CARACAS, Thursday January 24, 2013 | Update
BILATERAL TRADE | According to VenAmCham

Venezuelan oil imports from the US soar 474.96% in 2011-2012

Imports of oil products climbed from USD 486 million in January-November 2011 to USD 2.79 billion in the same period of 2012. In general terms, Venezuela-US trade balance hit USD 19.78 billion, favoring Venezuela

Venezuela's oil exports totaled USD 34.49 billion in 2012, down 11.35% with respect to 2011 (USD 38.91 billion) (File photo)
Thursday January 24, 2013  01:58 PM
Venezuela's oil-related imports jumped by 474.96% in January-November 2012 as against the same period in 2011, according to data revealed by the Venezuelan-American Chamber of Trade and Industry (VenAmCham).

In 2012, Venezuela's purchases from the US stood at USD 2.79 billion, far above the figure recorded in 2011 (USD 486 billion). Imports comprised oil, oil byproducts, and related materials, the VenAmCham's report showed.

Non-oil imports soared 21.9% in January-November 2012 as well, from USD 10.75 billion in 2011 to USD 13.10 billion.

On the contrary, Venezuela's oil exports totaled USD 34.49 billion in 2012, down 11.35% with respect to 2011 (USD 38.91 billion).

Meanwhile, non-oil exports reported a slight rebound and amounted to USD 1.19 billion, 1.7% higher than USD 1.18 billion reported in 2011.

In general terms, Venezuela-US trade during January-November 2012 accounted for USD 19.7 billion, 31.42% below the figure recorded in 2011 (USD 28.85 billion) and in favor of Venezuela.

Translated by Jhean Cabrera
This is all there is

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.

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