Ronald Jose Rubio Ampueda

The Venezuelan territory ranks number five in the total economy of Latin America and one of the products, in addition to being the focus of the economy of Venezuela, is oil . Export categories of this country Oil exportation Most of Venezuelan oil goes to Asia : China and India receive the highest percentage, followed by the United States and the rest of the world. Precious metals correspond to 11% of exports Venezuela has established alliances with the government of Turkey to achieve increased exports of precious stones and metals. Gold in unused and non-monetary forms is the main precious metal it exports. 2.5% of the export corresponds to the Chemicals classification Although small, the export of chemicals has sought to make its way into the international market. Cocoa Exportation Cocoa ranks first as an export product, as it quickly began to be identified as one of the highest quality products on the world market. Corn Exportation Corn has great importance not only as food, but ...

Imports are the set of goods and services purchased by a country in foreign territory for use in national territory. Along with exports, they are an essential national accounting tool. An import is basically any good and/or legitimate service that a country (called ‘importer’) buys from another country (exporter) for its use. Imports are normally subject to economic restrictions and they are regulated by all countries for the entry of products. Thus, there are many agreements between countries to agree advantageous regulations for the countries that sign them. Imports and aggregate demand The role that imports play in a country's economy is fundamental. A country can generate production to be self-sufficient, but it can also buy it from abroad. If the value of imports increases, then aggregate demand will decrease. And vice versa, if we reduce what we buy from abroad, then aggregate demand will increase. Imports in the current account balance To account for these two concepts, th...