Trade with Venezuela plummets by 42 percent.

After several years of setting new records, US trade with Latin America fell 8 percent last year after growing by 2.5 percent in 2014, according to a Latinvex analysis of data from the US Census Bureau.

Trade fell with all but two countries, with Venezuela, Brazil and Colombia particularly pulling down the region’s total trade with the United States.

Venezuela lost a whopping $17.7 billion in trade with the US last year, while Brazil lost $13.7 billion, and Colombia nearly $8 billion.

As a result, Colombia replaced Venezuela as the third-largest US trade partner in Latin America after Mexico and Brazil.

US trade with Latin America reached $776 billion last year.

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