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Economy


     The Venezuelan economy is dominated by the petroleum sector. Petroleum accounts for roughly one-third of the country's GDP, close to 80% of the exports and over half of the government revenue. The country's principle petroleum deposits are around and beneath Lake Maracaibo, the Gulf of Venezuela and the Orinoco River. Additional export goods include bauxite and aluminum, steel, chemicals, agricultural product and basic manufactures.

 

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Updated: 25 February 2008