The Venezuelan economic activities are based on the use of rich and varied natural resources, especially oil, supplemented with mineral resources, groundwater, soil, agricultural, fishery, forestry, biodiversity and wildlife tours.

In economic news is mainly based on Venezuelan oil exploitation light, medium, heavy, bitumen and natural gas derivates are processed in the refineries, cryogenic plants, and orimulsion. Since the mid-twentieh century has tended to diversity exports of iron ore, coal, cement  bauxite and unconventional products such  as petrochemical  materials, manufacturing of steel and aluminum metal and agricultural and fishery products. Are gaining increasing importance of tourism activities.

Currency (exchange rate, for USD VERB):

The  U.S. dollar became American have an equivalent of 2.60 BsF for settlement of sale transactions of foreign exchange to priority sectors such as:

- Imports of food, health, education, machinery, and equipment, science and technology, according to trade policy established by the Nacional Executive.

- Operations impeached remittances abroad.

- Payments for costs of students attending academic activities abroad.

- Payments for expenditure for health recovery, sports, culture, scientific research and other special urgency.

- Acquisition of foreign currency by diplomatic representations, consular officials and by foreign officials of international organizations duly accredited with the National Goverrment.

- Payments of public sector oil companies, including the payment of external debt.

For the settlement of transactions in currencies other than sale of these sectors came to an exchange rate of Bs 4.30 per dollar of the Unites States.

Inflation rate (%): 25.1 clousure 2009 (source: Central Bank of Venezuela).

External public debt (USD): 33.649 million (at end of first quater 2009 according).

GDP growth: 4,9 % (2009 BCV).

GDP (%), composition by sector:

Agriculture: 4%

Industry: 34.6%

Services: 61.4%

GDP per capita: $ 13,200 (2009 est.).

Unemployment (%): 7,5% (end March 2009, according to INE).

Industry: petrochemicals steel, aluminum, cement, textiles, foodstuffs, fertilizers, auto parts, vehicles, telecommunications, beverages, footwear, chemicals and plastics.

Agriculture: sugar, corn, rice, banana, cassava, coconut, orange, pineapple, mango, cocoa, snuff and potato.

Livestock: cattle, swine and goats.

Exports: $ 51.99 billion (2009 est).

Imports:  $ 41.04 billion (2009 est.).

Export Products: drugs, vehicles, transport equipment, electrical equipment, telecommunication transmitters, chemical, paper, etc.

Trading Partners:

Exports: U.S., China, India, Singapore, Cuba, Bahamas, Ecuador, Netherlands,  Aruba, Spain, Colombia, Germany, Italy and Dominican Republic.

Imports: US., China, Colombia, Brazil, Mexico, Argentina, Italy and Chile.

Sources:

World Almanac 2010.

Goverment online.

E-Bulletin Basc Carabobo Venezuela.

The World Factbook.