Spanish, indigenous 1.3, Portuguese 0.1, other 0.4
Economic Overview
Key economic indicators for Venezuela
GDP:
$269.068 billion
GDP per Capita:
$7,704
GDP Growth:
-19.67%
Inflation:
146,101.7%
Unemployment:
5.53%
Public Debt:
38.9% of GDP
Credit Rating:
SD (2017)
Political System
Governance structure of Venezuela
Government Type:
federal presidential republic
Head of State:
Notification Statement: the United States does not recognize Nicolas MADURO Moros as president of VenezuelaPresident Nicolas MADURO Moros (since 19 April 2013)
Head of Government:
President Nicolas MADURO Moros (since 19 April 2013)
Judiciary:
Supreme Tribunal of Justice (consists of 32 judges organized into constitutional, political-administrative, electoral, civil appeals, criminal appeals, and social divisions)
Administrative Divisions:
23 states (estados, singular - estado), 1 capital district* (distrito capital), and 1 federal dependency** (dependencia federal); Amazonas, Anzoategui, Apure, Aragua, Barinas, Bolivar, Carabobo, Cojedes, Delta Amacuro, Dependencias Federales (Federal Dependencies)**, Distrito Capital (Capital District)*, Falcon, Guarico, La Guaira, Lara, Merida, Miranda, Monagas, Nueva Esparta, Portuguesa, Sucre, Tachira, Trujillo, Yaracuy, Zulia
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
none
Major Alliances and Organizations
OAS
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
5% (2014 est.)
Industry
37.2% (2014 est.)
Services
51.7% (2014 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$83.401 billion
Imports:
$18.432 billion
Major Trading Partners
USA 50
China 10
Spain 9
Brazil 6
Turkey 5
Economic Outlook
Venezuela has a -19.67% GDP growth rate with 146,101.7% inflation. The economy is characterized by a strong agriculture sector.