Venezuela Location : Northern South America, bordering the Caribbean Sea and the North Atlantic Ocean, between Colombia and Guyana
Capital City : Caracas
Curreny : bolivar (VEB)
Languages Spoken : Spanish (official), numerous indigenous dialects
Climate : tropical; hot, humid; more moderate in highlands
National Holiday : Independence Day, 5 July (1811)
Background Information
Venezuela was one of the three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Colombia and Ecuador). For most of the first half of the 20th century, Venezuela was ruled by generally benevolent military strongmen, who promoted the oil industry and allowed for some social reforms. Democratically-elected governments have held sway since 1959. Current concerns include: an embattled president who is losing his once solid support among Venezuelans, a divided military, drug-related conflicts along the Colombian border, increasing internal drug consumption, overdependence on the petroleum industry with its price fluctuations, and irresponsible mining operations that are endangering the rain forest and indigenous peoples.
Geographical Note
on major sea and air routes linking North and South America; Angel Falls in the Guiana Highlands is the world's highest waterfall
Economy
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.
Religions
nominally Roman Catholic 96%, Protestant 2%, other 2%
Ports : Amuay, Bajo Grande, El Tablazo, La Guaira, La Salina, Maracaibo, Matanzas, Palua, Puerto Cabello, Puerto la Cruz, Puerto Ordaz, Puerto Sucre, Punta Cardon
International Disputes - Risks to travellers
: claims all of Guyana west of the Essequibo (river); maritime boundary dispute with Colombia in the Gulf of Venezuela; several Caribbean states protest Venezuela's claim to Islas des Aves (Bird Islands), 565 km from Venezuelan mainland
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