Part 216
This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for about two-thirds of the population. Fishing, offshore financial services, and tourism, with nearly 197,000 visitors in 2008, are other mainstays of the economy. Mineral deposits are negligible; the country has no known petroleum deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, and long distances from main markets and between constituent islands. In response to foreign concerns, the government has promised to tighten regulation of its offshore financial center. In mid-2002, the government stepped up efforts to boost tourism through improved air connections, resort development, and cruise ship facilities. Agriculture, especially livestock farming, is a second target for growth. Australia and New Zealand are the main suppliers of tourists and foreign aid.
GDP (purchasing power parity):
$1.216 billion (2010 est.) country comparison to the world: 196 $1.168 billion (2009 est.)
$1.126 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$721 million (2010 est.)
GDP - real growth rate:
4.1% (2010 est.) country comparison to the world: 76 3.8% (2009 est.)
6.6% (2008 est.)
GDP - per capita (PPP):
$5,500 (2010 est.) country comparison to the world: 140 $5,300 (2009 est.)
$5,200 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 26%
industry: 12%
services: 62% (2000 est.)
Labor force:
115,900 (2007) country comparison to the world: 181
Labor force - by occupation:
agriculture: 65%
industry: 5%
services: 30% (2000 est.)
Unemployment rate:
1.7% (1999) country comparison to the world: 9
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
3.9% (2007 est.) country comparison to the world: 113
Central bank discount rate:
6% (31 December 2009) country comparison to the world: 77 6% (31 December 2008)
Commercial bank prime lending rate:
5.5% (31 December 2009 est.) country comparison to the world: 148 5.29% (31 December 2008 est.)
Stock of narrow money:
$229.2 million (31 December 2009) country comparison to the world: 171 $177.7 million (31 December 2008)
Stock of broad money:
$614.2 million (31 December 2009) country comparison to the world: 169 $531.6 million (31 December 2008)
Stock of domestic credit:
$274 million (31 December 2008 est.) country comparison to the world: 170 $229.5 million (31 December 2007 est.)
Market value of publicly traded shares:
$NA
Agriculture - products:
copra, coconuts, cocoa, coffee, taro, yams, fruits, vegetables; beef; fish
Industries:
food and fish freezing, wood processing, meat canning
Electricity - production:
42 million kWh (2007 est.) country comparison to the world: 200
Electricity - consumption:
39.06 million kWh (2007 est.) country comparison to the world: 200
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
0 bbl/day (2009 est.) country comparison to the world: 123
Oil - consumption:
1,000 bbl/day (2009 est.) country comparison to the world: 191
Oil - exports:
0 bbl/day (2007 est.) country comparison to the world: 166
Oil - imports:
654 bbl/day (2007 est.) country comparison to the world: 193
Oil - proved reserves:
0 bbl (1 January 2010 est.) country comparison to the world: 108
Natural gas - production:
0 cu m (2008 est.) country comparison to the world: 114
Natural gas - consumption:
0 cu m (2008 est.) country comparison to the world: 164
Natural gas - exports:
0 cu m (2008 est.) country comparison to the world: 103
Natural gas - imports:
0 cu m (2008 est.) country comparison to the world: 117
Natural gas - proved reserves:
0 cu m (1 January 2010 est.) country comparison to the world: 122
Current account balance:
-$60 million (2007 est.) country comparison to the world: 70
Exports:
$40 million (2006) country comparison to the world: 200
Exports - commodities:
copra, beef, cocoa, timber, kava, coffee
Exports - partners:
Thailand 53.15%, Japan 12.22%, Poland 11.78% (2009)
Imports:
$156 million (2006) country comparison to the world: 203
Imports - commodities:
machinery and equipment, foodstuffs, fuels
Imports - partners:
Japan 17.3%, Australia 13.46%, China 12.26%, Singapore 12%, NZ 6.88%, Poland 6.61%, France 5.86%, Fiji 5.52% (2009)
Reserves of foreign exchange and gold:
$40.54 million (2003) country comparison to the world: 133
Debt - external:
$81.2 million (2004) country comparison to the world: 181
Exchange rates:
vatu (VUV) per US dollar - 97.93 (2009), NA (2007), 111.93 (2006), NA (2005), 111.79 (2004), 122.19 (2003)
Communications ::Vanuatu
Telephones - main lines in use:
7,200 (2009) country comparison to the world: 206
Telephones - mobile cellular:
126,500 (2009) country comparison to the world: 181
Telephone system:
general assessment: NA
domestic: NA
international: country code - 678; satellite earth station - 1 Intelsat (Pacific Ocean)
Broadcast media:
1 state-owned television station; multi-channel pay TV is available; state-owned Radio Vanuatu operates 2 radio stations; 2 privately-owned radio broadcasters; programming from multiple international broadcasters is accessible (2008)
Internet country code:
.vu
Internet hosts:
1,347 (2010) country comparison to the world: 164
Internet users:
17,000 (2009) country comparison to the world: 196
Transportation ::Vanuatu
Airports:
31 (2010) country comparison to the world: 114
Airports - with paved runways:
total: 3
2,438 to 3,047 m: 1
1,524 to 2,437 m: 1
914 to 1,523 m: 1 (2010)
Airports - with unpaved runways:
total: 28
914 to 1,523 m: 5
under 914 m: 23 (2010)
Roadways:
total: 1,070 km country comparison to the world: 183 paved: 256 km
unpaved: 814 km (1999)
Merchant marine:
total: 72 country comparison to the world: 60 by type: bulk carrier 35, cargo 5, container 1, liquefied gas 2, passenger 2, refrigerated cargo 26, vehicle carrier 1
foreign-owned: 70 (Australia 2, Belgium 1, Canada 5, Greece 4, Japan 44, Monaco 1, Norway 1, Poland 7, Russia 1, UAE 1, Ukraine 3) (2010)
Ports and terminals:
Forari Bay, Luganville (Santo, Espiritu Santo), Port-Vila
Military ::Vanuatu
Military branches:
no regular military forces; Vanuatu Police Force (VPF), Vanuatu Mobile Force (VMF; includes Police Maritime Wing (PMW)) (2009)
Manpower available for military service:
males age 16-49: 61,178 (2010 est.)
Manpower fit for military service:
males age 16-49: 42,450
females age 16-49: 43,894 (2010 est.)
Manpower reaching militarily significant age annually:
male: 2,346
female: 2,249 (2010 est.)
Military expenditures:
NA
Transnational Issues ::Vanuatu
Disputes - international:
Matthew and Hunter Islands east of New Caledonia claimed by Vanuatu and France
page last updated on January 20, 2011
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@Venezuela (South America)
Introduction ::Venezuela
Background:
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 capitalist globalization and existing democratic institutions. Current concerns include: a weakening of democratic institutions, political polarization, a politicized military, drug-related violence along the Colombian border, overdependence on the petroleum industry with its price fluctuations, and irresponsible mining operations that are endangering the rain forest and indigenous peoples.
Geography ::Venezuela
Location:
Northern South America, bordering the Caribbean Sea and the North Atlantic Ocean, between Colombia and Guyana
Geographic coordinates:
8 00 N, 66 00 W
Map references:
South America
Area:
total: 912,050 sq km country comparison to the world: 33 land: 882,050 sq km
water: 30,000 sq km
Area - comparative:
slightly more than twice the size of California
Land boundaries:
total: 4,993 km
border countries: Brazil 2,200 km, Colombia 2,050 km, Guyana 743 km
Coastline:
2,800 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 15 nm
exclusive economic zone: 200 nm
continental shelf: 200 m depth or to the depth of exploitation
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 5,007 m
Natural resources:
petroleum, natural gas, iron ore, gold, bauxite, other minerals, hydropower, diamonds
Land use:
arable land: 2.85%
permanent crops: 0.88%
other: 96.27% (2005)
Irrigated land:
5,750 sq km (2003)
Total renewable water resources:
1,233.2 cu km (2000)
Freshwater withdrawal (domestic/industrial/agricultural):
total: 8.37 cu km/yr (6%/7%/47%)
per capita: 313 cu m/yr (2000)
Natural hazards:
subject to floods, rockslides, mudslides; periodic droughts
Environment - 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
Environment - international agreements:
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
signed but not ratified:: none of the selected agreements
Geography - note:
on major sea and air routes linking North and South America; Angel Falls in the Guiana Highlands is the world's highest waterfall
People ::Venezuela
Population:
27,223,228 (July 2010 est.) country comparison to the world: 45
Age structure:
0-14 years: 30.5% (male 4,157,194/female 4,022,595)
15-64 years: 64.3% (male 8,480,872/female 8,754,620)
65 years and over: 5.2% (male 620,657/female 778,905) (2010 est.)
Median age:
total: 25.8 years
male: 25.1 years
female: 26.5 years (2010 est.)
Population growth rate:
1.515% (2010 est.) country comparison to the world: 81
Birth rate:
20.29 births/1,000 population (2010 est.) country comparison to the world: 91
Death rate:
5.14 deaths/1,000 population (July 2010 est.) country comparison to the world: 182
Net migration rate:
0 migrant(s)/1,000 population (2010 est.) country comparison to the world: 101
Urbanization:
urban population: 93% of total population (2008)
rate of urbanization: 2% annual rate of change (2005-10 est.)
Sex ratio:
at birth: 1.05 male(s)/female
under 15 years: 1.03 male(s)/female
15-64 years: 0.97 male(s)/female
65 years and over: 0.79 male(s)/female
total population: 0.98 male(s)/female (2010 est.)
Infant mortality rate:
total: 21.07 deaths/1,000 live births country comparison to the world: 96 male: 24.6 deaths/1,000 live births
female: 17.37 deaths/1,000 live births (2010 est.)
Life expectancy at birth:
total population: 73.77 years country comparison to the world: 109 male: 70.69 years
female: 77 years (2010 est.)
Total fertility rate:
2.45 children born/woman (2010 est.) country comparison to the world: 93
HIV/AIDS - adult prevalence rate:
0.7%; note - no country specific models provided (2001 est.) country comparison to the world: 63
HIV/AIDS - people living with HIV/AIDS:
110,000 (1999 est.) country comparison to the world: 45
HIV/AIDS - deaths:
4,100 (2003 est.) country comparison to the world: 49
Major infectious diseases:
degree of risk: high
food or waterborne diseases: bacterial diarrhea
vectorborne disease: dengue fever and malaria (2009)
Nationality:
noun: Venezuelan(s)
adjective: Venezuelan
Ethnic groups:
Spanish, Italian, Portuguese, Arab, German, African, indigenous people
Religions:
nominally Roman Catholic 96%, Protestant 2%, other 2%
Languages:
Spanish (official), numerous indigenous dialects
Literacy:
definition: age 15 and over can read and write
total population: 93%
male: 93.3%
female: 92.7% (2001 census)
School life expectancy (primary to tertiary education):
total: 14 years
male: 13 years
female: 15 years (2008)
Education expenditures:
3.7% of GDP (2007) country comparison to the world: 122
Government ::Venezuela
Country name:
conventional long form: Bolivarian Republic of Venezuela
conventional short form: Venezuela
local long form: Republica Bolivariana de Venezuela
local short form: Venezuela
Government type:
federal republic
Capital:
name: Caracas
geographic coordinates: 10 30 N, 66 56 W
time difference: UTC-4.5 (half an hour ahead of Washington, DC during Standard Time)
Administrative divisions:
23 states (estados, singular - estado), 1 capital district* (distrito capital), and 1 federal dependency** (dependencia federal); Amazonas, Anzoategui, Apure, Aragua, Barinas, Bolivar, Carabobo, Cojedes, Delta Amacuro, Dependencias Federales (Federal Dependencies)**, Distrito Capital (Capital District)*, Falcon, Guarico, Lara, Merida, Miranda, Monagas, Nueva Esparta, Portuguesa, Sucre, Tachira, Trujillo, Vargas, Yaracuy, Zulia
note: the federal dependency consists of 11 federally controlled island groups with a total of 72 individual islands
Independence:
5 July 1811 (from Spain)
National holiday:
Independence Day, 5 July (1811)
Constitution:
30 December 1999
Legal system:
open, adversarial court system; has not accepted compulsory ICJ jurisdiction
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Hugo CHAVEZ Frias (since 3 February 1999); Executive Vice President Elias JAUA Milano (since 26 January 2010); note - the president is both the chief of state and head of government
head of government: President Hugo CHAVEZ Frias (since 3 February 1999); Executive Vice President Elias JAUA Milano (since 26 January 2010)
cabinet: Council of Ministers appointed by the president (For more information visit the World Leaders website ) elections: president elected by popular vote for a six-year term (eligible for unlimited reelection); election last held on 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; in 2009, a national referendum approved the elimination of term limits on all elected officials, including the presidency
election results: Hugo CHAVEZ Frias reelected president; percent of vote - Hugo CHAVEZ Frias 62.9%, Manuel ROSALES 36.9%
Legislative branch:
unicameral National Assembly or Asamblea Nacional (165 seats; members elected by popular vote to serve five-year terms; three seats reserved for the indigenous peoples of Venezuela)
elections: last held on 26 September 2010 (next to be held in 2015)
election results: percent of vote by party - pro-government 48.9%, opposition coalition 47.9%, other 3.2%; seats by party - pro-government 98, opposition 65, other 2
Judicial branch:
Supreme Tribunal of Justice or Tribunal Supremo de Justicia (32 magistrates are elected by the National Assembly for a single 12-year term)
Political parties and leaders:
A New Time or UNT [Omar BARBOZA]; Brave People's Alliance or ABP [Oscar PEREZ]; Christian Democrats or COPEI [Luis Ignacio PLANAS]; Communist Party of Venezuela or PCV [Oscar FIGUERA]; Democratic Action or AD [Henry RAMOS Allup]; Fatherland for All or PPT [Jose ALBORNOZ]; For Social Democracy or PODEMOS [Ramon MARTINEZ]; Justice First [Julio BORGES]; Movement Toward Socialism or MAS [Felipe MUJICA]; United Socialist Party of Venezuela or PSUV [Hugo CHAVEZ]; Venezuela Project or PV [Henrique SALAS Romer]
Political pressure groups and leaders:
FEDECAMARAS, a conservative business group; VECINOS groups; Venezuelan Confederation of Workers or CTV (labor organization dominated by the Democratic Action)
International organization participation:
Caricom (observer), CDB, FAO, G-15, G-24, G-77, IADB, IAEA, IBRD, ICAO, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ITSO, ITU, ITUC, LAES, LAIA, LAS (observer), Mercosur (associate), MIGA, NAM, OAS, OPANAL, OPCW, OPEC, PCA, PetroCaribe, RG, UN, UNASUR, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Bernardo ALVAREZ Herrera
chancery: 1099 30th Street NW, Washington, DC 20007
telephone: [1] (202) 342-2214
FAX: [1] (202) 342-6820
consulate(s) general: Boston, Chicago, Houston, Miami, New Orleans, New York, San Francisco, San Juan (Puerto Rico)
Diplomatic representation from the US:
chief of mission: Ambassador (vacant)
embassy: Calle F con Calle Suapure, Urbanizacion Colinas de Valle Arriba, Caracas 1080
mailing address: P. O. Box 62291, Caracas 1060-A; APO AA 34037
telephone: [58] (212) 975-6411, 907-8400 (after hours)
FAX: [58] (212) 907-8199
Flag description:
three equal horizontal bands of yellow (top), blue, and red with the coat of arms on the hoist side of the yellow band and an arc of eight white five-pointed stars centered in the blue band; the flag retains the three equal horizontal bands and three main colors of the banner of Gran Colombia, the South American republic that broke up in 1830; yellow is interpreted as standing for the riches of the land, blue for the courage of its people, and red for the blood shed in attaining independence; the seven stars on the original flag represented the seven provinces in Venezuela that united in the war of independence; in 2006, President Hugo CHAVEZ ordered an eighth star added to the star arc - a decision that sparked much controversy
National anthem:
name: "Gloria al bravo pueblo" (Glory to the Brave Nation)
lyrics/music: Vicente SALIAS/Juan Jose LANDAETA
note: adopted 1881; the lyrics were written in 1810, the music some years later; both SALIAS and LANDAETA were executed in 1814 during Venezuela's struggle for independence
Economy ::Venezuela
Economy - overview:
Venezuela remains highly dependent on oil revenues, which account for roughly 95% of export earnings, about 55% of the federal budget revenues, and around 30% of GDP. 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 high oil prices, record government spending helped to boost GDP by about 10% in 2006, 8% in 2007, and nearly 5% in 2008, before a sharp drop in oil prices caused a contraction in 2009-10. This spending, combined with recent minimum wage hikes and improved access to domestic credit, has created a consumption boom but has come at the cost of higher inflation - roughly 32% in 2008, and slowing only slightly to 30% in 2010, despite the lengthy downturn. Imports also jumped significantly before the recession of 2009. President Hugo CHAVEZ's continued efforts to increase the government's control of the economy by nationalizing firms in the agribusiness, financial, construction, oil, and steel sectors have hurt the private investment environment, reduced productive capacity, and slowed non-petroleum exports. In the first half of 2010 Venezuela faced the prospect of lengthy nationwide blackouts when its main hydroelectric power plant - which provides more than 35% of the country's electricity - nearly shut down. In January, 2010, CHAVEZ announced a dual exchange rate system for the bolivar and closed the unofficial foreign exchange market - the "parallel" market - in an effort to stem inflation and slow the currency's depreciation. The foreign exchange system offers a 2.6 bolivar per dollar rate for imports of essentials, including food, medicine, and industrial machinery, and a 4.3 bolivar per dollar rate for imports of other products, including cars and telephones.
GDP (purchasing power parity):
$344.2 billion (2010 est.) country comparison to the world: 35 $354.1 billion (2009 est.)
$366.2 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$285.2 billion (2010 est.)
GDP - real growth rate:
-2.8% (2010 est.) country comparison to the world: 207 -3.3% (2009 est.)
4.8% (2008 est.)
GDP - per capita (PPP):
$12,600 (2010 est.) country comparison to the world: 91 $13,200 (2009 est.)
$13,900 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 4.1%
industry: 34.9%
services: 61.1% (2010 est.)
Labor force:
13.3 million (2010 est.) country comparison to the world: 40
Labor force - by occupation:
agriculture: 13%
industry: 23%
services: 64% (1997 est.)
Unemployment rate:
12.1% (2010 est.) country comparison to the world: 130 7.9% (2009 est.)
Population below poverty line:
37.9% (yearend 2005 est.)
Household income or consumption by percentage share:
lowest 10%: 1.7%
highest 10%: 32.7% (2006)
Distribution of family income - Gini index:
41 (2009) country comparison to the world: 57 49.5 (1998)
Investment (gross fixed):
16.4% of GDP (2010 est.) country comparison to the world: 122
Public debt:
25.5% of GDP (2010 est.) country comparison to the world: 98 18% of GDP (2009 est.)
Inflation rate (consumer prices):
29.8% (2010 est.) country comparison to the world: 224 27.1% (2009 est.)
Central bank discount rate:
29.5% (31 December 2009) country comparison to the world: 3 33.5% (31 December 2008)
Commercial bank prime lending rate:
19.89% (31 December 2009 est.) country comparison to the world: 12 22.37% (31 December 2008 est.)
Stock of narrow money:
$69.36 billion (31 December 2010 est) country comparison to the world: 37 $93.19 billion (31 December 2009 est)
Stock of broad money:
$78.11 billion (31 December 2010 est.) country comparison to the world: 58 $107 billion (31 December 2009 est.)
Stock of domestic credit:
$54.22 billion (31 December 2010 est.) country comparison to the world: 62 $75.87 billion (31 December 2009 est.)
Market value of publicly traded shares:
$NA (31 December 2008)
$NA (31 December 2007)
$8.251 billion (31 December 2006)
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
Industrial production growth rate:
-8% (2010 est.) country comparison to the world: 166
Electricity - production:
113.3 billion kWh (2007 est.) country comparison to the world: 29
Electricity - consumption:
83.02 billion kWh (2007 est.) country comparison to the world: 34
Electricity - exports:
540 million kWh (2007 est.)
Electricity - imports:
1.651 billion kWh (2007 est.)
Oil - production:
2.472 million bbl/day (2009 est.) country comparison to the world: 11
Oil - consumption:
740,000 bbl/day (2009 est.) country comparison to the world: 23
Oil - exports:
2.182 million bbl/day (2007 est.) country comparison to the world: 8
Oil - imports:
0 bbl/day (2007 est.) country comparison to the world: 206
Oil - proved reserves: