U, LAES, LAIA, Mercosur (associate),
MIGA, NAM, OAS, OPANAL, OPCW, OPEC, PCA, RG, UN, UNCTAD, UNESCO,
UNHCR, UNIDO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WToO, WTO

Diplomatic representation in the US:
chief of mission: Ambassador Bernardo ALVAREZ Herrera
chancery: 1099 30th Street NW, Washington, DC 20007
telephone: [1] (202) 342-2214
FAX: [1] (202) 342-6820
consulate(s) general: Boston, Chicago, Houston, Miami, New Orleans,
New York, San Francisco, and San Juan (Puerto Rico)

Diplomatic representation from the US:
chief of mission: Ambassador William R. BROWNFIELD
embassy: Calle F con Calle Suapure, Urbanizacion Colinas de Valle
Arriba, Caracas 1080
mailing address: P. O. Box 62291, Caracas 1060-A; APO AA 34037
telephone: [58] (212) 975-9234, 975-6411
FAX: [58] (212) 975-8991

Flag description:
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

Economy Venezuela

Economy - overview:
Venezuela continues to be highly dependent on the petroleum sector,
accounting for roughly one-third of GDP, around 80% of export
earnings, and over half of government operating revenues. A
disastrous two-month national oil strike from December 2002 to
February 2003, temporarily halted economic activity. The economy
remained in depression in 2003, declining by 9.2% after an 8.9% fall
in 2002. Despite continued domestic instability, output recovered
strongly in 2004, aided by high oil prices. Both inflation and
unemployment remain fundamental problems.

GDP (purchasing power parity):
$145.2 billion (2004 est.)

GDP - real growth rate:
16.8% (2004 est.)

GDP - per capita:
purchasing power parity - $5,800 (2004 est.)

GDP - composition by sector:
agriculture: 0.1%
industry: 46.5%
services: 53.4% (2004 est.)

Labor force:
12.25 million (2004 est.)

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

Unemployment rate:
17.1% (2004 est.)

Population below poverty line:
47% (1998 est.)

Household income or consumption by percentage share:
lowest 10%: 0.8%
highest 10%: 36.5% (1998)

Distribution of family income - Gini index:
49.5 (1998)

Inflation rate (consumer prices):
22.4% (2004 est.)

Investment (gross fixed):
12.9% of GDP (2004 est.)

Budget:
rev