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The economy of Venezuela is based on oil, although efforts have been made to develop heavy industry, e.g. steel and aluminium, and revive the agricultural sector. From the 1950s to the beginning of the 1980s the Venezuelan economy was one of the strongest in South America. The continuous growth during that period attracted many immigrants. With the collapse of oil prices in the mid 1980s the economy contracted. As oil prices have increased in recent years, Venezuela's economy has strengthened, with GDP growing by about 10 percent a year. Image File history File links Broom_icon. ... ISO 4217 Code VEB User(s) Venezuela Inflation 16% Source The World Factbook, 2005 est. ... The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ... The Organization of the Petroleum Exporting Countries (OPEC) is made up of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela; since 1965, its international headquarters have been in Vienna, Austria. ... Pro Tempore Secretariat Brasília Official languages 4 Spanish Portuguese English Dutch Member states 12 Argentina Bolivia Brazil Chile Colombia Ecuador Guyana Paraguay Peru Suriname Uruguay Venezuela Leaders  -  President Rodrigo Borja  -  Tempore Secretary Jorge Taunay Filho Formation  -  Cuzco Declaration 8 December 2004  Area  -  Total 17,715,335 km² (1st2)  sq... Motto (Spanish) (Portuguese) (Guaraní) Our North is the South  â€¢  â€¢ Pro Tempore Secretariat Montevideo, Uruguay Largest city São Paulo, Brazil Official languages 3 Portuguese Spanish Guaraní Membership 5 Argentina Brazil Paraguay Uruguay Venezuela Leaders  -  Carlos Álvarez Establishment  -  Declaration of Foz do Iguaçu 30 December 1985   -  Treaty of Asunción... Gross domestic product (by purchasing power parity) in 2006 The Purchasing power parity (PPP) theory was developed by Gustav Cassel in 1920. ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... This article does not cite any references or sources. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... South America South America is a continent crossed by the equator, with most of its area in the Southern Hemisphere. ... Immigration is the act of moving to or settling in another country or region, temporarily or permanently. ...

In the 1950s, during Jimenez' dictatorship, Venezuela enjoyed remarkably high GDP growth, so that in the late 1950s Venezuela's real GDP per capita was close to West Germany's. However, the democracy established in 1958 has not brought First World status from an economic point of view: on the contrary, in some years GDP contracted. Marcos Pérez Jiménez Marcos Pérez Jiménez (April 25, 1914 – September 20, 2001) was president of Venezuela from 1952 to 1958. ...

In the view of the libertarian Russian economist Andrei Illarionov, Venezuela's policy of state capitalism (successive governments carried out wide-ranging nationalisations from 1958 on) was a debacle: The “patriotically motivated” economic policy proved devastating as Venezuela slid into its deepest economic crisis. By 2004 its per capita GDP was 37 percent lower than half a century before that. The degrading impact of state command in the economy spread beyond government institutions – it caused the degeneration of Venezuelan society, affecting two generations of people who grew up during state capitalism. Today, Venezuela has no political forces capable of leading it out of the historical deadlock. ^[2] See also Libertarianism and Libertarian Party Libertarian,is a term for person who has made a conscious and principled commitment, evidenced by a statement or Pledge, to forswear violating others rights and usually living in voluntary communities: thus in law no longer subject to government supervision. ... Andrei Nikolayevich Illarionov (Андрей Николаевич Илларионов) is the economic policy advisor to Russian President Vladimir Putin. ... There are multiple definitions of the term state capitalism. ...

The last sentence of the above quotation is more than a little controversial, given the differing views on President Chavez' programme. Certainly, there is widespread disillusionment among Venezuelans concerning the use of Venezuela's oil wealth in recent decades; and political instability has not helped the search for a solution to the country's economic woes. Hugo Rafael Chávez Frías (IPA: ) (born July 28, 1954) is the current President of Venezuela. ...

Venezuelan officials estimated the economy contracted 7.2% in 1999. A steep downturn in international oil prices during the first half of the year fueled the recession, and spurred the administration to abide by OPEC-led production cuts in an effort to raise world oil prices. (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). Higher oil prices during the second half of 1999 took pressure off the budget and currency. With the president's economic cabinet attempting to reconcile a wide range of views, the country's economic reform program had largely stalled. The reforms were mainly in microeconomics such as the reduction or abolition of education and hospital fees. The government sought international assistance to finance reconstruction after massive flooding and landslides in December 1999 caused an estimated US$15 billion to $20 billion in damage. This article is about the year. ... OPEC Logo The Organization of the Petroleum Exporting Countries (OPEC) is an international cartel[1][2] made up of Iraq, Indonesia, Iran, Kuwait, Libya, Angola, Algeria, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. ... Microeconomics is a branch of Economics that studies how individuals, households, and firms make decisions to allocate limited resources,[1] typically in markets where goods or services are being bought and sold. ... For the record label, see Hospital Records. ... One pays a fee as renumeration for services, especially the honorarium paid to a doctor, lawyer or member of a learned profession. ... The United States dollar is the official currency of the United States. ... One thousand million (1,000,000,000) is the natural number following 999,999,999 and preceding 1,000,000,001. ...

There was a sharp drop in investment and a general recession during 2002 and 2003. Total GDP decreased 18.5% during the first semester of 2003 compared with the same period in 2002. This is the steepest decline in Venezuelan history. The hardest hit sectors were construction (-55.9%), petroleum (-26.5%), commerce (-23.6%) and manufacturing (-22.5%). Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...

In 2002, the Venezuelan economy, as measured by Gross domestic product (GDP), contracted by 8.9% compared to 2001. The petroleum sector, which contracted by 12.6% in 2002 as compared to 2001, was adversely affected by a decrease in exports of petroleum products resulting from adherence to an OPEC quota established in 2002 and the virtual cessation of exports as a result of a national strike by forces intent on removing Chavez from power,The non petroleum sector of the economy contracted by 6.5% compared to 2001. This situation was accompanied by a significant devaluation of the Bolivar during 2002, which resulted in an accelerated inflation rate. The inflation rate, as measured by the CPI, was 31.2% in 2002 compared to 12.3% in 2001. Nominal GDP per person (capita) in 2006. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... A quota is a prescribed number or share of something. ... ISO 4217 Code VEB User(s) Venezuela Inflation 16% Source The World Factbook, 2005 est. ...

In an attempt to support the bolivar and bolster the government's declining level of international reserves, as well as to mitigate the adverse impact from the oil industry work stoppage on the financial system, the Ministry of Finance and the central bank suspended foreign exchange trading on January 23, 2003. On February 6, 2003, the government created CADIVI, a currency control board charged with handling foreign exchange procedures. The new exchange control regime fixed the U.S. dollar exchange rate at Bs. 1,596 = U.S. $1.00 for purchase operations, and Bs. 1,600 = U.S. $1.00 for sale operations, and established the compulsory purchase and sale of foreign currency through the central bank. The current exchange rate for purchase operations is Bs. 2,150 = U.S. $1.00. In the other hand, the "black market" exchange rate has raised since 2003, specially in the last year. In March 2007, the unofficial exchange rate reached the Bs. 4,000 per U.S. dollar for sale operations and has continued growing^[3]. The finance minister is a cabinet position in a government. ... February 6, 2003 In the United Kingdom, seven more arrests have been made under the Terrorism Act 2000 in raids in the cities of Edinburgh, Glasgow, London and Manchester. ...

The economy grew by a remarkable 16.8% in 2004 when compared to 2003, led mostly by non-petroleum sectors - the oil industry directly provides only a small percentage of employment in the country. International reserves grew to US$27 billion. Polling firm Datanalysis noted that real income in the poorest sectors of society grew by 33% in real growth in 2004.^{[citation needed]} Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... The United States dollar is the official currency of the United States. ... One thousand million (1,000,000,000) is the natural number following 999,999,999 and preceding 1,000,000,001. ...

While Macroeconomic Stabilization Fund (FIEM) decreased from U.S.$2.59 billion in January 2003 to U.S.$700 million in October, central bank-held international reserves actually increased from U.S.$11.31 billion in January to U.S.$19.67 billion in October 2003. Despite the slowdown in PDVSA output and resulting royalty payments to the central bank, reserves are currently 31.1% above their levels one year ago, as foreign exchange transactions remain suppressed. Petróleos de Venezuela, S.A. (PdVSA) is the Venezuelan nationally owned petroleum company. ...

There is considerable income inequality. According to official sources, the percentage of poor and extremely poor among the Venezuelan population increased from 39.4% in 1995 to 48.1% in 2002, but then in 2005 decreased to 34% ^{[citation needed]}. Differences in national income equality around the world as measured by the national Gini coefficient. ...

Petroleum and other resources

When oil was discovered at the Maracaibo strike in 1922, Venezuela's dictator, Juan Vicente Gómez, allowed Americans to write Venezuela's petroleum law (Daniel Yergin, The Prize: The Epic Quest for Oil, Money, and Power [Simon and Schuster, 1990], pp. 233-36; 432). But oil history was made in 1943 when Standard Oil of New Jersey accepted a new agreement in Venezuela based on the 50-50 principle, "a landmark event" (ibid., p. 435). Terms even more favorable to Venezuela were negotiated in 1945, after a coup brought to power a left-leaning government that included Juan Pablo Pérez Alfonso. In 1958 a new government again included Pérez Alfonso, who devised a plan for the international oil cartel that would become OPEC (ibid., pp. 510-13). In 1973 Venezuela voted to nationalize its oil industry outright, effective Jan. 1, 1976, with Petróleos de Venezuela (PDVSA) taking over and presiding over a number of holding companies; in subsequent years, Venezuela built a vast refining and marketing system in the U.S. and Europe (ibid., p. 767). Nickname: Motto: Muy noble y leal Coordinates: , Country State Counties Maracaibo Government  - Mayor Gian Carlo Di Martino (2000 – 2008) Area  - City 550 km²  (212. ... Juan Vicente Gómez. ... Exxon Mobil Corporation or ExxonMobil (NYSE: XOM), headquartered in Irving, Texas, is an oil producer and distributor formed on November 30, 1999, by the merger of Exxon and Mobil. ... OPEC Logo The Organization of the Petroleum Exporting Countries (OPEC) is an international cartel[1][2] made up of Iraq, Indonesia, Iran, Kuwait, Libya, Angola, Algeria, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. ... { { Infobox_Company|company_name = Devenezuela S.A Petr�leos. ...

Economic prospects remain highly dependent on oil prices and the export of petroleum. A founding member of the Organization of Petroleum Exporting Countries (OPEC), Venezuela reasserted its leadership within the organization during its year as OPEC's president, hosting the organization's Second Leadership Conference in 40 years, as well as having its former Minister of Energy, Alvaro Silva Calderon, appointed as Secretary General. The collapse of oil prices in 1997-98 prompted the Rodriguez administration to expand OPEC-inspired production cuts in an effort to raise world oil prices. In 2002, this sector accounted for roughly a quarter of GDP, 73% of export earnings, and about half of central government's operating revenues. Venezuela is the fourth-leading supplier of imported crude and refined petroleum products to the United States. The Organization of the Petroleum Exporting Countries (OPEC) is made up of Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela; since 1965, its international headquarters have been in Vienna, Austria. ...

The Government of Venezuela has opened up much of the hydrocarbon sector to foreign investment, promoting multi-billion dollar investment in heavy oil production, reactivation of old fields, and investment in several petrochemical joint ventures. Almost 60 foreign companies representing 14 different countries participate in one or more aspects of Venezuela's oil sector. The Venezuelan national oil company Petroleos de Venezuela, S.A. (PDVSA) and foreign oil companies have signed 33 operating contracts for marginal fields in three bidding rounds. New legislation dealing with natural gas and petrochemicals is further opening the sector. A new domestic retail competition law, however, disappointed investors who had been promised market-determined prices. Petróleos de Venezuela, S.A. (PdVSA) is the Venezuelan nationally owned petroleum company. ... Petróleos de Venezuela, S.A. (PdVSA) is the Venezuelan nationally owned petroleum company. ...

On November 13, 2001, under the enabling law authorized by the National Assembly, President Chávez enacted the new Hydrocarbons Law, which came into effect in January 2002. This law replaced the Hydrocarbons Law of 1943 and the Nationalization Law of 1975. Among other things, the new law provided that all oil production and distribution activities were to be the domain of the Venezuelan state, with the exception of joint ventures targeting extra-heavy crude oil production. Under the new Hydrocarbons Law, private investors can own up to 49% of the capital stock in joint ventures involved in upstream activities. The new law also provides that private investors may own up to 100% of the capital stock in ventures concerning downstream activities, in addition to the 100% already allowed for private investors with respect to gas production ventures, as previously promulgated by the National Assembly. The National Assembly (Spanish Asamblea Nacional) is the current legislative branch of the Venezuelan government. ... Chávez is a common Hispanic name. ...

During the December 2002-February 2003 general strike, petroleum production and refining by PDVSA almost ceased. Despite the strike, these activities eventually were substantially restarted. Out of a total of 45,000 PDVSA management and workers, 19,000 were subsequently dismissed because the government asserted they had abandoned their jobs during the strike.

A range of other natural resources, including iron ore, coal, bauxite, gold, nickel, and diamonds are in various stages of development and production. In April 2000, Venezuela's President decreed a new mining law, and regulations were adopted to encourage greater private sector participation in mineral extraction. General Name, symbol, number iron, Fe, 26 Chemical series transition metals Group, period, block 8, 4, d Appearance lustrous metallic with a grayish tinge Standard atomic weight 55. ... Iron ore (Banded iron formation) Manganese ore Lead ore Gold ore An ore is a volume of rock containing components or minerals in a mode of occurrence which renders it valuable for mining. ... Coal Coal (IPA: ) is a fossil fuel formed in swamp ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... Bauxite with penny Bauxite with core of unweathered rock Bauxite is an aluminium ore. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... For other uses, see Nickel (disambiguation). ... This article is about the gemstone. ... Chuquicamata, the second largest open pit copper mine in the world, Chile. ... Lady Justice or Justitia is a personification of the moral force that underlies the legal system (particularly in Western art). ...

Venezuela utilizes vast hydropower resources to supply power to the nation's industries. The national electricity law is designed to provide a legal framework and to encourage competition and new investment in the sector. After a 2-year delay, the government is proceeding with plans to privatize the various state-owned electricity systems under a different scheme than previously envisioned. Undershot water wheels on the Orontes River in Hama, Syria Saint Anthony Falls Hydropower is the capture of the energy of moving water for some useful purpose. ... Lightning strikes during a night-time thunderstorm. ...

Manufacturing, agriculture, and trade

Manufacturing contributed 17% of GDP in 2006. The manufacturing sector continues to increase dramatically in spite of private under-investment. Venezuela manufactures and exports steel, aluminium, transport equipment, textiles, apparel, beverages, and foodstuffs. It produces cement, tires, paper, fertilizer, and assembles cars both for domestic and export markets. The steel cable of a colliery winding tower. ... General Name, symbol, number aluminium, Al, 13 Chemical series poor metals Group, period, block 13, 3, p Appearance silvery Standard atomic weight 26. ... For other uses, see Textile (disambiguation). ... Girls wearing formal attire for dancing, an example of one of the many modern forms of clothing. ... The word drink is primarily a verb, meaning to ingest liquids, see Drinking. ... Food from plant sources Food is any substance normally eaten or drunk by living organisms. ... In the most general sense of the word, cement is a binder, a substance which sets and hardens independently, and can bind other materials together. ... Tires may refer to: the plural of tire the Italian name for Tiers, Italy, a town in South Tyrol, Italy Category: ... For other uses, see Paper (disambiguation). ... It has been suggested that fertilization (soil) be merged into this article or section. ... Look up Market in Wiktionary, the free dictionary. ...

Agriculture accounts for approximately 3% of GDP, 10% of the labor force, and at least one-fourth of Venezuela's land area. Venezuela exports rice, corns, fish, tropical fruits, coffee, beef, and pork. The country is not self-sufficient in most areas of agriculture. Venezuela imports about two-thirds of its food needs. In 2002, U.S. firms exported $347 million worth of agricultural products, including wheat, corn, soybeans, soybean meal, cotton, animal fats, vegetable oils, and other items to make Venezuela one of the top two U.S. markets in South America. The United States supplies more than one-third of Venezuela's food imports. For other uses, see Rice (disambiguation). ... Binomial name L. Corn (Zea mays L. ssp. ... For other uses, see Fish (disambiguation). ... For other uses, see Fruit (disambiguation). ... A cup of coffee. ... For other uses, see Beef (disambiguation). ... For other uses, see Pork (disambiguation). ... Species T. aestivum T. boeoticum T. compactum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 For the indie rock group see: Wheat (band). ... “Corn” redirects here. ... Binomial name (L.) Merr. ... For the coarsely ground flour, see flour. ... Cotton ready for harvest. ... This article or section does not adequately cite its references or sources. ... It has been suggested that this article or section be merged with cooking oil. ...

Thanks to petroleum exports, Venezuela usually posts a trade surplus. In recent years, nontraditional (i.e., nonpetroleum) exports have been growing rapidly but still constitute only about one-fourth of total exports. The United States is Venezuela's leading trade partner. During 2002, the United States exported $4.4 billion in goods to Venezuela, making it the 25th-largest market for the U.S. Including petroleum products, Venezuela exported $15.1 billion in goods to the U.S., making it its 14th-largest source of goods. Venezuela has taken a very cautious approach toward the proposed Free Trade Agreement of the Americas. Balance of trade figures are the sum of the money gained by a given economy by selling exports, minus the cost of buying imports. ... An expansion of the current North American Free Trade Agreement (NAFTA) which relaxes trade restrictions between Member States. ...

Labor and infrastructure

Venezuela has a labor force of about 12.1 million, and in June 2007, official unemployment was 8%. In May 2007, 55.9 percent of Venezuelan workers are included in the formal sector, with 44.1 percent in the informal sector.

Venezuela has an extensive road system. With the exception of air service, transportation has failed to keep pace with the country's needs. Much of the infrastructure suffers from inadequate maintenance. Caracas has a modern subway system over 31.6 mi (51 km) long. Maracaibo and Valencia (second and third largest cities) have recently inaugurated metro systems. Rail transport in Venezuela has been practically non-existent since the 1950s (with only one line operating), but the IAFE is currently working on several lines, hopefully connecting most of Venezuela through railways by 2020, a commuter train line was inaugurated in 2006 between Caracas and its southern bedroom communities, one of the biggest achievements in infrastructure in the last decade. This page is related to transport; you may be looking for the 2002 Bollywood movie Road. ... Nickname: La Sultana del Avila (English:The Avilas Sultan) La Sucursal del paraiso Motto: Ave María Santísima, sin pecado concebida, en el primer instante de su ser natural. ... Nickname: Motto: Muy noble y leal Coordinates: , Country State Counties Maracaibo Government  - Mayor Gian Carlo Di Martino (2000 – 2008) Area  - City 550 km²  (212. ... City motto: (English:) City nickname: Capital industrial de Venezuela (English: Industrial capital of Venezuela) Location of Valencia Mayor Francisco Cabrera Santos (2004 – 2008) Population   â€“Total (2001)   â€“Density Metropolitan area 1,400,000 xxx - km² Time zone UTC –4 Latitude Longitude 10º 10´11 N 68º.59´12 W Official website... IAFE can stand for: The International Association of Financial Engineers Instituto Autónomo de Ferrocarriles del Estado its a Venezuelan institution of Rail Ways. ...

Miscellaneous data

Industrial production growth rate: 0.5% (1995 est.)

Electricity - production: 70,390 GWh (1998)

Electricity - production by source:
fossil fuel: 25.46%
hydro: 74.54%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 65,463 GWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

Agriculture - products: maize, sorghum, sugar cane, rice, bananas, vegetables, coffee; beef, pork, milk, eggs; fish “Corn” redirects here. ... Species About 30 species, see text Sorghum is a genus of numerous species of grasses, some of which are raised for grain and many of which are utilised as fodder plants either cultivated or as part of pasture. ... Species Ref: ITIS 42058 as of 2004-05-05 Sugarcane is one of six species of a tall tropical southeast Asian grass (Family Poaceae) having stout fibrous jointed stalks whose sap at one time was the primary source of sugar. ... For other uses, see Rice (disambiguation). ... This article or section does not cite its references or sources. ... A plate of vegetables Vegetable is a culinary term which generally refers to an edible part of a plant. ... A cup of coffee. ... For other uses, see Beef (disambiguation). ... For other uses, see Pork (disambiguation). ... A glass of cows milk. ... An egg is a body consisting of an ovum surrounded by layers of membranes and an outer casing of some type, which acts to nourish and protect a developing embryo. ... For other uses, see Fish (disambiguation). ...

Currency: 1 bolivar (Bs) = 100 centimos Currency code VEB

Exchange rates: bolivares (Bs) per US$1 - 2150 (January 2006), 1440 (September 2002), 652.333 (January 2000), 605.717 (1999), 547.556 (1998), 488.635 (1997), 417.333 (1996), 176.843 (1995)

See also

• Banco Central de Venezuela
• List of Venezuelan Companies
• List of Venezuelan Cooperatives
• Banks of Venezuela

Banco Central de Venezuela (BCV) is the central bank of Venezuela. ... This is a list of Venezuelan companies, corporations, and enterprises. ... This is the list of all those organizations clasifieds on his working areas: // Atabapo Express RL List of Venezuelan Companies SUNACOOP Website Category: ... Banco Canarias de Venezuela http://www. ...

References

1. ^ "Venezuela's Annual Inflation Rate Highest Since 2004", Bloomberg, March 1, 2007. 
2. ^ Former advisor to Russian president warns of 'Venezuela disease'.
3. ^ Venezuela to Give Currency New Name and Numbers by Simon Romero of The New York Times.

Bloomberg Television are cable television networks around the world that broadcast business and financial news 24 hours a day. ...

External links

• Banco Central de Venezuela
• The Venezuelan Economy in the Chávez Years from the Center for Economic and Policy Research

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It was founded by economists and current co-directors Dean Baker and Mark Weisbrot in 1999, according to the organizations website. ... OPEC Logo The Organization of the Petroleum Exporting Countries (OPEC) is an international cartel[1][2] made up of Iraq, Indonesia, Iran, Kuwait, Libya, Angola, Algeria, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. ... Pro Tempore Secretariat Brasília Official languages 4 Spanish Portuguese English Dutch Member states 12 Argentina Bolivia Brazil Chile Colombia Ecuador Guyana Paraguay Peru Suriname Uruguay Venezuela Leaders  -  President Rodrigo Borja  -  Tempore Secretary Jorge Taunay Filho Formation  -  Cuzco Declaration 8 December 2004  Area  -  Total 17,715,335 km² (1st2)  sq... Image File history File links No higher resolution available. ... The World Trade Organization (WTO), (OMC - Spanish: , French: ), is an international organization designed to supervise and liberalize international trade. ... Image File history File links Size of this preview: 800 × 370 pixelsFull resolution (1357 × 628 pixel, file size: 19 KB, MIME type: image/png)World map of World Trade Organization (WTO) members/non-members, 2005; based on Image:BlankMap-World-v2. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Bruneis economy. ... Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... The economy of the Peoples Republic of China is the fourth largest in the world when measured by nominal GDP. Its economic output for 2006 was $2. ... 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(Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... The Economy of Hong Kong is widely believed to be the most economically free in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(Chŏn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD Statistics [1] GDP ranking 10th by volume (at nominal) (2006); 11th by volume (at PPP) (2006); GDP (Nominal) $897. ... The Economy of New Zealand is a small but prosperous free market economy, which is greatly dependent on international trade, mainly with Australia, the United States of America and Japan. ... Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... Saint Kitts and Nevis was the last sugar monoculture in the Eastern Caribbean. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... With an economy of $27. ... Republic of China (ROC) has a dynamiccapitalist economy with gradually decreasing guidance of investment and foreign trade by the government. ... Trinidad and Tobago experienced a real growth rate of 3. ... // The United Arab Emirates has a highly industrialized economy that makes the country one the most developed in the world, based on various socioeconomic indicators such as GDP per capita, energy consumption per capita, and the HDI. At $168 billion in 2006, the GDP of the UAE ranks second in... The United States has the worlds largest gross domestic product (GDP), $13. ... All twenty-seven member states of the European Union are also members of the WTO in their own right: Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands and Netherlands Antilles • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom. Special Administrative Region of the People's Republic of China. Designated name for the Republic of China.

v • d • e Economy of South America
Sovereign states	Argentina · Bolivia · Brazil · Chile · Colombia · Ecuador · Guyana · Panama* · Paraguay · Peru · Suriname · Trinidad and Tobago* · Uruguay · Venezuela
Dependencies	Aruba* (Netherlands) · Falkland Islands (UK) · French Guiana (France) · Netherlands Antilles* (Netherlands) · South Georgia and the South Sandwich Islands (UK)
* Territories also in or commonly reckoned elsewhere in the Americas (North America).