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VenezuelaThis information is basically up to date as of 1994-1995. The present government in Venezuela has caused a downturn in many industries so some of the production figures are now much lower. The historical information is correct. Venezuela A South American republic, bounded on the north by the Caribbean Sea and Atlantic Ocean, on the east by Guyana, on the south by Brazil, and on the southwest and west by Colombia. The coastline of Venezuela is about 2800 km (about 1700 miles). Of the 72 islands off the coast that belong to Venezuela, Margarita is the largest and most important. The total area of Venezuela is 912,050 sq. km (352,144-sq miles). The capital and largest city is Caracas. Climate The climate of Venezuela ranges from tropical to temperate, depending on altitude. Temperature range in January in Caracas is 13oC. to 24oC. (56o to 75o F.) and 23oC. to 32oC. (73o to 90o F.) in Maracaibo; in July the range is 16oC. to 26oC. (61o to 78o F.) in Caracas and 24oC. to 34oC. (76o to 94o F.) in Maracaibo. Most precipitation falls from May through November. This is the winter or rainy season. Natural Resources Venezuela is rich in mineral resources, notably petroleum, natural gas, bauxite, gold, iron ore, copper, zinc, lead, and diamonds. Forests are also an important resource. Population About 67 percent of the population of Venezuela is made up of mestizos (people of mixed European and Native American ancestry), and some 21 percent is of white descent. The remainder is predominantly black, and about 2 percent of the total population is unmixed Native American. The society is 93 percent urban. Spanish is the official language of the country. The principal religion is Roman Catholicism. Population Characteristics The population (1995 estimate) is about 21,483,000, giving the country an overall population density of about 24 persons per sq. km (61 per sq. mi). Education Education in Venezuela is free and compulsory for children for ten years between the ages of 5 and 15. The adult literacy rate in the early 1990s was more than 88 percent. The country's 23,700 primary and preprimary schools had a total annual enrollment of some 4.9 million pupils and were staffed by more than 211,100 teachers; some 1500 secondary schools had an enrollment of more than 289,400 students. Economy The economy of Venezuela is built upon the nation's rich petroleum and mineral resources. Mining Petroleum, located in the Lake Maracaibo Basin and in the eastern part of the country, dominates the Venezuelan economy. Crude and refined oil are the main source of government revenue and account for about one quarter of GDP. Venezuela was the seventh largest producer of crude oil in the world in the early 1990s, when it produced about 863 million barrels annually. The Venezuelan government nationalized the petroleum industry in 1976, although private investment and foreign participation has been permitted since 1992. The country has petroleum reserves estimated at 78 billion barrels, including those in an oil field discovered in 1989, which increased known reserves by at least one third. The country also is a major producer of natural gas; output in the early 1990s was about 17.7 billion cu m (625 billion cu ft). Venezuela has tapped its vast reserves of bitumen to produce liquid coal, an emulsion of bitumen and water principally for use in power plants. Other commercially exploited minerals include bauxite, diamonds, gold, silver, platinum, coal, salt, copper, tin, asbestos, phosphates, titanium, and mica. Iron ore, in extensive deposits, was discovered near the Orinoco River in the 1940s. In the early 1990s about 18.9 million metric tons of iron ore annually were mined, most of which was exported. Margarita Island, off the northern coast, has substantial magnesite reserves. Manufacturing Since the early 1960s the government of Venezuela has given high priority to the development of the manufacturing sector of the economy. Founded in 1961 in an area rich in natural resources, Ciudad Guayana, in Bolívar state, is now a major center for industrial development. The leading manufactures of Venezuela include refined petroleum and petroleum products, steel, aluminum, fertilizer, cement, tires, motor vehicles, processed food, beverages, clothing, and wood items. Energy Much of Venezuela's electricity is produced in hydroelectric facilities, particularly at the Guri Dam, a major installation on the Caroní River. About 72 billion kilowatt-hours of electricity was generated annually in Venezuela in the mid-1990s from an installed capacity of almost 19 million kilowatts. Currency The basic unit of currency is the Bolívar, consisting of 100 centimos (1,917 bolivars equal U.S.$1; July, 2004). This is the official rate but there is a parallel market. Foreign Trade The principal exports of Venezuela are petroleum and petroleum products, which together account for about 77 percent of foreign sales. Other exports include bauxite and aluminum, steel, chemicals, agricultural products, and basic manufactures. Total annual exports were estimated at $15.2 billion in 1994. Main imports include raw materials, machinery, transportation equipment, chemicals, foodstuffs, and basic manufactures. Imports were estimated at $7.6 billion in 1994. Principal trading partners for exports are the United States, Japan, the Netherlands (primarily petroleum to the Netherlands Antilles for refining), and Italy. Chief sources of imports are the United States (which represents 50 percent of the total sales), Germany, Japan, the Netherlands, and Canada. Venezuela is a member of four international trade organizations, the Andean Group, Latin American Integration Association (LAIA), Group of Three, and the Association of Caribbean States (ACS). These organizations work towards improving conditions within member countries by increasing economic integration and international trade. Labor In the early 1990s the employed labor force of Venezuela was estimated at some 7.4 million people. About 12 percent of the workforce was employed in agriculture, 41 percent in services, 26 percent in manufacturing and industry, and 21 percent in commerce. Organized labor in Venezuela consists of trade unions and peasant leagues. The largest and most powerful organization is the Confederation of Venezuelan Workers, with a membership of about 1.5 million. Government Venezuela is a federal republic governed under a constitution adopted in 1999. The government is democratically elected. The President is Hugo Rafael Chávez. History The coast of Venezuela was first sighted by Christopher Columbus in 1498, and settlement in the country was begun by the Spanish in 1520; the first important settlement was that of Caracas in 1567. Until the Viceroyalty of New Granada was established in 1717, what is now Venezuelan territory was divided between the Viceroyalty of Peru and the Audiencia of Santo Domingo. The Superintendency of Venezuela, more or less the present territory, was created in 1783. In 1728 the Spanish government chartered the Guipuzcoana Company and gave it a monopoly of trade in Venezuela, with the additional duties of patrolling the coast to prevent smuggling. The company was very unpopular and did much to stir up political discontent in the colony. Independence The history of the war of independence against Spain in Venezuela is largely the record of the careers of Simón Bolívar and Francisco de Miranda. The revolution began in 1810 and independence was formally proclaimed on July 5, 1811. In 1819 the republic of Gran Colombia was established, with its capital in Bogota. Gran Colombia included what are now Venezuela, Ecuador, Colombia, and Panama. Independence was assured with the decisive victory of Bolívar over the Spanish royalist army in 1821. Venezuela constituted itself an independent republic in 1829.
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