Venezuela
- Abstract
- Summary
- Comparative Statistical Analysis
- Strengths and Weakness
- Instruments ratifications
- Historical Data
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Wikipedia Country Information
Venezuela (; American Spanish: [beneˈswela] (listen)), officially the Bolivarian Republic of Venezuela (Spanish: República Bolivariana de Venezuela), is a country on the northern coast of South America, consisting of a continental landmass and many islands and islets in the Caribbean Sea. It has a territorial extension of 916,445 km2 (353,841 sq mi), and the population of Venezuela was estimated at 28 million in 2019. The capital and largest urban agglomeration is the city of Caracas.
The continental territory is bordered on the north by the Caribbean Sea and the Atlantic Ocean, on the west by Colombia, Brazil on the south, Trinidad and Tobago to the north-east and on the east by Guyana. The Venezuelan government maintains a claim against Guyana to Guayana Esequiba. Venezuela is a federal presidential republic consisting of 23 states, the Capital District and federal dependencies covering Venezuela's offshore islands. Venezuela is among the most urbanized countries in Latin America; the vast majority of Venezuelans live in the cities of the north and in the capital.
The territory of 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 from the Spanish and to form part, as a department, of the first federal Republic of Colombia (historiographically known as Gran Colombia). It separated as a full sovereign country in 1830. During the 19th century, Venezuela suffered political turmoil and autocracy, remaining dominated by regional military dictators until the mid-20th century. Since 1958, the country has had a series of democratic governments, as an exception where most of the region was ruled by military dictatorships, and the period was characterized by economic prosperity. Economic shocks in the 1980s and 1990s led to major political crises and widespread social unrest, including the deadly Caracazo riots of 1989, two attempted coups in 1992, and the impeachment of a President for embezzlement of public funds charges in 1993. The collapse in confidence in the existing parties saw the 1998 Venezuelan presidential election, the catalyst for the Bolivarian Revolution, which began with a 1999 Constituent Assembly, where a new Constitution of Venezuela was imposed. The government populist social welfare policies were bolstered by soaring oil prices, temporarily increasing social spending, and reducing economic inequality and poverty in the early years of the regime. The 2013 Venezuelan presidential election was widely disputed leading to widespread protest, which triggered another nationwide crisis that continues to this day.Venezuela is a developing country and ranks 113th on the Human Development Index. It has the world's largest known oil reserves and has been one of the world's leading exporters of oil. Previously, the country was an underdeveloped exporter of agricultural commodities such as coffee and cocoa, but oil quickly came to dominate exports and government revenues. The excesses and poor policies of the incumbent government led to the collapse of Venezuela's entire economy. The country struggles with record hyperinflation, shortages of basic goods, unemployment, poverty, disease, high child mortality, malnutrition, severe crime and corruption. These factors have precipitated the Venezuelan migrant crisis where more than three million people have fled the country. By 2017, Venezuela was declared to be in default regarding debt payments by credit rating agencies. The crisis in Venezuela has contributed to a rapidly deteriorating human rights situation, including increased abuses such as torture, arbitrary imprisonment, extrajudicial killings and attacks on human rights advocates. Venezuela is a charter member of the UN, OAS, UNASUR, ALBA, Mercosur, LAIA and OEI.
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 |
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 |
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 |
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