Place in the world ranking of proven oil reserves.
million kW of installed power generating capacity.
of the population is urban
billion GDP per in 2014
average annual GDP growth 1950-1979
LOCATION, LOCATION, LOCATION
Venezuela is located in the Western hemisphere, a geography free of international conflicts. Its location at the northern tip of South America allows for shorter shipping times to North America’s East Coast and Europe than from other South American countries. A container ship takes approximately 4 days from Venezuela’s main port (Puerto Cabello) to Miami. It would only take 7 days to Houston or New York, and only 15 days to Antwerp, Belgium. Venezuela is also a few day’s sail from the Panama Canal.
During the past eighty years, Venezuela built a transport infrastructure, which despite the complex economic circumstances of the recent past affecting its maintenance, it still remains comparable to that of other regional peers who have invested heavily in the last decade. For instance, according to the latest available figures from the CIA World Factbook (2017), Venezuela has 127 airports with paved runways, including 6 airports with runways longer than 3,047 meters.
Peru, a comparable country in terms of population size, only has 59 airports with paved runways, and 5 airports with runways longer than 3,047 meters. Neighboring Colombia, a country with a population more than one and a half times larger than that of Venezuela’s, has 121 airports with paved runaways, and only 2 airports with runways longer than 3,047 meters.