Venezuela

Abstract

Wikipedia Country Information

Venezuela ( VEN-ə-ZWAYL-ə; American Spanish: [beneˈswela]), officially the Bolivarian Republic of Venezuela (Spanish: República Bolivariana de Venezuela), is a federal republic located on the northern coast of South America. It is bordered by Colombia on the west, Brazil on the south, Guyana on the east, the Dutch Caribbean ABC islands to the north and the islands of Trinidad and Tobago to the north-east. Venezuela covers 916,445 km2 (353,841 sq mi) and has over 31 million (31,568,179) people. The country has extremely high biodiversity and is ranked 7th in the world's list of nations with the most number of species. There are habitats ranging from the Andes Mountains in the west to the Amazon Basin rain-forest in the south via extensive llanos plains. Additionally, there is the Caribbean coast in the center and the Orinoco River Delta in the east.
The territory now known as Venezuela was colonized by Spain in 1522 amid resistance from indigenous peoples. In 1811, it became one of the first Spanish-American territories to declare independence which was not securely established until 1821, when Venezuela was a department of the federal republic of Gran Colombia. It gained full independence as a separate country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional caudillos (military strongmen) until the mid-20th century. Since 1958, the country has had a series of democratic governments. Economic shocks in the 1980s and 1990s led to several political crises, including the deadly Caracazo riots of 1989, two attempted coups in 1992, and the impeachment of President Carlos Andrés Pérez for embezzlement of public funds in 1993. A collapse in confidence in the existing parties saw the 1998 election of former coup-involved career officer Hugo Chávez and the launch of the Bolivarian Revolution. The revolution began with a 1999 Constituent Assembly, where a new Constitution of Venezuela was written. This new constitution officially changed the name of the country to República Bolivariana de Venezuela (Bolivarian Republic of Venezuela).
Venezuela is a federal presidential republic consisting of 23 states, the Capital District (covering Caracas), and federal dependencies (covering Venezuela's offshore islands). Venezuela also claims all Guyanese territory west of the Essequibo River, a 159,500-square-kilometre (61,583 sq mi) tract dubbed Guayana Esequiba or the Zona en Reclamación (the "zone being reclaimed"). Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north, especially in the capital (Caracas) which is also the largest city in Venezuela.
Oil was discovered in the early 20th century and, today, Venezuela has the world's largest known oil reserves and has been one of the world's leading exporters of oil. Previously an underdeveloped exporter of agricultural commodities such as coffee and cocoa, oil quickly came to dominate exports and government revenues. The 1980s oil glut led to an external debt crisis and a long-running economic crisis. Inflation peaked at 100% in 1996 and poverty rates rose to 66% in 1995 as (by 1998) per capita GDP fell to the same level as 1963, down a third from its 1978 peak. The recovery of oil prices in the early 2000s gave Venezuela oil funds not seen since the 1980s. The Venezuelan government then established populist policies that initially boosted the Venezuelan economy and increased social spending, temporarily reducing economic inequality and poverty. However, such policies later became inadequate, as their excesses – especially a uniquely extreme fossil fuel subsidy – are widely blamed for destabilizing the nation's economy. The destabilized economy led to a crisis in Bolivarian Venezuela, resulting in hyperinflation, an economic depression, shortages of basic goods and drastic increases in poverty, disease, child mortality, malnutrition, and crime.


Summary
Instruments ratified: 95 / 282
World Average Ratifications: 114 / 282
Ratification rate: 37.84%
World Average Rate: 41.25%
Weighted score: 42.70%
World Average Weighted Score: 41.25%
World rank: 107 / 194
Developing country rank: 52 / 87
Developing country Avg. Ratifications: 109 / 282
South America rank: 9 / 13
South America Avg. Ratifications: 111 / 282
Comparative Statistical Analysis
CONTRACTS Inst. ratified Country score World avg. score Country rank in world Strength
Agency 0/2 0.00% 2.00% 8 Weak
Conflict of laws 0/7 0.00% 3.00% 27 Weak
E-commerce 1/3 (33.33%) 33.33% 18.00% 33 Strong
Franchising 0/1 0.00% 0.00% 1 Average
Leasing/Factoring 0/2 0.00% 5.00% 13 Weak
Principles, trade usages and standards 0/2 0.00% 0.00% 1 Average
Procurement 0/4 0.00% 3.00% 31 Weak
Sale of Goods 0/5 0.00% 25.00% 89 Weak
Travel contracts 0/1 0.00% 3.00% 7 Weak
Total 1 7.25% 9.00% 94 Weak
 
CUSTOMS Inst. ratified Country score World avg. score Country rank in world Strength
Customs Codification 2/3 (66.67%) 100.00% 78.00% 1 Strong
Customs Cooperation 0/6 0.00% 26.00% 117 Weak
Exemption from Duties 2/9 (22.22%) 22.22% 30.00% 92 Weak
Temporary Admission 0/11 0.00% 28.00% 126 Weak
Transit 0/4 0.00% 28.00% 98 Weak
Total 4 11.96% 31.00% 132 Weak
 
DISPUTE RESOLUTION Inst. ratified Country score World avg. score Country rank in world Strength
Arbitration 2/6 (33.33%) 50.00% 32.00% 29 Strong
Judicial cooperation 3/5 (60.00%) 78.95% 36.00% 42 Strong
Recognition of foreign judgments 0/2 0.00% 2.00% 6 Weak
State court jurisdiction 0/4 0.00% 14.00% 29 Weak
State court procedure 0/1 0.00% 6.00% 12 Weak
State immunities 0/1 0.00% 11.00% 22 Weak
Total 5 50.00% 29.00% 44 Strong
 
ENVIRONMENT AND PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Air 4/5 (80.00%) 80.00% 86.00% 59 Weak
Chemicals 1/1 (100.00%) 100.00% 78.00% 1 Strong
Energy 0/2 0.00% 25.00% 50 Weak
Flora and fauna 8/10 (80.00%) 82.61% 68.00% 29 Strong
Foodstuff 2/2 (100.00%) 100.00% 79.00% 1 Strong
General 0/1 0.00% 95.00% 185 Weak
International watercourses 0/1 0.00% 18.00% 36 Weak
Maritime and Law of the Sea 10/26 (38.46%) 41.30% 46.00% 118 Weak
Protected geographical areas 1/1 (100.00%) 100.00% 27.00% 1 Strong
Waste 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 27 60.94% 61.00% 105 Weak
 
FINANCE, PAYMENTS AND INSOLVENCY Inst. ratified Country score World avg. score Country rank in world Strength
Assignment of receivables 0/1 0.00% 1.00% 2 Weak
Bankruptcy and insolvency 0/1 0.00% 21.00% 41 Weak
Bills of exchange and promissory notes 0/4 0.00% 8.00% 43 Weak
Cheques 0/3 0.00% 13.00% 36 Weak
Credit transfers 0/1 0.00% 0.00% 1 Average
International guarantees 0/3 0.00% 20.00% 75 Weak
Total 0 0.00% 12.00% 117 Weak
 
GOOD GOVERNANCE Inst. ratified Country score World avg. score Country rank in world Strength
Corruption 2/4 (50.00%) 66.67% 50.00% 34 Strong
Cultural Property 2/4 (50.00%) 50.00% 54.00% 61 Weak
Drugs 3/3 (100.00%) 100.00% 95.00% 1 Weak
Insider Trading 0/1 0.00% 4.00% 9 Weak
Organized crime 2/2 (100.00%) 100.00% 80.00% 1 Strong
Total 9 75.00% 68.00% 56 Average
 
HUMAN RIGHTS AND LABOUR STANDARDS Inst. ratified Country score World avg. score Country rank in world Strength
Human Rights 6/7 (85.71%) 85.71% 96.00% 143 Weak
Labour Standards 1/8 (12.50%) 12.50% 86.00% 178 Weak
Total 7 46.67% 91.00% 178 Weak
 
INSTITUTIONAL PARTICIPATION Inst. ratified Country score World avg. score Country rank in world Strength
Dispute Resolution 0/1 0.00% 39.00% 77 Weak
International Trade Law 9/10 (90.00%) 90.00% 73.00% 34 Strong
Trade support institutions 2/6 (33.33%) 33.33% 51.00% 114 Weak
Total 11 64.71% 63.00% 79 Weak
 
INTELLECTUAL PROPERTY Inst. ratified Country score World avg. score Country rank in world Strength
Broadcasting 1/1 (100.00%) 100.00% 47.00% 1 Strong
Copyright 2/3 (66.67%) 54.55% 65.00% 94 Weak
Industrial designs 0/2 0.00% 31.00% 82 Weak
Integrated circuits 0/1 0.00% 2.00% 4 Weak
Neighboring Rights 2/3 (66.67%) 61.54% 46.00% 73 Strong
Origin 0/3 0.00% 14.00% 51 Weak
Patents 1/5 (20.00%) 23.81% 57.00% 153 Weak
Trademarks 0/6 0.00% 33.00% 124 Weak
Varieties of plants 0/1 0.00% 37.00% 73 Weak
Total 6 25.26% 42.00% 124 Weak
 
INVESTMENTS Inst. ratified Country score World avg. score Country rank in world Strength
Investment disputes 1/2 (50.00%) 50.00% 39.00% 2 Strong
Investment guaranty 1/1 (100.00%) 100.00% 93.00% 1 Weak
Total 2 66.67% 57.00% 2 Strong
 
PRODUCTS Inst. ratified Country score World avg. score Country rank in world Strength
Marine Resources 1/1 (100.00%) 100.00% 24.00% 1 Strong
Timber 1/1 (100.00%) 100.00% 31.00% 1 Strong
General 1/1 (100.00%) 100.00% 92.00% 1 Weak
Total 3 100.00% 53.00% 1 Strong
 
TRANSPORT AND TELECOMMUNICATIONS Inst. ratified Country score World avg. score Country rank in world Strength
Air transport 2/7 (28.57%) 38.10% 59.00% 143 Weak
Aircrafts and civil aviation 5/9 (55.56%) 76.00% 74.00% 80 Weak
Maritime shipping and load lines 9/13 (69.23%) 82.86% 66.00% 73 Strong
Maritime transport 0/12 0.00% 27.00% 180 Weak
Multi modal transport 0/2 0.00% 4.00% 15 Weak
Rail transport 0/3 0.00% 22.00% 50 Weak
Road transport 0/4 0.00% 31.00% 86 Weak
Space 2/4 (50.00%) 66.67% 40.00% 55 Strong
Telecommunications 1/2 (50.00%) 83.33% 47.00% 26 Strong
Total 19 43.92% 50.00% 121 Weak
 
TREATIES LAW Inst. ratified Country score World avg. score Country rank in world Strength
General 0/4 0.00% 30.00% 113 Weak
Total 0 0.00% 30.00% 113 Weak
 
WTO Inst. ratified Country score World avg. score Country rank in world Strength
Plurilateral Agreements 0/2 0.00% 18.00% 45 Weak
WTO Agreements 1/1 (100.00%) 100.00% 81.00% 1 Strong
Total 1 45.45% 47.00% 45 Weak
 
Strengths and Weakness
Strong
Contracts E-commerce
Customs Customs Codification
Dispute resolution Arbitration
Dispute resolution Judicial cooperation
Environment and products Chemicals
Environment and products Flora and fauna
Environment and products Foodstuff
Environment and products Protected geographical areas
Good Governance Corruption
Good Governance Organized crime
Institutional Participation International Trade Law
Intellectual property Broadcasting
Intellectual property Neighboring Rights
Investments Investment disputes
Products Marine Resources
Products Timber
Transport and telecommunications Maritime shipping and load lines
Transport and telecommunications Space
Transport and telecommunications Telecommunications
WTO WTO Agreements
 
Average
Contracts Franchising
Contracts Principles, trade usages and standards
Finance, payments and insolvency Credit transfers
 
Weak
Contracts Agency
Contracts Conflict of laws
Contracts Leasing/Factoring
Contracts Procurement
Contracts Sale of Goods
Contracts Travel contracts
Customs Customs Cooperation
Customs Exemption from Duties
Customs Temporary Admission
Customs Transit
Dispute resolution Recognition of foreign judgments
Dispute resolution State court jurisdiction
Dispute resolution State court procedure
Dispute resolution State immunities
Environment and products Air
Environment and products Energy
Environment and products General
Environment and products International watercourses
Environment and products Maritime and Law of the Sea
Environment and products Waste
Finance, payments and insolvency Assignment of receivables
Finance, payments and insolvency Bankruptcy and insolvency
Finance, payments and insolvency Bills of exchange and promissory notes
Finance, payments and insolvency Cheques
Finance, payments and insolvency International guarantees
Good Governance Cultural Property
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour Standards Human rights
Human Rights and Labour Standards Labour Standards
Institutional Participation Dispute Resolution
Institutional Participation Trade support institutions
Intellectual property Copyright
Intellectual property Industrial designs
Intellectual property Integrated circuits
Intellectual property Origin
Intellectual property Patents
Intellectual property Trademarks
Intellectual property Varieties of plants
Investments Investment guaranty
Products General
Transport and telecommunications Air transport
Transport and telecommunications Aircrafts and civil aviation
Transport and telecommunications Maritime transport
Transport and telecommunications Multi modal transport
Transport and telecommunications Rail transport
Transport and telecommunications Road transport
Treaties law General
WTO Plurilateral Agreements
Instruments ratifications

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