Diplomatic representation in the US: Ambassador Designate Roy CHADERTON
Matos chancery: Chicago, Houston, Miami, New Orleans, New York, San
Francisco, and San Juan (Puerto Rico) FAX: [1] (202) 342-6820 telephone:
[1] (202) 342-2214
Diplomatic representation from the US: chief of mission: Ambassador Charles SHAPIRO embassy: Calle F con Calle Suapure, Urbanizacion Colinas de Valle Arriba, Caracas 1080 mailing address: P. O. Box 62291, Caracas 1060-A; APO AA 34037 telephone: [58] (0212) 975-9234, 975-6411 FAX: [58] (0212) 975-8991
Flag description: 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 Venezuela
Economy - overview: The petroleum sector dominates the economy, accounting for roughly a third of GDP, around 80% of export earnings, and more than half of government operating revenues. Venezuelan officials estimate that GDP grew by 2.7% in 2001. A strong rebound in international oil prices fueled the recovery from the steep recession in 1999. Nevertheless, a weak nonoil sector and capital flight - and a temporary fall in oil prices - undercut the recovery. In early 2002, President CHAVEZ changed the exchange rate regime from a crawling peg to a free floating exchange rate, causing the bolivar to depreciate significantly.
GDP: purchasing power parity - $146.2 billion (2001 est.)
GDP - real growth rate: 2.7% (2001 est.)
GDP - per capita: purchasing power parity - $6,100 (2001 est.)
GDP - composition by sector: agriculture: 5% industry: 40% services: 55% (2001 est.)
Population below poverty line: 67% (1997 est.)