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Venezuela

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
Map of Venezuela

Country Facts

Nominal GDP492 Billion USD
Population30.41 Million
Total Trade/GDP20.71%
CurrencyVenezuelan Bolivar Fuerte (VEF)
Merchandise Imports from Canada633.20 Million CAD
Canadian direct investment406 Million CAD
Main importsIntermediate, Capital & Consumer Goods

EDC in Venezuela

Canadian companies assisted13
International buyers insured1
Business volume100.41 Million CAD

Business Environment

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. The Government has significantly increased its control over the country’s assets over the past decade. The business climate is turbulent and President Maduro's administration has been openly hostile towards private capital and foreign direct investment. This situation is not expected to change over the short term.

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.

 

Related Information

Country Risk Quarterly

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