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Overview OTHER LINKS
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• ►Main Export ■ Ease of doing business ■ Trade with Venezuela ■ Oil Partnerships ■ Key Partner = U.S.A. ■ Other Countries ■ Other Exports ◄ Oil generates about 90 percent of the country’s total export revenue, contributes about half of the central government’s income, and is responsible for about one-third of the country’s gross domestic product (GDP). In 2006, Chavez announced a nationalization of oil fields managed by foreign companies, which resulted in an increase of the government’s shares in these projects from 40 percent to 60 percent. Ease of Doing Business
Trade with Venezuela : 2010NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified.
Trade with Venezuela : 2009NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified.
Trade with Venezuela : 2008NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified.
Chevron works on onshore and offshore production projects in Venezuela. Through a partnership with Petróleos de Venezuela, S.A., Venezuela's national oil and natural gas company, Chevron is involved in five important projects in the country. In western Venezuela, Chevron participates in the nonoperated Petroboscan and Petroindependiente projects. Production consists of heavy and light crude oil, respectively. In eastern Venezuela, we are involved in the Petropiar operation, which produces extra-heavy crude oil and upgrades it into synthetic crude. Chevron’s offshore gas operations include exploration efforts at Cardon III. In the Delta Caribe project, Chevron was invited to participate in the country's first liquefied natural gas train. Chevron operates Block 2 of the Plataforma Deltana that is scheduled to deliver gas to this train. All of Chevron’s operations are accompanied by sustainable community engagement projects that enable growth in the areas where we work. Chevron also makes significant contributions to education, health, social and cultural programs. Key Partner = United States The United States is Venezuela’s largest trading partner, accounting for some 45% of Venezuela’s US$97.4 billion in overall global trade transactions during 2006. America generated 46.2% of exports delivered to Venezuela, followed by Netherlands Antilles (13.5%) and China (3.2%). The U.S. was also the largest import destination, receiving 30.6% of Venezuelan shipments. Colombia (10.2%), Brazil (10.1%), Mexico (5.9%), China (4.9%) and Panama (4.8%) are also major importers of products from Venezuela. Updated: March 2010 Venezuelan Exports to U.S.With a population of 26 million, Venezuela exported US$37.2 billion worth of merchandise to the United States in 2006, up 9.4% from 2005 and up 146.2% in 4 years.
Fastest-Growing Venezuelan Exports to U.S.Below are American imports from Venezuela in 2006 with the highest percentage sales increases from 2005.
Other Countries involvement in Venezuela In 2002, Venezuela received almost no foreign investment, and in each of the two following years, the country attracted less than one billion dollars from abroad. In 2010, Argentina said it secured an agreement with China for the Asian giant to invest $10 billion in the South American country's railways, Beijing's latest move to extend its influence in Latin America through multibillion-dollar energy and infrastructure deals.
As one president of a Venezuelan company told the Globalist, “There
is not much investment because people do not trust the government.
Insecurity is really hurting the development of Venezuela.”
List of other key items exported from Venezuela:
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