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About Venezuela

Venezuela, Officially known as the Bolivarian Republic of Venezuela is a country in the Northern region of South America. The country was previously a Spanish Colony.

Previously an Agrarian Economy, Venezuela quickly rose to a strong economy with the discovery of Oil in the region. This became a boon as well as bane for the country as when the oil prices dropped the country went into turmoil and became one of the worst economies of the world.

Country Facts


Basic Details
RegionSouth America
Capital CityCaracas
Government TypeFederal Presidential Republic
Official LanguagesSpanish
CurrencyVenezuelan bolivar, United States dollar
Phone Code +58
Important CitiesMaracaibo, Valencia, Barquisimeto, Maracay, Ciudad Guayana, Barcelona, Maturín, Cumaná, Petare, Turmero, Mérida, Ciudad Bolívar, Barinas, Los Teques, Punto Fijo, La Guaira
National DayIndependence Day (Jul-05)
GDP (nominal)USD 92.21 Billion
Ease of Doing Business Ranking188
Primary IndustriesPetrolium and other resources,Manufacturing,Agriculture.
Foreign Relations
Bordering NationsGuyana, Brazil, Colombia
Member ofOrganization of the Petroleum Exporting Countries(OPEC), ( United Nations), ( Union of South American Nations)
Major ExportsMining, Metals & Minerals, Chemical Products, Fisheries, Sea Food & Crustaceans, Agriculture & Farming Products and Solutions, Gems & Jewellery, Food & Beverages, Spirits & Vinegar, Electrical Products, Animal Meat and Food Preperations, Wood and Pulp, Vegetables and Related Products, Other Products, Spices, Plastics and Products, Machinery & Appliances
Major ImportsElectrical Products, Machinery & Appliances, Cereals & Pulses, Plastics and Products, Automobiles, Vehicles & Components, Edible Oils & Seeds, Pharmaceutical Products, Food & Beverages, Spirits & Vinegar, Rubber and Products, Fashion and Apparel, Cosmetics and Accessories, Mining, Metals & Minerals, Other Products, Chemical Products, Toys and Games
Total Exports ValueUSD 4.794 Billion
Total Imports ValueUSD 11.179 Billion
Foreign Trade BalanceUSD 6.385 Billion (Deficit)
Foreign Relations with India
Trade Agreements with IndiaBilateral trade between India and Venezuela totalled US$5.83 billion in 2015–16. This was much lower than the $14.46 billion, $14.22 billion and $11.99 billion recorded in 2012–13, 2013–14 and 2014–15 respectively. In 2015–16, crude oil exports from Venezuela to India stood at $5.68 billion, while non-oil exports from Venezuela accounted for just $23.18 million.
Major Exports to IndiaMining, Metals & Minerals, Chemical Products, Wood and Pulp, Electrical Products, Food & Beverages, Spirits & Vinegar, Hides, Leather & Tannery, Vegetables and Related Products, Edible Oils & Seeds, Cereals & Pulses, Silk & Textiles, Machinery & Appliances
Major Imports from IndiaPharmaceutical Products, Silk & Textiles, Mining, Metals & Minerals, Chemical Products, Machinery & Appliances, Ceramic Products, Books and Papers, Food & Beverages, Spirits & Vinegar, Cosmetics and Accessories, Agriculture & Farming Products and Solutions, Fashion and Apparel, Plastics and Products, Hides, Leather & Tannery, Rubber and Products, Spices
India's Imports ValueUSD 252.85 Million
India's Exports ValueUSD 178 Million
Trade Balance with IndiaUSD 74.85 Million (Excess)
Indian Embassy Details for VenezuelaEmbassy of India
H.E. P.K. Ashok Babu
Honourable Ambassador
Quinta Tagore,No. 12, Avenida San Carlos, La Floresta,Caracas - Venezuela
0058-212-285-7887, 3637

Embassy Details of Venezuela in IndiaEmbassy of the Bolivarian Republic of Venezuela
H.E. Ms. Capaya Rodriguez Gonzalez
C-6/11 Vasant Vihar, New Delhi-110057
+91-11-4168 0218, 41680219 (O)