Venezuela's trade balance hits best mark since late 2018 on oil surge

Venezuela achieved its strongest trade balance since late 2018, reporting a surplus of $2.445 billion in the first quarter of 2026. This significant economic indicator was primarily fueled by a notable increase in oil export revenues, which climbed to $5.491 billion.

The positive performance marks the best result since the fourth quarter of 2018, when the surplus reached $4.802 billion. The Central Bank of Venezuela published key data, historically restricted under previous administrations, indicating a shift towards greater transparency. This change appears linked to the country's developing relationship with the International Monetary Fund (IMF).

Total imports remained relatively stable, amounting to $4.059 billion in the first quarter. Meanwhile, overall exports, including both oil and non-oil products, rose to $7.759 billion, the highest figure since the first quarter of 2018. Economists, however, note that not all oil revenues are reaching the Venezuelan economy, with a portion held by Washington in a fund established after the political transition. Luis Oliveros, commenting on the Central Bank's figures, suggested that the full proceeds from oil sales are not being channeled into the domestic economy.