s:
FEDECAMARAS, a conservative business group; Venezuelan Confederation of
Workers, the Democratic Action - dominated labor organization
Member of:
AG, CDB, CG, ECLAC, FAO, G-3, G-11, G-19, G-24, G-77, GATT, IADB, IAEA,
IBRD, ICAO, ICC, ICFTU, IFAD, IFC, ILO, IMF, IMO, INTELSAT, INTERPOL, IOC,
IOM, ISO, ITU, LAES, LAIA, LORCS, NAM, OAS, OPANAL, OPEC, PCA, RG, UN,
UNCTAD, UNESCO, UNHCR, UNIDO, UPU, WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation:
Ambassador Simon Alberto CONSALVI Bottaro; Chancery at 1099 30th Street NW,
Washington, DC 20007; telephone (202) 342-2214; there are Venezuelan
Consulates General in Baltimore, Boston, Chicago, Houston, Miami, New
Orleans, New York, Philadelphia, San Francisco, and San Juan (Puerto Rico)
US:
Ambassador Michael Martin SKOL; Embassy at Avenida Francisco de Miranda and
Avenida Principal de la Floresta, Caracas (mailing address is P. O. Box
62291, Caracas 1060-A, or APO AA 34037); telephone [58] (2) 285-2222; FAX
[58] (2) 285-0336; there is a US Consulate in Maracaibo
Flag:
three equal horizontal bands of yellow (top), blue, and red with the coat of
arms on the hoist side of the yellow band and an arc of seven white
five-pointed stars centered in the blue band

:Venezuela Economy

Overview:
Petroleum is the cornerstone of the economy and accounted for 23% of GDP,
80% of central government revenues, and 80% of export earnings in 1991.
President PEREZ introduced an economic readjustment program when he assumed
office in February 1989. Lower tariffs and price supports, a free market
exchange rate, and market-linked interest rates threw the economy into
confusion, causing an 8% decline in GDP in 1989. However, the economy
recovered part way in 1990, and grew by 9.2% in 1991, led by the petroleum
sector.
GDP:
exchange rate conversion - $52.3 billion, per capita $2,590; real growth
rate 9.2% (1991 est.)
Inflation rate (consumer prices):
30.7% (1991 est.)
Unemployment rate:
9.3% (1991 est.)
Budget:
revenues $13.2 billion; expenditures $13.1 billion, including capital
expenditures of $NA (1991)
Exports:
$15.1 billion (f.o.b., 1991 est.)
commodities:
petroleum 80%, bauxite and aluminum, iron ore, agricultural products, basic
manufactures
partners:
US 50.7%, Europe 13.7%, Japan 4.0% (1989)
Imports:
$10.2 billion (f.o.b., 1991