Venezuela

Located on the northern coast of South America, Venezuela is the fourth richest nation in South America both in terms of GDP per capita at $15,102 and GDP (PPP) at $468.6 billion USD. The country is bordered by Colombia, Brazil, and Guyana. Trinidad and Tobago lie offshore to the north-east. The country encompasses an area of 916,445 square km and houses a population of 31 million.

The petroleum and the manufacturing sectors form the pillars of the Venezuelan economy. Almost 50% of the country’s GDP is from the export of petroleum which accounts for 95% of total exports. The country’s economy suffered a major setback in the 1980’s due to the collapse of oil prices. Other major industries and exports of the country include cement, steel, automobiles, electronics, and aluminum. The agricultural sector in the country only contributes about 3% to the GDP. The US is the biggest trading partner of the country.