Venezuela FlagVenezuela

God And Federation.

 

General


Population: 28,868,486 (2014), 28,459,085 (2013)
Land Area: 912,050 sq km
Natural Resources: Petroleum, natural gas, iron ore, gold, bauxite, hydropower, diamonds
Capital: Caracas
Political System: Federal Republic
State Leader: Nicolas Maduro Moros (March 8th 2013)
Languages: Spanish, Indigenous dialects
Currency: Bolivar (VEB)
Major Religions: Roman Catholic 96%, Protestant 2%, Other 2%
Major Ethnicities: Spanish, Italian, Arab, German, African, Indigenous People
Life Expectancy: 74.39 years (2014), 74.23 years (2011)

Economy


GDP Official Exchange Rate: 367.5 billion (2013), 382.4 billion (2012)
GDP Purchasing Power Parity: 407.4 billion (2013), 408.5 billion (2012)
GDP Per Capita (PPP): 13,600 (2013), 13,800 (2012)
GDP Growth Rate: 1.6% (2013), 5.5% (2012)
GDP Structure: Agriculture 3.7%, Industry 35.5%, Services 60.8% (2013)
Labour Force By Occupation: Agriculture 7.3%, Industry 21.8%, Services 70.9% (2011)
Industries: Petroleum, construction materials, food processing, textiles, iron ore mining, steel, aluminum, motor vehicle assembly
Agriculture Products: Corn, sorghum, sugarcane, rice, bananas, vegetables, coffee; beef, pork, milk, eggs; fish
Human Development Index: 0.764 (67th)(2014), 0.748 (71st)(2013)
Tourism Revenue: 531 million (2004)
Unemployment Rate: 7.9% (2013), 7.8% (2012)

MilitaryVenezuela Map


Army Size: 82 300 (2004)
Budget: 1.2% of GDP (2005)

Current Situation

 

Venezuela is located in South America. Venezuela is bordered by Brazil, Colombia and Guyana. Venezuela's economy is growing steadily, with the main export being petroleum, and accounting for about half of the government's revenues. Venezuela also has other natural resources and is diversified in several other sectors.

(2014) Venezuela's economy is expected to slow down considerably in 2014. This is mainly due to shortages that have been effecting most basic areas of the economy including energy and food shortages. Inflation is on the rise and now that the price of oil has dropped dramatically, the governments heavy reliance on oil revenues will become more and more evident and social unrest is not out of the question.

Thoughts & Comments

 

Sources

CIA World Factbook: Venezuela
The Economist: The World In 2014
Wikipedia: Venezuela
http://hdrstats.undp.org/en/countries/profiles/VEN.html

Updated on: January 4th, 2015