Economy of Venezuela

Imports

Imports commoditiesagricultural products, livestock, raw materials, machinery and equipment, transport equipment, construction materials, medical equipment, pharmaceuticals, chemicals, iron and steel products

Import partnersUS 31.7%, China 16.8%, Brazil 9.1%, Colombia 4.8% (2012)

Exports

Exports commoditiespetroleum, bauxite and aluminum, minerals, chemicals, agricultural products, basic manufactures

Export partnersUS 39.1%, China 14.3%, India 12%, Netherlands Antilles 7.8%, Cuba 4.6% (2012)

Economy sectors

Agriculture productscorn, sorghum, sugarcane, rice, bananas, vegetables, coffee; beef, pork, milk, eggs; fish

Industrial productspetroleum, construction materials, food processing, textiles; iron ore mining, steel, aluminum; motor vehicle assembly, chemical products, paper products

Economy

Unemployment7.90 % (2013)7.80 % (2012)8.20 % (2011)

GDP - Official Exchange Rate368 Billion $ (2013)376 Billion $ (2012)316 Billion $ (2011)

GDP - Official Exchange Rate of Venezuela

GDP growth rate1.60 % (2013)5.60 % (2012)4.20 % (2011)

GDP per Capita (PPP)13,600 $ (2013)13,500 $ (2012)12,800 $ (2011)

GDP - Purchasing Power Parity407 Billion $ (2013)398 Billion $ (2012)380 Billion $ (2011)

GDP - Purchasing Power Parity of Venezuela

GDP PPP per land area447 Thousand $ per square kilometer (2013)436 Thousand $ per square kilometer (2012)417 Thousand $ per square kilometer (2011)

Electricity

Electricity - installed generating capacity27.5 Million kW

Banking

Central bank discount rate29.5 % (2010)29.5 % (2009)33.5 % (2008)

Commercial bank prime lending rate18.0 % (2013)16.4 % (2012)17.2 % (2011)

Commercial bank prime lending rate of Venezuela

GDP decomposition by sector

Agriculture % of GDP3.70 % (2013)3.70 % (2012)

Industry % of GDP35.5 % (2013)35.5 % (2012)

Services % of GDP60.8 % (2013)60.8 % (2012)

Tourism

International tourism, number of arrivals710 Thousand (2012)595 Thousand (2011)526 Thousand (2010)

International tourism, number of departures2.02 Million (2012)1.72 Million (2011)1.48 Million (2010)

International tourism, number of departures of Venezuela

Yearly Tourist arrivals to residents ratio2.53 % (2012)2.15 % (2011)1.81 % (2010)

Yearly Tourist arrivals to residents ratio of Venezuela

Debt, Current Account Balance and Budget Deficit

Public debt (Percentage of GDP)34.2 % of GDP (2013)26.8 % of GDP (2012)29.0 % of GDP (2011)

Public debt (Percentage of GDP) of Venezuela

Budget surplus (+) or deficit (-)-14.80 % of GDP

Current Account Balance (Percentage of GDP)2.89 % of GDP (2012)7.71 % of GDP (2011)2.24 % of GDP (2010)

Current Account Balance (Percentage of GDP) of Venezuela

External Debt Stocks (Percentage of GNI)19.4 % of GNI (2012)22.7 % of GNI (2011)16.8 % of GNI (2010)

External Debt Stocks (Percentage of GNI) of Venezuela

Short-term debt (percentage of total external debt)26.9 % of total external debt (2012)27.2 % of total external debt (2011)31.7 % of total external debt (2010)

Short-term debt (percentage of total external debt) of Venezuela

Current Account Balance (Total)3.20 Billion $ (2013)11.0 Billion $ (2012)27.2 Billion $ (2011)

Current Account Balance (Total) of Venezuela

External Debt (Total)74.9 Billion $ (2013)75.8 Billion $ (2012)89.6 Billion $ (2011)

External Debt (Percentage of GDP)20.4 % of GDP (2013)20.1 % of GDP (2012)28.3 % of GDP (2011)

External Debt (Percentage of GDP) of Venezuela

External Debt per Capita2,631 $ (2013)2,701 $ (2012)3,242 $ (2011)