China formed less than 1% of Venezuela’s mineral exports in the early 2000s but reached a peak of 28% by 2018. The chart below shows the countrywise share (in %) of Venezuela’s mineral exports among major partners. A Reuters analysis showed that for some months in mid-2025, almost all the oil exports from the country went to China. In 2023, the U.S. accounted for only one-fourth of Venezuela’s imports, with China accounting for one-third in the same period. In the mid-1990s, the share of the U.S. in Venezuela’s imports crossed the 40% mark consistently for many years.

Source: The Hindu January 08, 2026 17:34 UTC