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Venezuela
Republica Bolivariana de Venezuela
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Arabital Group Forwarding
Arabital experience has achieved a leading position throughout the Middle East, recognised in the forwarding world.
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Parabrezza, hard top, box doccia. Prodotti che arricchiscono le imbarcazioni in modo unico soddisfando ogni armatore.
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PeopleVenezuela
Field = Fields World Record = World Records  = Dictionary Bar Graph = Bar graph Distribution Maps = Distribution map Field History = Fields History Definitions = Definitions

Economy - overview:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

Venezuela remains highly dependent on oil revenues, which account for roughly 90% of export earnings, more than 50% of the federal budget revenues, and around 30% of GDP. A nationwide strike between December 2002 and February 2003 had far-reaching economic consequences - real GDP declined by around 9% in 2002 and 8% in 2003 - but economic output since then has recovered strongly. Fueled by high oil prices, record government spending helped to boost GDP in 2006 by about 9% and in 2007 by about 8%. This spending, combined with recent minimum wage hikes and improved access to domestic credit, has created a consumption boom but has come at the cost of higher inflation-roughly 20 percent in 2007. Imports also have jumped significantly. Embolden by his December 2006 reelection, President Hugo CHAVEZ in 2007 nationalized firms in the petroleum, communications, and electricity sectors, which reduced foreign influence in the economy. Although voters in December 2007 rejected CHAVEZ's proposed constitutional changes, CHAVEZ still has significant control of the economy and has indicated he intends to continue to consolidate and centralize authority over the economy by implementing "21st Century Socialism."

GDP (purchasing power parity):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$334.3 billion (2007 est.)

GDP (official exchange rate):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$236.4 billion (2007 est.)

GDP - real growth rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

8.4% (2007 est.)

GDP - per capita (PPP):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$12,800 (2007 est.)

GDP - composition by sector:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

agriculture: 3.8%
industry: 38.4%
services: 57.8% (2007 est.)

Investment (gross fixed):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

23.7% of GDP (2007 est.)

Population below poverty line:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

37.9% (End 2005 est.)

Household income or consumption by percentage share:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

lowest 10%: 0.7%
highest 10%: 35.2% (2003)

Distribution of family income - Gini index:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

48.2 (2003)

Inflation rate (consumer prices):
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

18.7% (2007 est.)

Labor force:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

12.37 million (2007 est.)

Labor force participation rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

46.83 % of population

Labor force - by occupation:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

agriculture: 13%
industry: 23%
services: 64% (1997 est.)

Unemployment rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

8.5% (2007 est.)

Budget:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

revenues: $65.83 billion
expenditures: $58.9 billion (2007 est.)

Budget revenues per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2,493 USD per capita

Public debt:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

19.3% of GDP (2007 est.)

Industries:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

petroleum, construction materials, food processing, textiles; iron ore mining, steel, aluminum; motor vehicle assembly

Industrial production growth rate:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

3.9% (2007 est.)

Electricity - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

99.2 billion kWh (2005)

Electricity - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

3,756 kWh per capita

Electricity - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

73.36 billion kWh (2005)

Electricity - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2,778 kWh per capita

Electricity - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 kWh (2005)

Electricity - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 kWh (2005)

Oil - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2.398 million bbl/day (2007 est.)

Oil - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

90,783 bbl/day per capita

Oil - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

599,000 bbl/day (2006 est.)

Oil - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

8.28 bbl/year per capita

Oil - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2.203 million bbl/day (2006 est.)

Oil - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 bbl/day (2006 est.)

Oil - proved reserves:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

79.14 billion bbl (1 January 2007 est.)

Natural gas - production:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

27.53 billion cu m (2005 est.)

Natural gas - production per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,043 cu m per capita

Natural gas - consumption:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

27.53 billion cu m (2005 est.)

Natural gas - consumption - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,043 cu m per capita

Natural gas - exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2005 est.)

Natural gas - imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

0 cu m (2005)

Natural gas - proved reserves:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

4.112 trillion cu m (1 January 2006 est.)

Agriculture - products:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

corn, sorghum, sugarcane, rice, bananas, vegetables, coffee; beef, pork, milk, eggs; fish

Current account balance:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$20 billion (2007 est.)

Current account balance - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1 USD per capita

Exports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$69.17 billion f.o.b. (2007 est.)

Exports per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2,619 USD per capita

Exports - commodities:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

petroleum, bauxite and aluminum, steel, chemicals, agricultural products, basic manufactures

Exports - partners:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

US 42.4%, Netherlands Antilles 7.9%, China 3.1% (2007)

Imports:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$45.46 billion f.o.b. (2007 est.)

Imports per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,722 USD per capita

Imports - commodities:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

raw materials, machinery and equipment, transport equipment, construction materials

Imports - partners:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

US 26.6%, Colombia 13.5%, Brazil 9.5%, China 6.7%, Mexico 5.2%, Panama 5% (2007)

Reserves of foreign exchange and gold:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$33.48 billion (31 December 2007 est.)

Reserves of foreign exchange and gold - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,268 USD per capita

Debt - external:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$43.33 billion (31 December 2007 est.)

Debt - external - per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

1,641 USD per capita

Stock of direct foreign investment - at home:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$43.96 billion (2007 est.)

Stock of direct foreign investment - abroad:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$13.81 billion (2007 est.)

Market value of publicly traded shares:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$8.251 billion (2006)

Economic aid - donor:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

void

Economic aid - recipient:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

$48.66 million (2005)

Economic aid - recipient per capita:
Field  World Record  Bar Graph  Distribution Map  Field History  Notes and Definitions

2 USD per capita

Currency (code):
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

bolivar (VEB)

Exchange rates:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

bolivares per US dollar - 2,147 (2007), 2,147 (2006), 2,089.8 (2005), 1,891.3 (2004), 1,607 (2003)
note: On 1 January 2008 Venezuela revalued its currency with 1000 old bolivares equal to 1 new bolivar

Fiscal year:
Field  Dictionary  Bar Graph  Distribution Map  Field History  Notes and Definitions

calendar year
Field = Fields World Record = World Records  = Dictionary Bar Graph = Bar graph Distribution Maps = Distribution map Field History = Fields History Definitions = Definitions


This page was last updated on 6 October, 2008

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