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FACT SHEET ON VENEZUELA

Official Name

Bolivarian Republic of Venezuela

Area

916.445 sq. kms.

States

Federal Republic, consisting of 23 States, a federal district and 72 island dependencies in the Caribbean Sea.

Population

31.028.637 (2016 projection using 2011 Census) (Urban 93%, Rural 7%)1

Ethnic Groups

Mestizos (67%), Whites (21%), Blacks (10%), Indigenous people (2%)

Capital

Caracas(Metropolitan District of Caracas has a population of 5.1 million.)

Other main cities

Valencia, Maracaibo, Barquisimeto, Ciudad Guyana & Mérida.

Time zone

UTC/GMT -4:00 (-)9.30 hours behind India

Language

Spanish

Religion

Roman Catholic 88%, Protestant 10%, Others 2% (Indigenous Cults, Islam, Hinduism, Judaism etc)

President

Mr. Nicolas Maduro Moros. He assumed office on 19 April 2013

Vice President

Mr. Aristóbulo Istúriz

System of Government

Participative Democracy with Presidential System.

Membership of
International/Regional

Organizations

UN, IMF, World Bank, OPEC, OAS, NAM, G-15, WTO (G-20), Rio Group, Association of Caribbean States (ACS), Bolivarian Alternative for the Peoples of our America (ALBA) and MERCOSUR (signed the Protocol of Accession in July 2006), CELAC,UNASUR, IADB, PETROCARIBE.

GDP (PPP)

US$ 349.64 billion (2015)

Per Capita

US$ 11268 (2015)

GDP Growth

-5.7 % (2015)2

GDP by Sector

Oil Sector 11.75%; Non-oil sector 78.17% (includes mining, manufacture, services, transport, agriculture, communications, real estate etc); Tax revenue 10.06% (2015)3

Inflation

180.9% (2015)4

Currency

Bolivar Fuerte (Bs.F)

Exchange Rate

1 US$ = Bs.F 10 (DIPRO – for essential imports)

1 US$ = BS. 643.47 (DICOM – for non-essential imports and travelers- last updated 02 August 2016)

Forex Reserves

US$11.95 billion (18 July 2016)6

Proven crude oil reserves

299.95 billion barrels (2015)7

Production

2.364 million barrels per day (July 2016) as per the OPEC Monthly Oil Market Report published on 12 July 20168

Proven Gas Reserves

5.581 Billion Standard Cubic Meters (2013)9

Mineral Resources

Aluminum, coal, iron, bauxite, gold and diamonds.

Exports

US$ 37.188 billion (2015) (total exports)

US$ 34.378 billion (2015) (oil exports)

US$ 2.810 billion (2015) (non-oil)10

Major Export Items

Petroleum & derivatives, aluminium, steel, iron ore, chemicals.

Export destinations

United States, China, Colombia, Netherlands, Brazil, Belgium, Trinidad & Tobago, Chile, North Korea, Mexico, India

Imports

US$ 31.567 billion (2015)11

Major import items

Manufactured products, food items, chemicals, pharmaceuticals, equipment and machinery.

National Bird

Venezuelan Troupial

National Flower

Venezuelan Orchid

National Tree

Araguaney

International Calling Code

+58


August 2016


REFERENCES

 Source: http://www.ine.gov.ve/

2Data from Central Bank of Venezuela (BCV): http://www.bcv.org.ve/Upload/Comunicados/aviso180216.pdf

3 Source: Central Bank of Venezuela (BCV) Breakdown of the GDP by sector http://www.bcv.org.ve/excel/5_2_4.xls?id=332

4Source: Central Bank of Venezuela (BCV)http://www.bcv.org.ve/Upload/Comunicados/aviso180216.pdf

5 Source: Central Bank of Venezuela (BCV)

6 Source: Central Bank of Venezuela (BCV)

7OPEC Share of World Crude Oil Reserves: http://www.opec.org/opec_web/en/data_graphs/330.htm

8 Source: OPEC Monthly Oil Market Report, July 2016, Page 61 (http://www.opec.org/opec_web/static_files_project/media/downloads/publications/MOMR%20July%202016.pdf)

9World Proven Natural Gas Reserves by Country: http://www.opec.org/library/Annual%20Statistical%20Bulletin/interactive/current/FileZ/XL/T32.HTM

10 INE Foreign Trade Statistics 2015

1Source: Central Bank of Venezuela (BCV): http://www.bcv.org.ve/Upload/Comunicados/aviso180216.pdf



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