e by party NA;
seats--(49 total) AD 23, COPEI 22, others 4;

Chamber of Deputies--last held 4 December 1988
(next to be held December 1993);
results--AD 43.7%, COPEI 31.4%, MAS 10.3%, others 14.6%;
seats--(201 total) AD 97, COPEI 67, MAS 18, others 19

Communists: 10,000 members (est.)

Other political or pressure groups: FEDECAMARAS, a conservative
business group; Venezuelan Confederation of Workers, the Democratic
Action-dominated labor organization

Member of: Andean Pact, AIOEC, FAO, G-77, Group of Eight, IADB, IAEA,
IBRD, ICAO, ICO, IDB--Inter-American Development Bank, IFAD, IFC, IHO, ILO, IMF,
IMO, INTELSAT, INTERPOL, IPU, IRC, ITU, IWC--International Wheat Council, LAIA,
NAM, OAS, OPEC, PAHO, SELA, WFTU, UN, UNESCO, UPU, WHO, WMO, WTO

Diplomatic representation: Ambassador Simon Alberto CONSALVI
Bottaro; Chancery at 2445 Massachusetts Avenue NW, Washington DC 20008;
telephone (202) 797-3800; 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-designate Eric JAVITS; 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 Miami 34037);
telephone p58o (2) 284-6111 or 7111; 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

- Economy
Overview: Petroleum is the cornerstone of the economy and accounted
for 17% of GDP, 52% of central government revenues, and 81% of export
earnings in 1988. 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 have thrown the economy into confusion, causing about an 8%
decline in GDP.

GDP: $52.0 billion, per capita $2,700; real growth rate - 8.1%
(1989 est.)

Inflation rate (consumer prices): 80.7% (1989)

Unemployment rate: 7.0% (1988)

Budget: revenues $8.4 billion; expenditures $8.6 billion,
including capital expenditures of $5.9 billion (1989)

Exports: $10.4 billion (f.o.b., 1988); commodities--petroleum
81%, bauxite and aluminum, iron ore, agricultural products, basic manufactures;
partners--US 50.3%, FRG 5.3%, Japan 4.1% (1