South America

Venezuela: from 160,000 emigrants to trade – here’s why the country is so important to Italia

The ties between Italia and Venezuela remain strong thanks to a long-standing cultural presence and significant trade links.

by Andrea Marini

aggiornato il 26 giugno 2026 ore 16:05

Aggiungi Il Sole 24 Ore
ai preferiti su Google
foto generica - bandiera venezuelana. REUTERS/Gaby Ora REUTERS

2' min read

Translated by AI
Versione italiana

2' min read

Translated by AI
Versione italiana

Cultural and commercial ties between Venezuela and Italia go back a long way. And, yes, they have weakened under Nicolás Maduro’s regime, but they have not been severed entirely.

According to the Italian Embassy in Caracas, there are around 160,000 Italian citizens registered with the two consulates (Caracas and Maracaibo, on the Atlantic coast), and it is estimated that there are over 1.5 million Venezuelans of Italian descent (out of a total estimated population of around 30 million).

Loading...

LA MAPPA

Loading...

Emigrants

The Italian presence in Venezuela has historical roots, dating back at least to the post-Second World War period, when Venezuela – buoyed by the oil boom – became one of the most attractive destinations for Italian emigration to the Americas, particularly from Campania, Sicily and Abruzzo.

The Italian presence in Venezuela is second only to that in Argentina and Brazil in South America. It is a presence that has left deep cultural roots, given that this South American country has one of the highest levels of pasta consumption in the world, after Italia.

For years, Italian emigration formed the backbone of the country’s economy: from the 1960s onwards, around a third of Venezuelan industries not linked to the oil sector were owned or managed by Italians and their descendants.

The interchange

Trade between Italia and Venezuela continued to grow at least until 2024, when imports (mainly oil) reached 283 million euros, compared with exports of 178 million (mainly machinery and food products). And whilst imports continued to grow in the early months of 2025 (+2.1% compared with the same period in 2024), exports suffered a sharp decline (-32.4%), mainly due to the crisis that (at the start of 2026, ed.) Caracas is currently experiencing and which is affecting domestic consumption: the International Monetary Fund estimates GDP for 2026 at -3 per cent, following +0.5 per cent in 2025 and +5.3 per cent in 2024.

Copyright reserved ©
Loading...

Brand connect

Loading...

Newsletter

Notizie e approfondimenti sugli avvenimenti politici, economici e finanziari.

Iscriviti