ng revenues.
Venezuelan officials estimate that GDP grew by 3.2% in 2000. A
strong rebound in international oil prices fueled the recovery from
the steep recession in 1999. Nevertheless, a weak nonoil sector and
capital flight undercut the recovery. The bolivar is widely believed
to be overvalued by as much as 50%. The government is still
rebuilding after massive flooding and landslides in December 1999
caused an estimated $15 billion to $20 billion in damage.

GDP: purchasing power parity - $146.2 billion (2000 est.)

GDP - real growth rate: 3.2% (2000 est.)

GDP - per capita: purchasing power parity - $6,200 (2000 est.)

GDP - composition by sector: agriculture: 5%

industry: 24%

services: 71% (1999 est.)

Population below poverty line: 67% (1997 est.)

Household income or consumption by percentage share: lowest 10%:
1.5%

highest 10%: 35.6% (1995)

Inflation rate (consumer prices): 13% (2000)

Labor force: 9.9 million (1999)

Labor force - by occupation: services 64%, industry 23%, agriculture
13% (1997 est.)

Unemployment rate: 14% (2000 est.)

Budget: revenues: $26.4 billion

expenditures: $27 billion, including capital expenditures of $NA
(2000 est.)

Industries: petroleum, iron ore mining, construction materials, food
processing, textiles, steel, aluminum, motor vehicle assembly

Industrial production growth rate: NA

Electricity - production: 81.215 billion kWh (1999)

Electricity - production by source: fossil fuel: 32.16%

hydro: 67.84%

nuclear: 0%

other: 0% (1999)

Electricity - consumption: 75.53 billion kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

Agriculture - products: corn, sorghum, sugarcane, rice, bananas,
vegetables, coffee; beef, pork, milk, eggs; fish

Exports: $32.8 billion (f.o.b., 2000)

Exports - commodities: petroleum, bauxite and aluminum, steel,
chemicals, agricultural products, basic manufactures

Exports - partners: US and Puerto Rico 57%, Colombia, Brazil, Japan,
Germany, Netherlands, Italy (1999)

Imports: $14.7 billion (f.o.b., 2000)

Imports - commodities: raw materials, machinery and equipment,
transport equipment, construction materials

Imports - partners: US 53%, Japan, Colombia, Italy, Germany, France,
Brazil, Canada (1999)

Debt - external: $34 billion (2000)

Economic aid - recipient: $35 million with more assistance likely as
a result of flooding (1999)

Currency: bolivar (VEB