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VENEZUELA
The Bolivarian Republic of Venezuela
 Area:
916,445 sq km
Population: 25 million
Capital City: Caracas (greater Caracas population 5
million)
People: Mestizo (67%), Caucasian (21%), Black (10%),
Indigenous (2%). Colombians form the largest expatriate
community (1.6million)
Language: Spanish
Religion(s): Roman Catholic
Basic Economic Facts:
Currency: Bolivar
GDP: US$ 118 billion (2005)
GDP per head: US$ 4,600 (2005)
Annual Growth: -9.2% (2003), 17.3% (2004), 9% (2005)
Inflation: 27% 2003; 19% (2004), 14.4% (2005)
Major Industries: Oil, Gas, Telecomms, Consumer Goods,
Mining, Agriculture
Major trading partners: United States, Colombia, Brazil,
Cuba, Japan
Venezuela is a country of vast economic
potential. The petroleum sector dominates the economy,
accounting for 50% of central government revenue and 70% of
exports. Venezuela's current account is well in surplus. Central
bank reserves stand at 28.9 billion USD (Jan 2006). Debt is
around 40% of GDP.
Major political parties: Hugo
Chavez’s Movimiento Quinta República (MVR), Patria Para Todos
(PPT), Podemos . Main Opposition Parties: Acción Democrática
(AD), the Comité de Organización Política Electoral
Independiente, (COPEI), Movimiento al Socialismo (MAS), Primero
Justicia (Justice First), Proyecto Venezuela. The opposition
parties withdrew from the last elections for the National
Assembly so are not represented in parliament.
Government: Federal Republic comprising 22 States, one
Federal District and 72 islands which are Federal Dependencies.
The executive dominates the four branches of government: the
legislature, the Consejo Moral Republicano (CMR, Moral
Republican Council), the judiciary and the Consejo Nacional
Electoral (CNE, the National Electoral Council).
Legislature: The 1999 Constitution established a
unicameral legislature. The National Assembly consists of 177
deputies, all of whom are from the Government coalition.
Head of State: President Hugo Chávez-Frías
Foreign Minister: Ali Rodríguez Araque.
Membership of international groupings/organizations: UN,
OPEC, ALADI (the Latin American Integration Association), IMF,
the World Bank, the Inter-American Development Bank, the
Organization of American States, the Community of Andean
Nations, Association of Caribbean States, G77, G15, G3, Mercosur
(currently going through process of becoming a member).
DID YOU KNOW?
-
Venezuela has accumulated more
international titles than any other country, including four
Miss Universe winners, five Miss World, and four Miss
International.
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The name Venezuela is believed
to have originated from the cartographer
Amerigo Vespucci, who together with Alonso de Ojeda led
a
1499 naval expedition along the northwestern coast
(known today as the
Gulf of Venezuela).
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Venezuela is one of the five founding
members of
OPEC.
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