India-Venezuela Trade 2026: The Definitive Outlook

Future-proof your operations with expert guidance on the new era of India-Venezuela trade relations and supply chain resilience.

$2.3 b

Bilateral Trade Value

Petroleum crude oil

Top Traded Products

India-UAE CEPA

Active Trade Agreements

~-7.58%

Annual Growth Rate

India-Venezuela Trade Intelligence: Market Data & Insights

AI Insight

The India-Venezuela trade relationship is characterized by a volatile recovery. While the market saw a -7.58% growth rate over the period, 2024 marked a significant resurgence with total trade hitting $2.26 billion. Trade remains asymmetrical; India’s imports (primarily petroleum crude oil at $1.75B) vastly exceed exports ($216M). Key market indicators point to a heavy reliance on energy sectors and raw materials like petroleum coke and metal scraps. This trajectory suggests a strategic re-engagement in the energy sector, although competitive positioning remains vulnerable to global price shifts.

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Complete 5-Year Trade Overview

AI Insight

Total trade saw a significant rebound in 2024, reaching approximately $2.26 billion. This follows a period of lower activity between 2021 and 2023. Although current levels remain below the $3.09 billion recorded in 2020, the sharp year-on-year increase from 2023 suggests a strong recovery in bilateral trade volume.

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Import & Export Breakdown

AI Insight

Trade is heavily weighted toward imports, which reached $2.04 billion in 2024. In contrast, exports stood at $216.6 million. This pattern reflects a consistent trade deficit, with imports historically peaking in 2020 at $2.33 billion while exports have struggled to return to their 2020 high of $758 million.

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What India Buys from Venezuela

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AI Insight

The bilateral trade between these regions reflects a growth rate of -7.58%. This negative percentage indicates an overall contraction in trade value over the analyzed period, suggesting that despite recent spikes, the long-term trend has faced significant downward pressure and market volatility.

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What Venezuela Buys from India

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Currently, there is no data available regarding the top imported products for the specified period. Further data collection is required to analyze the import composition and identify key commodity trends.

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Annual Growth Trends

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-7.6%Annual Growth

AI Insight

Petroleum crude oil is the primary export, accounting for $1.75 billion in 2024. This is followed by petroleum coke at $166.9 million. The export profile is heavily concentrated in energy products and metal scraps, including aluminium and copper, highlighting a focus on raw material commodities.

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India-Venezuela Trade Regulations Explained

List of Trade requirements for India

Before Shipment

1. IEC Registration; 2. BIS certification for regulated goods; 3. FSSAI permits for food items; 4. EPR authorization for e-waste; 5. Pre-shipment inspection certificates for metal scrap.

Documentation Required

1. Commercial Invoice; 2. Bill of Lading or Airway Bill; 3. Detailed Packing List; 4. Certificate of Origin; 5. Bill of Entry filed via ICEGATE.

List of Trade requirements for Venezuela

Before Shipment

1. SENCAMER registry for technical standards; 2. Sanitary permits from SACS for food/medicine; 3. Import licenses for restricted items; 4. Certificate of No Production; 5. Pre-shipment quality inspections.

Documentation Required

1. Commercial Invoice in Spanish; 2. Bill of Lading or Waybill; 3. Detailed Packing List; 4. Certificate of Origin; 5. Customs Declaration Form (DUA).

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India-Venezuela FTA Opportunities

Don’t let complex trade agreements eat into your profits. Navigate India-Venezuela FTAs with ease, confirm your eligibility, and ensure you’re paying the lowest possible duty rates.

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India-UAE CEPA
India-ASEAN AITIGA
South Asian Free Trade Area (SAFTA)
ALBA-TCP
India-MERCOSUR PTA

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Market Intelligence

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Tariff & Duty Monitoring

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Regulatory Compliance

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