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Major U.S. interests in Venezuela include promotion of U.S. exports and protection of U.S. investment, continuation of the economic reform program, preservation of Venezuela's constitutional democracy, closer counternarcotics cooperation, and continued access to a leading source of petroleum.
U.S.-Venezuelan commercial ties are close. The United States is Venezuela's most important trading partner, representing about half of both imports and exports. In turn, Venezuela is the United States’ third-largest export market in Latin America, purchasing U.S. machinery, transportation equipment, agricultural commodities, and auto parts. Venezuela's opening of its petroleum sector to foreign investment in 1996 created extensive trade and investment opportunities for U.S. companies. As a result, Venezuela is one of the top four suppliers of foreign oil to the United States. The Department of State is committed to promoting the interests of U.S. companies in overseas markets. For contact information and a list of government publications, please go to the end of this document.
Venezuela is a minor source country for opium poppy and coca but a major transit country for cocaine and heroin. Money laundering and judicial corruption are major concerns. The United States is working with Venezuela to combat drug trafficking.
Approximately 23,000 U.S. citizens living in Venezuela have registered with the U.S. embassy, an estimated three-quarters of them residing in the Caracas area. An estimated 12,000 U.S. tourists visit Venezuela annually. About 500 U.S. companies are represented in the country.
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