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THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.71, # 1, 2014, pp. 80-98
- Data on the volumes of Venezuelan oil petroleum exports shows the same behavior as
total exports of Venezuela (Fig.9)
- Additional information from the Fig.10 shows that high-tech export of Venezuelan
manufacturing is relatively small – it is near 3-4% of all manufacturing (not the total!) exports.
That means low competitive advantages of countries high-tech.
Fig. 7. Contribution to GDP of various sectors of Venezuelan economy in the period of 1980-2010.
Source: Korobeinikov, 2014, based on statistical data of World Bank
Fig.8. Share (%) of Venezuelan GDP contributed by the exports of goods and services, resource
sector and manufacturing in 1980-2012.
Source: Korobeinikov, 2014, based on statistical data of World Bank
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