Primary export model of Venezuela

Abstract

The main objective of this article is to study the primary export model in Latin America, and specifically in Venezuela, as an engine of economic growth through exports of natural resource-based products. Conquest and colonization shaped Latin American countries and turned them into outward-looking economies and made them dependent on the metropolis. The methods used to achieve the goal will be deductive and descriptive. As conclusions we have that Venezuela continues to depend on a product of nature, oil, which has suffered ups and downs in its prices, which puts the Venezuelan economy on edge.