Soaring trade fueling growth for both nations

It was a year of the commercial consolidation between Venezuela and China in 2011 as trade reached $18 billion, 24 times the figure of $742 million registered in 2003.

Last year also showed a light surplus in the Venezuelan trade balance with China, reflecting the complementary economies of the two countries.

Such a quantitative jump has turned China into one of the three major trade partners of Venezuela, while the South American country is becoming one of the most important suppliers of crude oil and petroleum products for China.