Venezuelan 2009 exports to US fall by 60 percent

CARACAS, Venezuela (AP) — Venezuela's exports to the United States have dropped 60.4 percent so far this year, due largely to lower oil prices.

A report by The Venezuelan-American Commerce and Industry Chamber says trade between the two countries reached $20.3 billion between January and September, compared to $51.4 billion during the first nine months of 2008.

Oil sales reached $19.5 billion, about 96 percent of total commerce.

The sharp drop in trade is a result of lower petroleum prices on the international market following historically high prices last year.

The trade chamber issued its report on Tuesday.

The United States is Venezuela's No. 1 trade partner despite the often rocky diplomatic relations between Caracas and Washington.