U.S. agricultural product exports to Venezuela averaged a notable $1.4 billion per year from 2010-2014. Nevertheless, Venezuela’s economy is dependent on oil, which accounts for about 95 percent of export revenues. The precipitous fall in oil prices since 2015 has significantly diminished foreign reserves, challenging Venezuela’s financial capability to import goods. As a result, the value of U.S. agricultural exports in 2015 plummeted almost 50 percent to $672 million. In 2016, U.S. agricultural product exports will closely match that of 2015 as the price for oil remains low.