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| *Travel Tips>>>Venezuela Travel Tips |
What are Venezuela's Imports and exports? |
Travel Info What are Venezuela's Imports and exports? Travel Tips The have one export - Black, Slimy Guuk which represents about 95% of all exports. There may also be a bit of Ron Anejo Rum. They import everything except perishable goods. Others Venezuela remains highly dependent on oil revenues, which account for roughly 90% of export earnings, more than 50% of the federal budget revenues, and around 30% of GDP. Tax collection - Venezuela's primary source of non-oil revenue - is expected to surpass $23 billion in 2006, exceeding the yearend collection goal by more than 20%. A nationwide strike between December 2002 and February 2003 had far-reaching economic consequences - real GDP declined by around 9% in 2002 and 8% in 2003 - but economic output since then has recovered strongly. Fueled by higher oil prices, record government spending helped to boost GDP growth in 2004 and 2005 to approximately 18% and 11%, respectively. Economic growth in 2006 reached about 9%. This spending, combined with recent minimum wage hikes and improved access to domestic credit, has fueled a consumption boom - car sales in 2006 increased by around 70% - but has come at the cost of higher inflation. Despite government attempts to withdraw liquidity from the economy, Venezuela's money supply set a record in June 2006, approximately 70% higher than the previous year. Imports have also jumped significantly. Oil - exports: 2.1 million bbl/day (2004 est.) Exports: $69.23 billion f.o.b. (2006 est.) Exports - commodities: petroleum, bauxite and aluminum, steel, chemicals, agricultural products, basic manufactures Exports - partners: US 50.9%, Netherlands Antilles 7.2%, Canada 2.4% (2005) Imports: $28.81 billion f.o.b. (2006 est.) Imports - commodities: raw materials, machinery and equipment, transport equipment, construction materials Imports - partners: US 31.6%, Colombia 11%, Brazil 9.1%, Mexico 6.9% (2005) |
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