Country Profile Venezuela

06-29-12 by Emmanuel Besserve


Country Profile Venezuela

Venezuela was one of three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Ecuador and New Granada, which became Colombia).

• Capital: Caracas          
• Population: 26,814,843 (July 2009 est.)    
• Currency: Bolivar (VEB)                                      
• Language: Spanish (official), numerous indigenous dialects
• Time zone: UTC-4
• Government: Federal Republic
• Chief of State: Hugo Chavez Frias
• Dialing Country code: +58
• Emergency numbers:  171
• National Airline: Avensa
• Voltage: 120V

Detailed country profile

ECONOMY

GDP real growth rate:

• 4.2% (2011 est.)
• -1.5% (2010 est.)
• -3.2% (2009 est.)
• 4.9% (2008 est.)
• 8.4% (2007 est.)
• 10.3% (2006 est.)

GDP-Composition by sector (2011)

• Agriculture: 3.8%
• Industry: 35.8%
• Services: 60.4%

Labor force by occupation (2011):

• Agriculture: 7.3%
• Industry: 21.8%
• Services: 70.9%

Agriculture products:

• Corn
• Sorghum
• Sugarcane
• Rice
• Bananas
• Vegetables
• Coffee
• Beef
• Pork
• Milk
• Eggs
• Fish

Industries:

• Petroleum
• Construction materials
• Food processing
• Textiles
• Iron ore mining
• Steel
• Aluminum
• Motor vehicle assembly

Exports:

• $92.6 billion (2011 est.)
• $65.79 billion (2010 est.)

Export Commodities

• Petroleum
• Bauxite and aluminum
• Steel
• Chemicals
• Agricultural products
• Basic manufactures

Main Export Partners (2009):

• US 38.7%
• China 7.7%
• India 4.8%
• Cuba 4.1%

Imports:

• $46.4 billion (2011 est.)
• $38.61 billion (2010 est.)

Import commodities:

• Raw materials
• Machinery and equipment
• Transport equipment
• Construction materials

Import partners:

• US 26.6%
•  Colombia 11.4%
•  Brazil 9.6%
• China 9.1%

Ports and Terminal:

• La Guaira
• Maracaibo
• Puerto Cabello
• Punta Cardon

Unemployment rate:

• 8.2% (2011 est.)
• 8.1% (2010 est.)

GOVERNMENT

Government Type: Federal Republic

Executive Branch:

Chief of state: President Hugo CHAVEZ Frias (since 3 February 1999); Vice President Elias Jaua Milano (since 26 January 2010);
Note - the president is both the chief of state and head of government
Cabinet: Council of Ministers appointed by the president
Elections: president elected by popular vote for a six-year term (eligible for a second term); election last held 3 December 2006 (next to be held in December 2012)
Note: in 1999, a National Constituent Assembly drafted a new constitution that increased the presidential term to six years; an election was subsequently held on 30 July 2000 under the terms of this constitution

Legal system: civil law system based on the Spanish civil code

GEOGRAPHY

Land Boundaries:total: 4,993 km

Border countries:

• Brazil 2,200 km
• Colombia 2,050 km
• Guyana 743 km

Climate:Tropical; hot, humid; more moderate in highlands

Terrain: Andes Mountains and Maracaibo Lowlands in northwest; central plains (llanos); Guiana Highlands in southeast

Elevation Extremes:

• Lowest point: Caribbean Sea 0 m
• Highest point: Pico Bolivar (La Columna) 5,007 m

Natural resources:

• Petroleum
• Natural gas
• Iron ore
• Gold
• Bauxite
• Other minerals
• Hydropower
• Diamonds

Environment and international agreement:

Party to:

• Antarctic Treaty
• Biodiversity
• Climate Change
• Climate Change-Kyoto Protocol
• Desertification
• Endangered Species
• Hazardous Wastes
• Marine Life Conservation
• Ozone Layer Protection
• Ship Pollution
• Tropical Timber 83
• Tropical Timber 94
• Wetlands

Environment and current issues:

• Sewage pollution of Lago de Valencia
• Oil and urban pollution of Lago de Maracaibo
• Deforestation
• Soil degradation
• Urban and industrial pollution
• Especially along the Caribbean coast
• Threat to the rainforest ecosystem from irresponsible mining operations

PEOPLE

Ethnic groups:

• Spanish
• Italian
• Portuguese
• Arab
• German
• African
• Indigenous people

Languages:Spanish (official), numerous indigenous dialects

Religion:

• Roman Catholic 96%
• Protestant 2%
• Other 2%

HISTORY

Express History

Venezuela was one of three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Ecuador and New Granada, which became Colombia).

For most of the first half of the 20th century, Venezuela was ruled by generally benevolent military strongmen, who promoted the oil industry and allowed for some social reforms. Democratically elected governments have held sway since 1959.

Hugo CHAVEZ, president since 1999, seeks to implement his "21st Century Socialism," which purports to alleviate social ills while at the same time attacking globalization and undermining regional stability.

Current concerns include: a weakening of democratic institutions, political polarization, a politicized military, drug-related violence along the Colombian border, increasing internal drug consumption, overdependence on the petroleum industry with its price fluctuations, and irresponsible mining operations that are endangering the rain forest and indigenous peoples

Source: The world factbook www.cia.gov

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