x:
49.5 (1998)

Inflation rate (consumer prices):
31.1% (2003 est.)

Labor force:
11.38 million (2003)

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

Unemployment rate:
18% (2003 est.)

Budget:
revenues: $19.33 billion
expenditures: $24.34 billion, including capital expenditures of $2.6
billion (2003)

Public debt:
38.8% of GDP (2003)

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

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

Industrial production growth rate:
-15.4% (2003 est.)

Electricity - production:
87.6 billion kWh (2001)

Electricity - consumption:
81.47 billion kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
3.08 million bbl/day (2001 est.)

Oil - consumption:
505,000 bbl/day (2001 est.)

Oil - exports:
NA (2001)

Oil - imports:
NA (2001)

Oil - proved reserves:
63.95 billion bbl (1 January 2002)

Natural gas - production:
31.71 billion cu m (2001 est.)

Natural gas - consumption:
31.71 billion cu m (2001 est.)

Natural gas - exports:
0 cu m (2001 est.)

Natural gas - imports:
0 cu m (2001 est.)

Natural gas - proved reserves:
4.202 trillion cu m (1 January 2002)

Current account balance:
$9.659 billion (2003)

Exports:
$25.86 billion f.o.b. (2003 est.)

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

Exports - partners:
US 52.9%, Netherlands Antilles 5%, Dominican Republic 3% (2003)

Imports:
$10.71 billion f.o.b. (2003 est.)

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

Imports - partners:
US 28.8%, Colombia 7%, Brazil 6.6%, Mexico 4.3% (2003)

Reserves of foreign exchange & gold:
$20.67 billion (2003)

Debt - external:
$32.51 billion (2003)

Economic aid - recipient:
$74 million (2000)

Currency:
bolivar (VEB)

Currency code:
VEB

Exchange rates:
bolivares per US dollar - 1,607.79 (2003), 1,160.95 (2002), 723.666
(2001), 679.96 (2000), 605.717 (1999)

Fiscal year:
calendar year

Communications Venezuela

Telephones - main lines in use:
2,841,800 (2002)