Country Profile

Situated on the northern coast of the south america, venezuela is the home for 26,414,815 people. It is the entrusted founder of the organization of petroleum exporting countries (OPEC). The continental mainland and islands are situated near the coastline of venezuela in the caribbean sea. It is blessed with natural resources of petroleum, natural gas, iron ore, gold, diamonds and other minerals which are proving to be an incredible force in furbishing country's economic growth. The constant efforts of government has driven the literacy rate to 93.3% in male group and 92.7% in female section. The country's GDP has reached to $335 billion with a 8.3% real growth rate. The service sector (around 64% ) has contributed major share in GDP, followed by industry (23%) and agriculture (13%). Venezuela's oil export reserve has crossed the mark of 2.203 million bbl/day with a total export accounts to around $65.94 billion. The country is positioned on 74th rank in the human development index.

Snapshot

Economic Overview

• 4th worldwide largest oil exporter.
• 7th largest worldwide oil producer.
• One of the biggest limestone and dolomite producer.
• Petroleum industry is the major income generator in the economy which accounts to nearly 75% of the export reserves.
• 4th leading imported crude and refined petroleum products supplier to USA.
• One of the leading natural gas producer in throughout the world.

International Trade
Major Export Items
Petroleum, Bauxite and Aluminum, Steel, Chemicals, Agricultural Products

Main Destinations of Exports
USA, Brazil, Colombia, Italy, Spain, Netherlands

Major Import Items
Raw Materials, Machinery and Equipment, Transport Equipment, Construction Materials

Main Origins of Imports
USA, Colombia, Brazil, Germany, Italy, Panama, China

Contacts of Trade Ministries/ Associations

Business Visa Rules

• Valid passport with 6 months validity remaining.
• 2 recent photos with front view of 2x2 size.
• A complete visa application form duly signed by an applicant..
• Proof of sound financial stability showing that the applicant is capable of meeting expenses which will incur while stay in venezuela. Like bank statement, credit card, traveler cheques etc.
• Letter written on the company's letterhead detailing about applicant designation and purpose of visiting venezuela, is needed to be given to the embassy. It must be signed by competent authority of company other than the applicant itself.
• Visa is valid for up to 1 year.

Business Hours
Banks:    Monday to Friday from 08:30 - 15:30
                 

Public Holidays