Chamber of Deputies:
last held 4 December 1992 (next to be held 5 December 1993); results - AD
43.7%, COPEI 31.4%, MAS 10.3%, other 14.6%; seats - (201 total) AD 97, COPEI
67, MAS 18, other 19
Executive branch:
president, Council of Ministers (cabinet)
Legislative branch:
bicameral Congress of the Republic (Congreso de la Republica) consists of an
upper chamber or Senate (Senado) and a lower chamber or Chamber of Deputies
(Camara de Diputados)
Judicial branch:
Supreme Court of Justice (Corte Suprema de Justicia)
Leaders:
Chief of State and Head of Government:
Interim President Ramon Jose VELASQUEZ (since 5 June 1993); note - President
Carlos Andres PEREZ suspended pending trial on corruption charges
Member of: AG, CARICOM (observer), CDB, CG, ECLAC, FAO, G-3, G-11, G-15, G-19, G-24,
G-77, GATT, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, IFAD, IFC, ILO, IMF, IMO,
INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, LAES, LAIA, LORCS, MINURSO, NAM,
OAS, ONUSAL, OPANAL, OPEC, PCA, RG, UN, UNCTAD, UNESCO, UNHCR, UNIDO,
UNIKOM, UNPROFOR, UPU, WCL, WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation in US:
chief of mission:
Ambassador Simon Alberto CONSALVI Bottaro
chancery:
1099 30th Street NW, Washington, DC 20007
telephone:
(202) 342-2214
consulates general:
Baltimore, Boston, Chicago, Houston, Miami, New Orleans, New York,
Philadelphia, San Francisco, and San Juan (Puerto Rico)
US diplomatic representation:
chief of mission:
Ambassador Michael Martin SKOL
embassy:
Avenida Francisco de Miranda and Avenida Principal de la Floresta, Caracas
mailing address:
P. O. Box 62291, Caracas 1060-A, or APO AA 34037
telephone:
[58] (2) 285-2222
FAX:
[58] (2) 285-0336
consulate:
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

*Venezuela, Economy

Overview:
Petroleum is the backbone of the economy, accounting for 23% of GDP, 70% of
central government revenues, and 82% of export earnings in 1992. President
PEREZ introduced an economic readjustment program when he assumed office in
February 1989. Lower tariffs and the removal of price controls, a free
market exchange rate, and market-linked interest rates threw the economy
into confusion, causing an 8% decline in GDP in 1989. However, the economy
recovered part way in 1990 and grew by 10.4% in 1991 and 7.3% in 1992, led
by the non-petroleum sector.
National product:
GDP - exchange rate conversion - $57.8 billion (1992 est.)
National product real growth rate:
7.3% (1992 est.)
National product per capita:
$2,800 (1992 est.)
Inflation rate (consumer prices):
32% (1992 est.)
Unemployment rate:
8.4% (1992 est.)
Budget:
revenues $13.2 billion; expenditures $13.1 billion, including capital
expenditures of $NA (1992)
Exports:
$14.0 billion (f.o.b., 1992 est.)
commodities:
petroleum 82%, bauxite and aluminum, iron ore, agricultural products, basic
manufactures
partners:
US 50.7%, Europe 13.7%, Japan 4.0% (1989)
Imports:
$12.4 billion (f.o.b., 1992 est.)
commodities:
foodstuffs, chemicals, manufactures, machinery and transport equipment
partners:
US 44%, FRG 8.0%, Japan 4%, Italy 7%, Canada 2% (1989)
External debt:
$27.1 billion (1992)
Industrial production:
growth rate 11.9% (1992 est.); accounts for 25% of GDP, including petroleum
Electricity:
21,130,000 kW capacity; 58,541 million kWh produced, 2,830 kWh per capita
(1992)
Industries:
petroleum, iron-ore mining, construction materials, food processing,
textiles, steel, aluminum, motor vehicle assembly
Agriculture:
accounts for 6% of GDP and 16% of labor force; products - corn, sorghum,
sugarcane, rice, bananas, vegetables, coffee, beef, pork, milk, eggs, fish;
not self-sufficient in food other than meat
Illicit drugs:
illicit producer of cannabis and coca leaf for the international drug trade
on a small scale; however, large quantities of cocaine transit the country
from Colombia; important money-laundering hub
Economic aid:
US commitments, including Ex-Im (FY70-86), $488 million; Communist countries
(1970-89), $10 million
Currency:
1 bolivar (Bs) = 100 centimos

*Venezuela, Economy

Exchange rates:
bolivares (Bs) per US$1 - 80.18 (January 1993), 68.38 (1992), 56.82 (1991),
46.90 (1990), 34.68 (1989), 14.50 (fixed rate 1987-88)
Fiscal year:
calendar year

*Venezuela, Communications

Railroads:
542 km total; 363 km 1.435-meter standard gauge all single track, government
owned; 179 km 1.435-meter gauge, privately owned
Highways:
77,785 km total; 22,780 km paved, 24,720 km gravel, 14,450 km earth roads,
and 15,835 km unimproved earth
Inland waterways:
7,100 km; Rio Orinoco and Lago de Maracaibo accept oceangoing vessels
Pipelines:
crude oil 6,370 km; petroleum products 480 km; natural gas 4,010 km
Ports:
Amuay Bay, Bajo Grande, El Tablazo, La Guaira, Puerto Cabello, Puerto Ordaz
Merchant marine:
56 ships (1,000 GRT or over) totaling 837,375 GRT/1,344,795 DWT; includes 1
short-sea passenger, 1 passenger cargo, 19 cargo, 2 container, 4
roll-on/roll-off, 18 oil tanker, 1 chemical tanker, 2 liquefied gas, 6 bulk,
1 vehicle carrier, 1 combination bulk
Airports:
total:
360
usable:
331
with permanent-surface runways:
133
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
15
with runways 1,220-2,439 m:
87
Telecommunications:
modern and expanding; 1,440,000 telephones; broadcast stations - 181 AM, no
FM, 59 TV, 26 shortwave; 3 submarine coaxial cables; satellite ground
stations - 1 Atlantic Ocean INTELSAT and 3 domestic

*Venezuela, Defense Forces

Branches:
National Armed Forces (Fuerzas Armadas Nacionales, FAN) includes - Ground
Forces or Army (Fuerzas Terrestres or Ejercito), Naval Forces (Fuerzas
Navales or Armada), Air Forces (Fuerzas Aereas or Aviacion), Armed Forces of
Cooperation or National Guard (Fuerzas Armadas de Cooperation or Guardia
Nacional)
Manpower availability:
males age 15-49 5,192,107; fit for military service 3,769,441; reach
military age (18) annually 221,043 (1993 est.)
Defense expenditures:
exchange rate conversion - $1.95 billion, 4% of GDP (1991)

*Vietnam, Geography