Trade between Spain and Venezuela exceeds 497 million euros under the new geopolitical scenario

Between January and October 2025, España y Venezuela They mobilized a total of 497,05 million euros in commercial transactions, consolidating a negative balance for the Spanish economy of 197,39 million euros due to the strong weight of hydrocarbons after the regional geopolitical stabilization promoted by Estados Unidos.

 

Analysis of the trade balance: A structural energy deficit

 

The detailed analysis of the data from foreign trade It reveals a profound technical asymmetry. Spanish exports Exports to the Venezuelan market reached 149,83 million euros, a figure that, although significant in added value, is far surpassed by the imports from Venezuela, which amounted to 347,22 million euros.

 

From the perspective of physical volume, the disparity is even more pronounced. España It acquired 819,33 million kilograms of Venezuelan merchandise—mainly liquid bulk—while Spanish shipments totaled only 87,48 million kilograms. This 1 to 9 ratio by weight demonstrates that the trade is based on the purchase of heavy raw materials versus the sale of light or intermediate manufactured goods.

 

Trade Indicator (Jan-Oct 2025)	Value in Euros (€)	Volume in Kilograms (kg)
Exports (España a Venezuela)	149.833.024,18	87.480.556,44
Imports (Venezuela a España)	347.224.490,41	819.338.858,59
Trade Balance (Deficit for España)	-197.391.466,23	-731.858.302,15

 

Strategic sectors: Technical machinery and raw minerals

 

The structure of Spanish sales shows a specialization in capital goods and industrial products. The sector of Machinery and mechanical appliances (TARIC 84) leads exports with 21,42 million euros, followed by shipments of fuels and mineral oils (TARIC 27) with 19,73 million euros, probably destined for refining processes or specific needs of the local oil industry.

 

In terms of imports, Spain's dependence on the Venezuelan energy sector is almost absolute. Chapter 27 of the tariff nomenclature (mineral fuels) accounts for 88,6% of all Spanish imports, with a value of €307,93 million. Agri-food and basic metallurgical sectors lag far behind.

 

Main sectors of exchange

 

• Capital goods: Spanish machinery remains the main export driver with 21,4 million euros.
• Hydrocarbons: Venezuela exported to España crude oil and derivatives worth 307,9 million euros.
• Consumption and industry: Notable among these are the €10,11 million in ceramic products and the €7,88 million in perfumery and cosmetics shipped from España.
• Food and metals: España It imported 16,83 million euros worth of fish and 6,26 million euros worth of iron and steel castings.

 

Breakdown by Relevant TARIC Chapters (2025)

 

TARIC
Sector Description
Export (€)
Import (€)

84
Nuclear reactors, boilers and machinery
21.428.557,06
278.117,29

27
Mineral fuels and oils
19.734.071,00
307.930.930,00

69
Ceramic products
10.118.148,50
2.784,00

03
Fish, crustaceans and mollusks
3.336,40
16.834.947,55

22
Beverages, alcoholic liquids and vinegar
2.339.294,00
6.616.464,16

 

Economic and geopolitical context

 

This increase in trade volume is part of a 2025 scenario where the intervention of Estados Unidos in the region it has reconfigured the Caribbean's logistics flows. For España, Venezuela It is consolidating its position as a critical energy supplier, while Spanish companies maintain a relevant share in the supply of industrial technology needed for the reactivation of Venezuelan infrastructure.

 

Key points and frequently asked questions about trading with Venezuela

Which country has the advantage in the current trade relationship?

Venezuela It maintains a clear advantage in the trade balance with a surplus of 197,39 million euros compared to España, driven primarily by the energy sector.

Which Spanish products are most in demand by Venezuela?

Machinery and mechanical appliances (Chapter 84) are the most exported products, totaling more than 21 million euros, followed by ceramic products and perfumery items.

What is the real weight of oil in Spanish imports?

Oil and its derivatives (Chapter 27) represent almost 90% of everything that España buy the Venezuela, reaching a value of over 307 million euros in just ten months.