Aerial view toward Caracas downtown, Venezuela
Auto Show of Caracas 20132013
Caracas stock exchange building

Overall Economic Situation
Venezuela is located in the north of South America. It borders Colombia to the west, Guyana to the east, Brazil to the south and the Caribbean Sea in the north. It has some of the largest oil and natural gas reserves in the world, and is also rich in mineral resources including diamonds, uranium and limestone. The country also possesses abundant water and forestry resources. The petroleum industry is the mainstay of the economy, with relatively fast growth in metallurgy, mining, electricity, manufacturing,construction, petro-chemical and textile and clothing industries.

Business Opportunities
Major industries include petroleum, iron ore, construction, aluminium refinery, electricity, automobile assembly, food processing, textile and clothing.

Agricultural, animal husbandry and fisheries industries
There is a total of 2,707 hectares of land engaged in agricultural and forestry production, including 268 hectares of arable land and 1,379 hectares of grazing land.

Service Industry
Commercial output value amounted at 9.61%, communications industry valued at 6.57% and finance and insurance industry valued at 4.37% of the GDP respectively.

Tourism Industry
Tourists mainly come from Europe, the US and other parts of Latin America. There are 2,461 tourist facilities in the country with famous attractions including Angel Falls and Margarita Island.

Gross Domestic Product(US$ billion) 407.4
Real GDP growth (%) 1.6
GDP per capital(US$) 13,600
Inflation(%) 56.2
Land area(sq km) 912,050
Population (Million) 28.87

Source: CIA-The World Factbook,

Foreign Trade from 2009 to 2013

(unit: US$ Billions)
Total Trade
2013 151.1 91.78 59.32
2012 156.65 97.34 59.31
2011 139.05 92.61 46.44
2010 96.24 64.87 31.37
2009 96.04 57.6 38.44

Major Export Commodities: petroleum, bauxite and aluminum, minerals, chemicals, agricultural products, basic manufactures
Main Import Commodities: agricultural products, livestock, raw materials, machinery and equipment, transport equipment, construction materials, medical equipment, pharmaceuticals, chemicals, iron and steel products
1.CIA-The World Factbook,
2.Index Mundi-Country Fact,

Main Destinations for Exports (2012) %
US 39.1
China 14.3
Netherlands Antilles 7.8
Cuba 4.6
Main Origin for Imports (2012) %
US 31.7
China 16.8
Brazil 9.1
Colombia 4.8


(US$100 million)
Year Total Exports Imports
2012 238.3 93.04 145.27
2011 181.7 65.2 116.5

1. Ministry of Commerce of the People’s Republic of China,


Type of Trade Weight (KG) Patacas
Imports 5 1,610
Exports 151 248,315

Source: The Statistics and Census Service,

1. The Ministry of Foreign Affairs of the People’s Republic of China
2. The Ministry of Commerce of the People’s Republic of China
3. The Economic and Commercial Counselor’s Office of the Embassy of the
People’s Republic of China in the Republic Bolivariana of Venezuela
4. The Statistics and Census Service
5. The World Factbook