The manufacturing sector reported a 7.5 percent increase in the first three months of the year, while Venezuela s oil GDP fell 1.8 percent
Venezuela's economy grew 4.5 percent in the first quarter, according to data disclosed by the Central Bank of Venezuela (BCV). This figure shows an upward trend compared to the first quarter of 2010, when the Venezuelan economy fell 4.8 percent.
The non-oil sector climbed 5.2 percent, while the oil GDP plummeted 1.8 percent.
"The positive performance of non-oil activities is widespread. Trade soared 10.4 percent, transport and storage services (up 7.8 percent), communications (up 8.0 percent) , manufacturing (up 7.6 percent), services produced by the government (up 7.6 percent), financial institutions (up 5.6 percent) and electricity and water (up 3.1 percent). It should be noted that this performance was influenced by the recovery of the domestic aggregate demand from both the public and private sectors, and by increased availability of imported goods, especially in the industrial sector. However, the construction sector declined 7.7 percent," said the central bank.
Additionally, the manufacturing sector recorded a 7.5 percent increase in the first three months of the year.
The private sector dropped 4.6 percent, while the public sector grew 3.3 percent.
A simple reason: there is oil galore, would suffice to explain Guyana's actions. Another explanation lies in the little or none efforts made by the Venezuelan government to thwart the move by the Guyanese. This is certainly not a new problem, but a problem only recently highlighted because oil is involved. But what other resources does the disputed area hold? For most of us it is a section on the map with black and white stripes on it, a depiction of something distant, alien, a nothingness not worth paying much attention to in geography classes back in elementary school.