Venezuela - Bolivarian Republic of Venezuela

Venezuela - Bolivarian Republic of Venezuela

Bolivarian Republic of Venezuela is a tropical country on the northern coast of South America.

It borders Colombia to the west, Guyana to the east, and Brazil to the south. Its northern coastline includes numerous islands in the Caribbean Sea, and borders the northern Atlantic Ocean Caribbean islands such as Trinidad and Tobago, Grenada, Curaçao, and Aruba in the north east, while the Leeward Antilles also lie near the Venezuelan coast.

Venezuela's natural resources boast a vast economic potential for the country. The petroleum sector dominates central government revenue, accounting for 50% of the total revenue and over 90% of exports. It has the world's largest conventional oil reserves outside the Middle East and also one of the largest natural gas reserves in the world.

Major industries of Venezuela are oil, gas, telecommunications, consumer goods, mining, and agriculture.

 


Major Indicators

Data Source: GECF Annual Statistical Bulletin 2024

Population (inhabitants) 33.24 Million
Capital Caracas
Continent South America
Language(s) Spanish (official), numerous indigenous dialects
National currency Venezuelan Bolivar
Time Zone GMT-4
GDP (current billion US$) 119.80
Proven natural gas reserves (bcm) 5,511
Natural gas marketed production (bcm) 24
Domestic natural gas consumption (bcm) 12
79342965-57479954
HE Delcy Eloina Rodriguez Gomez
Minister of the People's Power of Petroleum
79342965-57479954
Eng Ronny Rafael Romero Rodriguez
EB member
79342965-57479954
Mr José Agustín Ruiz
TEC member & SEDAS

Links

Ministry of People's Power for Petroleum