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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Message: Venezuela GDP Falls 1.9% in 2010 / Mining down 11.9% , D'OH KRY problem solved
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Venezuela GDP Falls 1.9% in 2010 The Venezuelan Central Bank published its end of the year report, estimating that GDP contracted by 1.9% in the year, a slight improvement over the 3.3% of 2009.  CARACAS -- The Venezuelan Central Bank published its end of the year report, estimating that GDP contracted by 1.9% in the year, a slight improvement over the 3.3% of 2009.Oil GDP was down 2.2%, while non-oil GDP dropped 1.8%. Mining also contracted significantly, down 11.9%, the second double-digit contraction in a row by this sector. Construction was down 7.2% and the only sectors growing were communications, up 7.8%, Community Services, up 0.9%, and Government Services, up 2.6%. Imports remained flat at US$38 billion, while oil exports reached 60.8 billion. Non-traditional exports remained flat despite the more favourable exchange rate in 2010. The capital account was a negative US$20.1 billion, up from US$ 14.04 billion in 2009. |
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