International Security Bulletin

Venezuela

Bolivarian Republic of Venezuela

Capital: Caracas

The Venezuela Bulletin

Weekly Brief: April 6, 2015

Top Story Parties negotiating limits on Iran’s nuclear program announced a framework agreement on Thursday, which they intend to finalize by the end of June. The talks had intensified ahead of a March 31 soft deadline for a deal. By Monday, three primary sticking points remained: the process of lifting restrictions on Iran’s nuclear program after 10 years, […]

History

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 from 1999 to 2013, sought to implement his "21st Century Socialism," which purported 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, rampant violent crime, overdependence on the petroleum industry with its price fluctuations, and irresponsible mining operations that are endangering the rain forest and indigenous peoples.

Geography

Metric Units

Total Area 912,050 sq km
Land Boundaries 4,993 km
Border Countries Brazil 2,200 km, Colombia 2,050 km, Guyana 743 km
Coastline 2,800 km
Terrain Andes Mountains and Maracaibo Lowlands in northwest; central plains (llanos); Guiana Highlands in southeast
Minimum Elevation 0 m
Maximum Elevation 5,007 m
Climate tropical; hot, humid; more moderate in highlands
Natural Resources petroleum, natural gas, iron ore, gold, bauxite, other minerals, hydropower, diamonds
Arable Land 2.85%
Permanent Crops 0.71%

Economy

Gross Domestic Product $402.1 billion
GDP (per capita) $13,200
GDP Growth 5.7%
Unemployment Rate 8%
Population in Poverty 31.6%
GINI Index 39

Budget & Debt

Expenditures $175.3 billion
Revenue $116.3 billion
Current Account Balance $20.6 billion
External Debt $63.74 billion

Trade

Exports $96.9 billion
Export Items petroleum, bauxite and aluminum, minerals, chemicals, agricultural products, basic manufactures
Export Partners US 40.2%, China 10.5%, India 5.5%, Cuba 4% (2011)
Imports $56.69 billion
Import Items agricultural products, livestock, raw materials, machinery and equipment, transport equipment, construction materials, medical equipment, pharmaceuticals, chemicals, iron and steel products
Import Partners US 28.6%, China 15.1%, Brazil 10.6% (2011)

People

Population 28,459,085
Population Growth 1.44%
Ethnic Groups Spanish, Italian, Portuguese, Arab, German, African, indigenous people
Religion nominally Roman Catholic 96%, Protestant 2%, other 2%
Life Expectancy 74.23 years
Infant Mortality 0.98 deaths/1,000 live births
Maternal Mortality 1.7 deaths/100,000 live births

Energy

Electricity Production 127.6 billion kWh
Electricity Consumption 85.05 billion kWh
From Fossil Fuels 35.7%
From Nuclear 0%
From Hydroelectric 64.3%
From Renewable Sources 0%