Products imported into the Bolivarian Republic of Venezuela cost a total US$15.3 billion in 2024.

That calculated dollar amount results from a 119.4% expansion from $7 billion worth of Venezuelan imports in 2020.

Year over year, the total value of products bought by Venezuela on international markets accelerated by 31.7% compared to the $11.6 billion spent in 2023.

Domestically, Venezuela’s inflation rate in terms of average consumer prices accelerated 48.98% for 2024 down from an average 337.5% in 2023.

Given Venezuela’s population of 26.6 million people, its total $15.3 billion in estimated imports for 2024 translates to roughly $575 in yearly product demand from every person in the South American nation. That dollar metric exceeds the average $425 per capita one year earlier in 2023.

Venezuela’s Top 10 Imports

The following product groups represent the highest dollar value in Venezuela’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Venezuela.

1. Mineral fuels including oil: US$2.4 billion (15.3% of total imports)
2. Machinery including computers: $1.6 billion (10.4%)
3. Electrical machinery, equipment: $1.4 billion (9.1%)
4. Vehicles: $1.2 billion (7.7%)
5. Plastics, plastic articles: $735.4 million (4.8%)
6. Cereals: $707.2 million (4.6%)
7. Food industry waste, animal fodder: $365.4 million (2.4%)
8. Pharmaceuticals: $328.4 million (2.1%)
9. Clothing, accessories (not knit or crochet): $321.2 million (2.1%)
10. Sugar, sugar confectionery: $314.6 million (2.1%)

Venezuela’s top 10 imports generated over three-fifths (60.7%) of the overall value of its product purchases from global markets.

Mineral fuels including oil was the top-gaining import product category, up 240.7% from 2023 to 2024.

In second place were Venezuela’s imports of plastics (up 42.1%) both as materials and items made from plastic.

Machinery including computers rose 38.7% compared to 2023.

The worst declining product category was cereals, pulled down by a -10% year-over-year drop.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented below is at the more granular 4-digit level.

Venezuela’s Imports of Mineral Fuels Including Oil

In 2024, Venezuelan importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$2.3 billion (up 246.2% from 2023)
2. Petroleum oil residues: $21.6 million (up 67.9%)
3. Petroleum jelly, mineral waxes: $9.2 million (up 56.9%)
4. Coal tar oils (high temperature distillation): $706,000 (down -21.6%)
5. Peat: $332,000 (up 111.5%)
6. Coke, semi-coke: $60,000 (down -32.6%)
7. Coal, solid fuels made from coal: $58,000 (up 100%)
8. Distilled tar: $30,000 (2023 data unavailable)
9. Petroleum gases: $10,000 (down -63%)
10. Natural bitumen, asphalt, shale: $5,000 (2023 data unavailable)

Among these import subcategories, Venezuelan purchases of processed petroleum oils (up 246.2%), peat (up 111.5%) then coal including solid fuels made from coal (up 100%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Venezuelan businesses and consumers.

Venezuela’s Imports of Machinery Including Computers

In 2024, Venezuelan importers spent the most on the following 10 subcategories of machinery including computers.

1. Air conditioners: US$257.7 million (up 76.2% from 2023)
2. Liquid pumps and elevators: $173.6 million (up 134.1%)
3. Refrigerators, freezers: $157.8 million (up 48.6%)
4. Computers, optical readers: $92.9 million (down -4.8%)
5. Air or vacuum pumps: $82.8 million (up 9.6%)
6. Washing machines: $64.9 million (up 29.6%)
7. Printing machinery: $52.3 million (up 51.9%)
8. Taps, valves, similar appliances: $43.9 million (up 30.7%)
9. Miscellaneous machinery: $39.4 million (up 113%)
10. Centrifuges, filters and purifiers: $37.8 million (up 22.8%)

Among these import subcategories, Venezuelan purchases of liquid pumps and elevators (up 134.1%), miscellaneous machinery (up 113%) then air conditioners (up 76.2%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Venezuelan businesses and consumers.

Venezuela’s Imports of Electrical Products

In 2024, Venezuelan importers spent the most on the following 10 subcategories of electrical items including consumer electronics.

1. Phone devices including smartphones: US$390.5 million (down -15.8% from 2023)
2. TV receivers/monitors/projectors: $219.9 million (up 17.5%)
3. Insulated wire/cable: $81.8 million (up 48.8%)
4. Electric circuit parts, fuses, switches: $81.6 million (down -25.3%)
5. Electric water heaters, hair dryers: $68.5 million (up 42.9%)
6. Electrical converters/power units: $68.4 million (up 125.1%)
7. Lower-voltage switches, fuses: $54.8 million (up 55.7%)
8. Electric storage batteries: $47.7 million (up 50.5%)
9. Electrical/optical circuit boards, panels: $45.4 million (up 189.4%)
10. Electric generating sets, converters: $38.7 million (up 77.2%)

Among these import subcategories, Venezuelan purchases of electrical and optical circuit boards or panels (up 189.4%), electrical converters and power units (up 125.1%) then electric generating sets and converters (up 77.2%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of electronics-related imports among Venezuelan businesses and consumers.

Venezuela’s Imports of Vehicles

In 2024, Venezuelan importers spent the most on the following 10 subcategories of vehicles.

1. Motorcycles: US$372.5 million (up 88.7% from 2023)
2. Cars: $285.5 million (down -1.8%)
3. Automobile parts/accessories: $192.6 million (up 5.5%)
4. Motorcycle parts/accessories: $114.5 million (down -4.2%)
5. Trucks: $60 million (down -2%)
6. Tractors: $33 million (up 6.9%)
7. Bicycles, other non-motorized cycles: $19.8 million (up 62.6%)
8. Trailers: $19.4 million (up 44.5%)
9. Public-transport vehicles: $12 million (down -47.8%)
10. Wheelchairs: $6.6 million (up 258.3%)

Among these import subcategories, Venezuelan purchases of wheelchairs (up 258.3%), motorcycles (up 88.7%) then bicycles or other non-motorized cycles (up 62.6%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Venezuelan businesses and consumers.

See also Venezuela’s Top 10 Exports, Brazil’s Top 10 Imports, Refined Oil Exports by Country and Corn Exports by Country

Research Sources:
Central Intelligence Agency, The World Factbook South America: Venezuela. Accessed on December 9, 2025

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on December 9, 2025

International Trade Centre, Trade Map. Accessed on December 9, 2025

Wikipedia, Venezuela. Accessed on December 9, 2025