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Venezuela was one of three countries that emerged from the collapse of Gran Colombia in 1830 (the others being Ecuador and New Granada, which became Colombia). 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. Hugo CHAVEZ, president since 1999, seeks to implement his "21st Century Socialism," which purports to alleviate social ills while at the same time attacking capitalist globalization and existing democratic institutions. Current concerns include: a weakening of democratic institutions, political polarization, a politicized military, drug-related violence 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.
sewage pollution of Lago de Valencia; oil and urban pollution of Lago de Maracaibo; deforestation; soil degradation; urban and industrial pollution, especially along the Caribbean coast; threat to the rainforest ecosystem from irresponsible mining operations
chief of state: President Hugo CHAVEZ Frias (since 3 February 1999); Executive Vice President Elias JAUA Milano (since 26 January 2010); note - the president is both the chief of state and head of government
head of government:
President Hugo CHAVEZ Frias (since 3 February 1999); Executive Vice President Elias JAUA Milano (since 26 January 2010)
cabinet:
Council of Ministers appointed by the president
elections:
president elected by popular vote for a six-year term (eligible for unlimited reelection); election last held on 3 December 2006 (next to be held in December 2012)
note:in 1999, a National Constituent Assembly drafted a new constitution that increased the presidential term to six years; an election was subsequently held on 30 July 2000 under the terms of this constitution; in 2009, a national referendum approved the elimination of term limits on all elected officials, including the presidency
election results:
Hugo CHAVEZ Frias reelected president; percent of vote - Hugo CHAVEZ Frias 62.9%, Manuel ROSALES 36.9%
unicameral National Assembly or Asamblea Nacional (167 seats; members elected by popular vote to serve five-year terms; three seats reserved for the indigenous peoples of Venezuela)
elections:
last held on 4 December 2005 (next to be held in 26 September 2010)
election results:
percent of vote by party - NA; seats by party - pro-government 167 (MVR 114, PODEMOS 15, PPT 11, indigenous 2, other 25), opposition 0; total seats by party as of 16 December 2009 - pro-government 156 (PSUV 141, PPT 5, PCV 4, other 6), PODEMOS 6, FPH 5
A New Time or UNT [Omar BARBOZA]; Brave People's Alliance or ABP [Oscar PEREZ]; Christian Democrats or COPEI [Luis Ignacio PLANAS]; Communist Party of Venezuela or PCV [Oscar FIGUERA]; Democratic Action or AD [Henry RAMOS Allup]; Fatherland for All or PPT [Jose ALBORNOZ]; For Social Democracy or PODEMOS [Ramon MARTINEZ]; Justice First [Julio BORGES]; Movement Toward Socialism or MAS [Felipe MUJICA]; United Socialist Party of Venezuela or PSUV [Hugo CHAVEZ]; Venezuela Project or PV [Henrique SALAS Romer]
FEDECAMARAS, a conservative business group; VECINOS groups; Venezuelan Confederation of Workers or CTV (labor organization dominated by the Democratic Action)
three equal horizontal bands of yellow (top), blue, and red with the coat of arms on the hoist side of the yellow band and an arc of eight white five-pointed stars centered in the blue band
Venezuela remains highly dependent on oil revenues, which account for roughly 90% of export earnings, about 50% of the federal budget revenues, and around 30% of GDP. A nationwide strike between December 2002 and February 2003 had far-reaching economic consequences - real GDP declined by around 9% in 2002 and 8% in 2003 - but economic output since then has recovered strongly. Fueled by high oil prices, record government spending helped to boost GDP by about 10% in 2006, 8% in 2007, and nearly 5% in 2008, before the world recession caused a contraction in 2009. This spending, combined with recent minimum wage hikes and improved access to domestic credit, has created a consumption boom but has come at the cost of higher inflation - roughly 20% in 2007 and more than 30% in 2008. Imports also jumped significantly before the recession of 2009. Declining oil prices in the latter part of 2008 are undermining the government's ability to continue the high rate of spending. President Hugo CHAVEZ in 2008-09 continued efforts to increase the government's control of the economy by nationalizing firms in the agribusiness, banking, tourism, oil, cement, and steel sectors. In 2007, he nationalized firms in the petroleum, communications, and electricity sectors. In January, 2010, CHAVEZ announced a dual exchange rate system for the fixed rate bolivar. The system offers a 2.6 bolivar per dollar rate for imports of essentials, including food, medicine, and industrial machinery, and a 4.3 bolivar per dollar rate for imports of other products, including cars and telephones.
bolivars (VEB) per US dollar - 2.145 (2009), 2.147 (2008), 2,147 (2007), 2,147 (2006), 2,089.8 (2005)
note:on 1 January 2008 Venezuela revalued its currency with 1000 old bolivares equal to 1 new bolivar; in January 2010 Venequela introduced a dual exchange rate system for the fixed rate bolivar, with 2.6 VEB per US dollar on essentials, and 4.3 VEB per US dollar on all other products
domestic:
domestic satellite system with 3 earth stations; recent substantial improvement in telephone service in rural areas; substantial increase in digitalization of exchanges and trunk lines; installation of a national interurban fiber-optic network capable of digital multimedia services; combined fixed and mobile-cellular telephone subscribership 125 per 100 persons
international:
country code - 58; submarine cable systems provide connectivity to the Caribbean, Central and South America, and US; satellite earth stations - 1 Intelsat (Atlantic Ocean) and 1 PanAmSat; participating with Colombia, Ecuador, Peru, and Bolivia in the construction of an international fiber-optic network (2007)
the International Maritime Bureau reports the territorial and offshore waters in the Caribbean Sea as a significant risk for piracy and armed robbery against ships; numerous vessels, including commercial shipping and pleasure craft, have been attacked and hijacked both at anchor and while underway; crews have been robbed and stores or cargoes stolen
National Bolivarian Armed Forces (Fuerza Armada Nacional Bolivariana, FANB): Bolivarian Army (Ejercito Bolivariano, EB), Bolivarian Navy (Armada Bolivariana (AB); includes Naval Infantry, Coast Guard, Naval Aviation), Bolivarian Military Aviation (Aviacion Militar Bolivariana, AMB), Bolivarian National Guard (Guardia Nacional Bolivaria, GNB), Bolivarian Militia (Milicia Bolivariana, MB) (2010)
18-30 years of age for compulsory and voluntary military service; 30-month conscript service obligation; all citizens 18-50 years old are obligated to register for military service (2008)
claims all of the area west of the Essequibo River in Guyana, preventing any discussion of a maritime boundary; Guyana has expressed its intention to join Barbados in asserting claims before the United Nations Convention on the Law of the Sea (UNCLOS) that Trinidad and Tobago's maritime boundary with Venezuela extends into their waters; dispute with Colombia over maritime boundary and Venezuelan-administered Los Monjes islands near the Gulf of Venezuela; Colombian-organized illegal narcotics and paramilitary activities penetrate Venezuela's shared border region; in 2006, an estimated 139,000 Colombians sought protection in 150 communities along the border in Venezuela; US, France, and the Netherlands recognize Venezuela's granting full effect to Aves Island, thereby claiming a Venezuelan EEZ/continental shelf extending over a large portion of the eastern Caribbean Sea; Dominica, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines protest Venezuela's full effect claim
current situation: Venezuela is a source, transit, and destination country for men, women, and children trafficked for the purposes of commercial sexual exploitation and forced labor; Venezuelan women and girls are trafficked within the country for sexual exploitation, lured from the nation's interior to urban and tourist areas; child prostitution in urban areas and child sex tourism in resort destinations appear to be growing; Venezuelan women and girls are trafficked for commercial sexual exploitation to Western Europe, Mexico, and Caribbean destinations
tier rating:
Tier 2 Watch List - Venezuela is placed on the Tier 2 Watch List, up from Tier 3, as it showed greater resolve to address trafficking through law enforcement measures and prevention efforts in 2007, although stringent punishment of offenders and victim assistance remain lacking (2008)
small-scale illicit producer of opium and coca for the processing of opiates and coca derivatives; however, large quantities of cocaine, heroin, and marijuana transit the country from Colombia bound for US and Europe; significant narcotics-related money-laundering activity, especially along the border with Colombia and on Margarita Island; active eradication program primarily targeting opium; increasing signs of drug-related activities by Colombian insurgents on border
The online Factbook is updated bi-weekly. ISSN 1553-8133
For additional information on government leaders in selected foreign countries, go to World Leaders.
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