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Petroleum in Venezuela


Oil on Lake in Venezuela
Oil on Lake in Venezuela

The principal exports of Venezuela are petroleum and petroleum products, which together account for 93 percent of foreign sales. Other exports include bauxite and aluminum, steel, chemicals, agricultural products, and basic manufactures. Total exports were estimated at $69.2 billion in 2007.

Main imports include raw materials, machinery, transportation equipment, chemicals, foodstuffs, and basic manufactures. Imports were estimated at $45.5 billion in 2007.

Principal trading partners for exports are the United States, The Netherlands (primarily petroleum to the Netherlands Antilles for refining), Brazil, and Colombia. Chief sources of imports are the United States, Colombia, Brazil, Japan, and Mexico.

Venezuela is a member of five international trade organizations, the Andean Community, Latin American Integration Association (LAIA), Mercosur, Group of Three, and the Association of Caribbean States (ACS). These organizations work toward improving conditions within member countries by increasing economic integration and international trade.

Transportation


Roads are the principal means of transport for goods and people in Venezuela, and the country has an extensive road network. In 1999 Venezuela had 96,155 km (59,748 mi) of roads, of which 34 percent were paved. Highway density is greatest in the north central area.

The railway network, by contrast, is poorly developed. In 2007 the country had only 336 km (209 mi) of operated railroad track, principally a line from Puerto Cabello to Barquisimeto. The leading seaports of Venezuela include La Guaira, Puerto Cabello, and Maracaibo. Transport on interior waterways, particularly the Orinoco River, also is important. The main international airport is located in Caracas with others located in major cities such as Maracaibo and Barcelona. Venezuela has a number of passenger airlines based in the country. "Venezuela" © Emmanuel BUCHOT, Encarta, Wikipedia

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