Crude Petroleum.
Exports The top exports of Venezuela are Crude Petroleum ($12.2B), Refined Petroleum ($761M), Acyclic Alcohols ($337M), Gold ($235M), and Iron Reductions ($161M), exporting mostly to India ($4.98B), China ($4.19B), United States ($1.82B), Spain ($821M), and Malaysia ($558M).
Contents
What is Venezuela’s biggest resource?
Apart from petroleum, the country’s natural resources include natural gas, iron ore, gold, bauxite, diamonds and other minerals. The national currency is the bolivar.
Venezuela’s Independence Day.
| Population (million inhabitants) | 32.25 |
|---|---|
| Proven crude oil reserves (million barrels) | 303,806 |
What is Venezuela’s biggest import?
Venezuela main imports are: electronics (32 percent of total imports), chemical products (18 percent), agricultural products and livestock (11 percent), base metals (8 percent) and food, beverages and tobacco (6 percent).
What is Venezuela main product?
The main agricultural products of the country are corn, soy, sugar cane, rice, cotton, bananas, vegetables, coffee, cocoa, beef and pork meat, milk, eggs and fish. However, Venezuela enjoys important natural resources, such as petroleum (their main natural resource), gas, gold and silver mines, bauxite and diamonds.
Does Venezuela import or export more?
U.S.-Venezuela Trade Facts
Exports were $3.6 billion; imports were $2.1 billion. The U.S. goods and services trade surplus with Venezuela was $1.6 billion in 2019.
What are 3 major industries in Venezuela?
The main industrial activities revolve around the petroleum sector – which is controlled by a State company, and represents the first natural wealth of the country. Additionally, other important industries are construction equipment, food, textile, iron, steel, aluminium and engine parts assembly.
What is Venezuela famous for?
It has the world’s largest known oil reserves and has been one of the world’s leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues.
What are Venezuela’s biggest exports and imports?
Traditionally, petroleum represents more than 85% of Venezuela’s exports. Other exports include gold (8.6%), acyclic alcohols (1.6%), aluminium (0.5%), iron ores (0.5%), and crustaceans (0.2%). The country mainly imports refined petroleum (42.3%), corn (2.9%), rice (2.7%), wheat (2.6%), and soybean oil (2.1%).
What are Venezuela’s major exports and imports?
Economy of Venezuela
| Statistics | |
|---|---|
| Exports | $32.08 billion (2017) |
| Export goods | Petroleum, chemicals, agricultural products and basic manufactures |
| Main export partners | United States 42% China 23% India 19% Singapore 4.5% Spain 1.4% (2017) |
| Imports | $9.1 billion (2017) |
Does Venezuela import rice?
Imports of rice in Venezuela amounted to 515 thousand metric tons in marketing year (MY) 2018/29, up from 400 thousand tons in the previous year. Imports are forecast to decrease in the following years, reaching 450 thousand tons in MY 2020/21.
What is Venezuela’s main cash crop?
Venezuela’s main cash crop is coffee, and its staple food crops are corn (maize) and rice.
What is Venezuela main source of income?
oil sector
The oil sector is the dominant force in Venezuela. The sector represents 80 percent of exports and is the largest source of foreign currency. Depending on the oil price, the sector delivers 40 to 70 percent of the government’s income, and it is the biggest contributor to the fiscal sector.
Why is the Venezuelan economy so bad?
The country was once considered the richest in Latin America, thanks to having the largest oil reserves in the world. But more than a decade of declining oil revenue and poor governance led to the collapse of the national economy, and the government has not been able to provide adequate social services.
What does the US buy from Venezuela?
U.S. imports from Venezuela totaled $167 million in 2020, down from $1.9 billion in 2019. U.S. exports to Venezuela have historically included petroleum and refined petroleum products, machinery, organic chemicals, and agricultural products.
What are 5 interesting facts about Venezuela?
10 Fun Facts about Venezuela
- #1 Venezuela is home to the world’s largest rodent.
- #2 It’s a place where traditional toys get along with modern playing trinkets.
- #3 Colorful neighbors of Caracas.
- #4 It is a country where not all of the mountains have a peak.
- #5 Home to the world’s highest waterfall.
What does Jamaica import from Venezuela?
| Jamaica Imports from Venezuela | Value | Year |
|---|---|---|
| Stone, plaster, cement, asbestos, mica or similar materials | $144.47K | 2019 |
| Machinery, nuclear reactors, boilers | $124.72K | 2019 |
| Milling products, malt, starches, inlin, wheat gluten | $78.85K | 2019 |
| Vehicles other than railway, tramway | $68.16K | 2019 |
What is the main job in Venezuela?
In Venezuela the main industries are oil, food processing, construction materials, textiles, mining, steel, and tourism. Any expats who are considering working in Venezuela will need to get a work permit.
Is Venezuela a third world country?
“Third World” lost its political root and came to refer to economically poor and non-industrialized countries, as well as newly industrialized countries.
Third World Countries 2021.
| Country | Human Development Index | 2021 Population |
|---|---|---|
| Lebanon | 0.757 | 6,769,146 |
| Azerbaijan | 0.757 | 10,223,342 |
| Brazil | 0.759 | 213,993,437 |
| Venezuela | 0.761 | 28,704,954 |
How many Venezuelans are in poverty?
The 2020-2021 National Survey of Living Conditions (ENCOVI), conducted by researchers at Andres Bello Catholic University (UCAB), found that of the country’s 28 million residents, 76.6% live in extreme poverty, up from 67.7% last year.
Is Coke Zero banned in Venezuela?
CARACAS (Reuters) – The Venezuelan government of U.S.-critic President Hugo Chavez on Wednesday ordered Coca-Cola Co to withdraw its Coke Zero beverage from the South American nation, citing unspecified dangers to health.
What are 3 interesting facts about Venezuela?
Fun Facts about Venezuela for Kids
- Population: 29 million people live in Venezuela (2021)
- Capital: Caracas with 3 million inhabitants.
- Name: Bolivarian Republic of Venezuela.
- Government: federal presidential republic.
- Official Language: Spanish.
- Religion: more than 95% are Christians.
