The Economic Economy The Economy Of Venezuelas Economy

Economic Affairs: Its mayor export partners are United States with trading values ranging from $24 to $30 billions per year at least in the last 3 years. United States has received exports of Petrolium in massive numbers from Venezuela which petroleum has a total of 95% worth of the country’s total trades, this is the 50% of Venezuela’s GDP. Venezuela is bordered by Guayana, Brazil and Colombia. Venezuela shipped to the US $29.1 billion worth of goods around the globe in 2016, while receiving from the US exports of cars, machinery and pharmaceutics merchandise. The US is a big parter in trades because it Venezuela is one of its top 4 suppliers of oil. Venezuela is highly dependent on exported oil which dominated 98.6% of the country’s†¦show more content†¦This is because Venezuela does not have the infrastructure to properly manage or distribute all this gas and give it a properly positive outcome. These event is causing two negative impacts to the count ry, one is economically because all that gas burned wasted could earn them more that what they would spend to build a good infrastructure or system to benefit the country economically or socially to the citizens with utilities they would use for their stoves or boilers. All this gas wasted does not contaminate just the place where it comes from but the whole atmosphere with its immense size. The country cannon advance too much on the reduction of greenhouse gases because the government takes role on free market and that makes businesses work with the agreement of the government to be legal. Many renewable resources companies could come out for business but if this would not benefit the country because its main source of income is oil, and changing energy sources to renewable would be devastating to the country’s income if they don’t find new ways to fix their economy besides relying on the sale of petroleum. This all are some of the problems that Venezuela faces, some of them have some solutions that the country is implementing to improve, but most of them are just mentioned by experts and not have much followers to enforce them and raise the nation nor the support fo theShow MoreRelatedVenezuela s Current Economic Policies1095 Words   |  5 PagesIn order to understand Venezuela’s current economic policies, it is important to examine the economic and political ideologies adopted by past leaders of the Bolivar state. Chavez, who was the president of Venezuela from 1993-2003, took a very anti-neoliberal approach towards the Venezuelan economy. 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