72796 v2 World Trade Indicators 2009/10 Venezuela, RB: Trade-at-a-Glance Table 2008 GDP 2008 GDP 2008 Share 2008 Trade Membership No. of FTAs/ EIAs (millions) per capita in World Trade per capita GATT WTO Goods Services $313,799 $11,230 0.39% $5,431 1990 1995 3 0 TRADE PERFORMANCE‡ Venezuela LAC Ranking Decile Upper mid TRADE POLICY (TP) (out of 125) 72 6 inc EXTERNAL ENVIRONMENT (EE) (out of 125) 2 1 INSTITUTIONAL ENVIRONMENT (IE) (out of 183) 177 10 TRADE FACILITATION (TF) (out of 155) 84 6 TRADE OUTCOME (TO) (out of 157) 27 2 Outer bound represents best value in latest year ‡ Rankings are based on the representative indicators (in bold) in each group below for the latest year TRADE POLICY (TP) 1995-99^ 2000-04^ 2005-08^ Latest Tariff Trade Restrictiveness Index TTRI (MFN applied tariff) 13.1 9.4 6.5 * TTRI (applied tariff including preferences) .. 6.5 6.5 * MFN applied tariff (spl avg) OTRI (Overall TRI, applied tariff incl. prefs.+NTMs) .. 11.0 11.0 * MFN applied tariff - simple avg (%) 12.7 12.5 13.0 13.3 TTRI (MFN) Dispersion (coefficient of variation) 0.5 0.5 0.6 0.6 Maximum rate (excl. alcohol and tobacco) .. .. 37.5 40.0 Agriculture - simple avg (%) 14.8 14.8 15.7 16.7 MFN applied tariff (wgt avg) Nonagriculture - simple avg (%) 12.4 12.2 12.6 12.8 MFN applied tariff - trade weighted avg (%) 13.2 13.4 14.7 15.5 Applied tariff (wgt avg) Applied tariff (incl. prefs.) - trade weighted avg (%) 12.8 13.0 11.0 11.3 Agriculture 15.0 15.2 11.5 12.6 Import duties Nonagriculture 12.5 12.7 10.9 11.1 Applied tariff (incl. prefs.) - production weighted avg (%) .. 11.5 11.1 * 0 10 20 30 MFN applied tariff escalation (finished % minus raw %) .. 3.7 3.9 * Venezuela LAC Upper mid inc Agriculture .. 5.9 7.6 8.5 Nonagriculture .. 5.9 4.1 4.4 Import duties (% of imports) 7.9 6.8 7.2 .. Tariff overhang (MFN bound minus MFN applied rate,%) 23.6 23.7 23.5 23.2 GATS commit. Bound tariff frequency ratio (% of total lines) 99.9 99.9 100.0 100.0 index Non-ad valorem tariff frequency ratio (%) 0.2 0.0 0.0 0.0 Non-tariff measures frequency ratio (%) .. 39.8 .. .. 0 40 80 Anti-dumping initiations 4.0 0.4 0.0 0.0 Venezuela LAC Upper mid inc Overall GATS commitment index (0-100, best) .. 16.92 16.92 * EXTERNAL ENVIRONMENT (EE) 1995-99^ 2000-04^ 2005-08^ Latest Market Access-TTRI (MA-TTRI, applied tariff incl. prefs.) 0.8 0.4 * MA-TTRI MA-OTRI (applied tariff incl. prefs. and NTMs) 2.0 1.1 * ROW applied tariff (incl. prefs.) - trade weighted avg (%) 3.6 1.9 0.5 0.5 ROW applied(wgt avg) Agriculture 13.6 9.6 3.3 2.5 Nonagriculture 3.3 1.8 0.5 0.5 MFN zero-duty exports (% of total exports) 15.2 18.4 45.0 25.4 * MFN zero duty exports (%) Exports to FTA / CU partners (% of total exports) 0.0 0.0 3.5 7.0 Venezuela LAC Upper mid inc Anti-dumping initiations faced 1.8 2.0 0.3 0.0 0 1 All numbers normalized to a 0 to 1 scale Real effective exchange rate (% change,+ =apprec.) 14.3 -5.2 8.5 20.3 All data are as of January 2010 and are drawn from the World Trade Indicators 2009/10 Database. The database, Trade-at-a-Glance Tables, Country Trade Briefs and User Guide, are available at http://www.worldbank.org/wti. ^ Indicators shown are period averages. "Latest" indicates 2008, when not available, 2006 or 2007 (noted by *). EAP: East Asia and Pacific, ECA: Europe and Central Asia, LAC: Latin America and the Caribbean, MNA: Middle East and North Africa, SAS: South Asia, SSA: Sub-Saharan Africa. GATT: General Agreement on Tariffs and Trade; WTO: World Trade Organization; FTA: free trade agreement; EIA: economic integration arrangement; NTM: nontariff measures; ROW: rest of the world; CU: customs union; ".." indicates missing value. World Trade Indicators 2009/10 Trade-at-a-Glance Tables INSTITUTIONAL ENVIRONMENT (IE) 2006 2007 2008 2009 Ease of Doing Business (rank out of 183) .. 175 178 177 Ease of Starting a business (rank) .. 138 141 142 Doing 160 Business Enforcing contracts (rank) .. 70 72 74 Rank Closing a business (rank) .. 149 151 151 80 World Governance Indicators (WGI) 2005 2006 2007 2008 Venezuela Regulatory Quality (-2.5 to +2.5, best) -1.20 -1.25 -1.56 -1.44 LAC Rule of Law (-2.5 to +2.5, best) -1.27 -1.38 -1.50 -1.59 Upper mid inc 0 Control of Corruption (-2.5 to +2.5, best) -1.06 -1.01 -1.07 -1.13 TRADE FACILITATION (TF) 1995-99^ 2000-04^ 2005-08^ Latest Logistics Performance Index (LPI, 1 to 5 best) .. .. 2.6 2.7 Efficiency of customs and other border procedures .. .. 2.4 2.1 Quality of transport and IT infrastructure .. .. 2.5 2.4 Logistics Performance Ease of arranging competitively-priced shipments .. .. 2.7 3.1 Index Logistics competence .. .. 2.6 2.5 Ability to track and trace shipments .. .. 2.5 2.8 Timeliness of shipments .. .. 3.0 3.1 0 2 4 Venezuela LAC Upper mid inc Trading Across Borders (Doing Business, rank out of 183) 167 166 No. of documents required for export .. .. 8 8 200 No. of days required to export .. .. 40 49 160 Cost to export (US$ per container) .. .. 1,510 2,590 120 No. of documents required for import .. .. 11 9 80 No. of days required to import .. .. 61 71 40 Cost to import (US$ per container) .. .. 1,767 2,868 0 Telephones (fixed + mobile) per 100 people 18.1 38.2 92.7 119.5 Trading Across Borders Rank Internet users per 100 people 1.0 5.8 18.6 25.7 Venezuela LAC Upper mid inc Export credit insured exposures - short term (% of goods export) .. 6.6 8.7 TRADE OUTCOME (TO)# 1995-99^ 2000-04^ 2005-08^ Latest Real growth in trade of goods and services (%) ## 1.0 2.5 14.0 11.1 Real Trade Growth Rate 16 Exports -2.6 0.3 -0.2 5.3 14 14.0 12 Imports 13.3 7.6 28.6 14.5 11.1 10 Goods 2.3 2.5 15.7 0.6 8 8.2 7.8 7.5 6.5 6.4 6 5.8 Services -8.4 3.6 5.3 3.1 5.0 4 3.7 Nominal growth in trade of goods and services (%) 6.4 11.5 25.2 22.6 2 2.5 1.0 0 Exports 6.3 16.3 24.4 34.7 1995-99 2000-04 2005-07 2008 Imports 8.7 6.6 27.9 6.4 Venezuela LAC Trade integration (trade as % of GDP) 49.2 48.9 54.8 48.4 Upper mid inc Goods balance (% GDP) 9.5 15.0 16.1 14.5 Export Composition (2005-08) Food balance (% GDP) -1.2 -1.3 -1.6 -2.3 Travel , Oth com Transport 1.1 ser, 0.4 Services balance (% GDP) -3.6 -3.0 -2.4 -2.0 , 0.6 Agric, 0.4 Manufac, Goods share of total exports (%) 93.4 96.4 97.7 98.0 Minral, 6.9 2.2 Services share of total exports (%) 6.6 3.6 2.3 2.0 Goods exports as a share of world goods exports (rank)** 40 39 37 37 Services exports as share of world services exports (rank)** 66 83 88 90 Foreign Direct Investment (FDI) inflows (% of GDP) 4.0 2.3 0.6 0.5 Total remittances inflows (% GDP) 0.0 0.1 0.1 0.0 Export product concentration index (0-100, most) 54.5 72.2 89.0 91.1 * Fuels, 88.0 Export market concentration index (0-100, most) 56.6 58.0 47.7 37.9 Top 5 export markets (shares) USA (41%), Netherlands Antilles (8%), China, People's Rep. of (5%), Cuba (3%), Singapore (2%) Top 5 import markets (shares) USA (24%), Colombia (14%), Brazil (10%), China, People's Rep. of (7%), Mexico (5%) Top 5 export products (SITC 3 digit-shares) 333-Petrol, crude (94%), 684-Aluminium (1%), 671-Pig iron (1%), 281-Iron ores (1%), 673-Flat rolled iron/st prod (1%) Top 5 import products (SITC 3 digit-shares) 764-Telecom eqpt (6%), 542-Medicaments (3%), 723-Civil engine plnt (2%), 781-Cars (2%), 11-Beef (2%) ^ Indicators shown are period averages (except for Trading Across Borders rank: 2005-08 reflects 2008). "Latest" indicates 2008 (for Doing Business, LPI 2009), when not available, 2006 or 2007 (noted by *). # Outcome indicators are from the World Bank Development Data Group, Prospects Group, UNCTAD and COMTRADE. ## In constant 2000 US dollars. ** Rank is based on average annual world share for each period. The sample sizes are 173, 179, 180 and 173 countries, respectively.