Country Information Export Development Canada South and Central America and the Caribbean


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Evaluating the market in Venezuela

We can help you get a better understanding of market activity, relationships and support to grow your business.

EDC Position

EDC Country Position – Open on highly restricted basis

Open on highly restricted basis

What this means:

  • Reactive approach to business
  • EDC solutions are available on a highly restricted basis
How does EDC determine the position?

Risk Rating

EDC Country Position – High Risk

High Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

Business environment in Venezuela

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.
  • Agriculture
  • Oil and Gas
International Trade Solutions

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Interested in growing your business in this market?

Speak to a Trade Advisor weekdays between 9 am to 5 pm EST.



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Alicia McCarthy

Senior Trade Advisor, EDC

Alicia McCarthy  Senior Trade Advisor, EDC