# Venezuela (VE)

**Capital:** Caracas  
**Currency:** Venezuelan bolívar (VES) (VES)  
**Population:** 28,405,543 — Older stored figure; source year not documented.  
**Area:** 916,445 km²

> Venezuela, on South America's Caribbean coast, is one of the world's largest oil and gas producers; crude oil and petrochemicals dominate its foreign trade. Its main seaports are Puerto Cabello, La Guaira and Maracaibo, and its main air-cargo hub is Maiquetía Simón Bolívar Airport near Caracas. Customs are handled electronically via SIDUNEA World (SENIAT); the general VAT rate is 16 percent. After the change of power in early 2026 and a partial easing of US sanctions, the situation remains volatile.

Venezuela (ISO code: VE) lies in northern South America on the Caribbean, bordering Colombia, Brazil and Guyana. Since January 2026 the country has been governed by a transitional administration under Delcy Rodríguez after the removal of Nicolás Maduro, amid continuing political and economic challenges. The climate ranges from tropical savanna in the north to humid rainforest in the south and semi-arid conditions in the northwest. Venezuela holds some of the world's largest oil and gas reserves, and crude oil and petrochemicals historically make up most of its exports and state revenue; mining and agriculture also play a role. The country depends heavily on imports of machinery, consumer goods and technology. Key seaports include La Guaira, Puerto Cabello and Maracaibo, complemented by international airports and road links that position Venezuela as a regional transhipment point on Caribbean trade routes. The currency is the Venezuelan bolívar (VES), which remains highly volatile.

**Top Import Partners:** CN, US, BR, CO, MX

**Top Export Partners:** US, CN, ES, BR, TR

**Top Import Goods:** Machinery, Electronic equipment, Pharmaceuticals, Mineral oils, Components

**Top Export Goods:** Petrochemical products, Organic chemicals, Iron, Crustaceans, Derivatives

**Key Airports:**
- [General José Antonio Anzoategui International Airport (BLA)](https://www.freight-academy.com/en/information/airports/general-jose-antonio-anzoategui-international-airport-bla)
- [Maiquetía Simón Bolívar International Airport (CCS)](https://www.freight-academy.com/en/information/airports/maiquetia-simon-bolivar-international-airport-ccs)
- [Alberto Carnevalli Airport (MRD)](https://www.freight-academy.com/en/information/airports/alberto-carnevalli-airport-mrd)
- [Anaco Airport (AAO)](https://www.freight-academy.com/en/information/airports/anaco-airport-aao)
- [Arturo Michelena International Airport (VLN)](https://www.freight-academy.com/en/information/airports/arturo-michelena-international-airport-vln)
- [Barinas Airport (BNS)](https://www.freight-academy.com/en/information/airports/barinas-airport-bns)
- [Barquisimeto International Airport (BRM)](https://www.freight-academy.com/en/information/airports/barquisimeto-international-airport-brm)
- [Cacique Aramare Airport (PYH)](https://www.freight-academy.com/en/information/airports/cacique-aramare-airport-pyh)
- [Calabozo Airport (CLZ)](https://www.freight-academy.com/en/information/airports/calabozo-airport-clz)
- [Canaima Airport (CAJ)](https://www.freight-academy.com/en/information/airports/canaima-airport-caj)

## Customs & Import

**Import VAT:** General IVA rate of 16 percent on CIF value plus customs duty  
**Customs complexity:** High  
**Customs system:** Electronic customs processing via SIDUNEA World (ASYCUDA) of SENIAT; import declaration as DUA (Declaración Única Aduanera) by an authorized customs agent.  
**Customs authority:** [Servicio Nacional Integrado de Administración Aduanera y Tributaria (SENIAT)](https://www.seniat.gob.ve)

## Logistics & Risk

**Logistics role:** Oil exporter / Caribbean transshipment point  
**Economic area:** No active customs union; Mercosur membership suspended since 2016, ALADI member  
**Logistics risk:** High  
**Dangerous goods relevance:** high  
**Pharma/cold chain:** medium

## FAQ

### What is the import tax (IVA) rate in Venezuela?

The general IVA rate is 16 percent on the CIF value plus customs duties and other charges. A reduced rate of 8 percent applies to certain goods such as basic foodstuffs; an additional surcharge of 15 percent is levied on luxury goods (SENIAT).

### Which customs system does Venezuela use?

SENIAT processes imports and exports electronically via SIDUNEA World (ASYCUDA of UNCTAD). An authorized customs agent submits the Declaración Única Aduanera (DUA) together with supporting documents; goods are classified according to the Harmonized System.

### What are Venezuela's most important ports?

The largest port is Puerto Cabello, followed by La Guaira (container port for Caracas) and Maracaibo in the west. Puerto La Cruz/Guanta and the Orinoco ports in Ciudad Guayana are important for oil, petrochemicals and raw materials.

### Are there sanctions against Venezuela?

Yes. Extensive US sanctions (OFAC) against the state and the oil company PDVSA remain in place. Since February 2026, however, OFAC general licenses (including No. 46A and 48) have eased parts of the oil trade and the operation of ports and airports. Basic blocking sanctions continue to apply.

### Which currency is used in Venezuela?

The legal tender is the Venezuelan bolívar (VES), which continues to fluctuate strongly. In business dealings and price setting, the US dollar is in fact widely used.

### Which airport handles air cargo?

The main air cargo hub is Aeropuerto Internacional de Maiquetía Simón Bolívar (CCS/SVMI) near Caracas, with its own cargo terminal. La Chinita in Maracaibo and Arturo Michelena in Valencia also serve air freight traffic.

### What risks exist for supply chains to Venezuela?

The key factors are the political and economic uncertainty following the change of power in early 2026, continuing US sanctions, currency controls and currency volatility. In addition, there is the territorial dispute over Essequibo with Guyana and high customs complexity.

## Sources & Last Verified

- [https://www.seniat.gob.ve](https://www.seniat.gob.ve)
- [https://declaraciones.seniat.gob.ve/portal/page/portal/MANEJADOR_CONTENIDO_SENIAT/02NORMATIVA_LEGAL/2.4TRIBUTOS_INTERNOS/2.4.03IVA/2.4.3.html](https://declaraciones.seniat.gob.ve/portal/page/portal/MANEJADOR_CONTENIDO_SENIAT/02NORMATIVA_LEGAL/2.4TRIBUTOS_INTERNOS/2.4.03IVA/2.4.3.html)
- [https://declaraciones.seniat.gob.ve/portal/page/portal/MANEJADOR_CONTENIDO_SENIAT/04ADUANAS/4.1OBLIGACIONES_ADUAN/4.1.1-3.html](https://declaraciones.seniat.gob.ve/portal/page/portal/MANEJADOR_CONTENIDO_SENIAT/04ADUANAS/4.1OBLIGACIONES_ADUAN/4.1.1-3.html)
- [https://declaraciones.seniat.gob.ve/portal/page/portal/MANEJADOR_CONTENIDO_SENIAT/08SISTEMASLINEA1/DESCARGA_SIDUNEA.html](https://declaraciones.seniat.gob.ve/portal/page/portal/MANEJADOR_CONTENIDO_SENIAT/08SISTEMASLINEA1/DESCARGA_SIDUNEA.html)
- [https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions](https://ofac.treasury.gov/sanctions-programs-and-country-information/venezuela-related-sanctions)
- [https://www.mayerbrown.com/en/insights/publications/2026/01/ofac-issues-new-general-license-authorizing-established-us-companies-to-engage-in-trade-of-venezuelan-oil-and-related-activities](https://www.mayerbrown.com/en/insights/publications/2026/01/ofac-issues-new-general-license-authorizing-established-us-companies-to-engage-in-trade-of-venezuelan-oil-and-related-activities)
- [https://www.hklaw.com/en/insights/publications/2026/02/ofac-authorizes-certain-venezuelan-oil-sector-activities](https://www.hklaw.com/en/insights/publications/2026/02/ofac-authorizes-certain-venezuelan-oil-sector-activities)
- [https://data.worldbank.org/indicator/SP.POP.TOTL?locations=VE](https://data.worldbank.org/indicator/SP.POP.TOTL?locations=VE)

*Last verified: 2026-07-01*

---

*Freight Academy — Country Profile: [https://www.freight-academy.com/en/information/land/ve](https://www.freight-academy.com/en/information/land/ve)*

*Markdown mirror: [https://www.freight-academy.com/api/md/country/en/ve](https://www.freight-academy.com/api/md/country/en/ve)*