Latitude: 10.0833333000 Longitude: -67.9333333000
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Cerrito, Venezuela
Some random facts about Venezuela |
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| Further Electronic Information | Department of State Web Site. Available on the Internet at http://www.state.gov, the Department of State web site provides timely, global access to official U.S. foreign policy information, including Background Notes and daily press briefings along with the directory of key officers of Foreign Service posts and more. The Overseas Security Advisory Council (OSAC) provides security information and regional news that impact U.S. companies working abroad through its website http://www.osac.gov Export.gov provides a portal to all export-related assistance and market information offered by the federal government and provides trade leads, free export counseling, help with the export process, and more. STAT-USA/Internet, a service of the U.S. Department of Commerce, provides authoritative economic, business, and international trade information from the Federal government. The site includes current and historical trade-related releases, international market research, trade opportunities, and country analysis and provides access to the National Trade Data Bank. |
| Economy - overview: | 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. Tax collection - Venezuela's primary source of non-oil revenue - is expected to surpass $23 billion in 2006, exceeding the yearend collection goal by more than 20%. 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 higher oil prices, record government spending helped to boost GDP growth in 2004 and 2005 to approximately 18% and 11%, respectively. Economic growth in 2006 reached about 9%. This spending, combined with recent minimum wage hikes and improved access to domestic credit, has fueled a consumption boom - car sales in 2006 increased by around 70% - but has come at the cost of higher inflation. Despite government attempts to withdraw liquidity from the economy, Venezuela's money supply set a record in June 2006, approximately 70% higher than the previous year. Imports have also jumped significantly. |
| Independence: | 5 July 1811 (from Spain) |
| Terrain: | Andes Mountains and Maracaibo Lowlands in northwest; central plains (llanos); Guiana Highlands in southeast |
| Agriculture - products: | corn, sorghum, sugarcane, rice, bananas, vegetables, coffee; beef, pork, milk, eggs; fish |
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