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Venezuela, Bolivarian Republic of

EDC Position-highly restricted select programs

EDC's Position

  • Reactive approach to business
  • Open on a highly restricted basis under all programs


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Country At A Glance

Flag of Venezuela, Bolivarian Republic of
Map of Venezuela, Bolivarian Republic of

Country Facts

Nominal GDP501.40 Billion USD
Population29.98 Million
Total Trade/GDP30.43%
CurrencyVenezuelan Bolivar Fuerte (VEF)
Merchandise Imports from Canada477.71 Million CAD
Canadian direct investment466 Million CAD
Main importsIntermediate, Capital & Consumer Goods

EDC in Venezuela

Canadian companies assisted16
International buyers insured21
Business volume76.79 Million CAD

Business Environment

Venezuela has been a key Latin American market for many Canadian exporters across a range of sectors. Imported goods are critical to the Venezuelan economy. Nevertheless, Venezuela's excessive dependence on oil, high inflation, restrictive access to foreign exchange, and ongoing nationalizations have increased the risk of doing business in Venezuela. Accordingly, there has been a sharp decline in exporter and investor interest in this Andean market.

Key Industries

  • Agriculture
  • Oil and Gas

How we can support your business

Through our representation in Bogotá, Colombia, we provide regional support to Canadian companies planning on or currently doing business in Venezuela. Our regional representatives have developed strategic relationships with major buyers in key sectors as well as an extensive network of local contacts in the market.

  • We are positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.

Consult our interactive Country Risk Quarterly report.

 

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