71241 v2 Venezuela, RB: Trade At-A-Glance Dec-08 2007 GDP 2007 GDP 2007 Share 2007 Trade Membership No. of RTAs/ EIAs (millions) per capita in World Trade per capita GATT WTO Goods Services $236,885 $8,640 0.36% $4,354 1990 1995 3 0 Venezuela TRADE PERFORMANCE ‡ LAC Ranking Decile TP Upper mid inc TRADE POLICY (TP) (out of 125) 72 6 EXTERNAL ENVIRONMENT (EE) (out of 126) 125 10 TO EE INSTITUTIONAL ENVIRONMENT (IE) (out of 181) 174 10 TRADE FACILITATION (TF) (out of 151) 69 5 TRADE OUTCOME (TO) (out of 161) 50 4 TF IE ‡ Rankings are based on the "representative" indicators (in bold) in each group below for the latest year Outer bound represents best value in latest year TRADE POLICY (TP)  1995-99^ 2000-04^ 2005-07^ Latest^ Trade Tariff Restrictiveness Index (MFN applied tariffs)& 13.1 9.4 6.5 * TTRI (applied tariffs including preferences) & .. 6.5 6.5 * TTRI Overall TRI (OTRI, applied tariffs incl. prefs.+NTMs)& .. 11.0 11.0 * (MFN) Other trade policy indicators MFN applied tariff - simple avg (%) 12.7 12.5 12.9 13.3 Applied Dispersion (coefficient of variation) 0.5 0.5 0.5 0.6 tariff (wgt avg) Maximum rate 31.3 35.0 36.7 40.0 Agriculture - simple avg (%) 14.8 14.8 15.3 16.7 Import Nonagriculture - simple avg (%) 12.4 12.2 12.5 12.8 duties MFN applied tariff - trade weighted avg (%) 13.2 13.4 14.4 15.5 MFN zero-duty imports (% in total imports) 1.4 2.2 4.5 4.1 * Applied tariff (incl. prefs.) - trade weighted avg (%) 12.8 13.0 10.8 11.3 Nontariff measures Agriculture 15.0 15.2 10.9 12.6 Nonagriculture 12.5 12.7 10.8 11.1 0 10 20 30 40 50 Applied tariff (incl. prefs.) - production weighted avg (%) .. 11.5 11.1 * LAC Upper mid inc Venezuela Applied tariff (incl. prefs.) escalation (finished% minus raw%) .. 3.6 3.9 Agriculture .. 5.9 7.4 8.5 Nonagriculture .. 5.9 3.9 4.4 Import duties (% of imports) 7.9 6.8 7.2 .. Services commit. Tariff overhang (MFN bound less MFN applied rate,%) 23.6 23.7 23.6 23.2 Bound tariff frequency ratio (% of total lines) 99.9 99.9 99.9 100.0 * Specific tariffs frequency ratio (%) 0.2 0.0 0.0 0.0 0 40 80 Non-tariff measures frequency ratio (%) .. 39.8 .. .. LAC Upper mid inc Venezuela Overall GATS commitment index (0-100, best) .. 16.9 16.9 EXTERNAL ENVIRONMENT (EE)  1995-99^ 2000-04^ 2005-07^ Latest^ MA-TTRI (applied tariffs incl. prefs.)& 0.8 0.4 * MA-OTRI (applied tariffs incl. prefs.+NTMs)& 2.0 1.1 * MA-TTRI Other external environment indicators ROW applied tariff (incl. prefs.) - weighted avg (%) 3.6 1.9 0.4 0.2 * MFN duty free Agriculture 13.6 9.6 4.1 0.6 * (exports) Nonagriculture 3.3 1.8 0.4 0.2 * MFN zero-duty exports (% of total exports) 15.2 18.4 45.0 25.4 * Value of prefer Exports with FTA / CU partners (% of total exports) 0.0 0.0 0.0 0.0 * Preferences (EU+U.S.) utilization rate (%) .. .. 92.6 86.2 * 0 1 Lowest Highest Preferences (EU+U.S.) actual value (% of exports) .. .. 0.2 0.1 * LAC Upper mid inc Venezuela Real effective exchange rate (% change,+ =apprec.) 14.5 -5.5 5.1 18.9 ^ Indicators shown are period averages, incl. growth rates. Latest indicates 2008; when not available, 2006 or 2007 is used(noted by *). For more infor., see User's Guide at http://www.worldbank.org/wti2008. ŸMFN: most favored nation; NTM: nontariff measures; MA: market access; ROW: rest of the world; FTA: free trade agreement; CU: customs union; WTO: World Trade Organization GATT: General Agreement on Tariffs and Trade; WGI: World Government Indicators; ".." indicates missing value; RTA/EIA: regional trade arrangement / economic integration arrangement; & 2007 are preliminary estimates Venezuela, RB Trade At-A-Glance Dec-08 INSTITUTIONAL ENVIRONMENT (IE) 2004 2006 2007 2008 Ease of Doing Business (rank out of 181) .. .. 175 174 Starting a business (rank) .. .. 138 142 Enforcing contracts (rank) .. .. 70 142 Ease of Doing Closing a business (rank) .. 149 71 Business Other institutional environment indicators WGI - Regulatory Quality (-2.5 to +2.5, best) -0.94 -0.72 -0.87 .. 0 80 160 WGI - Rule of Law (-2.5 to +2.5, best) -1.20 -1.36 -1.47 .. LAC Upper mid inc Venezuela WGI - Control of Corruption (-2.5 to +2.5, best) -0.99 -0.98 -1.04 .. TRADE FACILITATION (TF) 1995-99^ 2000-04^ 2005-07^ Latest^ Logistics Performance Index (LPI, 1 to 5 best) .. .. 2.6 2.6 * Efficiency of customs and other border procedures .. .. 2.4 2.4 * Logistic Index Quality of transport and IT infrastructures .. .. 2.5 2.5 * International transportation costs .. .. 2.7 2.7 * Logistics competence .. .. 2.6 2.6 * Trading Trackability of shipments .. .. 2.5 2.5 * Across Borders Domestic transportation costs .. .. 2.7 2.7 * Timeliness of shipment .. .. 3.0 3.0 * Other trade facilitation indicators UNCTAD Shipping Doing Business - Trading Across Borders (rank out of 181) .. 163 164 No. of documents required for exports .. .. 8 8 No. of days process required for exports .. .. 19 12 Telephones Cost to export (US$ per container) .. .. 1,150 2,590 per 100 No. of documents required for imports .. .. 11 9 No. of days process required for imports .. .. 58 71 Secondary Cost to import (US$ per container) .. .. 1,400 2,868 enrollment Liner shipping connectivity index (0-100 best) .. .. 18.9 20.3 Telephones and mobiles per 100 people 18.1 38.2 83.7 105.2 * 0 Lowest 1 Highest Average cost of 3-minute call to U.S. (US$) 5.2 0.8 .. .. LAC Upper mid inc Venezuela Internet usage (per 100 people) 1.0 5.8 16.0 20.8 * Secondary gross school enrollment (%) 56.2 66.4 75.7 77.0 * TRADE OUTCOME (TO) ## 1995-99^ 2000-04^ 2005-07^ Latest^ Real growth in trade of goods and services (%) 1.0 2.5 13.2 8.7 14 13.2 12 Exports -2.6 0.3 2.8 -2.0 10 9.1 8.8 8.7 Imports 13.3 7.6 26.1 15.0 8 7.9 6.4 Other trade outcome indicators 6 5.9 5.0 4 3.7 Trade integration (trade as % of GDP) 49.2 48.9 56.9 53.1 2 2.5 1.0 FDI inflow (% of GDP) 4.0 2.3 0.6 -0.5 0 1995-99 2000-04 2005-07 2008 World trade share growth (%) -0.1 0.9 9.6 13.8 Trade Growth Rate Exports 0.0 5.0 8.0 16.1 Venezuela LAC Upper mid inc Imports 2.2 -3.1 12.3 11.2 Merchandise share in total exports (%) 93.4 96.4 97.6 97.9 Exports Share (2005-07) Agriculture 2.9 1.5 0.4 0.2 * Agric, Manufacturing 13.1 11.2 6.9 5.3 * Service, 0.4 Manuf, 2.4 6.9 Mining, fuel and others 77.4 83.7 90.4 92.2 * Service share in total exports (%) 6.6 3.6 2.4 2.1 Tourism 3.2 1.5 1.1 1.2 * Transportation 1.9 1.1 0.6 0.6 * Other services 1.5 1.0 0.6 0.6 * Export product concentration index (0 to 100, highest) 54.5 72.2 89.0 91.1 * Mining, Export market concentration index (0 to 100, highest) 56.6 58.0 56.8 55.6 * 90.4 Top 5 exports share (% of merchandise exports) .. .. 95.8 95.8 * Top 5 exports (SITC Rev. 2; 3 digit) 0.0 ^ Indicators shown are period averages, incl. growth rates. Latest indicates 2008; when not available, 2006 or 2007 is used (noted by *). For more info., see User's Guide at http://www.worldbank.org/wti2008 ## Most outcome indicators (mostly through 2007) are from the WDI (World Bank, Data Group), UNCTAD or COMTRADE; for filling gaps and 2008, data from the Prospects Group are used.