Imports$46.44 billion (2011 est.)
Exports$92.61 billion (2011 est.)
Inflation rate (consumer prices)26.1% (2011 est.)
Unemployment rate8.2% (2011 est.)
GDP - per capita (PPP)$12,700 (2011 est.)
National product real growth rate-2.8% (2010 est.)
Internet users8.918 million (2009)
Telephones - mobile cellular27.88 million (2009)
Population growth rate1.468% (2012 est.)
Population28,047,938 (July 2012 est.)
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....
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 recovered strongly through 2008.
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....
GDP is expected to rise by 1.0% in 2015 and 4.7% in 2016 after 2.3% growth in 2014. Over the period 2015-2019 the economy is expected to grow on average by 3.5%. This compares to average annual growth ...
The Economist Intelligence Unit
Outlook for 2016-17 The main challenge facing the government in 2016-17 will be managing the recovery from the devastation caused by Cyclone Pam, a category five storm that swept through the archipelago ...