US Commerce Dept: US-Venezuela trade hits highest level since 2015

Bilateral trade between Venezuela and the United States has surged to its highest point since 2015, with the first six months of 2026 recording a total of $9.53 billion in commerce. This figure represents a substantial 113% increase compared to the same period in the previous year, according to data from the U.S. Department of Commerce's Bureau of Economic Analysis.

Venezuelan exports to the U.S. experienced a dramatic rise of 159%, reaching $6.57 billion. This marks the highest level for Venezuelan shipments to the U.S. since 2017. The hydrocarbon sector overwhelmingly dominated these exports, accounting for 98% of the total and amounting to $6.43 billion. This significant increase is attributed to the easing of restrictive measures between the two governments earlier in the year and a rise in international oil prices, influenced by geopolitical tensions in the Middle East and blockades in the Strait of Hormuz.

Beyond oil, non-energy exports also showed growth. Methanol sales led this category with $34 million, a 73% increase, followed by coffee sales which grew 18% to $25 million. However, the trade of unprocessed cacao saw a 30% contraction, totaling $12 million. Notably, unprocessed gold re-entered the trade records with $8 million after a two-year suspension.

The reactivation of Venezuela's oil industry also influenced its imports from the U.S. Purchases of refining inputs increased by 75% to $1.66 billion, constituting over half of Venezuela's import bill. Agricultural goods imports also rose by 70% to $594.58 million, with corn purchases reaching a historic peak of $304 million. Overall, Venezuela recorded a favorable trade balance of $3.60 billion with the U.S. in the first half of 2026, a 470% jump from the previous year, reflecting the strongest trade surplus in eight years.