analdex data indicate that, until November 2024, 885.5 million dollars were reached. Although this figure is positive, it fails to meet the established goal of 1,000 million dollars at the end of the year, falling below the expected expectations.
The value of exports to Venezuela represents an increase of 47% compared to the previous year, positioning this country as the twelfth largest importer of Colombian products.
“The balance is favorable, especially considering the political instability in Venezuela. However, the Ministry of Commerce had projected to exceed 1,000 million dollars in exports during 2024, a goal that seems difficult to achieve,” explained Javier Díaz, president of Analdex. “It is important to remain alert to the possible effects of the new mandate in Venezuela and Donald Trump’s policies towards this country, as they could impact the purchasing power of the Venezuelan market,” he added.