General background: Venezuela was one of the
three countries that emerged from the collapse of Gran
Colombia in 1830 (the others being Colombia and Ecuador).
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. Current concerns include: an embattled
president who is losing his once solid support among
Venezuelans, a divided military, drug-related conflicts
along the Colombian border, increasing internal drug
consumption, over dependence on the petroleum industry
with its price fluctuations, and irresponsible mining
operations that are endangering the rain forest and
indigenous peoples.
Area comparative:
Slightly more than twice the size of California.
Climate: Tropical; hot, humid; more moderate
in highlands.
Terrain: Andes Mountains
and Maracaibo Lowlands in northwest; central plains
(llanos); Guiana Highlands in southeast
Population: 24,287,670 (July 2002 est.)
Ethnic groups: Spanish, Italian, Portuguese,
Arab, German, African, indigenous people
Religions: Nominally Roman Catholic 96%, Protestant
2%, other 2%
Language: Spanish (official), numerous indigenous
dialects
Government type: Federal republic
Capital: Caracas
Legal system: Based on organic laws as of
July 1999; open, adversarial court system; has not
accepted compulsory ICJ jurisdiction.
Economic overview: The petroleum sector dominates
the economy, accounting for roughly a third of GDP,
around 80% of export earnings, and more than half
of government operating revenues. Venezuelan officials
estimate that GDP grew by 2.7% in 2001. A strong rebound
in international oil prices fuelled the recovery from
the steep recession in 1999. Nevertheless, a weak
no oil sector and capital flight - and a temporary
fall in oil prices - undercut the recovery. In early
2002, President CHAVEZ changed the exchange rate regime
from a crawling peg to a free-floating exchange rate,
causing the bolivar to depreciate significantly.
Communication/Telephone system: Modern and
expanding
Places of interest: Venezuela is a country of
striking natural beauty and dramatic contrasts. White-sand
beaches fringed with coconut palms lining the Caribbean
coast. South America's largest lake, Lake Maracaibo,
and third-longest river, the Orinoco, are also here,
and the country boasts the world's highest waterfall,
Angel Falls. It is also home to a wide variety of
exotic plants and animals, including the jaguar, ocelot,
tapir, armadillo, anteater, and the longest snake
in the world, the anaconda.
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