Diario las Américas Newspaper, May 2, 1954, Page 24

~ DIDYOUKNOWTHAT Some two hundred American firms established in Ve- nezuela represent an investment of approximately three billion dollars of private American capital in Venezuela? This money is invested in the oil and iron ore industries, and in a wide variety of manufacturing, importing, distribut- ing. engineering, construction and service enterprises—the number of which is steadily increasing. These activities provide livelihood for some twenty-five thousand Amer- icans resident in Venezuela. SSNS, enn The value of United States goods exported to Vene- zuela is over $500,000,000 yearly and these originate in every state of the Union as can be verified from the United States Department of Commerce statistics? The value of invisible exports which is more difficult to ascertain ac- curately, is estimated by financial experts between 300/ 400,000,000 per year, so that the total Venezuelan com- merce is worth three quarter of a billion dollars annually. With a population of about five million, Venezuela is importing United States merchandise at the rate of some five hundred million dollars annually? It is now the second largest export market in Latin America, and fifth in the world. In addition to this one-half billion dollars of Amer- ican products purchased by Venezuela, the unreStricted remittances of profits and dividends and funds resulting from associated services such as banking, insurance, ship- ping, etc. amounted to some four hundred million dollars last year, in other words a total of approximately one billion dollars of income to the United States resulting from trade with Venezuela.” SSS SEES TTS ET SESS ac | This amount of goods and services is purchased with dollars earned mainly from Venezuelan export of crude petroleum and products? The United States’ imports from Venezuela amount to $350,000,000 a year which consists principally of crude oil and products to the extent of 24 percent of Venezuela’s production, thus Venezuela buys from U. S. more than twice as much as she sells U. S. making her one of U.S. best customers. Venezuela has not borrowed or received grants from the United States. HERES WHAT VENEZUELA BOUGHT IN 1953 Machinery % $157 million & AtiTos and Trucks $66 million Foodstuffs : $45 million Textiles $ 56 million S au Chemicals AL $51 wilion | $25 milion HOD) TOTAL SU ein VENEZUELA Sen nearly $ 500000000 more last year @ BILLION DOLLAR To The US. To pay for lien serio PAG 12 Dairy products SE eee Wood and paper $16 million t-} Minerals $ 16 million Various $118 million Venezuela provides almost annual ‘income To the U.S.A. HEMISFERIO one NI OI AOR, toe eR EN er Te an SPURS geet ee ee RE ae aR