October 2011
Bolivarian Rep. of Venezuela
                         
BASIC INDICATORS
Population (thousands, 2010)  28 834 Rank in world trade, 2010 Exports Imports
GDP (million current US$, 2010)  387 852 Merchandise  44 52
GDP (million current PPP US$, 2010)  344 753 excluding intra-EU trade 30 34
Current account balance (million US$, 2010)  14 378 Commercial services 99 54
Trade per capita (US$, 2008-2010)  4 459 excluding intra-EU trade 73 37
Trade to GDP ratio (2008-2010)   37.0
Annual percentage change
2010   2005-2010 2009 2010
Real GDP (2005=100)   118 3 -3 -2
Exports of goods and services (volume, 2005=100)   75 -6 -13 -2
Imports of goods and services (volume, 2005=100)   154 9 -20 5
                         
TRADE POLICY
WTO accession 1 January 1995 Contribution to WTO budget (%, 2011) 0.372
Trade Policy Review 27, 29 November 2002 Import duties collected (%, 2003-2005)
GPA accession  - in total tax revenue 8.7
Tariffs and duty free imports to total imports 6.3
Tariff binding coverage (%)    100.0 Number of notifications to WTO and measures in force 
MFN tariffs Final bound Applied 2010 Outstanding notifications in WTO Central Registry   74
Simple average of import duties Goods RTAs - services EIAs notified to WTO 2 - 0
All goods   36.5   12.5 Anti-dumping (30 June 2010) 2
Agricultural goods (AOA)   55.7   15.0 Countervailing duties (30 June 2010) 0
Non-agricultural goods   33.6   12.1 Safeguards (22 October 2010)   0
Non ad-valorem duties (% total tariff lines)   0.0   0.0 Number of disputes (complainant - defendant) 
MFN duty free imports (%, 2009) Requests for consultation 1 - 2
in agricultural goods (AOA)   0.0 Original panel / Appellate Body (AB) reports 1 - 0
in non-agricultural goods   1.7 Compliance panel / AB reports (Article 21.5 DSU) 0 - 0
Services sectors with GATS commitments   63 Arbitration awards (Article 22.6 DSU) 0 - 0
                         
MERCHANDISE TRADE  Value Annual percentage change
2010   2005-2010 2009 2010
Merchandise exports, f.o.b. (million US$)  65 786 3 -39 14
Merchandise imports, c.i.f. (million US$)  40 800 11 -18 1
2010  a 2010  a
Share in world total exports    0.43 Share in world total imports  0.26
Breakdown in economy's total exports Breakdown in economy's total imports
  By main commodity group (ITS)   By main commodity group (ITS)
Agricultural products   0.1 Agricultural products 16.3
Fuels and mining products   95.3 Fuels and mining products 2.3
Manufactures   2.2 Manufactures 81.1
  By main destination   By main origin
1. United States   0.9 1. United States   27.3
2. Colombia   0.7 2. European Union (27)   13.3
3. European Union (27)   0.6 3. Colombia   11.4
4. China   0.5 4. China   10.4
5. Mexico   0.4 5. Brazil   8.8
    Unspecified destinations     32.4       Unspecified origins     0.0
COMMERCIAL SERVICES TRADE  Value Annual percentage change
2010   2005-2010   2009 2010
Commercial services exports (million US$)  1 493   4 -10 -17
Commercial services imports (million US$)  10 081   14 -8 9
2010   2010
Share in world total exports   0.04   Share in world total imports 0.29
Breakdown in economy's total exports Breakdown in economy's total imports
  By principal services item   By principal services item
Transportation   37.4   Transportation 39.9
Travel   41.4   Travel 15.6
Other commercial services   21.2   Other commercial services 44.4
                         
INDUSTRIAL PROPERTY 
Patent grants by patent office, 2000 Trademark registrations by office, 2000
Residents Non-residents  Total  Direct residents Direct non-residents Madrid  Total 
  14   742   756  9 744  8 710 ...  18 454
                         
a  Breakdowns by destination/origin refer to 2009.