Venezuela Diversifies Export Portfolio with Focus on Non-Oil Products
Venezuela's non-oil exports have expanded significantly, with China and the U.S. as primary markets. The government aims to enhance its global export strategy, targeting neighboring countries and other regions.
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Venezuela has recorded over 20 consecutive quarters of growth in non-oil exports, focusing on commodities such as iron, urea, methanol, fertilizers, and food products. Leading trade partners include China and the United States, with ongoing efforts to penetrate markets in Colombia, Brazil, Asia, and Europe.
The Vice Minister of Trade Policy, Andreína Tarazón, emphasized that public policies and institutional incentives have strengthened the non-oil sectors. The government is also supporting small and medium-sized producers to facilitate their access to global markets. This shift reflects a strategic pivot from traditional oil dependency to a diversified export economy.
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