Despite uneasy relation between Venezuela and the U.S. the trade relationship between these two countries are souring high. No matter, even if Hugo Chavez has launched an incessant tirade against the U.S. but it seems these political outbursts from both sides, has nothing to do with the economic relations between these two countries. A latest figure released by the Venezuelan-American chamber of commerce and industry shows that the volume of trade has been more than doubled between Venezuela and the U.S. in last four years. The trade volume has risen sharply to touch $47 billion mark in the current year, whereas four years back the trade volume was around just $20 billion. According to the report, within the last year alone the export and import level between these countries has been shot up by 15 percent. However, as a matter of fact the increase in the trade volume owes to the soaring global oil prices to a great extent, as now the value of Venezuelan oil shipments to America now stands around $39 billion a year. The oil industry of Venezuela constitutes roughly 90 percent of its total export followed by textiles and food items. On the other hand, Venezuelan economy is growing handsomely at the rate of 9 percent a year and consequently pushing up demand for luxurious items to a record level. In recent times demand for cars, clothes and electronic goods have jumped dramatically in the country. Venezuela has time to time expressed its desire to sell more and more oil to South East markets and particularly to China with its growing demand for energy to keep its breakneck growth moving. However, in present circumstances, turning the oil taps close for the U.S. seems very unlikely as there is no real and potential substitute of the U.S. in terms of a petroleum customer.